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Consumers remain confident of car buying decisions despite Brexit vote

Terry-Hogan

June's referendum vote to leave the EU has not impacted buying decisions that come when purchasing a car. 

In a snap survey by Motoring.co.uk, more than 70% of consumers surveyed by the website said that Britain’s decision had not affected the type of car they would purchase and a further 73% said the result had not changed when they planned to purchase.

Some 76% claimed that the result has not affected how the plan to finance a car, but 22% of consumers believe that the referendum has impacted how much they would be willing to pay for a car.

Terry Hogan (pictured), co-founder of Motoring.co.uk, said: “Since the vote to leave the EU in June, speculation about how the UK’s economy will be affected has plagued the headlines and automotive is no exception.

“Despite some car manufactures stating they will increase prices, the majority of vehicles now being purchased via attractive finance package coupled with lower interest rates means any incremental increase in car prices won’t be felt as much over three or four years.

“The survey results clearly show that UK car buyers are looking for value for money and are ready to purchase, if they consider it a good deal for them.”

There were 324 responses in the survey.



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