Christopher Macgowan Year Quotations

So far this year the market has suffered from two things; firstly a surge in demand for diesel cars distorting the market at the end of 2005 and secondly weaker consumer confidence.

We expect 2006 to be another tough year for the industry. Dealers will continue to fight hard for every sale.

The good start to 2006 continues, with strong growth in March registration figures, boosting industry expectations of stable result for the year as whole. 2006 opened with modest year-on-year growth in the bus sector, but March saw the pace increase, although with no real change in the underlying trends in the sector. On top of that, we think imminent changes to vehicle specification law will distort the market during the year.