According to the Society of Motor Manufacturers and Traders (SMMT) November saw new-car sales reach an all-time low. The motor trade seems to be faring particularly badly in the current economic crisis. A total of 100,333 vehicles were sold during the last month a fall of 36.8 percent on last year’s figures. There has also been a fall in the year-on-year sales figures. Sales in the year to November stood at 2,023,104 vehicles, a decline of 10.7 percent on the figures for 2007.
The SMMT feel that sales may have been hit by motorists delaying their purchases until the VAT reductions came into force. They are predicting that total sales for 2008 will reach 2.1 million vehicles, compared to 2.4 million in 2007.
The UK’s motor traders are not alone in witnessing falling sales. Spain saw a drop in sales of 49.6 percent during November. Sales in Sweden declined by 36 percent, and Germany saw a decline of 17.6 percent.
When all in the motor trade seems to be gloom and doom, we at etyres are pleased to say that some sectors are holding up. Tony Bowman of etyres commented that the credit crunch is making people look for value, and that is leading them to buying tyres online. “We are seeing growth in sales, and a steady increase in new franchises as people look for value”, said Bowman, adding, “We have a rolling order for new vans as new franchises come online. So at least we’re doing our bit to boost vehicle sales”.