The global auto market is expected to see a whopping $3.9 trillion in new car sales, with the UK’s auto market projected to reach $1.8 trillion, up by 20% from last year, according to the Auto Industry Association.
The auto market in the UK is expected hit the lowest point in two decades, as the Brexit vote sees fewer people moving from the UK to other European countries.
In the US, the auto market will hit its highest point in a decade, with sales expected to hit a record $5.2 trillion.
The UK’s sales are expected to grow by 25%, and the US auto market’s will increase by 30%.
The UK and the EU are expected by the Association to share the most revenue with each other in 2020, according with an analysis by auto trade publication Auto Trader.
In addition, the UK will overtake the US as the top market for imported vehicles, with imports of new cars and trucks expected to reach 1.9 million in 2020.