UK Automotive is export-led and free and fair global trade has been the bedrock on which the sector has built its recent success. It is welcome, therefore, to see the government this week set out its new trade strategy to help UK businesses boost their overseas orders and ultimately hit £1tr in exports. The “Made […]
The UK new bus and coach market fell by -19.8% in the third quarter, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT), a deeply disappointing decline following a 2020 performance devastated by Covid. Single-deck buses were the only vehicle type that saw growth, increasing by 5.2%, whilst double-deck buses declined […]
New heavy goods vehicle (HGV) registrations declined by -8.4% in the third quarter of 2021, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). The decrease saw 7,715 trucks registered, some 704 fewer than the Q3 2020 total, which itself was volatile due to the effects of the pandemic. It was […]
Leading automotive finance provider, JBR Capital, is pleased to announce a renewed partnership with Supercar Driver as exclusive vehicle finance lender for the next three years. The newly agreed deal sees the extension of an existing long-term relationship, first established back in 2017. As the UK’s sole independent finance lender that specifically serves the high-end vehicle […]
There can be no hiding the fact that the new car registration figures in October – which fell for the fourth consecutive month – were a major blow to the sector, albeit one that was expected. The performance reflects the challenging supply constraints, with the industry continuing to battle against semiconductor shortages and increasingly strong […]
Independent business lender White Oak has announced a new Green Fleet product to support UK businesses looking to electrify their commercial fleets. The new financing option will allow businesses to invest in cars, vans, LCVs and HGVs that are either fully electric or hybrid vehicles. With the COP26 conference dominating the business agenda, White Oak […]
UK commercial vehicle (CV) production increased to 7,799 units in September, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). After production declined by over a third (-35.1%) in August, September saw a modest increase of 1.8% compared to a strong September 2020 when production volumes were driven by […]
The transaction enabled the group managing director, Ian Buxton, acquire 100% of the business. In addition to meeting the share purchase consideration to affect the buyout, the £5.5m facility will also provide significant additional working capital for further planned growth. The comprehensive funding facility comprises a confidential invoice discounting line, a property term loan and […]
As the world re-emerges from the pandemic, Britain’s export-led automotive industry is the country’s competitive advantage for driving growth, creating jobs and tackling climate change. In 2020, vehicle export revenues reached £27bn despite disrupted trade flows and shuttered markets across the globe, making vehicles built here more valuable to the UK than both power-generating machinery […]
New data released by Time Finance reveals a huge steer in direction from British business, with a dramatic increase in demand for electric vehicles up 241% from last year. The findings follow that from the Society of Motor Manufacturers and Traders (SMMT) which announced that nearly 33,000 pure electric cars were registered in September – […]
