‘UK car sales have peaked – but it’s not all doom and gloom’ – Telegraph.co.uk
In the six months to the end of February, revenue climbed 11pc to £309m, while underlying profits spiked 22pc to £5.6m.
However, the period does not cover March, when the UK car market experienced a surge in demand ahead of new tax rules which came into force in April, and sent sales crashing by more than a fifth.
“March was a pleasant surprise being the biggest on record but April was pretty bad,” said Mr Lavery, predicting sales down 10pc on the year would be the “new normal”.
“You’ve got uncertainty from the election, Brexit and rising inflation – the market has peaked,” he added.