London – 05 April 2018
Commenting on the new vehicle sales statistics for March, Maxime LeMerle, Head of Insolvency and Sector Research at Euler Hermes, the world’s leading trade credit insurer, said:
The expectation of further interest rate rises, Brexit uncertainty and confusion over diesel taxation and air quality regulations will continue to put the pressure on UK new car sales in 2018. We expect to see a -6 per cent drop in new vehicle registrations as confidence data for March indicates a further contraction in future major purchases amongst uncertain consumers, despite their less negative expectations for the economic situation in the next 12 months.
However, while the UK automotive sector stalls, the EU market will continue to motor ahead with growth in new car sales expected to rise +2.2 per cent this year.
Notes to editors:
Infographics in pdf attached
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