Automotive industry responds to PM’s Brexit speech
Not long after Theresa May gave her headline Brexit speech, various automotive industry representatives spoke out about their perspective on the ongoing issue:
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2016 car sales peak at 2.7 million units
The UK new car market achieved another record year in 2016, with annual registrations climbing for the fifth year in a row to almost 2.7 million, according to figures published by the Society of Motor Manufacturers and Traders (SMMT). The market has experienced uplifts in 10 out of the last 12 months, albeit finishing with a December down slightly by -1.1 per cent – with 178,022 new cars registered in the month. However, the SMMT also gave a negative prediction for growth in 2017.
Ministers meet with SMMT to discuss Brexit
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.
November a record month for UK van sales
The UK’s new light commercial vehicle (LCV) market achieved a record-breaking performance in November, according to SMMT figures. 29,784 new vans hit the roads last month – the most for two decades.
November figures ‘a significant milestone’ says Close Brothers Motor Finance
Commenting on the SMMT figures for November Chris Bosworth, director of strategy at Close Brothers Motor Finance, said: “[The] new registration figures from the SMMT indicates that the automotive sector is poised to end 2016 with record sales, with transactions for the year surpassing 2.5 million for the first time. This is a significant milestone, and proof that the sector has remained buoyant despite the uncertainty created by the vote for Brexit.
November new car sales up 2.9 per cent
184,101 new cars were registered in the UK this November, with the market increasing by a steady 2.9 per cent, according to the latest figures from the Society of Motor Manufacturers and Traders. The growth has helped deliver more than 2.5 million new cars on to British roads so far this year – the first time the milestone has been reached in November.
Demand for HGVs falls in Q3
Figures released by the SMMT show that the new heavy goods vehicle (HGV) market declined -3.6 per cent in the third quarter of 2016, with 11,242 units registered. The fall in demand follows five consecutive quarters of growth, and year-to-date the market remains strong, with registrations up 6.6 per cent against the same period in 2016.
‘Modest growth’ in October car registrations
The UK new car market experienced modest growth in October following a bumper plate-change month in September, according to figures published by the Society of Motor Manufacturers and Traders. 180,168 cars were driven off the UK’s forecourts last month as registrations grew 1.4 per cent.
Van registrations shows signs of weakening – NFDA
New van registrations declined by 4.5 per cent in October, showing the first signs in 2016 of weakening. In year to date figures, the market remains two per cent higher than 2015, with a total of 318,664 units registered in the first ten months of 2016: the best performance on record.
Fleet registrations propping up small growth in UK new car market
The Society of Motor Manufacturers and Traders (SMMT) reports 180,168 new cars were registered in October, representing modest growth of 1.4 per cent. The growth was largely supported by fleet registrations, with private buyers continuing the trend of small declines. Registrations of alternatively fuelled vehicles continued to show growth in double digits, while the overall total for the year is also growing marginally, showing the resilience of the market. Analysis from KPMG suggests that predicted incremental price increases will not severely affect the market, though lower figures are anticipated in 2017.
BBC investigation into pre-registered cars
An investigation into the pre-registering of cars by the BBC Radio 4 consumer programme ‘You and Yours’, suggests that up to a fifth of new cars in the UK are estimated to be “pre-registered” to dealers – potentially skewing sales figures and leaving drivers confused.
Highest-ever September car registrations
Figures from the Society of Motor Manufacturers and Traders reveal that the UK new car market remained steady in September, rising 1.6 per cent. 469,696 cars were registered, as buyers purchased the new 66-plate.
“Too early to gauge true Brexit impact on car market” – Close Brothers
Chris Bosworth, director of strategy at Close Brothers Motor Finance, comments on the SMMT UK Registration figures for July: “These figures indicate that the automotive sector remains resilient in the months after the UK’s decision to leave the EU, with the small growth in registrations helping the sector recover from a flat performance in July. […]
NFDA sees light commercial registrations rise, powered by mid-large vans
Light commercial vehicles’ sales rose 6.3 per cent compared to last year with 15,385 vans and light trucks registered, the latest SMMT commercial vehicle registration figures show. The most significant increase came from mid to large size vans, which grew by over 14 per cent. ‘Pick-ups’ and 4×4 trucks showed a minor growth, while sub 2.0t car-derived vans, often used by self-employed tradespeople, declined -5.2 per cent.
Fleets drive August growth in car registrations
The UK new car market achieved modest growth in August, as registrations rose 3.3 per cent against the same month last year, according to figures released by SMMT. 81,640 new cars were registered in the month, with year-to-date performance remaining positive, up 2.8 per cent to 1.68 million units.
