Whereas sales of new cars have fallen by 14% in 2009 from 2.13m to 1.83m, sales of hybrid and electric cars actually increased by 25% from 16,000 to 20,000 cars. Despite the market downturn, 4,000 car buyers have taken advantage of the £2,000 scrappage allowance to buy higher priced hybrid, electric or other alternatively fuelled cars.
Even though the financial crisis and the recession has caused new and used car sales combined to fall by 11%, almost one-third of all adults surveyed online say they intend to buy a new or used car over the next twelve months.
With sales of new cars in the UK plunging as the UK economy goes into a steep economic decline, this report analyses the consequences for the car market of the first recession to affect the UK since 1992.
The car market is a barometer of the UK economy with car sales traditionally being one of the first market sectors to decline as a recession takes hold. It is also, however, one of the first market
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Whereas sales of new cars have fallen by 14% in 2009 from 2.13m to 1.83m, sales of hybrid and electric cars actually increased by 25% from 16,000 to 20,000 cars. Despite the market downturn, 4,000 car buyers have taken advantage of the £2,000 scrappage allowance to buy higher priced hybrid, electric or other alternatively fuelled cars.
