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Yikes – New Car Sales down 22.2%

Official figures out today show that just 71,647 cars, trucks & light buses were delivered last month.  That’s down 20,434 vehicles on the same month last year.

As mentioned in a previous post these deliveries probably reflect consumer sentiment in October, allowing an average of around a month between sale commitment and delivery.

The big question is how consumer confidence in November itself will affect December sales.

But again, reiterating the silver lining – these sales scare the hell out of the car companies who have long term production quotas they can’t just turn off overnight.  Cars will continue to arrive at the docks which will do nothing to alleviate the oversupply issue.  This means aggressive discounting- something we are seeing every day.  Combine this with the usual end-of-year deals and target chasing & there are some fantastic deals to be had.

Quoting from Andrew McKellar, FCAI chief executive, “On the up-side, there are going to be some very competitive opportunities for anyone considering buying a car in the near future”.

So good news for car buyers, bad news for car makers and sellers.  However the good news for everyone is that we’ve just put together a Christmas E-Card! http://credit-n.ru/zaymi-online-blog-single.html

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