Higher car sales than anticipated, despite credit crunch

Tue, 08 Apr 2008



Despite the credit crunch playing havoc on many UK and international financial services markets, the new car market continues to perform well according to a recent survey.

A report conducted by the Society of Motor Manufacturers and Traders (SMMT) indicates that a greater number of people than average were looking for a new car in March 2008, up 6 per cent on previous stats from 1999-2007.

Chief executive of SMMT, Paul Everitt, reportedly commented: "The latest figures demonstrate the progress made by industry in delivering lower carbon cars and the wide range of opportunities there are for consumers to save money and reduce their carbon footprint ."

The impact of the credit crunch on car finance from dealers may allow consumers to push for better deals, another industry expert said.
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