How Brexit could put the brakes on revved up car sales – Telegraph.co.uk
Sales of new cars in Britain are revved up to the max.
New-car registrations – a proxy for the number of cars being driven off dealers’ forecourts for the first time – hit a record 2.63m in 2015, the fourth consecutive year of growth. Despite worries about Brexit and its potential economic impact, sales have continued to motor upwards, putting 2016 on track for a new record.
New-car sales are expected to blow past 2.7m when industry body the Society of Motor Manufacturers and Traders (SMMT) collates the annual data in the new year.
A variety of factors have driven the remarkable run. A strong pound meant cars produced abroad but sold in the UK are more profitable, giving manufacturers more room to offer deals. Weak demand in other European markets resulted in car makers directing supply to where their vehicles were selling. Finally, cheap finance deals mean cars have never been more affordable….