According to the Society of Motor Manufacturers and Traders, the automobile industry is facing a slowdown in the UK. The number of new car registrations this year has been the lowest since 2013.
On a year-to-year basis this was the third consecutive sector that the sector has shown a downward trend and it is expected that the same run might continue in 2020 as well.
Experts are saying that the slowdown in the buying of new cars in the market is mainly due to low consumer confidence and confusions on the ever-changing rules in the carbon emissions in the automobile industry.
The new legislation and rules require a switch over to the use of electric cars and hybrid cars most of which are still very costly for the average person and beyond affordability.
SMMT chief executive Mike Hawes says that the major reason is something different. He blames that the fallout from Brexit is the biggest reason behind the slowdown of the automobile sector and the most imminent cause of danger as well for the UK automobile industry.
According to the figures released by SMMT, the number of new car registrations registered in 2019 was 2.31 million down by 2.4 % from previous year.
The drop in the number of diesel-powered vehicles dropped by 22% from 2018 which should be good news for the people due to lower carbon emissions. Previously the number of diesel-powered vehicles were almost half of the total number of vehicles being bought they are currently holding less than a quarter of the new cars sold.
The combined effect of confusion among the people that the diesel-powered vehicles would be banned completely in the near future and the delay in Brexit deal means that retail customers have held on to their plans of buying new cars.
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