Demand for powerful, large-engine, top-end cars is falling in Britain
If the sales figures released by the Society of Motor Manufacturers and traders are any indication, Britain’s demand for powerful, large-engine, top-end cars is fast dwindling. The survey portrays a rather grim picture of the auto market. According to it, sports car sales fell by 15 per cent, whereas sales of 4X4s were down by 18 per cent. The 4X4 category includes Range Rovers and SUVs like Toyota’s RAV4.
The sales of SUVs, sports and other high priced cars, which hitherto remained flat, started collapsing in the UK. High fuel costs and CO2 related motoring taxes are driving the customers away from the market. The automotive newsletter AID declared that SUV sales party is over since Europe’s cash-strapped consumer is no more obsessed with SUVs and large-engine cars. The trend poses serious implications for the future of leading carmakers like Jaguar and Land Rover and many others. It could also be said that the fall in demand for car sales has been caused to some degree by the surge in car leasing, which has become more popular in the UK.
Proposed increase up to £950 in the excise duty on most polluting cars from 2010 would further affect the SUV sales in UK. Changes in depreciation rules for company cars, accounting for 50 per cent of UK market, would aggravate the situation further.
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