UK sees first increase in car production after 18 months of decline
Thu, 29th Apr 2021 06:32
(Alliance News) - The number of cars built in the UK has increased for the first time after 18 months of decline, figures show.
The Society of Motor Manufacturers & Traders said the March figures were a major step in the right direction but added that with factories shut for much of March 2020, output was always going to be up.
The trade body reported that 115,498 cars were built in March, 46% more than the same month a year ago.
The figures were published a year since the coronavirus crisis caused all UK automotive plants to close in mid-March 2020, after only 78,767 cars had left factory gates that month.
New UK car sales up 11% in March, preliminary numbers show
Tue, 6th Apr 2021 05:51
(Alliance News) - Demand for new cars in the UK grew by 11% last month compared with March 2020, preliminary figures showed on Tuesday.
Around 283,000 new cars were registered in the UK last month despite showrooms remaining shut, the Society of Motor Manufacturers & Traders said.
The year-on-year increase was still around 37% down on the average March total between 2010 and 2019.
Final figures for last month will be released by the SMMT at 9am on Tuesday.
Industry turnover between January and March was down GBP1.8 billion compared with the same period in 2020.
SMALL-CAP WINNERS & LOSERS: Vehicle firms up on UK car market figures
Tue, 6th Apr 2021 11:05
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
SMALL-CAP - WINNERS
Card Factory, up 7.8% at 80.98 pence, 12-month range 28p-83.50p. Restaurant Group, up 3.8% at 130.40p, 12-month range 134.1p-266.03p. The card retailer and restaurant operator were higher after UK Prime Minister Boris Johnson on Monday confirmed non-essential stores, restaurants, hairdressers and pub beer gardens will reopen from April 12 in England.
Pendragon, up 6.7% at 17.65p, 12-month range 5.83p-19.08p. Liberum raised its price target on the car dealer to 18p from 12p. In addition, new car registrations in the UK climbed 12% annually in March, the first month of growth since August, an industry body said on Tuesday. New car registrations rose to 283,964 in March, the Society of Motor Manufacturers & Traders said. Though up 12% from a year ag
ELECTRIC VEHICLES
PM S PLAN: Boris Johnson has vowed to ban new sales of petrol and diesel cars by 2030 . He announced £2.8billion in funding as part of his ten-point green plan, including £1.3billon on the rollout of electric car charging points.
REALITY: The 2030 target is viewed by the industry as incredibly ambitious with car companies facing an uphill battle to meet demand on time - and the UK charging network needing to be increased to 20 times the size it is today.
The AA says the 2030 target is incredibly ambitious , with the three major concerns around electric cars for drivers being the initial cost of the car and availability, perceived single-charge range anxiety and charging infrastructure.