new nissan cars

Car buying not on the agenda (for some)?

Latest findings from the Sainsbury's Bank Car Buying Index, which tracks (on a six-monthly basis) the number of people planning to purchase a car, indicates a decrease in those planning to buy a car. The research suggests that 7.65 million people intend buying a car between March 2007 and August 2007, a decrease of 430,000 people from the previous index, which covered the period September 2006 to February 2007. Expectations are that 53.2 billion will be spent on purchasing cars within the next six months, 16.2 billion less than the previous six months stated in the previous index.

Steven Baillie, loans manager, Sainsbury's Bank, makes the point that for the first time in two years there has been a fall in the total anticipated spend on new cars. He adds that over the past four years, since the bank started the car buying index, there have been occasional dips in planned spend on cars, but this fall by 16.2 billion represents by far the biggest drop witnessed to date.