The UK’s used car market shrank by -18.8% during the second quarter of 2022, with 1,759,684 transactions taking place, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). Some 407,820 fewer vehicles changed hands compared with the same period last year, although the scale of this decline was […]
While weather-wise it has been a scorching month for Britain, the new car market has been feeling the drought in registrations for far longer. The latest figures published this week show that new car registrations fell by -9.0% in July as global supply chain shortages continue to frustrate order fulfilment. This is the fifth consecutive […]
The UK’s new light commercial vehicle (LCV) market declined for the seventh consecutive month in July, down -20.7% to 18,722 units, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT).2 The decline, despite strong order books, is the result of ongoing global supply shortages caused by the Covid-19 pandemic, […]
The automotive sector is yet to break free from the supply disruptions and semiconductor shortages caused by the pandemic back in 2020 but there are signs that the situation may be beginning to ease. Results out this week show that car production fell in the first half of the year – down by almost a […]
Engine production declines -12.7% in first six months of 2022, totalling 812,397 units. Year to date output for export falls -9.7%, while production for the UK is down -16.4%. Measures to reduce business costs, including energy, must be a priority to protect UK competitiveness and jobs. Mike Hawes, SMMT chief executive, said, “The global shortage […]
UK car production declined -19.2% in the first six months of the year, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT), with 95,792 fewer vehicles built compared with the same period in 2021. 403,131 units were built, representing the weakest first half since the pandemic-ravaged 2020 and worse than 2009 […]
For a technology revolution to befall an industry is not unusual. To experience two simultaneously is highly unusual. Yet that is the situation facing the automotive industry and this week has seen some developments on both. The most obvious and familiar is the transition to zero emission mobility – the biggest transformation since the invention […]
The vast majority of fleets purchase vehicles outright and then dispose of the assets privately once they have no more uses vehicles, a new study has revealed. According to RAM Tracking’s Vehicle Buying Survey 2022, just 41% of fleets said they defy fleet conventions and purchase vehicles outright. The second most popular method of funding […]
The classic and specialist car market is thriving – but is it in danger of over-heating? That’s the question Hagerty sets out to answer in its latest market analysis. The latest UK Hagerty Price Guide, published earlier this month, shows widespread gains, coupled with the US Market Rating being at a record high of 78.22. Looking […]
A tumultuous week in government against a backdrop of continuing uncertainty and instability for the industry, is highlighted by the latest registration figures. The semiconductor shortage stifled the new car and van markets in June, even more than last year’s lockdown. Disappointingly, new car registrations were down -24.3% to just 140,948 units, marking the month’s weakest car […]
28/07/2022
Edition 301 – June/July 2022
High quality By Business Money group editor Robert Lefroy Financial services...
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