With the suggestion that the economy has taken a turn for the better and the recession is on its way out, it’s nothing but good news for car manufacturers, as they have had an increasingly successful year. In fact, it’s been the most financially triumphant for car sales in 10 years.
Car Sales Continue To Rise
Sales of new cars were 5.6% higher in July of this year compared to July 2013, and it seems that this is just the beginning. In October, almost 2 million new cars were sold, suggesting that people aren’t feeling too much of the pinch, and are instead looking to purchase brand new cars over second hand offerings. However, experts have advised that the recent high is set to level out to a more natural rate.
Car manufacturing is one area in which the UK has suffered; its demise has been fairly long and drawn out as people looked to other countries such as Germany and Japan for their cars. This, combined with the economic crash occurring around 2008 saw sales slide, with people deciding to tighten their belts. Where people might have made the flippant decision to purchase a brand new car, there was a new consideration about whether that indulgent second car was needed.
From across the industry in Europe there are figures which suggest a resurgence of interest, taking companies back to levels seen only prior to the recession. You might be forgiven for thinking that this would mean that Germany, best known for manufacturers such as Volkswagen and Audi would be top of the pile, but in fact they have seen a fall in sales of 0.4%.
Meanwhile, France took the biggest hit with its own market contracting by 4.3% in July. As a combined number the EU saw 8,336,159 new car registrations which equates to a 6% rise for the first 8 months of 2014, showing that despite some disappointing figures from big players, there is still a big demand for cars again.
Confidence among consumers is up high, with families finding themselves with a little more disposable income to play with; it’s amazing what a little bit of confidence can do for an industry. It has to be pointed out that the price of fuel has helped to boost people’s confidence, with prices at the pumps dropping as the months go by.
If you’re looking for car hire services, or to buy, then you need look no further than Caversham Car Hire. We stock a fantastic range of cars for you to choose from and all at great prices. Get in touch today for more information about our ex-rental vehicles for sale, our friendly, professional team will be happy to help. If you see a vehicle you like, we can arrange for you to have a viewing at your convenience.