Editor's note

As the weather finally takes a positive turn, so too does the news for the UK automotive industry.

Showroom doors are open once again and the latest figures emanating from the industry suggest that there will be a strong bounceback following several months of lockdown. There has been record levels of interest on Auto Trader’s platform, while cap hpi has reported that used car values have seen their largest increase in 12 years.

Cap hpi’s Derren Martin said prices were initially stable at the start of April, before demand went through the roof when showroom doors reopened on 12 April. “There were reports of consumers queuing at the door before some opened and once they were open, there were large queues outside as showrooms had social distance restrictions in place. Car supermarkets, in particular, experienced hugely increased business levels as the opportunities for consumers to turn up without an appointment and browse around a forecourt were seized upon.”

In the new car market however, issues over semiconductor shortages continue to pose a problem for manufacturers – with the likes of Jaguar Land Rover, Nissan and Hyundai reducing factory output as a result of the shortages.

Automotive sector specialist at management consultancy Vendigital, Dominic Tribe, said: “The global market for semiconductors is now estimated to have a value of $433bn, and further growth of 8.4% is forecast this year. For the major car manufacturers, the situation is incredibly challenging and competition for supplies is intense.”

In this issue, we check in with our Irish counterparts to discuss what the real impact of Brexit has been since its implementation at the end of 2020. We also take a look at the growing role and capability of artificial intelligence in the finance sector and how companies can best harness those capabilities.

Elsewhere we have the discussion highlights from the recent Evolution Funding webinar that discussed the impact of the ban on commissions on customer experience in the sector, and comments from both Auto Trader and ieDigital on how Covid-19 and the subsequent lockdowns have impacted sellers and buyers alike.

Chris Lemmon, editor