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Car News

Oct 6 2008

Unsecured Car Loans customers may be among those identified by a new report as moving away from buying larger cars.

According to figures from Spyder Automotive in association with Clean Green Cars, the new car registration market fell by 88,995 units in September.

The report noted that sales of off-road vehicles fell by 41 per cent, while luxury saloons dropped by 43 per cent.

However, the city car segment of the market saw sales increase by 17 per cent, car loans customers may be interested to learn.

Jay Nagley, managing director of Spyder Automotive, said: "There is clearly a fundamental change going on in the market place.

"Given that car manufacturers need three years to introduce a new model, this is a very worrying development for manufacturers of larger cars."

Last month, Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders, said that "volatility" within the global economy was having a knock-on effect on demand for new cars.

However, the UK's vehicle production levels remain strong, he commented.
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