By Jamie Barrie T he economic uncertainty of Brexit has not drenched the thirst of U.K. consumers for new cars. Research from Motor.co.uk suggests that most have not changed their car buying attitude. The car search buying guide conducted their 2016 Car Buyer Survey and found that despite the chaos of the U.K.’s decision to leave the European Union, only 3 percent of consumers have been discouraged. 2015 was the best-selling year on record for U.K. car sales according to Auto Express Magazine. There were 2.6 million units sold last year which is an 8.4 percent increase over 2014. The survey also found that only 10 percent of drivers felt the EU referendum would alter the timing of their next new car purchase. Less than 4 percent of those who responded to the questionnaire were worried about making financing payments on a new purchase. Dermot Kelleher is the director of marketing and business intelligence at Motors.co.uk. Kelleher is clear that there is uncertainty in the U.K.’s economy after
the vote to leave the EU saying “there has been a lot of speculation about how June’s referendum result will affect the U.K.’s economy, and the automotive industry has been no exception.” The good news for Kelleher, and others tied to automo- tive sales, is that Brexit is not impacting their industry. He said “we are delighted to see that the prospect of Britain leaving the EU has not hindered the nation’s attitude to buying cars and this is great news for our dealers.” Kelleher elaborated further on the survey and said analysis shows consumers are primarily looking for value for their money when it comes to buying a new car. That means incentives and financing deals are key to continued growth. According to Kelleher when they find the right deal buyers are not afraid to pull the trigger on a purchase. Often that car is a Ford. The Fiesta is the number one selling car in the U.K. primar- ily because of the energy rating. It’s advertised at 85 mpg and emits so little carbon dioxide that it is exempt from the U.K. road tax.
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SPOTLIGHT ON BUSINESS • NOVEMBER 2016
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