04.10.201904:41:00UTC+00UK Car Sales Decline On Brexit Uncertainty: SMMT

UK car sales declined in the first nine months of 2019 as Brexit uncertainty weighed on consumers' big ticket purchases, data released by the Society of Motor Manufacturers and Traders, or SMMT, showed Friday.

During January to September period, new car registrations dropped 2.5 percent from the same period last year.

In the year-to-date period, car market logged a registration of 1.86 million units which was about 49,000 less than the same period in 2018 to record the lowest performance since 2013.

It was in stark contrast to other major European markets, which this September rallied in double digits, SMMT said.

Nonetheless, car sales grew 1.3 percent in September on low volume in 2018.

Mike Hawes, SMMT chief executive, said, "September's modest growth belies the ongoing downward trend we've seen over the past 30 months." Consumer confidence is being undermined by political and economic uncertainty.

"We need to restore stability to the market which means avoiding a 'no deal' Brexit and, moreover, agreeing a future relationship with the EU that avoids tariffs and barriers that could increase prices and reduce buyer choice," Hawes said.