Unfortunately, probably due primarily to the pandemic, we have not been able to report anything positive in respect of the motor trade industry for many weeks. So, motor traders will be pleased to read that March 2021 saw an increase in the number of new cars sold here in the UK according to data published by the Society of Motor Manufacturers and Traders (SMMT).
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March 2021 Sees Increase In New Car Registrations
May 4, 2021 by mti
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Cost Of Car Insurance Drops In Q1 2021
April 16, 2021 by mtiMotor traders will be interested to read that the cost of insuring a car has fallen in the first quarter of 2021 according to MoneySuperMarket.com that is a very well-known price comparison website.
Apparently, figures published by MoneySuperMarket.com reveal that the average price paid by motorists for fully comprehensive car insurance fell from around £485 per annum in the first quarter of 2020 to around £417 per annum in the first quarter of 2021. That is a reduction of £68 per annum that equates to a fall of 14% per annum.
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February Sees Fall In UK Car & Commercial Vehicle Production
April 2, 2021 by mtiRegrettably, there was more bad news for the motor trade industry with the announcement that both car production and commercial vehicle production in the UK dropped in February 2021 according to figures published by the Society of Motor Manufacturers and Traders (SMMT).
In February 2021, the number of new cars built in the UK amounted to 105,008 compared to 122,171 in February 2020. That is a large drop of 17,163 that equates to a fall of 14.0%. The number of new cars manufactured for the home market in February this year totalled 17,689 whereas in February last year the figure was 27,169. That is a drop of 9,480 that equates to a reduction of 34.9%. The number of new cars built for the export market in February 2021 amounted to 87,319 whereas in February 2020 the figure was 95,002. That is a fall of 7,683 that equates to a drop of 8.1%. In February 2021, the overseas market accounted for 83.2% of new cars built whereas in February 2020 the figure was 77,8%.
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Drop In Engine Production And New Car Registrations
March 19, 2021 by mtiEngine Production
Those operating in the motor trade industry will be disappointed to read that the number of vehicle engines built in the UK in January 2021 fell when compared with the same month last year. This was the 13th month in a row that this sector of the motor trade industry has dropped according to the Society of Motor Manufacturers and Traders (SMMT).
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New Business Consumer Car Finance Volumes Drop In 2020
March 2, 2021 by mtiFigures published by the Finance and Leasing Association (FLA) reveal that the volume of new business consumer car finance amongst its members in the UK fell in 2020 when compared with the previous year. There was a reduction of 21% – a considerable drop.
This will probably not come as a surprise to motor traders as many will have seen a significant drop in the sale of both new and used cars in 2020 as a result of the pandemic.
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Big Drop In Sale Of Used Cars In 2020
February 17, 2021 by mtiLast year was a big disappointment for many motor traders in the UK involved in the selling of second hand cars due to a significant fall in the number of such vehicles being sold in comparison to 2019. Presumably, the coronavirus pandemic was a contributing factor in the reduction in sales.
According to figures published by the Society of Motor Manufacturers and Traders (SMMT), the number of used cars sold here in the UK in 2020 amounted to 6,752,959 whereas there were 7,935,105 second hand cars sold in the previous year. That is a fall of 1,182,146 with this equating to a drop of 14.9%. We are sure that you will agree this is a huge difference and may well have led to a number of used car sales businesses ceasing to trade. It will be interesting to see if, when we do eventually come out of this pandemic, some of those businesses are able to start back up again.
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Huge Reduction In New Car Registrations In 2020
February 4, 2021 by mtiIt should not come as a surprise to motor traders or many others working in the motor trade industry to read that there has been a significant drop in the number of new cars registered here in the UK in 2020. A major factor for this happening is no doubt due to COVID-19 that has had such an impact on so many things throughout the world.
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Do You Review How Much Your Business Is Paying For Its Insurance?
January 21, 2021 by mtiUnless you are very fortunate, when you receive your renewal notice for your motor trade insurance, it will no doubt be going to increase for the next year’s cover. Of course, we are assuming that you bother to compare the cost of what you have been paying in the last 12 months with what your existing insurance provider intends to charge you for the next 12 months.
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Increase In Market Share Of New Electric Cars Sold In 2020
January 7, 2021 by mtiIn the main, 2020 was a very disappointing year for many people involved in the motor trade industry including motor traders. However, according to figures published by the Society of Motor Manufacturers and Traders (SMMT), the sale of new electric cars was a positive factor last year.
In 2020, the number of new Battery Electric Vehicles (BEV) sold amounted to 108,205 whereas in 2019 the figure was 37,850 – an increase of 185.9%. The market share in 2020 was 6.6% whereas in 2019 the figure was 1.6%.
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Reduction In New Car Registrations In November
December 19, 2020 by mtiUnfortunately, motor traders saw a drop in the number of new cars sold here in the UK in November 2020 in comparison to the same month last year. The second lockdown has undoubtedly had a negative impact on the number of new cars registered as some showrooms in certain parts of the country will have had to close due to the pandemic.
