Car dealer confidence falls

Mon, 21 Jul 2008



The credit crunch has affected the car sales and motor finance industries in a number of ways. According to a recent industry barometer, car dealers are less confident in their business than they were three months ago.

Problems in the housing market have spread to other sectors, and the Motor Trader Franchised Dealer Barometer finds that just 6 per cent of car dealers expect a good year ahead.

With interest rates remaining high, as the Bank of England curbs inflation, the car sales market may have a rough ride ahead. The director of the National Franchised Dealers Association, Sue Robinson, was reported as commenting: "Reductions in interest rates, efforts to stabilise fuel costs and clarification over the cost of motoring are all within the government’s remit and we urge it to look into these areas urgently."

Experts said that consumers could be putting off purchasing a new car due to lack of disposable income.
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