New car sales in the UK have fallen once again, according to new SMMT figures released today showing a 12.2% year-on-year fall in the month of October.
It follows a year-on-year fall of over 9% in September. Experts now predict new car sales will fall in 2017, for the first time since 2011.
Commenting, Chuka Umunna MP, leading supporter of Open Britain, said:
“This is yet more evidence that the Brexit squeeze is already hitting working people and businesses alike.
“The rise in inflation – directly caused by the Brexit vote – has forced up prices and interest rates, deterring people from buying big-ticket items like cars.
“The British people were promised that leaving the EU would make us better off, when in truth it is hitting growth, raising prices, and squeezing family budgets. Voters have the right to keep an open mind about our future when they see that the darkening reality is so far away from the Government’s sunny rhetoric.”