/24-7PressRelease/ - LONDON, UK, March 23, 2006 - Sales of new cars again fell last month resulting in a 10 per cent slump this year, in comparison to first two months of 2005. The sales have also fallen marginally in comparison to January this year. Car dealers are banking heavily on auto loans with attractive features like zero per cent financing and free car insurances to allure customers.
Sale of new cars fell again last month and are down by nearly 10 per cent for the year figures from Society of Motor Manufacturers and Traders show (SMMT).
According to SMMT Chief Executive Christopher McGowan the car market has suffered from firstly a rise in demand for diesel cars at the end of 2005 and secondly due to weakening of consumer trust.
The sales have dipped by 1.4 per cent for the month of February in comparison to the same last year.
SMMT believes that the present month will present a correct indication of the year ahead as the number plate change will shift movement from September to March in the car market.
Lucrative deals like zero per cent finance and free insurance are also expected to give a boost to new sales this month. The SMMT expects the sales to reach around 450,000 units in March this year.
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