Little sign of car-buying Brexit jitters
By Mark Salisbury
Wednesday, June 27, 2018 - 11:18
Brexit is having almost no impact on consumers’ car purchase plans, according to a new survey of more than 1,000 motorists.
With less than nine months to go before Britain leaves the European Union an overwhelming majority of consumers say Brexit does not figure in their next car purchase decision.
Despite continued uncertainty about a ‘deal or no deal’ departure next March 80% of motorists told online motor retail specialist BuyaCar.co.uk replied ‘not at all’ when asked whether Brexit was affecting their car-buying intentions.
Only around five per cent report that they are now delaying a purchase decision while a further 11% say they will ‘wait and see’ whether Brexit makes any difference to their economic circumstances.
It’s the second time BuyaCar.co.uk has surveyed car owners since the referendum on Britain’s membership of the EU two years ago and the responses have barely changed in that time.
There is a small difference between younger and older car-buyers, with people up to the age of 34 more likely to report that they have already delayed a car purchase on the basis of Brexit uncertainty but this represents only 6.5% of those questioned.
BuyaCar.co.uk has seen record growth in online car buying over the past three years, with sales so far this year 120% up on the same period during 2017.
Austin Collins, Managing Director of BuyaCar.co.uk, said: “Despite growing unease among many large businesses about the economic arrangements with the EU when Britain leaves next year the vast majority of online car buyers seem to be unconcerned.
“And when we asked almost 1,000 of our customers, after Article 50 was triggered, whether Brexit would affect their plans the answer for the overwhelming majority was clearly ‘no’.
“Many customers seem optimistic about Brexit and others don’t think it will have an impact until we actually leave the EU, so they are happy to continue buying for now.”