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The Latest Breaking News from SMMT

UK construction output falls again; job cut fears as British Steel confirms plans to shut blast furnaces – business live

UK housebuilding decreased for the eleventh month running in October, while 2,000 jobs could be threatened if British Steel replaces two blast furnaces in Scunthorpe

The Guardian - UK

Increase in UK car production reaches almost 40%

Exports increased by a third last month, with almost six in 10 new vehicles going to the EU.

The Independent UK

Delay EU tariffs to help sales of electric cars, says UK car industry

Brexit trade deal gave UK and EU carmakers until 1 January 2024 to source batteries from within Europe or face 10% tariffs

The Guardian - UK

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New post-Brexit rules ‘could add £3,400 to electric car price tags’

The Society of Motor Manufacturers and Traders has called on the UK and EU to postpone the implementation of tougher rules of origin requirements.

The Independent UK

Car production down 10% in August after months of growth

Production for the domestic market fell by a quarter while output for export dropped by 5.5%.

The Independent UK

Mini boost from BMW doesn’t mean UK is in global car industry’s fast lane

EV investment is obviously good news but, overshadowed by Brexit, British carmaking has halved in five years

The Guardian - UK

Bank of England must ‘see job through’ on cost of living; eurozone inflation higher than expected – as it happened

Live, rolling coverage of business, economics and financial markets as easing of chip shortage boosts British car manufacturing by a third

The Guardian - UK

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Future ‘more positive’ with latest car production figures

A total of 76,451 cars were built last month, marking the sixth consecutive month of growth.

The Independent UK

Surge in used car sales as demand for EVs soars

Some 1.83 million cars changed hands in the UK between April and June, the Society of Motor Manufacturers and Traders said.

The Independent UK

UK: Plug-In Car Sales Almost Doubled In July 2023

In July, 34,712 new plug-in cars were registered in the UK (85% more than a year ago), which was 24 percent of the total number.

InsideEVs

One new battery EV registered every 60 seconds as new car market surges in July

Registrations of new cars were up more than a quarter (28.3%) in July compared with the same month last year, the SMMT said.

The Independent UK

Northern Ireland new car demand revs up as supply chain issues fade

Birmingham Post

Eurozone inflation drops; UK recession fears linger; Apple hits $3trn valuation – as it happened

Eurozone price pressures have eased, although core inflation has risen, as economists warn UK recession risk has not vanished

The Guardian - UK

Automotive leaders challenge political leaders to help industry

The Society of Motor Manufacturer and Traders has issued a five-point for the transition to electric vehicles

Birmingham Post

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The Independent UK

Brexit ‘cliff edge’ threatens electric car production, warns industry boss

‘We can’t afford to have a last-minute 31 December agreement’, says automobile chief on January deadline

The Guardian - UK

Brexit ‘cliff edge’ poses threat to UK electric car production, warns industry chief

Head of SMMT raises concerns over tightening of trade rules from January on vehicles exported from UK to EU

InsideEVs

UK Noted Strong Plug-In Car Sales In May 2023

33,538 new plug-in cars were registered last month in the UK (47% more than a year ago). This result represents about 23.1% of the total volume.

The Guardian - UK

Hard-pressed UK shoppers feel food ‘shrinkflation’

Consumers increasingly claim that manufacturers are reducing the size of products, Barclays research finds

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The Independent UK

Decline in used car sales halted as more become available

Some 1.8 million cars changed hands in the UK between January and March, the Society of Motor Manufacturers and Traders said.

The Independent UK

Increase in UK car production ’cause for optimism’, says trade group

The Society of Motor Manufacturers and Traders said the global shortage of semiconductors had started to ease.

The Guardian - UK

UK has no public electric charger or hydrogen refilling station solely for HGVs

Automotive sector’s lobby group warns deadline to end sale of fossil fuel trucks by 2040 may be missed

The Independent UK

Lorry manufacturers criticise lack of infrastructure for greener vehicles

New analysis shows there is not a single dedicated electric charging or hydrogen refuelling site for HGVs on Britain’s major roads.

The Conversation

Carmakers are mistaken if they think chip shortages are over – they need to reinvent themselves while there's time

Finally, carmakers got a break. Those in the UK boosted their output by over 13% in February as supply-chain pressures subsided, especially the persistent global shortage in microchips, also known as semiconductors. This “signals an industry on the road to recovery”, declared UK motoring trade association the SMMT. Well, up…

Evening Standard

Electric vehicles drive new car surge and boost Lookers profits

287,825 vehicles were delivered in March, a month which typically sets the tone for the year ahead

The Guardian - UK

Spanish inflation almost halves and German CPI falls as energy prices cool – as it happened

Rolling coverage of the latest economic and financial news

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