CEO Update

Parliament heads into recess next week with the UK-EU trade negotiations ongoing and the clock ticking down towards 31 December and the end of the transition period. While uncertainty generated by the coronavirus pandemic continues to be a major challenge…

The automotive sector has been particularly hard hit by the coronavirus crisis, with thousands of job losses already announced and many more at risk. So it’s bitterly disappointing that the Chancellor this week stopped short of supporting the restart of one of…

As the lockdown restrictions imposed in April ease, and road traffic begins to increase again, the government announced this week that mandatory MOT testing is set to be reintroduced from 1 August 2020. SMMT has been in regular contact with government about lifting the six-month extension, so…

Production figures for May, released today by SMMT, continue to show the devastating effect that the Covid-19 pandemic is having on the automotive industry. UK car manufacturing output fell -95.4% last month, with just 5,314 cars produced, as social distancing requirements…

During a week of high-level political negotiations, the Prime Minister and his EU counterparts have agreed to accelerate negotiations on a future trading relationship, injecting a renewed momentum into the talks. Securing a comprehensive trade deal by 31 December that…

As week two of England’s auto retail restart draws to a close, reports suggest a promising uplift in consumer interest in new cars, although of course it is still too early to tell whether this will translate into meaningful sales…

Figures published this week by SMMT showed the UK new car market in freefall for a second month running, with registrations down -89.0% in May, as lockdown continued to take its toll. There were 20,247 new cars registered in total,…

The latest production figures, released today by SMMT, highlight just how devastating coronavirus has been for the UK automotive sector. Over the course of April, car manufacturing plummeted by -99.7%, with just 197 units made, the lowest level seen since…

  During April new car registrations fell by -97.3%, a direct result of showroom closures and consumers staying home during lockdown. Not only is this bad news for the industry, it is also a blow to the Treasury as the…

With both the UK’s new car market and used car market – which declined -8.3% during Q1 2020, according to the latest figures released by SMMT this week – severely impacted by the lockdown, it is imperative that automotive retailers…