In one of the most striking signs yet of the conflicting pressures buffeting the automotive industry, some new cars are now selling more cheaply than used vehicles, the FT said. A shortage of good-quality used cars combined with aggressive discounts offered on many new ones by retailers and manufacturers now mean that some new cars can be had for as much as £1,000 less than used ones in good condition. Elsewhere, the woes of European carmakers were thrown into relief when Karmann, one of most famous names in the motor industry, filed for insolvency.

This entry was posted by Stacy-Marie Ishmael on Thursday, April 9th, 2009 at 4:39 and is filed under Capital markets. Tagged with Autos, UK. Edit this entry.