FX.co ★ UK car sales tumble ahead of general election

The car sales in the United Kingdom decreased by 8.5% in annual terms in May. The sales tumbled as the Britons were cautious to make any big purchases ahead of the general election.

The Society of Motor Manufacturers and Traders reported that the number of new registered cars was 186K last month.

In April this year, the UK car sales shrank by 20% as on the 1st of April a new tax was imposed on cars that cost more than 40K pounds.

In March, the car sales reached the record high on the back of expectations of a tax increase.

Year to date, the car sales in the United Kingdom fell by 0.6% to 1.158M.