UK car sales logged its biggest fall in eight years in 2017, the Society of Motor Manufacturers and Traders reported Friday.
Car sales declined 5.6 percent to 2.54 million units in 2017. This was the biggest decrease since 2009. At the same time, demand for diesel cars plunged 17 percent.
The industry body forecast 5-7 percent decline in overall sales during 2018.
SMMT Chief Executive Mike Hawes said the decline was caused by the weakness in both business and consumer confidence as well as the confusion around the future of diesel vehicles.
However, Hawes said last year’s performance was followed by two years of record sales.
The material has been provided by InstaForex Company – www.instaforex.com
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
