Jaguar bucks the trend with increased sales figures

Amidst the widely-reported slow-down in sales of new cars, a number of firms have managed to increase their sales.

Figures from the Society of Motor Manufacturers and Traders (SMMT) show that Jaguar, Dodge and Volvo had managed to improve volumes in October.

Most manufacturers, however, experienced a decline in sales: in fact, the overall drop of 23% - equating to a total of 128,352 new car registrations - is the most dramatic fall for 17 years. Sales of Land Rovers fell by a stunning 58% in October.

SMMT chief executive Paul Everitt, said: "October has proved another difficult month for the British motor industry and action is needed to help restore consumer confidence and encourage buyers back to the showrooms.

"Cuts in interest rates that are swiftly passed on to consumers, scrapping planned increases in vehicle excise duty and maintaining public expenditure on new vehicles are essential parts of the package required by industry."

Jaguar and other car manufacturers will soon discover whether Mr. Everitt's forecast was correct: the Bank of England has cut the base rate by 1.5% in a surprise move. Today, banks were ordered by the Chancellor to pass those cuts on to customers. Whether this will result in car finance becoming available to consumers so they are able to purchase new cars remains to be seen.

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