UK Car Market Will Recover in 5 Years

As a consequence of the economic recession, sales of new cars aren't expected to recover at least for five years in the U.K. An answer to that is to invest in the used car market, an option Spain and Italy went for during the last recession.

"My belief is that it will take five years for new car sales to return to where we were last year at pre-credit crunch levels," Toyota GB managing director Miguel Fonseca said. He also said that he is certain of these things based on his experience in working for Toyota both in the UK as well as other countries.

"We have our forecasts for the next 24 months, but it is very difficult to forecast further. After two years I think there will be a slow recovery, but my own belief is that it will be five years before we are back where we were."

In the United Kingdom it is reported that Toyota will launch next year a range of six new models, which will include the redesigned Prius petrolectric hybrid. "These difficult market conditions will be an opportunity for us to gain market share as other manufacturers weaken but our total sales are not likely to increase." Why do we have the feeling that probably next week there will be another statement in which Toyota will beg for money? Call us cruel but considering the harsh times we now live in everything is possible.