New Car Sales Fall For First Time In a Year

Article: New Car Sales Fall For First Time In a Year

The number of new cars being sold has fallen for this first time in a year. This news, released by the Society of Motor Manufacturers and Traders is being put down to the scrappage scheme coming to an end as well as the constantly fragile economy.

Despite the drop in new car sales, the number of new cars being sold is still 15 per cent higher than this time last year. But industry insiders are stating that the drop in new car sales was expected because of the end of the scrappage scheme and also because of the lack of confidence from consumers when it comes to spending money. It is expected that two million new cars will be sold in 2010.

People are still being cautious with regards to spending large amounts of money and it’s not simply the cost of the car to consider. In fact, there are other costs to take into account too such as road tax and car or commercial van insurance.

But, despite these costs, industry insiders remain hopeful that new car sales will rise again due to the VAT rise which is planned for January 2011. With this on the horizon, more people may bring their car purchases forward to avoid the rise.

Source: carleasingnews.net

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