British people have suddenly stopped buying cars and as BI’s Jim Edwards notes, it’s not clear why.
As the following chart from Barclays shows, both new- and used-car sales have collapsed…
While the slump in consumer confidence remains a major factor…
as BI’s Jim Edwards notes, a number of other factors are colliding simultaneously to hurt UK car sales:
UK car sales are especially vulnerable to fluctuations in demand because Britain’s excess right-hand drive cars cannot be shipped to other areas of Europe, which use left-hand drive models.
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