New EU Car Registration Data Indicates Change In UK Outlook

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The European car market continues to grow, with demand for new cars increasing by 5.8% in Q1 (January – April) of this year; which equates to 2,378,965 units in total. However, this momentum is not reflective of the United Kingdom’s car market as new registrations are down 2.8% over this period. This data, in relation to the UK having a relatively low average vehicle age of 8.5 years, is an indication that owners are more interested in keeping their current automobiles rather than buying.

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