Tory Brexit No Deal DOOM™: Cars

[AtW]

Car dealer Pendragon warns on profits as consumer demand 'wanes'

Car dealer Pendragon has sounded the alarm about health of Britain’s automotive industry, issuing a profit warning it blamed on falling demand for new cars and lower prices in the used market.

The warning - which came in an unscheduled update that also revealed Pendragon chairman Mel Eggerton was stepping down with immediate effect - sent shares in the company down almost a fifth.

Concerns about motorists’ willingness to splash out on new vehicles also dragged down peers, with Inchcape and Lookers dropping almost 5pc.

The warning comes as industry sources say that new car registration figures are “bloody”, with another big drop expected when the monthly data are issued at the start of November. Uncertainty caused by Brexit and the weaker pound are being cited as the main causes of the slowdown.

Pendragon - which owns the Evans Halshaw and Stratstone dealerships - said it now expects to post a pre-tax profit of £60m in 2017 against market expectations of £75m, and some £15m below last year’s figure.

Profits are forecast to start to rise again in 2018, the company said. It added that during September "as consumer confidence waned, we experienced significant market pressure".

Car dealer Pendragon warns on profits as consumer demand 'wanes'

Tory-Brexit-No-Deal DOOMED™!

[original PM]

"Uncertainty caused by Brexit and the weaker pound are being cited as the main causes of the slowdown."

In 100 words or less explain why your next car purchase will be influenced by Brexit.

[BlasterBates]

"because the boss told me they're moving the HQ to the EU next year and I will have to look for another job"

[AtW]

In 100 words or less explain why your next car purchase will be influenced by Brexit.

I don't want to buy an RHD Ferrari just in case I'll be forced to move out of UK.

HTH

[greenlake]

I don't want to buy an RHD Ferrari just in case I'll be forced to move out of UK.

HTH

Hope THIS helps....

[original PM]

"because the boss told me they're moving the HQ to the EU next year and I will have to look for another job"

I don't want to buy an RHD Ferrari just in case I'll be forced to move out of UK.

HTH

I should try that again

in 100 words or less provide a sensible explanation of why the average UK citizens next car purchase will be influenced by Brexit.

[AtW]

I should try that again

in 100 words or less provide a sensible explanation of why the average UK citizens next car purchase will be influenced by Brexit.

Your original question was -

"Uncertainty caused by Brexit and the weaker pound are being cited as the main causes of the slowdown."

In 100 words or less explain why your next car purchase will be influenced by Brexit.

I've answered it.

Now you are changing the question, typical Brexiter.

I'll answer that one too though - for average UK citizen buying (or more like renting for 3 years via PCP) car is too risky given uncertainty of Brexit: for most people getting car is 3rd biggest financial commitment of the lives (1st being marriage, 2nd - buying house)

[WTFH]

I should try that again

in 100 words or less provide a sensible explanation of why the average UK citizens next car purchase will be influenced by Brexit.

Many of us on here are contractors/business owners, we probably don't count as "average UK citizens".

Why would people be concerned about making large outlays in depreciating products?
Because of uncertainty. The government has no clue where they are going to take the country. It's not about what the EU asks for, it's about what the UK government negotiates. (something that some Brexiteers don't seem to understand)
If the government has no clue, then this uncertainty affects businesses and individuals.

Until there is some certainty and some stability, then many people/businesses are reluctant to make big outlays.

[Hobosapien]

Car sales dropping as everyone is tied into a 3 year lease deal. Solution, only offer 1 year leases.

[original PM]

Many of us on here are contractors/business owners, we probably don't count as "average UK citizens".

Why would people be concerned about making large outlays in depreciating products?
Because of uncertainty. The government has no clue where they are going to take the country. It's not about what the EU asks for, it's about what the UK government negotiates. (something that some Brexiteers don't seem to understand)
If the government has no clue, then this uncertainty affects businesses and individuals.

Until there is some certainty and some stability, then many people/businesses are reluctant to make big outlays.

Do you think the average UK citizen takes any of that into account when they are looking at their next ford focus?