Right now: Small is beautiful!
19th January 2008
The credit crunch and soaring petrol prices are starting to have an impact on car buying in North Lincolnshire, according to the county’s most successful used car supermarket.
With many local people feeling the pinch, demand for smaller, more fuel-efficient, cars is soaring, whilst sales of larger, more expensive, cars have been falling quite markedly in recent months.
“The market is tough,” says Tony Wright, the Chairman of the award-winning Eddie Wright dealership, “and we are expecting it to remain challenging for the foreseeable future.”
In a New Year review of the state of the car market, Mr. Wright says: “There is no doubt that many local consumers are feeling the pinch and a lot of people are battening down the hatches.”
“In our business, it is the middle of the market that is feeling the pressure, which is to say the prestige cars, the 04,05 plate BMWs and Mercedes that sell in the £10,000 - £20,000 bracket.”
“Sales in the more affordable section of the market, smaller, slightly older, costing £3,000 - £8,000, are strong. Sales of top end cars, over £20,000, are also holding up, so there are people out there who are not too worried about recession.”
Mr. Wright added: “Last year we maintained our sales numbers . . . . we sold over 3,500 cars . . . but the average value of the vehicles was lower.”
“We were undoubtedly helped by the closure of a rival, the Dixon Motor Group.”
Looking forward to this year, he said: “We are expecting it to be pretty tough but we will react to what the market throws at us. We have after all been around for 75 years!”
“If the car buying public want us to sell a wider range of smaller, more cost effective, cars then that is what we will get. We have to react to market forces and we have to sell what people want.”
“The good news, from the point of view of the people who are buying, is that the market is going to be incredibly competitive. We are all chasing business and there are going to be some amazing bargains in the showrooms and on the forecourts in the next few months!”
For further information or comment please contact Tony Wright at Eddie Wright on 01724 270755
