UK van market falls by nearly a fifth in October
The UK’s new light commercial vehicle (LCV) market fell by -18.4 per cent in October, with 22,386 of the latest vans joining Britain’s roads. Despite robust demand, registrations were at the lowest level for October since 2012, and some -16.5 per cent below the pre-pandemic five-year average, as supply shortages continue to restrict global production and availability.
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EVs energise new car market but chargepoint rollout must accelerate, says SMMT
The UK new car market recorded a third month of growth in October, with registrations rising by more than a quarter (26.4 per cent) to 134,344 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). Fulfilment of strong order books helped deliver the bounce-back, although the increase follows a particularly disappointing October 2021 when deliveries fell by -24.6 per cent. In the year to date, the market is down -5.6 per cent on the same period in 2021, but still a third below pre-Covid levels.
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Recent Western Europe car tyre production decline ‘similar to financial crisis’ years
Passenger car and light truck (PCLT) tyre production trends in Western Europe have been scaling down over the long-term. The move to larger production facilities in the comparatively low-cost labour markets in Eastern Europe, or greater reliance on imports from Asia, has seen a steady stream of plant closures and conversions to speciality, short-run production capacity – on in the case of Cooper Tire’s UK plant, for example, one followed by the other – in the region. A new assessment of the most recent three-year period by tyre industry analyst Astutus Research suggests that the overall picture has been of a decline similar to the period following the 2008 financial crisis, which was itself a catalyst for this trend. Yet digging a little deeper into the figures shows several dynamics at play in European PCLT tyre production, including supply chain disruption and spiralling energy costs. For comprehensive analysis of global tyre market trends, a series of reports by Astutus Research are available to buy now in the Tyrepress Reports Shop – click here for more details.
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China’s tyre exports slowed further in September
On October 24, China Customs announced the export data. In September, China exported 41.37 million new pneumatic rubber tyres, down 19.4 per cent year-on-year. The total weight of these tyres was 580,000 tons, down 1.4 per cent. While the number and weight of tyre exports declined, the export value still increased significantly compared to last year’s period. In September, the export value of Chinese tyres reached 10.14 billion yuan (about 1.24 billion pounds, 1.41 billion euros), an increase of 9.6 per cent.
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September van registrations improve, but YTD market -20% on 2021
The light commercial vehicle (LCV) market grew by 10.8 per cent to 34,950 units in September – a popular month due to the plate change. Despite strong order books throughout 2022, September is the first month of growth in registrations this year, as supply disruptions have restricted model availability. The SMMT warned that this performance is artificially inflated versus 2021; this September remains -35.5 per cent below the five-year pre-pandemic average.
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New car market up as plate change September marks 1 million EV milestone
The UK new car market recorded its second successive month of growth in September (the second ‘plate change’ month of the year), with registrations rising 4.6 per cent, according to the latest figures released by the Society of Motor Manufacturers and Traders (SMMT). During what is typically the second biggest month of the year for the sector, 225,269 cars joined Britain’s roads. While this was a 9,957 unit increase on last year, when the industry recorded its weakest September since 1998, overall registrations for the month are still some -34.4 per cent below pre-pandemic levels as the industry continues to battle issues constraining supply to fulfil a backlog of orders.
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EU-27 plus UK tyre imports rise 11% as winners and losers emerge from turbulent market
Since March, cumulative passenger car and light truck tyre imports to the European Union and UK have, for the first time, recovered to run above pre-pandemic levels. This is despite the well-documented impact of sharply higher ocean freight costs in this period, and disruption to production in some source countries. A newly published report by Astutus Research, “European PCLT Tire Demand and Supply Forecasts to 2026”, shows that in the first seven months of 2022, European (the EU-27 plus UK)* imports from outside the region were 11% higher than the same period last year and 5% higher than the equivalent pre-Covid period in 2019.
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UK used car market “stable” says NAMA
Over the last four weeks of trading the retail market has reported fall in demand from consumers, in comparison to the previous four, which is expected from retailers. The well documented issues relating to supply, driving the value of used car values up, has maintained this level and appears to be steady. Demand for diesel is still reducing, whilst petrol and BEV remain as the markets focal point.
Continue Reading Majority of UK drivers in favour of speed-limiting technology
Almost three out of four UK motorists (73 per cent) back using in-car technology that would help ensure they stick to the speed limit. Speed limiters which actively regulate speed, make a sound or vibrate through the steering wheel or pedals have just become compulsory for new cars introduced in the European Union - and August’s Startline Used Car Tracker reveals they would be welcomed here.
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UK replacement 17”-plus tyre market increasing in value, size – GfK
GfK data shows that the 17” and above UK tyre replacement market continues to offer both increased volume and value. While the 19” and above segment retains the characteristics of specialised fitments, the top two fitments account for more than one-fifth of replacement tyres sized 17-18”.
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Commercial vehicles reach record share of vehicles on road
The number of commercial vehicles on Britain’s roads has reached the highest level in history, according to the latest annual Motorparc data, published by the SMMT. Some 5,483,319 vans, trucks, buses and coaches were recorded in operation at the end of 2021, a 4.1 per cent increase on the previous year. Working vehicles now comprise 13.5 per cent of the 40,506,971-strong national fleet following a bumper year for van registrations and a return to growth for trucks and buses.
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New van registrations fall for fifth consecutive month as supply squeeze continues
UK light commercial vehicle (LCV) registrations recorded their fifth consecutive month of decline in May, falling -25.1 per cent to 22,000 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). Although the fall is amplified in comparison with last year, which saw the highest May registrations total in history, the market was still some -21.5 per cent below the pre-pandemic average as component shortages restricted production and therefore delivery.
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Supply shortages mean May car registrations down by 20 per cent
New UK car registrations fell -20.6 per cent to 124,394 units in the second weakest May since 1992, after the 2020 pandemic-hit market, as supply shortages continued to hamper new purchases and the fulfilment of existing orders, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The decline, compared with the first full month of reopened showrooms in May last year, demonstrates the impact of continued global supply chain disruptions, with the market -32.3 per cent below the 2019 pre-pandemic level despite strong order books.
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Battery revenues to top $168bn by 2030 but severe global shortages highly likely from 2025 – GlobalData
The battery industry is set to be one of the most significant over the next 10 years, according to GlobalData, which predicts that revenues will exceed $168 billion by 2030. However, the leading data and analytics company notes that extraction of raw materials will not meet soaring demand unless capital markets change course in the face of ESG (Environmental, Social and Governance) pressures and invest heavily in new mines.
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Latest NMDA Dealer Attitude Survey shows fall in satisfaction levels
“It is disappointing to see that motorcycle and scooter dealers’ average satisfaction levels with their respective manufacturers have fallen across the board”, said Stephen Latham, interim head of the National Motorcycle Dealers Association (NMDA) commenting on the results of the latest, recently-published NMDA Spring 2022 Dealer Attitude Survey (DAS).
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