Monday 23 October 2017

UK exit and rents blamed for drop in new-car sales

It now appears that 15,000 fewer new cars will be registered this year. Stock picture
It now appears that 15,000 fewer new cars will be registered this year. Stock picture
Eddie Cunningham

Eddie Cunningham

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.

Irish Independent

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