Car production increase could boost car finance

Mon, 22 Feb 2010



According to car finance news reports, the boom in car production during January could boost car finance sales during 2010. The Society of Motor Manufacturers and Traders released data showing a 58.5% increase in car production during 2008, the largest monthly rise since May 1996.

The figures could show increased confidence amongst consumers, and a gradual improvement in the availability of vehicle finance . One expert at Think Money reportedly said: " Car sales have been relatively low over the past year due to a combination of low demand and a lack of car finance availability. But more recently we`ve seen an increase in the availability of car finance, which may have contributed to higher sales."

Paul Everitt of the SMMT confirmed that more and better-priced car finance is becoming available for both businesses and consumers.
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