September, one of the two months each year when new licence plates are issued, is traditionally a bumper month for new car sales. And this year, despite Brexit, the industry is not disappointed.
According to the Society of Motor Manufacturers and Traders (SMMT), the vote to leave the EU has not affected the UK motor industry, Europe's second-biggest car market. Sales hit a new record with new car registrations rising 1.6 per cent year on year in September. A fall in sales to individual buyers was counteracted by the strong demand from business buyers.
Commenting on the findings, Mike Hawes, Chief Executive of SMMT, said: "The ability of the market to maintain this record level of demand will depend on the ability of government to overcome political uncertainty and safeguard the conditions that underpin consumer appetite."
At Beavis Morgan, our specialist advisers to the motor manufacturing sector are able to assist with business growth and optimisation. Our Research & Development (R&D) tax credits team have also made a significant number of successful claims on behalf of clients in this sector.
Contact Steve Govey or your usual Beavis Morgan Partner for further information about how we can assist you and your business.