Biggest Drop in UK New Car Sales Since 2009

British new car sales recorded their biggest drop since 2009 last year, falling 5.7 percent due to uncertainty over potential new diesel charges and weakening consumer confidence since Brexit, an industry body said on Friday.FDemand for new diesel cars plunged 17.1 percent, and with some buyers switching to petrol motors, average CO2 emissions for new cars rose for the first time in two decades, the Society of Motor Manufacturers and Traders (SMMT) said.Total registrations ended 2017 at 2.54 million, with drops among both business and private consumers, and are set to fall up to 7 percent this year, the SMMT forecast.

Source: UK new car sales record biggest drop since 2009 – Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.