Sunday, November 8, 2009

Unusual boom

Biggest rise in car sales in 10 years

Unusual acceleration in car sales given that people make perfectly serious comparisons between our economy now and the great depression. Scrappage scheme and also VAT rise at Christmas bringing demand forward, also possibly fear of future inflation.

Posted by stillthinking @ 05:23 PM (1185 views)
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4 thoughts on “Unusual boom

  • brickormortis says:

    I agree with the issue of bringing car sales forwards and also that lots of people still have lots of money an little or no mortgage so it is great for these guys to take part in a scrappage scheme.

    However, I don’ think the average car buyer thinks about future inflation when they buy a car. Most people I know can’t seem to calcluate a percentage and I can’t imagine them worrying about inflation.

    It is also true that the average individual in the UK does not give a monkeys about the UKs national debt. As long as their house is going up in price adn they get a few grand off their new car then whoopeeeeee! Little do they know that the tax and interest rate rises to come might just put their finances to the knackers!

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  • Owners of new cars bought under the scrappage scheme will probably find the £2000 saved on their deal wiped off the used car values.

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  • fallingbuzzard says:

    I would think that 2002 and 2003 should be the years to compare sales against – i.e. when they were up at 185k per month. Its what I would call a misleading set of stats.

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  • Every other person here in France seems to have swapped their ageing car for a new Citroen C2 or C3 !!
    Once the govt support runs out at the end of the year, sales will fall off a cliff, imo, as there is no push from the real economy to keep sales up.
    Also, the sales of medium sized saloons and top range marques are going to be in the doldrums for years….only their small car divs will keep them afloat.
    I don’t see many people around me plumping to by an Audi/Merc/Peugot607 or Citroen C5/C6…….which used to be the margin winners for the car sellers.
    Hopefully there will be no more taxpayer bailouts and a lot of these guys will merge/go to the wall.

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