New car sales crash....

WTF?_2

http://news.bbc.co.uk/1/hi/business/7712376.stm

Another portent of gloom to add to the others today (house prices down 2.2% MoM, slashing of 1/3 off of interest rates by a clearly panicked MPC , etc)

Sales of new cars in the UK fell in October at their fastest rate for 17 years, industry figures have shown. Figures from the Society of Motor Manufacturers and Traders (SMMT) showed new car sales were 128,352 in October, down 23% from a year ago.

Typically a strong barometer of consumer confidance and prosperity.

Kez100

Our old knacker fell apart in February so we bought new (fuel efficient) but may well not do if it were now. Fuel prices have fallen back and it would seem more sensible to have, perhaps, mended what we had.

We all know in the past few years sales will have been far too high - fuelled by credit and general feeling of everything being hunky dory - I would be interested to know if we went back a few years what car sales numbers were then. Is this a drop from that level?

Really2

!!!!!!? wrote: »

http://news.bbc.co.uk/1/hi/business/7712376.stm

Another portent of gloom to add to the others today (house prices down 2.2% MoM, slashing of 1/3 off of interest rates by a clearly panicked MPC , etc)



Typically a strong barometer of consumer confidance and prosperity.

Funny that recession and all that car figures are not up!

You will be telling me people are spending less too!

Next house prices are falling and mortgages are hard to get hold of!

WTF?_2

Kez100 wrote: »

Our old knacker fell apart in February so we bought new (fuel efficient) but may well not do if it were now. Fuel prices have fallen back and it would seem more sensible to mend what we have.

I hope that oil prices falling back don't cause people to just give up on the idea of fuel efficiency and using less energy.

Real world fuel prices today are more or less the same as at this time last year, so the only real fall has been from the price spike in the first half of the year.

That spike is a taste of what is coming, people should look on this period of cheap oil as being a chance to prepare and diversify into other energy sources or economise on use.

owner

This comes as no surprise to me as I spend a vast amount of time (far too much) on the M6, and only this morning I saw a '58' plated car and realised it was about the only one I have seen, and they have been out since September haven't they ? There seem to be a lot of '08' plates out there so people must have been buying in the first half of the year. This would suggest these figures are the tip of the iceberg for car sales.

mr.broderick

!!!!!!? wrote: »

http://news.bbc.co.uk/1/hi/business/7712376.stm

Another portent of gloom to add to the others today (house prices down 2.2% MoM, slashing of 1/3 off of interest rates by a clearly panicked MPC , etc)



Typically a strong barometer of consumer confidance and prosperity.

Yes new car sales definitely down however our used sales have more than made up for it. With the current slashing of interest rates better to get out there and buy a newish motor, treat yourself.

savemoney

I doubt it. Many of us dont have money and those that do want to hold on to it

Regardless of price of oil I always drive economy anyhow in fact I rarely sue car at all now gave up p/t job thanks to prices of oil and using car for work

!!!!!!? wrote: »

I hope that oil prices falling back don't cause people to just give up on the idea of fuel efficiency and using less energy.

Real world fuel prices today are more or less the same as at this time last year, so the only real fall has been from the price spike in the first half of the year.

That spike is a taste of what is coming, people should look on this period of cheap oil as being a chance to prepare and diversify into other energy sources or economise on use.

mr.broderick

savemoney wrote: »

I doubt it. Many of us dont have money and those that do want to hold on to it

Regardless of price of oil I always drive economy anyhow in fact I rarely sue car at all now gave up p/t job thanks to prices of oil and using car for work

Then you are no good for our economy, doesn't work and doesn't spend.
Hopeless.

StevieJ

Really2 wrote: »

Funny that recession and all that car figures are not up!

You will be telling me people are spending less too!

Next house prices are falling and mortgages are hard to get hold of!

And holidays in the US have dropped off a bit.

dopester

!!!!!!? wrote: »

I hope that oil prices falling back don't cause people to just give up on the idea of fuel efficiency and using less energy.

For someone eyeing up an £18K motor, I hope the same applies to yourself.

I've been reading of some serious bargains to be had in second hand market in recent months - although I've yet to personally encounter any such great deals.

TBH my worry is the condition of the roads - I think the road system might deteriorate and not be as well maintained due to lack of money for some local government in some areas, for quite a number of years... with Russian style pot-holes a danger for your sump.

I'm not a big car lover but might be tempted by a RAV4, although the latest models are stupidly-big now.

PasturesNew

mr.broderick wrote: »

Yes new car sales definitely down however our used sales have more than made up for it. With the current slashing of interest rates better to get out there and buy a newish motor, treat yourself.

My car's still almost new, it's just under 8 years old, loads of life left in it yet. 50,000 miles, so it'll last another 8-10+ years.

I toy with the idea of getting something flash, a Porsche? on a private plate ... but it's only toying. I'd be far too scared to spend money on a frippery - and I know I can't reach the pedals on those properly anyway.