After what seems like a decade of uncertainty, from Brexit to lockdowns, there is finally some hope for growth. SMMT’s latest research reveals that the industry’s expected return to growth next year could be worth an additional £14 billion to the UK economy in 2023 alone, with the new car and van market set to rise 15%, […]
Ford has doubled down on its commitment to the UK as its European hub for electric vehicle powertrain production, thanks to £600m of backing from UK Export Finance, supporting high-skill manufacturing jobs. The investment is part of government’s plans to put the UK at the forefront of electric car development in Europe as the country […]
A “difficult” 2023 lies ahead for the used vehicle sector but strong profits will still be possible, more than 150 delegates heard at the Vehicle Remarketing Association’s (VRA) Annual Seminar which took place on 22 November 2022. Philip Nothard, chair at the industry body said that speakers at the event had detailed a picture of […]
The UK automotive industry has today urged government to take rapid action to secure the long-term future of one of the country’s most important assets, while accelerating its decarbonisation. The call comes as the sector finally begins to emerge from the pandemic-induced downturn, with new analysis from the Society of Motor Manufacturers and Traders (SMMT) […]
UK commercial vehicle (CV) production grew by 10.7% in October, with 8,740 vans, buses, trucks, coaches and taxis rolling off British factory lines, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). Output in October was the highest for the month since 2019, as production volumes increased to […]
UK car production returned to growth in October, rising 7.4% to 69,524 units, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). The rise followed September’s fall, which came after four consecutive months of growth, illustrating how supply chain turbulence, in particular global chip shortages, continues to affect UK […]
Attention was firmly on the Chancellor this week as he delivered the Autumn Statement, and whilst we welcome his plans to deliver economic stability and – hopefully – growth whilst addressing the hole in public finances, there was always going to be a cost to motorists. From 2025, therefore, electric car and van buyers – […]
New UK heavy goods vehicle (HGV) registrations increased by 30.1% in the third quarter of 2022, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). The surge saw 10,034 units registered across the three months, demonstrating the best quarterly growth since Q3 2021 and driving volumes up 17.3% […]
Britain’s new bus and coach market fell -11.6% year on year to 754 units in the third quarter of 2022, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT). The performance is some -43.7% below an already weak Q3 2019, primarily due to a long-term decline in passenger numbers yet […]
Over half of motorists with older cars are holding on to them for longer because of the cost-of-living crisis, new research from Motorpoint has revealed. The survey of 2,000 UK drivers with cars over 10 years revealed that for 57%, worries over the current financial situation mean they will keep their car for longer. However, […]
