New Car Prices Could Rise By 22 Percent Due To Brexit

Wed 27th Feb 2019

New car prices will rise on average by £8,000 if the country is faced with a no deal Brexit at the end of the March.

The stark figures have been predicted by Carwow which has developed a tool which looks at the potential price rises for individual car manufacturers.

Whilst not all cars will be affected by Britain’s exit from the European Union, some premium models which would face heavy import taxes could rise significantly, especially from cars such as Volvo, BMW, Mercedes-Benz and Audi. Whilst £8,000 could be the average rise, some more expensive brands could have even bigger increases, for example a Maserati is expected to rise from £67,000 to £81,000 and an Alpine A110 could jump by £10,000.

Volkswagen has already foreseen these issues and earlier this year announced that prices would like increase by around £10,000.

The survey also reveals that one in eight drivers think that the weeks leading up to Brexit will be a good time to buy a car with deals expected on the forecourts of Britain.

Alex Rose, Trading and Supply Operations Director at carwow, says: “The one certainty about Brexit is that things are not going to get better for the car industry quickly and the car-buying public are feeling apprehensive – they have been for some time now.

“The prices being put on new models in the aftermath of Brexit vary wildly, which is why we have tried to give motorists some clarity with our price prediction tool.

“However, the flip side of all of this is that the uncertainty around post-March car prices and the great deals to be had in the next five weeks mean this is an opportune time to buy a new car.”