- Amid the ongoing chaos of Brexit, there is a big disappointment from the UK’s Auto industry, the nation’s car sales have fallen to a six-year low of 2.3 per cent year on year in 2019 to about 2.3 million. It’s the last recorded worst year for the UK car market since 2013 when sales stood at 2.26 million.
- As per the preliminary figures from the Society of Motor Manufacturers and Traders, the new car registrations during the year declined by 2 per cent in 2019 to 2.31 million.
- While Brexit was the prime concern for the industry, the consumers held back from purchases amid increased restrictions on diesel vehicles after Volkswagen’s emissions scandal.
With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities.
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