"Clarity, consistency, confidence and economic stability are required to turn around the fortunes of the UK new car market. The UK new car market declined in 2019, with annual registrations falling for the third consecutive year, representing a -2.4% decline. Registrations from consumers are down -3.2%.
"The car market has continued its downward trend, reacting to a series of adverse factors including geopolitical pressures, weak business and consumer confidence and confusion over rules relating to clean air zones.
"New CO2 emission standards are being introduced in 2021 and consumers are holding off from making purchases, unclear about which cars to buy. Electric vehicles are too expensive. Manufacturers need to deliver electric vehicles at affordable prices for the mass market. With Brexit on the horizon, there is continued uncertainty within British car manufacturers about what tariffs will be imposed on car components which need to be imported from the EU. The changing face of car ownership and the increasing popularity of ride hailing is exacerbating this downward spiral meaning that car manufacturers in the UK will be feeling the heat for some time."
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