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Classic Motors GM: Car sales still good
Local car dealership Classic Motors continues to perform well despite the slowdown in the T&T economy and decline in consumer spending.
Daryl Young, general manager of the Ansa Motors subsidiary, told the T&T Guardian: “Our sales are very good. In the last year we have almost doubled what we had as market share. I would like to say that the future looks good for us at this point in time.
“We are still selling over a 1,000 new cars a month. I think what is happening is people are going to look for the best bang for their buck. They are going to look to maximise the value for their purchase. At Ansa Motors, we have seven of the best brands anywhere in the world, so we have something for everyone here.
“It’s going to be a matter of how much of the market you want and everybody is going to go fighting for their share.” Young said existing clients are visit the company’s showrooms to explore upgrades and prospective clients are excited about the lines on offer. The Honda City CNG bi-fuel (sedan) is a large part of the company’s success, he said, supported by the new compact sport utility (SUV) vehicle, the HR-V.
“It is the first time we have an SUV under $290,000 VAT inclusive in T&T, which again puts the SUV is a price bracket that is a little more attractive. That’s doing very well,” Young said. In August the company unveiled its new model Honda Civic, which Young described as a radical departure from the original.
“They arrived on August 30 and if you wanted one you’d have to wait six weeks. The models lined-up are now refreshed, sexy, strong, and people are looking at them and gravitating to us,” he said Young said while there has been “a little tightening” in the sector, “cars are being sold.”
On the issue of resale value associated to automobiles, Young many consumers didn’t think five years down the road when making a purchase, so they don’t get the value they expected.
“With Honda vehicles you have a very strong re-sale value because the vehicle is dependable,” he said.
Young said owning a car in T&T is an illustration of how well an individual is doing and there are many factors that make a car something an individual would want to buy.
“When people turn 17, the first thing they do is go get their license. It’s a part of our culture. Cars will always sell. The sales may take a dip, TT (the sector) may contract because things are tight, but there are still heavy sales. The market has grown. There are more players in it, so you push harder now for you space, but its’ there,” he said.
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