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Is The UK Car Market Set To Suffer?

As talk of the credit crunch centres on the housing and property market there are signs that it is having an impact upon the car market. Over the last few years we have seen more and more UK car purchases financed by credit, a line which can often bring in useful commission for car retailers. However, as the credit crunch continues to strangle the money markets there are signs that car sales are under pressure.

As more and more consumers look to focus their finances towards the more important things in life, such as their home, etc, there are signs that demand in the car market is being hit. It will be interesting to see the next set of results from some of the major car retail companies and what they forecast for the future.

The car market in the UK has been fairly buoyant over the last few years with cheap credit available on tap, but this vital element has all but disappeared in many areas of the UK. Consumers are concerned about the future, they are cutting back on their non-essential spending and many cannot even contemplate a new vehicle at this moment in time. Add in the proposed tax changes by the government and you have the makings of a serious squeeze on the car market in the UK.

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