Female's car insurance news
11/02/2009

Less new cars; more motor manufacturing misery

As the economic downturn takes hold, motor cover providers are likely to see a downturn in sales of new car insurance; female drivers who usually buy a new model are likely to be keeping their old car longer, statistics show, as the recession takes full effect.

As a result, the motor manufacturing industry is announcing widespread financial losses and plant closures in this early part of 2009.

In the first week of February, Honda closed its plant in South Marston, Swindon for four months, such is the low demand for new cars, after revealing that net profit for the three months to December 2008 plummeted by 89%.

And Toyota, 2008's biggest motor manufacturer, announced recently that its expected loss for the financial year, to the end of March 2009, will be double an estimate that was released two months ago.

A spokesperson for CoverGirl, car insurance for female driver specialists, said, "Whether you drive a new car or an older model, buying cover from a dedicated woman's insurance provider can prove the cheapest option."