Home/Tag: SMMT

Driving change – EV uptake soars 241%

By |2021-10-15T09:40:04+01:00October 15th, 2021|Categories: Leasing & Finance News|Tags: , , , |

With the government now reaching for a 78% reduction in emissions by 2025 and the sale of fuel-based vehicles due to be abolished altogether from 2030, these figures combined with those from Time Finance point towards continued growth in the uptake for wholly electric vehicles.

September registrations with weakest since 1998

By |2021-10-07T15:33:56+01:00October 7th, 2021|Categories: Leasing & Finance News|Tags: , , , , |

Registration of  215,312 cars during the month represented a fall of 34.4% on September 2020, when pandemic restrictions were significantly curtailing economic activity. September is typically the second busiest month of the year for the industry, but with the ongoing shortage of semiconductors impacting vehicle availability, the 2021 performance was down some 44.7% on the pre-pandemic ten-year average.

August new car sales hit an eight year low

By |2021-09-10T09:31:22+01:00September 6th, 2021|Categories: Leasing & Finance News|Tags: , , , , , |

According to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). 68,033 units were registered, the weakest since August 2013, and down 7.6% against the average recorded over the last decade, due in part to constrained supply as the global shortage of semiconductors, an issue born of the pandemic, continues to undermine production volumes.

Supply shortages hit July car sales

By |2021-08-09T13:42:17+01:00August 10th, 2021|Categories: Leasing & Finance News|Tags: , , , |

July saw a huge contraction in sales of both diesel and petrol vehicles, with electric and hybrid vehicles the only areas showing signs of growth. Concerns about environmental impacts, as well as ever-evolving patterns of work and social life, have driven many consumers away from traditional petrol and diesel models.

New car sales grow but fall short of expectations

By |2021-07-05T10:36:31+01:00July 5th, 2021|Categories: Leasing & Finance News|Tags: , , , , |

Total registrations for Q2 2021 fell short of industry expectations by around 9,000 units partly as the ongoing global semiconductor shortage acted as a limiting factor on supply. As a result, overall registrations for the first half of the year are down -26.8%.

Registrations rise a ‘welcome boost’

By |2021-06-04T11:26:17+01:00June 4th, 2021|Categories: Leasing & Finance News|Tags: , , , , |

Pent-up demand for motors is great news for dealers across the country, however there are questions around the ability of manufacturers to meet this huge appetite. Used cars are continuing to hold value as people ordering new vehicles have to deal with extended wait times, and the prospect of bouncing back to 2019 registration levels still seems a little way off.

Car registrations up for the first time since August

By |2021-04-06T10:21:26+01:00April 6th, 2021|Categories: Leasing & Finance News|Tags: , , , , |

One year on from the first lockdown in March 2020, the new car market recorded its first growth since August with 29,280 more units registered compared to the same month last year, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT).

Optimism for the future despite lowest registrations for 50 years

By |2021-03-04T10:15:57+00:00March 4th, 2021|Categories: Leasing & Finance News|Tags: , , , , |

Latest figures published by the Society of Motor Manufacturers and Traders (SMMT) show that the industry recorded its lowest February uptake since 1959, with 51,312 new cars registered. Registrations of petrol and diesel cars were [...]

A cloudy start but there is optimism for the new car market

By |2021-02-04T13:34:08+00:00February 4th, 2021|Categories: Leasing & Finance News|Tags: , , , , |

Demand remained depressed for both private buyers (38.5%) and large fleets (39.7%). Declines were also recorded in both petrol and diesel cars registrations, which fell by -62.1% and -50.6% respectively. However, battery electric vehicle (BEV) uptake grew by 2,206 units (54.4%) to take 6.9% of the market.

Are you ready for the electric vehicle revolution?

By |2021-01-13T11:33:34+00:00January 13th, 2021|Categories: Leasing & Finance News|Tags: , , |

For the first time, Across 2020, 108,205 fully electric vehicles were registered, up 185% year-on-year. Meanwhile, plug-in hybrid registrations rose by 91%, amassing 66,877 units. This means the total number of electric and plug-in hybrid cars registered in the UK is fast approaching the half-a-million mark (409,330).

Turbulent year sees new car sales fall to lowest for nearly 30 years

By |2021-01-06T10:16:12+00:00January 6th, 2021|Categories: Leasing & Finance News|Tags: , , , , |

Against a backdrop of Covid restrictions, an acceleration of the end of sale date for petrol and diesel cars to 2030 and Brexit uncertainty, the industry suffered a total turnover loss of some £20.4 billion. December’s vehicle registrations were reflective of what was a highly turbulent year, although the month showed signs of continued consumer interest in both used and electric vehicles.

Additional lockdown presents a challenge for the short-term future

By |2020-11-05T10:14:14+00:00November 5th, 2020|Categories: Leasing & Finance News|Tags: , , |

New models and ongoing financial incentives helped initially to sustain UK demand in the month, but the introduction of a ‘firebreak’ lockdown in Wales on 23 October contributed to the nation recording 25.5% fewer registrations by the end of the month, which accounted for more than half of the overall UK decline.

‘No cause for alarm’ over August new car sales dip

By |2020-09-04T14:46:50+01:00September 4th, 2020|Categories: Leasing & Finance News|Tags: , , , |

The recent lockdown has given us a glimpse of what a greener future could look like. With plans for Clean Air Zones in cities across the UK firmly on the table, demand among businesses for their fleets to have the newest and cleanest vehicles is continuing to rise

Rising popularity of EVs presents leasing opportunities

By |2020-07-06T14:38:00+01:00July 6th, 2020|Categories: Leasing & Finance News|Tags: , , , |

Leasing is a good option for individual motorists and businesses looking to spread the running cost of a new car, and those who move into an EV could enjoy additional cost savings throughout its lifetime, including cheaper ‘fuel’ costs and VED, as well as low Benefit-in-Kind for company car drivers.

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