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Thread: January 2010 car sales decline despite scrappage scheme

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    Default January 2010 car sales decline despite scrappage scheme

    The number of new cars sold in January 2010 declined by 4.8% compared to January 2009 despite the scrappage scheme

    It will be interesting to see how sales will go for the first three months.

    32,961 new cars were sold in January 2008 compared to 10, 469 for January 2010


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    Last edited by John Kalahan; 11th February 2010 at 01:45 PM.

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    Politics.ie Member Mitsui2's Avatar
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    My only surprise by this point is that they managed to sell 10,000. Anyone know when January car sales were last at such numbers?

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    Politics.ie Newbie Gobuchul's Avatar
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    because if my car is over 8 years old, more than likely I'm on the lower economic scale, and also more than likely I'm fearfull for my job, so the last thing i want to do is to buy a new car.
    To my mind it was a useless misguided bit of distraction by the government.
    Why encourage people to give large chunks of probably borrowed money to Germany or japan?
    ?????

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    Quote Originally Posted by Mitsui2 View Post
    My only surprise by this point is that they managed to sell 10,000. Anyone know when January car sales were last at such numbers?
    I think it was 1986
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    And now with all the panic about the recalls of new hybrid cars in the media, this scrappage scheme is dead as a duck.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    It is no surprise, the scrappage scheme makes no sense. As stated above, someone who is driving an 8 year old (or older) car likely does not have the money to buy a brand new car. In any case, why would they want to, particularly when there is a heavily deflated second hand market. If they want a scrappage scheme to work with brand new replacements it will have to include cars that are about 4/5 years old.

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    Default Its difficult to see how a scrappage scheme could be other than

    Its difficult to see how a scrappage scheme could be other than a digout for foreign car manufacturers.

    How much margin do retailers make selling a new car?

    How many would have bought a new car without the scrappage scheme?

    My hunch is that only those who could afford to buy a car did so in the current climate and that most of them would have bought in any event.

    Mind you this government had almost gone as far as slaughtering the eldest child of garage owners with the ruinous Gormley intervention with Car taxation

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    There was a guy from the SIMI on radio last week claiming sales had increased by 4% in January!!!!!

    Was he drunk?

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    Politics.ie Member hammer's Avatar
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    My belief is that as cars become 10 years old throughout the year the monthly sales will be more stable. There wont be a pronounced fall off from January like normal years.

    It is a kick in the teeth though for Motor Trade that retained staff on the assumption that there would be a SIGNIFICANT pick up.

    More job losses & closures

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    Quote Originally Posted by johnfás View Post
    In any case, why would they want to, particularly when there is a heavily deflated second hand market.
    Actually speaking of the second hand market - the brothers car is wrecked (bad buy tbh) so he went for a loan to buy a second hand one. The bank basically refused to give him a loan for a good second hand car (5k) and would only give him a loan for a new car bought from a main dealer. (He has stable, public sector job so no problem about the loan itself, just what it was used for)

    Has anyone heard of anything like this before? Why would they do it?

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