CONSUMER confidence needs a boost if we are to beat the sales slump.
That’s the message from car dealers’ national representative, the RMI National Franchised Dealers Association.
‘While consumers confidence remains low, all retailers, including car dealers, will find trading conditions tough, so it is essential that the Government works to return stability and confidence to the whole economy,’ said Sue Robinson, director of the RMI NFDA.
‘With consumer confidence at such a low ebb, September’s car sales figures are not a surprise in many respects. There is a real need for the Government to take action, so that consumer confidence does not fall any further.
‘For the economy to recover, interest rates must be cut, confidence needs to be returned to the banking system, and consumers need to feel safe in their jobs. However, it is vital that the impact of any interest rate cuts reaches the consumer for there to be any effect.
‘Lower interest rates will help bring stability to the economy, reassure consumers, and help business. In the long run it is good for the economy.’