Vehicle Sales Are Down Overseas, Too
For carmakers, the incredible sales loss last month wasn’t just isolated to the U.S. The U.K. witnessed sales of new cars go down 21% in September, which is the fifth month in a row where new-car sales have fallen. Consumers have become nervous to purchase new vehicles because of the poor economy, therefore, many people are holding onto their old cars and purchasing used car warranties.
Just like in America, the sales drop occurred regardless of many new vehicle models coming out on the market. Other countries that experienced a fall in sales were Italy and Spain.
Even in China, which was car-crazed recently, sales dropped 26%, which is the biggest drop over the last 50 years.
One of the only countries that have seen an uptick in the sales of new cars was France, which saw an increase in sales of 8% in September. In part, this was due to the governmental aid of the purchase of cars that are less polluting. Usually, those vehicles are French brands.