Economic Buzz: UK Car Market Remains Lax This Year

UK car demand increased in May as market continued to re-balance following large declines in 2017, the Society of Motor Manufacturers and Traders (SMMT) said Tuesday. Car sales rose 3.4%year-on-year to 192,649 units in May. This follows a substantial 8.5% decline in the previous May. However, in the year to date period, the market remained slack, with new registrations dropping 6.8%, as economic and political uncertainty continues to hurt buying decisions.