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UK Car Sales Fall 25% in May

UK car sales were nearly 25% lower in May 2009 than they were in May 2008, after 13 consecutive monthly drops. The government introduced a vehicle scrappage scheme last month in an attempt to boost new car sales and production. The vehicle scrappage scheme offers car buyers £1000 from the government and a further £1000 from the car manufacturers for any vehicle over 10 years.

While early indications show over 35,000 cars have been ordered since the scheme started on May 18th 2009, it will take time for the motor industry to recover and it still faces difficulties in the current economic climate.

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It wasn't just car dealerships that have suffered over the past year. Private sales have fallen just 13.8%, but sales to business customers have fallen 24% and fleet sales fell by 33.2% showing a downturn across the whole motor industry.

If you are looking for a new car to buy then there are deals to be had. With this new scrappage scheme and other discounts at dealerships in this credit crunch there has been no better time to buy a car. Here at Rainbow we would like to help you with this car buying!

We can offer car loans, personal loans and homeowner loans should you require assitance in buying a car. We have some of the UK's top lenders offering the cheapest rates on the current market. So if you want to buy a new car or want some advice on car loans simply complete the form below and we will call you back.