UK exit and rents blamed for drop in new-car sales
Brexit uncertainty, high rents, the rising cost of living and health insurance are all being blamed for a falloff in new-car buying this year.
People don't have the money or the capacity to borrow for "big-ticket items such as new cars" because the other items are soaking up their finance, a special report warns.
The report is published alongside latest SIMI new-car registration figures which show a 7.1pc drop for July (27,748) - the first and biggest-selling month of the 172-reg period.
Sales for the first seven months are down 9.3pc to 118,925.
It now appears that 15,000 fewer new cars will be registered this year.