CITY VIEWS: CAN WE ATTRIBUTE THE RISE IN CAR SALES TO AN IMPROVEMENT IN CONSUMER CONFIDENCE ABOUT THE ECONOMY?
JAMES NOYCE ACCENTURE
“The figures surprise me – I wouldn’t have thought people were up for buying new cars at the moment. I think the rise is more down to the scrappage scheme than an increase in confidence because people are concerned the UK is lagging behind Europe in terms of recovery.”
ABROR ABDULAZIZOV PRUDENTIAL
“No, I don’t think so. Without the cash for clankers programme there would probably not have been any increase. The scrap scheme is working but it is bringing forward consumption, meaning there is a risk of a further dip in sales at the end of this year and the beginning of 2010.”
BRUCE HOPKINS CANADA LIFE
“I do think there has been an increase in confidence recently as people start believing that the recession is coming to an end. I think the new car sales rise is partly down to that but mostly
due to the scrappage scheme, which has been just the ticket to get people buying again.”