Small Drop In Car Sales – Worst Is To Come
Friday, 3. October 2008
Whilst there appears to be a great deal of doom and gloom about, the latest new car sale figures issued by the Society of Motor Manufacturers and Traders (SMMT) to the end of June shows a modest drop of just 1.6% over the same period in 2007. A lot of that was due to the sharp action of the manufacturers to discount cars into leasing companies helping to keep new car sales running at a higher than expected level. If anything new car sales have suffered from the credit crunch as funders become more selective and fewer people get approved on finance. Whilst we have no new figures for the 3rd quarter yet we are expecting more of a fall although the suggestions from the manufacturers are that there will be much more support in the final quarter to help sales along. By Graham Hill
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