New and used car markets 'will bounce back'

30/10/2008

New and used car markets 'will bounce back'

Sales of new and used cars are likely to improve in 2009, according to EurotaxGlass's.

The group has predicted the second hand vehicle market will be the first to show signs of recovery, with new models following suit shortly afterwards.

However, the company acknowledged fleet registrations might be slower to pick up, with improved sales not kicking in until at least the end of next year.

Managing editor Adrian Rushmore said the arrival of the 09 plate in March would give a strong indication of how the market was doing.

He added early indicators from economists were good as they agreed the inflation rate had peaked.

Mr Rushmore concluded: "We believe the swift and painful downturn we saw in the summer months of 2008 was probably a one-off event."

Earlier this month, EurotaxGlass's highlighted a report from PricewaterhouseCoopers which suggested the number of new and used car dealerships in the UK was likely to drop in the next few years as a result of vehicle manufacturers' tightening control over standards.


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