Thursday, 6 December 2012

We're buying more cars

If you want to measure the state of family finances, don't lose sight of what people are buying.

The biggest expense for most people, after buying a home, is buying a car. In fact, getting wheels ranks right up there as a major decision along with getting married, getting a mortgage and having children.

Unsurprisingly, car sales took a serious knock during the financial crisis. But now they are going up.

In fact they have risen every month since March.

UK buyers bought 15,000 more cars in November than a year ago and, so far this year, they've bought nearly 100,000 more cars.

Car traders expect they'll post their biggest sales total since 2008 this year at over 2 million cars, with private buyers showing the most significant increase.

Ironically, the acceleration in car-buying has skewed our trade figures, which look pretty bad today. Part of the reason is that we are buying more cars from the continent, while hard-pressed citizens of other EU countries are buying fewer cars from us.

No comments:

Post a Comment