Car sales are one of the most important and reliable economic indicators. Not only are they big ticket items, but they are also produced by an industry that employs a good percentage of the population. Car sales also serve as an accurate gauge of the credit markets.
As you might expect, car sales in the UK have been on the decline for several quarters, though statistics were distorted by the government enacted scrappage scheme. This program offered shoppers a two-thousand pound credit toward the purchase of a new automobile when they traded in an old tin Lizzie.
The scheme met with mixed success as sales fluctuated greatly during the seven months that the program was in effect. And after the economy emerged from recession, it was believed that the program would be discontinued as many drivers opted for CPC training Lincolnshire .
Thankfully, sales of second-hand vehicles have actually increased over the past year. This surprising recovery is often attributed to the fact that UK residents were in desperate need of personal transportation and as soon as the economy came out from recession they started shopping for affordable alternatives.
It also helps that most dealerships now offer full and partial warranties, which means that buyers no longer have to worry about buying a lemon. It also means that dealerships do a much better job inspecting cars for problems before they sell them, since they don't want to be responsible for expensive repairs in future.