State Loan Subsidies to Soften Car Market Fall

Auto loans growing longer

New state loan subsidies could help automakers sell at least 80,000 more cars this year, consultant PricewaterhouseCoopers said Tuesday.

That means that the market for new cars would shrink no more than 3 percent, a big improvement on the company’s previous estimate.

Interest rates on car loans recently reached 16 percent, fueled in part by the growing proportion that are overdue.

Manufacturers are facing a grim global environment. Sales fell in most of Europe and in a number of other key markets in the first half of this year, compared to the same period last year. China, the U.S., Brazil and Britain posted strong growth.

Advertisements

Posted on July 31, 2013, in Cars. Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: