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Market Outlook: Car sales crash

Diesel blamed

Today the Society of Motor Manufacturers and Traders released data for UK March sales, showing an overall drop of 15.6 per cent from the record high this time last year. Sales of diesel sales dropped by over a third in what is an important month for sales as number plates change.

Credit rating agency Moody’s yesterday cut Barclays plc debt rating by a notch, taking it to Baa3, just one tiny step from a junk rating. The downgrade is due in part to last month’s move changing its legal structure because of the need to comply with ring-fencing rules.     

DAX 30

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