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The Latest Breaking News from SMMT

Hard-pressed UK shoppers feel food ‘shrinkflation’

Consumers increasingly claim that manufacturers are reducing the size of products, Barclays research finds

The Guardian - UK

Decline in used car sales halted as more become available

Some 1.8 million cars changed hands in the UK between January and March, the Society of Motor Manufacturers and Traders said.

The Independent UK

Increase in UK car production ’cause for optimism’, says trade group

The Society of Motor Manufacturers and Traders said the global shortage of semiconductors had started to ease.

The Independent UK

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UK has no public electric charger or hydrogen refilling station solely for HGVs

Automotive sector’s lobby group warns deadline to end sale of fossil fuel trucks by 2040 may be missed

The Guardian - UK

Lorry manufacturers criticise lack of infrastructure for greener vehicles

New analysis shows there is not a single dedicated electric charging or hydrogen refuelling site for HGVs on Britain’s major roads.

The Independent UK

Carmakers are mistaken if they think chip shortages are over – they need to reinvent themselves while there's time

Finally, carmakers got a break. Those in the UK boosted their output by over 13% in February as supply-chain pressures subsided, especially the persistent global shortage in microchips, also known as semiconductors. This “signals an industry on the road to recovery”, declared UK motoring trade association the SMMT. Well, up…

The Conversation

Electric vehicles drive new car surge and boost Lookers profits

287,825 vehicles were delivered in March, a month which typically sets the tone for the year ahead

Evening Standard

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Spanish inflation almost halves and German CPI falls as energy prices cool – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Increase in car production shows industry is on road to recovery, says SMMT

Production was helped by the easing of a two-year long shortage of semiconductors.

The Independent UK

Majority of car owners oppose relaxation of MOT rules, says report

Government considering move for new vehicles to require an MOT after four years rather than the current three

Wales Online

More than two-thirds of car owners oppose relaxation of MOT rules – survey

The Department for Transport is consulting on its proposal for new vehicles to require an MOT after four years rather than three.

The Independent UK

Automotive group says UK must ‘step up to compete’ in electric vehicle production

Warning over 'fierce competition' from other countries

Insider UK

Car makers warns UK must ‘step up to compete’ in electric vehicle production

The Society of Motor Manufacturers and Traders has published a blueprint to boost EV production in the UK.

The Independent UK

UK car sales rise by a quarter as industry recovers from chip shortage

Registrations hit 74,400 in seventh successive month of growth, with electric cars accounting for 16.5%

The Guardian - UK

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The Independent UK

Electric vehicle production continues to increase – SMMT

Total car production was said to be ‘stable’ last month, with output down by 0.3% to 68,575, equivalent to 215 fewer cars.

The Independent UK

Used car market slumped by 8.5% in 2022

The Society of Motor Manufacturers and Traders said just 6.9 million vehicles changed hands in 2022.

The Guardian - UK

Electric vehicles power rise in UK car sales despite weak outlook

Trade body SMMT cuts forecast for annual sales, citing inflation and interest rate increases

Wales Online

UK car production slumps to lowest level since 1950s

Global shortage of semiconductor chips and plant closures saw output fall by more than 40% compared to pre-coronavirus levels

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The Independent UK

Car production sinks to lowest level since 1950s

A total of 775,014 cars were built in the UK in 2022, down 9.8% from the 859,575 made during the previous year.

The Independent UK

New car sales fall to lowest level in three decades amid supply chain issues

2022 ‘very difficult’ but supply problems ‘beginning to ease’ says SMMT

The Independent UK

Sales of new cars sink to lowest level in three decades

Around 1.61 million new cars were registered in 2022, according to preliminary data released by the Society of Motor Manufacturers and Traders.

The Guardian - UK

UK new car sales rise as industry leaders say recovery ‘within grasp’

Increase for fourth consecutive month, with almost 143,000 new vehicles registered in November

The Independent UK

Increase in car production as industry returns to growth

More than 69,500 cars were built in October, an increase of 7.4% on the same month a year ago.

The Independent UK

Sales of used electric cars hit new high

Some 16,775 used pure battery electric cars were bought in the UK between July and September, the Society of Motor Manufacturers and Traders said.

StockNews.com

Should You Follow the Insider Buying in Summit Therapeutics

Shares of the biopharmaceutical company Summit Therapeutics (SMMT) gained over the past few days, driven by significant insider buying. However, as the stock is down more than 55% this year, would it be wise to invest in the stock now? Read on to find out….

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