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Warning of sales slump
A MAJOR slump in new car sales is being predicted over the next six months - at a cost of more than £11 billion to the UK motor industry.
The latest findings from the Sainsbury's Finance Car Buying Index, which tracks the number of people planning to purchase a car on a six-monthly basis, indicate a decrease in the number of people planning to buy a car and a drop in their expected spend on any car purchase.
The research indicates that 6.86 million people intend to buy a car between now and August, almost a million fewer than during the preceding six-month period. The index also reveals that £47.5 billion will be spent on purchasing cars over the next half-year, representing a £11.1 billion decrease on the previous September 2007 to February 2008 figures.
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