At this time auto car dealers are having a credit crunch too,
after a few years of booming car sales, the financial market is hurting
them badly.
New
car sales at auto car dealers are at the lowest point since 1966, we
have just had the new 58 registration number plate out and it is rare to
see one. This downturn will have a dramatic effect on the used car
market too.
There is a rumour going round that one of the largest
auto car dealers is in financial trouble. With new car sales being down,
used car prices going into free fall, then taking into account recent
acquisitions of new premises over the last year, money spent on making
the business even larger with the debts involved is coming back with
disaster written all over it.
It won't be alone, auto car dealers
are not the only ones in trouble, when recession hits and spending is
frozen by a struggling populace,
fuel automotive takes a back seat and you
can't blame people for that. It may in many cases prove a false economy
but there we go.
At the moment it is the same as in the property
market, it is a buyer's market and auto car dealers are very aware of
it, as a buyer you don't have to wait for the end of the month to get
the best deals, any time will do.
If you are fortunate enough to
be able to buy your new or used car from an auto car dealer, you will
find yourself spoilt for choice and if you stay strong in the bartering
bit you can surprise even yourself with the savings, extras, you can
achieve.
But for auto car dealers therein lies the problem, not
nearly enough of us are in the market for a new or used car,
manufactures have created a problem for themselves, thank goodness I
might add, it is this: Cars made over the last 10 years or so are very,
very reliable, so in buyer's terms, if it ain't broke, why change it?
Like
many industries at this credit crunch time, auto car dealers are right
in the thick of it, jobs might be lost or saved in the 'city', but jobs
will only be lost in this area, car makers have already laid workers
off, down numbered the number of shifts, slowed, even stalled production
on some vehicles, it is a worrying time for far too many families.
It
is not just here in the UK, this is affecting auto car dealers,
manufacturers globally, production is grinding to a halt, knock on
effect means less replacement parts and so on. I take no pleasure in
stating it is all too much doom and gloom at the moment, it will get
better but not for a long while yet.
In my next article I will
turn to jollier matters, in the meantime though, when driving, short
distance or long, please, please, please wear your seat belt.