The automotive industry briefing
The latest news, views and numbers you need to know this month
News in Numbers
Cazoo has completed the acquisition of SMH Fleet Solutions for approximately £70m
BEVs took a record market share of 15.2% in September, according to SMMT data
Sales in the UK new car market fell 34.4% in September, according to the SMMT
The average price of a used car increased 18.6% year-on-year to £17,754
The percentage of private new car sales financed by FLA member in June
Leasing.com partners with Rightcharge
Car leasing comparison site Leasing.com has signed a partnership with Rightcharge to help drivers make the transition towards electric vehicle ownership.
Used prices up 16% in first eight months of 2021
Used car prices have risen by 16.6% on average in the first eight months of 2021 as supply issues continue to affect the new car market, according to INDICATA UK’s latest report.
Fleet Evolution launches specialist fleet management division
Fleet Evolution, EV leasing and salary sacrifice provider, has launched a specialist fleet management division, Mercia Fleet Management.
Near-prime motor finance providers still treading carefully
Near-prime motor finance providers are continuing to “tread carefully” in terms of pricing and underwriting, according to Startline Motor Finance.
This is a desperately disappointing September and further evidence of the ongoing impact of the Covid pandemic on the sector.
Mike Hawes, chief executive of the SMMT, commenting on the September sales figures
British Ports Association chief executive Richard Ballantyne, following UK Chancellor Rishi Sunak’s announcement that the Freeports selection process will see the first sites in England set up by the end of 2021:
“This is a welcome development and by being more inclusive in terms of the number of freeports there might be, the government can now explore how to better deliver on its levelling up agenda without picking regions over each other. Coastal communities are often in areas of high deprivation and have also experienced challenges resulting from the coronavirus pandemic and lockdown so this potentially transformative policy will be welcomed across a range of suitable locations.”
The shortage of HGV drivers is unlikely to be resolved quickly, and car owners are understandably concerned that they could be left stranded if the pumps run dry. The impact on electric car demand has been immediate and searches for EV deals on our platform have gone through the roof.
John Wilmot, chief executive of LeaseLoco, commenting on the impact of the recent fuel crisis
Despite the climate challenges ahead, I feel there’s a sense of optimism that this is a genuine opportunity for the UK to embrace new areas of economic growth.
Richard Jones, managing director of motor finance for Lloyds, speaking to Motor Finance on the effects of climate change