The UK car market is down 5% throughout 2017 compared to the previous year and this trend is predicted to continue in 2018.
As quoted from The Telegraph, Monday (1/1/2018), while the calculation shows new car sales last year as many as 2.56 million units. The decline was due to the unstable economic conditions post Brexit, the government’s policy on diesel vehicles, and the increase in motor vehicle taxes.
As for The Society of Motor Manufacturers and Traders (SMMT) had three times to revise the 2017 annual target. In 2018, SMMT predicts new car sales will fall back in the range of 5% to 2.43 million units.
Nevertheless, automotive industry observers estimate sales could fall further. “It’s simple, because the UK market has too many offers,” said David Bailey, automotive expert from Aston University.
He added that the post-Brexit economic slowdown is still overshadowing Britain. The increase of imported goods price due to weakening of pound sterling can not be overcome.
“I see the market in the UK could fall 5% -10% in 2018. No negative factors can be eliminated,” he said.