Car Industry Still in the Slump
Just recently statistics have been released that shows new cars sales have fallen to their lowest April level for the last 18 years, which has also ultimately made it the eleventh month in a row of decline.
Car manufacturers and dealers are staying calm though as they believe the new scrappage incentive scheme with help boost sales. This should help the industry revive itself.
Government officials have said that the scheme is actually designed to remove polluting cars from the road, but I personally believe that it has much more too do with the current economy, they are trying to get the automobile industry live and kicking again and the best way to do that is by offering people a bargain.
More and more people are now buying new cars as they believe it is mucg more cost effective, but is this always the case? The negative thing that I have seen with used cars is that they all end up breaking after a while. The thing about purchasing a new vehicle is that you are always guaranteed that you can use it for at least 2 years without it causing a problem for you.
Although the car sector has hit an all time low I do expect things to pick up by the end of the year. Let's hope the scrappage scheme is here to stay.
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Filed under: Financial Advice