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Car Sector in a Huge Slump
By plrprousers | June 19, 2009
Just recently statistics have been released that shows new cars sales have fallen to their lowest April level for the last 18 years, which has also ultimately made it the eleventh month in a row of decline.
But car makers are not getting too worried as they are hoping that the new scrappage incentive scheme will revive the industry, basically people are going to be given around £2000 if their cars are older than a decade, this money will then have to be spent against a new car of your choice. This should without a doubt help the industry.
Government officials have said that the scheme is actually designed to remove polluting cars from the road, but I personally believe that it has much more too do with the current economy, they are trying to get the automobile industry live and kicking again and the best way to do that is by offering people a bargain.
A lot of folk have actually turned to purchasing used cars instead of new ones as they tend to be a lot cheaper, but is this always the case? From what I have noticed over the last few months when folk buy a used car and then end up paying a huge amount to get it repaired. The good thing about buying a new vehicle is that you are always guaranteed that it will be in working condition for at least 2 years.
Although the car industry is still suffering at the moment I do expect it to pick up by the end of the year, we all know that the government are injecting money into the global economy so things should only start to look better. Let's hope the scrappage scheme is here to stay.
Do you want to Buy a Honda or Buy a Toyota
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