New car sales have fallen to a 17 years low, according to the official SMMT figures.

Registrations may have plummeted by more than 21 per cent decline in September and the figure could well be as much as 25 per cent, The Times newspaper has learnt.

This would be the quickest decline in sales since 1991 and we all know what was going on with the economy then.

This downturn is affecting every new car sector, especially larger vehicles or cars with high running costs. Every sector has been hit with people scared off by buying new, instead preferring to find a better value for money option.

This decline is yet another kick in the teeth for an automotive industry currently ravaged by the credit crunch.

Many British manufacturers and retailers are announcing massive layoffs or complete closures.

When will we see this trend finish? Well in my opinion, not for some time!