The second hand market gets a kick by the budget

The new 2008 budget will significantly decrease family’s incomes all over the UK. Experts say that 3 out of every 4 family cars sold are second hand and since they send out more co2 emissions they are also more likely to be suffering the new car pollution tax. Families are not the only ones who will suffer; second hand car dealers will be seeing a significant drop in profit also. The chancellor stated that the changes to the vehicle excise duty were to make “manufacturers produce cleaner cars”, but this tax will be affecting more then the environment and in a price elastic market (in most cases), car dealers will need to think fast on new sales techniques.

Matter of fact, this will have a massive downturn or a upward effect in the whole economy, as a whole that is.