Something called Brexit happened earlier this year. You may have heard of it. Everyone was up in arms and there were strong voices on both sides of the camp on whether we should stay or not. As you are probably aware – well you ought to be anyway – we as a nation voted to leave the EU. This sparked a bit of a panic of what would happen next and it looked likely this could affect the car market.
Business as Usual
But no, here we are a few months after and it seems as if nothing has changed and new data from Motors.co.uk is able to back that assumption up. The car buying website asked UK buyers to see if their attitudes had changed and only 3% of those asked stated they were discouraged to buy a new car. Just 4% stated they were worried about how Brexit would affect monthly finance payments and just one in 10 buyers said the ‘leave’ result had affected the timing of buying a new car.
“Understandably, there has been a lot of speculation about how June’s referendum result will affect the UK economy, and the automotive industry has been no exception. However, 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”, commented Dermot Kelleher, Director of Marketing & Business Intelligenceat Motors.co.uk.
He added: “The survey has underlined that consumers are primarily looking for value for their money and are ready to make a purchase if it’s a good deal for them. At Motors.co.uk we have developed our website to give consumers the choice they need to make the right decision for them, and we will continue to work closely with our dealers to provide them with the insights they need about their potential customers.”