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Northern Ireland car sales

Worlds' crisis strongly effects car manufacturing and sales. As a result the market for new and used cars in Northern Ireland has fallen sharply. As a result, it leaves the motor vehicle dealers facing a drop in business.

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Worlds' crisis strongly effects car manufacturing and sales. As a result the market for new and used cars in Northern Ireland has fallen sharply. The Society of the Irish Motor Industry says car sales so far this year are down more than two-thirds on the same period last year. Its mainly due to two factors: credit problems and the concern that jobs may be at risk. Combined, they leave the motor vehicle dealers facing a drop in business.

Dealerships are struggling to find buyers for the thousands of cars which fill their forecourts because of the fear of crisis. In consequence, in 2009 cars are being sold with the heaviest of discounting ever. Simultaneously, sales of virtually every make have slumped alarmingly. Manufacturers stopped majority of production lines and there are no predictions when the starter button might be pressed again.

Although new-car registrations for January are down by two-thirds compared to the same month last year, used cars market in Northern Ireland is in much better condition. Nevertheless, to increase sales of new cars and prevent crisis form entering Irish used cars trade on similar scale, the Government should respond by ensuring the banks begin lending to consumers again. Such governmental reaction can be observed in US, where the US Treasury announced a rescue package for one of the biggest car loan companies to encourage it to offer more credit to would-be car buyers.

Probably, if not stimulated by radical governmental actions both used and new car dealers in Northern Ireland will face similar problems. The drop of prices will have to be stopped at some point to keep the business remunerative. On the other hand, new cars as well as used cars will be getting older and their value will naturally decrease. Summing up, in short time Northern Ireland will have cars in dream low prices waiting for demand.

Article Tags: Northern Ireland, Used Cars

Source: Free Articles from ArticlesFactory.com

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