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Why the slump in new car sales
Aug 26 2010The subprime crisis which led to the global slowdown had its ripple effect on the auto industry too and new car sales slumped quite dramatically due to job losses, cuts in pay and tight liquidity conditions. People were not also willing to risk his home equity in the wake of depreciating values as well as the interest rates rising. The herd mentality driving consumer behaviour was yet another reason for dwindling sales of new cars.
The fall out effect of this behaviour has seen the used car market thriving and many consumers have decided to wait for some more time to buy the new car. Other reasons like lower depreciation on used cars as well as lower insurance costs have also contributed to the increase in used car sales.
Car makers are however hitting back with much better offers on prices, better trade-in offers and cash rebates in order to liquidate their built up inventory. Car Finance schemes are also being rolled out that are extremely competitive and friendly to those with good credit history reports and the effects are slowly beginning to be seen.
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Cheap Car Loans and Fleet Sales are Helping the UK’s new Market
Created Dec 30 2011
Although car sales have taken a beating through much of Europe during the last couple of years, the prognosis for the UK car market in 2012 is considerably less dire, according to experts at Pricewaterhouse Coopers (PwC).
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Ford Plans to Double its Production in China
Created Jun 22 2011
Ford’s joint venture in China – Changan Ford Mazda Automobile – plans to soon double its annual production of car engines to 750,000 units.
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Insurance Website Names Most Dangerous Cars
Created Jun 20 2011
The popular insurance website Confused.
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FSA to Improve Complaints Handling Standards
Created Jun 14 2011
The FSA has announced a range of measures aimed at improving complaints handling standards.
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Financial Services Authority Cancels Retails Authorisation
Created Apr 21 2011
As most car finance buyers are probably aware, part of the responsibility of the FSA (Financial Services Authority) is to protect motorists against dangerous financial practices.
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Finance Becoming More Important in Car Purchasing
Created Apr 20 2011
In a recent interview with AM-Online, General Manager at BMW/Mini Financial Services, Joe Pattinson, expressed a number of opinions that are of interest to ordinary car finance buyers.
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Debt Recovery for Lenders Conference in London
Created Apr 6 2011
Those involved in the UK car finance industry will be interested to know that the FLA will be presenting a Debt Recovery for Lenders conference in London on the 18th May 2011.
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Duty Cut not Passed on to Drivers
Created Mar 30 2011
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Motor Industry Reacts to the Budget
Created Mar 29 2011
Reaction from the car finance and fleet industries to Chancellor Osborn´s latest "motorist´s budget" has on the whole been fairly positive.
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Japanese Disaster Hits Toyota Badly
Created Mar 28 2011
The ripple effect of the recent earthquake and subsequent tsunami in Japan is slowly being felt by manufacturers and auto loan buyers all over world.
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