The UK automotive industry has called on government to seek an interim arrangement with the EU that would maintain membership of the single market and customs union until a final agreement on a new relationship with the EU is negotiated and implemented.
The second annual MHA Motor Dealer report reveals a significant drop in optimism amongst UK motor dealers around the prospects for profitability in the sector this year. 76 per cent of dealers surveyed said they expected profits to drop or remain static for the year, that’s an increase of 20 per cent from 2016.
As the nation speculates about what leaving Europe will mean for the country, a new study for Kwik Fit, the UK’s leading automotive servicing and repair company, has found that 57 per cent of UK motorists (21.5 million) expect Brexit to cause the price of new cars to increase. 6.5 million drivers (17 per cent) predict that prices will increase significantly, whereas only 3 per cent believe Brexit will bring about lower prices.
The Automotive Aftermarket Liaison Group (AALG) presented its new lobbying position on European issues that affect the aftermarket in a post-Brexit Britain at a press launch today (Tuesday 23 May) at Silverstone race track.
The triggering of Article 50 and the decision to call a general election have been cited as factors in the 16 per cent decline in motorcycle sales registered by Motor Cycle Industry Association figures in April. 10,365 bikes were registered, compared to 12,343 bikes put on the road in the same period for 2016.
The Automotive Aftermarket Liaison Group (AALG) has positioned itself to lobby on European issues that affect the aftermarket in a post-Brexit Britain and has an official launch on Tuesday 23 May at Silverstone race track.
“Following the triggering of Article 50, the NFDA will engage constructively with the Government to ensure the retail motor sector is actively involved in the process going forward”, said Sue Robinson, Director of the National Franchised Dealers Association (NFDA) which represents franchised car and commercial vehicle dealers across the UK, commenting on today’s announcement.
On the day that Prime Minister Theresa May official wrote to the European Union signalling the UK’s intent to leave the EU, the Society of Motor Manufacturers and Traders (SMMT) called for the automotive industry to be at the heart of negotiations.
UK chancellor of the exchequer Philip Hammond’s spring Budget contained the Office for Budget Responsibility (OBR) upgraded growth forecasts for 2017, while predicting lower – but rising – figures for the years following the assumed activation of Article 50 as the country leaves the European Union. The government also confirmed an extra £690 million will be added to the £1.3 billion announced in autumn to improve transport networks in urban areas. In other transport news, the freeze on fuel duty has been retained.
Not long after Theresa May gave her headline Brexit speech, various automotive industry representatives spoke out about their perspective on the ongoing issue:
Prime Minister Theresa May has indicated that Britain is headed for what might be called a hard Brexit in her most direct speech on the subject since the EU referendum on 23 June 2016. She also announced that Parliament would vote on the final Brexit agreement between the UK and the EU.
A new post-Brexit referendum business survey reveals that 55 per cent of business leaders in the East Midlands, East of England and South East say they are not confident about the effects of Brexit being positive on their business in the future.
The survey of over 260 UK business leaders and decision makers by leading regional law firm Howes Percival found that the referendum vote had so far had little or no impact on businesses.
David Davis, Secretary of State for Exiting the European Union as well as DFT and BEIS ministers joined a roundtable with SMMT and automotive leaders regarding Brexit and the automotive industry. The event took place on 12 December at SMMT’s headquarters in London and was also attended by John Hayes, Minster of State, Department for Transport and Nick Hurd, Minister of State, Department for Business, Energy and Industrial Strategy.
Following on from the announcement of its key theme for its annual conference, ‘How to survive and thrive – post Brexit’, delegates to the Independent Automotive Aftermarket Federation (IAAF) conference on 15 December will also benefit from a number of topical aftermarket discussions while keeping the current economic climate firmly in view.
The conference, sponsored by Autoparts UK, aims to address issues surrounding the aftermath of the recent European Union (EU) referendum and produce a lively debate for conference guests, with John Sergeant, the well-known BBC television and radio journalist, on board to host the event.
The new car market following Brexit, the role of dealerships, consumer legislation – including Consumer Rights Act, and the NFDA Consumer Attitude Survey, were the main topics of discussion at the NFDA meeting in Belfast. “The UK new car market may stabilise slightly in the near future, but will still be strong. Our sector has demonstrated its resilience over the past months and dealers have been coping well with recently introduced measures and unexpected challenges”, said Sue Robinson, director of the National Franchised Dealers Association (NFDA).
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