UK car sales fell slightly in July after Brexit: preliminary data

[LONDON] British new car registrations fell marginally in July, the first time sales have fallen two months in a row for four and a half years, preliminary industry data covering the first full month since the Brexit vote showed on Thursday.

The Society of Motor Manufacturers and Traders will publish full data at 0800 GMT but it said there appeared to have been a less than 1 per cent year-on-year decline in July.

Registrations grew for 43 consecutive months from March 2012 but the run ended in October last year when demand fell in the wake of the Volkswagen emissions scandal.

Sales picked up afterwards but fell again in June when Britons voted to leave the European Union, the first decline this year.

Car deliveries typically occur several weeks after purchase decisions so there is normally a lag in recording any changes in demand, but dealers and manufacturers tend to push hard at the end of each month to boost figures, meaning Brexit could have hit demand.

REUTERS