It has been a challenging first half of the year for UK automotive production as the sector continues to suffer from the effects of the global pandemic. Despite 498,923 units rolling off production lines since January – up 30.8% on the first half of 2020 – this represents a near 40% decline over the five-year […]
UK commercial vehicle (CV) production grew to 5,808 units in June according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). Production increased 39.6% compared to the same month in 2020, when many plants were operating at reduced capacity because of pandemic restrictions. However, overall production for the first half […]
A six-figure commercial mortgage from Allica Bank has supported the UK’s leading vehicle importing company in acquiring a new £900,000 operating site to satisfy the increasing demand for its services. Leicestershire-based My Car Import, which handles every stage of the registration and import process, wherever a vehicle is in the world, was previously operating out of three rented properties. Having grown by 70% in […]
Despite the coronavirus restrictions across the UK lifting on Monday, like many other sectors across the economy, automotive manufacturers, suppliers and services are being impacted by the growing number of coronavirus cases. The industry has taken every step to make premises Covid safe, but with transmissions rising outside the workplace, and self-isolation rules preventing staff […]
A Barnsley-based car body shop specialist has seen business demand speed up dramatically since opening its garage doors last July after receiving a financial boost from alternative lending provider Finance for Enterprise. Taylor’s Bodyshop called on support from Finance For Enterprise to help the business meet the setup costs, purchasing vital equipment, including high quality […]
The UK’s increasing reliance on vans since the start of the pandemic continues to have a positive impact on the new light commercial vehicle market. With online retail and construction activity on the rise, June saw 34,363 new vans join British roads rounding off the third highest half year registrations since records began, according to […]
New car registrations in June grew 28.0% year-on-year to 186,128, according to the Society of Motor Manufacturers and Traders (SMMT)’s latest figures. The monthly performance was again artificially lifted through comparison with June 2020, when the UK began to emerge from the first pandemic lockdown and showrooms in England opened up at the beginning of […]
It has been a busy week at SMMT with the annual International Automotive Summit taking place on Tuesday, with more than 500 guests attending either physically or virtually. The event brought together industry leaders, government, political figures, media and other stakeholders in a series of keynote speeches, alongside a host of panels on competitiveness, skills, digitalisation […]
The Society of Motor Manufacturers and Traders (SMMT) today launches a new, ambitious plan, ‘Full Throttle: Driving UK Automotive Competitiveness’, to secure the future of one of Britain’s most important industries. The automotive manufacturing sector employs around 180,000 people nationwide, contributes £15bn to the economy and is the country’s largest exporter of goods. Moreover, automotive enables […]
In a continuation of the recent trend, UK car production rose dramatically in May, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT) but still faces ongoing Covid-related issues. Some 54,962 cars rolled off production lines compared to just 5,314 a year ago, when coronavirus halted manufacturing. Performance, however, […]
