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Posted August 12th 2008
Car Sales Decline!
While the current credit crunch bites into the motor industry, figures demonstrate a rapid decline in sales of new cars in July - in fact the Society of Motor Manufacturers and Traders report a 13% decrease in numbers of new cars registered in July 2008 against those registered in July 2007. But motorists are still showing a reluctance to abandon their cars despite growing pressures on their wallets incurred from rising fuel prices and road taxes, conceding, in many cases, by simply not considering the change or upgrade in vehicle that might once have occurred on a regular, if not annual, basis.
Research carried out by car insurance company Esure suggests that car owners in the UK are prepared to endure more price-hikes in petrol and diesel before they would think seriously about swopping their cars for a more economical mode of regular transport, although many drivers, particularly those living in rural locations, may not have the option to travel any other way than by using their own personal vehicle, even if that might be for only part of a planned journey.
Buying a new car is now considered an unaffordable luxury for most people even though the price of a new car could be around 22% less than it would have been 10 years ago and new technology means vastly improved fuel efficiency. The motoring industry deserves more government support to halt the decline in consumer confidence and convince dedicated drivers that there are many advantages to be enjoyed by running cars that have good 'green' credentials, whether they be low emissions or involve the use of a growing range of alternative types of fuel. These 'environmentally friendly' vehicles could benefit their owners in more ways than one by actually increasing in value as more and more UK drivers seek a solution that enables them to continue driving without too much damage being done to their pockets or their consciences.
