Latest UK figures and sector cutbacks escalate sense of urgency

A steep drop in UK light vehicle sales, double-digit declines in production volumes and a series of OEM cutbacks are escalating the sense of urgency surrounding Europe's second largest automotive market. In the first quarter (Q1) this year the UK reported the steepest decline in new vehicle volumes among the Europe-27, with volumes down 12.4% year-on-year. In March alone sales dropped 15.7%, according to data from Jato Dynamics. "The UK continues to hold back Europe and is hampering overall growth, reflected by its poor performance in March and for the quarter overall," commented Felipe Munoz, Jato’s Global Analyst.