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| UK car sales fall 9.3% in July says motor trade body | |
| (35 minutes later) | |
| New car registrations fell 9.3% in July from a year earlier, according to the Society of Motor Manufacturers and Traders (SMMT). | |
| The trade body said the market was falling - for the fourth month in a row - amid "growing uncertainty" over plans for Brexit. | |
| About 162,000 vehicles were sold last month. | |
| So far this year, 1.56 million cars have been sold, down 2.2% from a year earlier. | |
| Mike Hawes, SMMT chief executive, said: "The fall in consumer and business confidence is having a knock on effect on demand in the new car market and government must act quickly to provide concrete plans regarding Brexit. | Mike Hawes, SMMT chief executive, said: "The fall in consumer and business confidence is having a knock on effect on demand in the new car market and government must act quickly to provide concrete plans regarding Brexit. |
| "While it's encouraging to see record achievements for alternatively fuelled vehicles, consumers considering other fuel types will have undoubtedly been affected by the uncertainty surrounding the government's clean air plans." | "While it's encouraging to see record achievements for alternatively fuelled vehicles, consumers considering other fuel types will have undoubtedly been affected by the uncertainty surrounding the government's clean air plans." |
| The government said last month it was to ban all new petrol and diesel cars and vans from 2040 amid fears that rising levels of nitrogen oxide threaten public health. | The government said last month it was to ban all new petrol and diesel cars and vans from 2040 amid fears that rising levels of nitrogen oxide threaten public health. |
| Delayed impact | Delayed impact |
| Samuel Tombs, chief UK economist at Pantheon Macroeconomics said the continuing fall in sales showed consumers were now holding back on "big-ticket purchases" because of a lack of confidence rather than just a shift in the timing of purchases. | Samuel Tombs, chief UK economist at Pantheon Macroeconomics said the continuing fall in sales showed consumers were now holding back on "big-ticket purchases" because of a lack of confidence rather than just a shift in the timing of purchases. |
| Earlier this year, many customers had brought forward car purchases ahead of changes to Vehicle Excise Duty in April. | Earlier this year, many customers had brought forward car purchases ahead of changes to Vehicle Excise Duty in April. |
| Mr Tombs warned that financial deals to buy cars may become more expensive, and the price of cars could rise by about 3% in both 2018 and 2019 because of the weaker pound. | Mr Tombs warned that financial deals to buy cars may become more expensive, and the price of cars could rise by about 3% in both 2018 and 2019 because of the weaker pound. |
| "Car sales tend to lag consumer confidence by about six months - many of the cars registered in July will have been ordered several months ago - so the recent post-election slump in sentiment indicates that the downturn has further to run," he added. | "Car sales tend to lag consumer confidence by about six months - many of the cars registered in July will have been ordered several months ago - so the recent post-election slump in sentiment indicates that the downturn has further to run," he added. |