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SMMT figures – Barclays comment

Ian Gilmartin, Head of Retail & Wholesale at Barclays, comments on today's SMMT figures.

“A collective ‘ouch’ will be heard through the industry this morning as getting September right is vitally important for the new car market. That said, September was a far from normal month for the sector with new testing requirements impacting supply and blurring the picture. Also, following hot on the heels of an unexpectedly robust set of August figures, today’s data has to be viewed in context as backlogs will inevitably ease and consumers will be presented with an even wider range of new-tech cars to grab their attention.

“With car manufacturers focused on ensuring they are in line with new regulations and given the reluctance of buyers to commit to big purchases, in part due to Brexit uncertainty, it does look likely that as year-end approaches we’ll be down on 2017 for full-year sales.”
Notes to editors

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Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 80,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

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