Car Sales 2010
Sales of new cars rely almost entirely on credit, because very few people can afford to pay the "A major factor will be the limitation in peoples' ability to obtain credit. The market for second-hand cars could benefit, or perhaps people are just keeping their existing vehicles." But the spokesperson commented that the shift in spending behaviour still reflected a change in consumer attitudes brought on by the credit crunch. "It may well be that as we have seen with the supermarkets, consumers are simply keeping to a tighter budget. "It's important to remember that this is a reflection of new car sales, and not necessarily car sales as a whole," says a spokesperson for Debt Advisers Direct.
So is this a serious indicator of the trouble the economy faces, or just a sign that people are taking care over their finances? Debt problems or careful planning? It was the fifth consecutive month that numbers of new car registrations had gone down, and the biggest drop so far - the closest was 18.6% between July and August. A new report from the Society of Motor Manufacturers and Traders (SMMT) shows that new car registrations fell by 21% in September, compared with August's figures.
It would follow that sales of cars are a reasonable indicator of the strength of the average consumer's finances. They get us to work; they get the kids to school in the morning; they enable us to visit family at the weekends. In the modern world, cars are often considered more of a necessity than a luxury.
So is this a serious indicator of the trouble the economy faces, or just a sign that people are taking care over their finances? Debt problems or careful planning? It was the fifth consecutive month that numbers of new car registrations had gone down, and the biggest drop so far - the closest was 18.6% between July and August. A new report from the Society of Motor Manufacturers and Traders (SMMT) shows that new car registrations fell by 21% in September, compared with August's figures.
It would follow that sales of cars are a reasonable indicator of the strength of the average consumer's finances. They get us to work; they get the kids to school in the morning; they enable us to visit family at the weekends. In the modern world, cars are often considered more of a necessity than a luxury.
