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 Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam