After Car Sales a Dive, There Is Still a Glimmer of Hope ; Analysis
Evening Standard - London › September 08, 2008
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Summary
NOT SINCE England had a football team capable of winning the World Cup, when the country went out and blew several months housekeeping on the new-fangled technology of the television, have fewer cars been sold in Britain. Want the best economic indicator of the credit crisis that is hobbling the consumer market even though it is a figure largely ignored by the Bank of England or mainstream City economists? Then take a look at the latest car sales figures from the Society of Motor Manufacturers and Traders.
The statistics are staggering. With just 63,225 new cars sold last month it is the worst August sales month since 1966. They are down, including fleet sales, by 18% on last year while sales of cars for private use are down 23% and to businesses off 36%.See the full content of this document
Extract
After Car Sales a Dive, There Is Still a Glimmer of Hope ; Analysis
While August is now traditionally a slow month before the September new registration, the SMMT is forecasting sales falling 10% in the last four months of 2008 and down another 4.4% in 2009.
The figures are also a fascinating insig...See the full content of this document
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