According to recent report,
car companies that are trying to invigorate customers to
purchase new
vehicles are facing an uphill struggle. Despite the recent
Bank of England
interest rate cut by 1.5 per cent, the ailing
car market will need a much greater kickstart, experts
indicate.
New car sales,
used car sales and
car finance sales have all slumped in recent months. According
to Society of
Motor Manufacturers and Traders,
new cars sales are particularly badly hit. Sales are predicted
to fall below 2 million next year, the lowest level since
1995.
The cost of living and high
fuel prices have made many motorists rethink their driving and
car purchase plans. The benefits of new cars are not realised
by many buyers. The communications director at
Citroen UK, Marc Raven, reportedly commented: There are
still so many misunderstandings surrounding the efficiency of new
cars, even larger
family cars . We are doing a lot to increase understanding of
our CO2 emissions, but we have a lot of messages to get out
there.
