February 6, 2017 / 9:15 AM / 8 months ago

UK new car sales rise 3 percent in January

LONDON, Feb 6 (Reuters) - British new car registrations rose 2.9 percent in January, a car industry body said on Monday, spurred on by the first annual increase in demand from private consumers for 10 months despite fears Brexit would cool sales.

Car sales hit 174,564 units last month in Europe’s second largest market, the Society of Motor Manufacturers and Traders said on Monday, boosted by a 5 percent increase in sales to individual consumers.

Analysts predict the British car market will shrink by around 5 percent after two years of record high demand and due to the Brexit-related fall in the pound pushing up the price of some models and causing wider uncertainty. (Reporting by Costas Pitas; editing by Michael Holden)

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