Vehicles are the UK’s most valuable export as revenues reach £27bn October 12, 2021 UK export revenues for vehicles have reached £27bn in 2020, making vehicles Britain’s most valuable trade good. In a report published today, the Society of Motor Manufacturers and Traders (SMMT) highlighted how the British automotive sector kept on generating revenue even during the Covid-19 pandemic. As a whole, the country’s industry produced a £74bn total [...]
Exclusive: ‘Petrol anxiety’ fuels interest in electric cars, says Auto Trader exec September 29, 2021 Since panic buying of fuel started at the end of last week, there has been a significant increase in interest in electric vehicles. Searches for used EVs increased by over 60 per cent versus the previous weekend, according to Auto Trader, by far the UK’s largest automotive marketplace. “The events of the past few days [...]
Exclusive: UK electric car market in top speed as sales jump 186 per cent during pandemic September 27, 2021 Electric car sales in the UK have jumped by 186 per cent to 108,000 in 2020, up from just 38,000 in 2019, according to a new study, shared exclusively with City A.M. this morning. This growth is six times higher than the average sales growth of electric cars globally at 31 per cent in 2020, putting [...]
Global chip shortage to cost auto industry $210bn in lost production this year September 23, 2021 An ongoing global shortage in semiconductors is on track to cost the world’s automakers $210bn (£159m) in lost revenue this year, almost double that of previous estimates. Consultants at Alix Partners said that 7.7m fewer vehicles would be manufactured in 2021 as a result of the shortfall, weighing on car firms’ earnings. As the crisis [...]
Italy seeking exemption from 2035 combustion engine ban for supercar makers September 6, 2021 The Italian government is in talks with the European Union over finding a way to exempt supercar makers like Ferrari and Lamborghini from the upcoming ban on the internal combustion engine. In July the bloc unveiled plans which would see traditional diesel and petrol engines phased out by 2035. But yesterday an Italian minister told [...]
New car sales down a fifth in August as supply chain struggles bite September 6, 2021 New car sales fell over a fifth last month in the weakest August for sales since 2013, new data from the Society for Motor Manufacturers and Traders (SMMT) showed today. Just 68,033 models were registered last month in what is traditionally one of the slowest periods for sales. However, sales were down 7.6 per cent [...]
Car production tumbles afresh amid supply and labour shortages August 26, 2021 Car production tumbled in the UK for the first time since February as the combination of global chip shortages, workers being forced to isolate, and summer shutdowns jammed up factory lines. According to the Society of Motor Manufacturers and Traders (SMMT), just 53,438 cars were made in July, down 37.6 per cent on the year [...]
Chinese car sales fall for third month in a row August 11, 2021 Chinese car sales declined for a third straight month in July, new data today showed, as the global shortage of semiconductors weighed on the world’s biggest auto market. Figures from the China Association of Automobile Manufacturers (CAAM) showed that sales fell 11.9 per cent to 1.86m, compared to the same month a year ago. The trade [...]
Used car sales double as chip shortages deplete new model stocks August 10, 2021 The number of used cars changing hands doubled in the second quarter as stock shortages forced some people to turn to second hand models. According to the Society of Motor Manufacturers and Traders (SMMT), 2,167,504 used models were bought in the last period, up 108 per cent on 2020. The number sold was also up [...]
The Renault Group partners with Geely to expand Asian presence August 9, 2021 The Renault Group has announced a partnership with a China-based vehicle manufacturer as post-pandemic sales fail to gain momentum in Asia. The Renault Group will share resources and technology with Geely Holding, China’s largest privately owned automotive group, as they focus on bringing hybrid vehicles to the fast-growing Asian markets. The companies will jointly release a [...]