Personally, I'm surprised it wasn't obvious a lot sooner. The economy is already in a bad state, and it's just going to get worse. I think that car purchases and registrations are going to decline as people begin to hold back on spending.
With the increased value added tax, people are getting wise-spender. It's really unfair for many people because the VAT increase doesn't proportionate their salary increase if there is any. So, it doesn't make me wonder why the slump in car sales.
It's the economy, obviously. I think I read somewhere in this forum that it's the used car business that's experiencing a rise in business these past few years.
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Car sales slump
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