Car makers have broadly welcomed today's Budget announcement but have some criticisms. Mike Hawes, SMMT Chief Executive, said, “Government has recognised the automotive industry as a pillar of national strategic importance, backing it with an industrial strategy and additional £1.5 billion to drive competitiveness and investment. Deferring the end of … [Read more...]
New car sales vital for economy, says SMMT
Growth in the used car market is good news given it is where most drivers buy their next vehicle – but their choice ultimately depends on thriving new car demand. SMMT’s latest data is positive all round, therefore, showing more than two million used cars changed hands between July and September – representing the highest Q3 volume since 2021 with BEV … [Read more...]
Car regs growth is essential
The end of Summer typically brings a quieter period for the UK’s new car and LCV markets as buyers anticipate the September plate change, writes Mike Hawes, CEO Society of Motor Manufacturers and Traders.. Given the tough economic and consumer environment that has impacted markets this year, August’s slight -2.0% decline in new car registrations – and a … [Read more...]
Motor industry disappointed with summer statement
Announcements to safeguard jobs and encourage consumer spending in some parts of the economy are welcome but it’s bitterly disappointing the Chancellor has stopped short of supporting the restart of one of the UK’s most important employers and a driver of growth, said Mike Hawes, SMMT Chief Executive. "The automotive sector has been particularly hard hit, … [Read more...]
