An industry consultancy has warned that recovery may be slow in 2010.
Network Automotive have released a statement with predictions including ’a degree of economic stability and slowly growing confidence’ this year, but no real return to the new car market.
Whilst, recovery is promised for the private car market — even if it is slow — the same may not be so for the commercial vehicle market.
An article on Motor Trader, has noted that there was a drop in van sales of 36.2 per cent in 2009. The commercial vehicle market can indicate the health of UK business in general and it is predicted that there wil be no huge changes to consumer confidence in the immediate future.
The current state of the motor industry can be seen in the winding down of Saab. Although, there’s a chance that the Swedish car marque could still be saved with bids put forward by Spyker and possibly other groups, GM — the American giant that owns the firm — have proposed hiring staff specifically to help with closing the firm permanently.
However, it’s not all gloom and doom. The UK motor trade industry has come out of a bad year, with a relatively hopeful future to look forward to. Honda and Vauxhall are manufacturing new vehicles on these shores, as well a further move towards electric and hybrid vehicles which are surely the future of the car world.
With a tough year ahead, it’s best to keep costs low. Using the Quotiva Network to find your motor trade insurance is a great way to find cheap quotes to match your needs.
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