In an eventful week, SMMT published its latest data on the UK’s new car market with positive news that EV demand grew almost a quarter in October. It’s a much needed boost, driven by a swathe of new models and unprecedented industry discounting, meaning one in five new EV models now has a lower purchase price than […]
Last week’s Budget was the perfect moment for the chancellor and her government to put a down payment on the UK’s future growth. After all, the automotive industry – a growth-driving, decarbonisation-critical sector in the midst of rapid technological change – has monumental growth potential in the near and long term. It was positive, therefore, […]
It is an outstanding achievement of the UK automotive industry that as we go through our biggest transformation in a century, we remain the nation’s number one exporter of manufactured products. As reported alongside SMMT’s latest manufacturing figures published this week, fresh trade data analysis shows UK shipments of cars, vans and components now make up […]
Commercial vehicle (CV) manufacturing output grew by more than a quarter (25.9%) in September as 14,643 vans, buses, trucks, coaches and taxis rolled out of UK factories, according to new figures published today by the Society of Motor Manufacturers and Traders (SMMT). Production bounced back to growth following a decline in the traditional low volume […]
This week’s long-awaited announcement of an industrial strategy, with government’s Invest 2035 green paper, presents a fresh opportunity to turbocharge UK industrial and economic growth. Automotive can be the driver of this and, as SMMT set out in our Vision 2035 report, with the right conditions has the potential to deliver an economic boost worth more than £50bn […]
Ahead of the Autumn Statement (30th October 2024), motor dealers have outlined the support measures they need to help their businesses. Selected amongst the top three measures, almost seven in ten (69%) dealers would like to see a VAT cut, according to the research by Close Brothers Motor Finance. The Forecourt Foresight findings found that […]
The UK’s zero emission vehicle (ZEV) transition came under fresh scrutiny today with the publication of the all-important plate-change month performance data. In good news, both the new car and van markets were up in September, but the scorecard shows there is still a job to be done. New electric car registrations saw a welcome […]
The UK’s banking sector is on the brink of a financial crisis due to a potential two-year delay in rolling out a redress scheme for mis-sold motor finance agreements, particularly Personal Contract Purchase (PCP) contracts. Sentinel Legal, the leading authority on PCP claims, is urging banks and lenders to pressure the Financial Conduct Authority (FCA) to […]
The annual party conference season moved to Liverpool this week as the Labour Party hosted its first as the party of power since 2009. We were pleased to meet with new and senior politicians to discuss how the UK automotive industry can support the national growth agenda and the country’s net zero ambitions. Central to […]
With the UK’s autumn political conference season underway, we were pleased to join the Liberal Democrats in Brighton this week amid an expectedly buoyant atmosphere following the party’s big increase in MPs in the general election. SMMT hosted a constructive roundtable with automotive businesses, MPs and peers to discuss industry’s priorities for the new parliamentary […]
