Tags: EU | Britain | Economy

UK Car Sales Fall again amid Ongoing 'political Instability'

Wednesday, 05 June 2019 05:38 AM

LONDON (AP) — The lobby group for Britain's automotive industry says the country's new car market slid back further in May as consumer and business confidence continued to be affected by what it terms "underlying economic and political instability."

The Society of Motor Manufacturers and Traders said Wednesday that car sales fell by 4.6% during the month to 183,724 units.

Samuel Tombs, chief U.K. economist at Pantheon Macroeconomics, said the continued weakness of car sales in May, "after a dreadful April, partly reflects the decision by many consumers to complete purchases before the original March deadline for Brexit."

Britain was originally due to leave the European Union on March 29 but it has been granted an extension to the end of October after Parliament failed to pass a Brexit withdrawal agreement.

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The lobby group for Britain's automotive industry says the country's new car market slid back further in May as consumer and business confidence continued to be affected by what it terms "underlying economic and political instability."The Society of Motor Manufacturers and...
EU,Britain,Economy
130
2019-38-05
Wednesday, 05 June 2019 05:38 AM
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