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UK faces £1bn car sales cut

The uncertainty linked to the Iraq War and terrorism is hitting car buyer confidence and has cut March UK car sales by 30 per cent, according to data released by CarPriceCheck.com.

And the independent car price monitor claims that the dip is closer to 65 per cent between the key dates of 12 to14 March when hope of a peaceful diplomatic settlement disappeared.

Last March, the UK registered a record 423,727 units with private buyers making up 52.9 per cent of sales.

If confidence fails to recover, CarPriceCheck estimates that during March and April nearly £1bn could be lost from a market which has already seen year-on-year sales dip by 10 per cent.

Says CarPriceCheck MD Steve Evans: "Unless consumer confidence rallies during the last ten days of the month, it is entirely possible that somewhere between 60-80,000 sales will be wiped off the books in March and April."

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