The UK’s exit from the European Union will prompt an increased decline in new car and LCV registrations to 2018 than originally forecast.
Automotive industry analysts at IHS have predicted a reduction in vehicle sales and manufacturing for the UK and Europe as OEMs respond with caution to last week’s Brexit vote.
Car registrations in the European Union (EU) went up 16% year on year during May, with optimism the growth should continue despite economic and political challenges.
Probably most importantly for the development of the UK passenger car market, the Bank of England looks unlikely to raise interest rates until well into 2017.
European car sales are experiencing an SUV sales boom which has seen a 25% rise in Q1 of 2016, figures published by JATO Dynamics reveal.
Vehicle registrations in Western Europe could see a rise of 2.5 to three per cent in 2016 as global sales approach 90 million units, IHS Automotive has predicted.
New car registrations in the EU increased 14.6% in June compared to 2014, marking the largest monthly increase since December 2009.
Automotive Management Live: Where franchised and independent dealers will find everything they need to know about operating a modern showroom and service and repair facility fit for the digital age.
When: November 12 2020
Where: Birmingham NEC
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