Automotive News – Early March 2023
Estimated reading time 3 minutes
UK new car market posts seventh straight month of growth.
- Britain’s new car market rises 26.2% in February, in seventh consecutive month of growth.
- Battery electric deliveries rise 18.2%, with all plug-in cars taking almost a quarter market share.
- Plug-in uptake set to near half a million units in 2023, but Spring Budget measures needed to ensure a fair net zero transition for UK motorists.
https://www.smmt.co.uk/2023/03/uk-new-car-market-posts-seventh-straight-month-of-growth/
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Best February in quarter of a century for UK van market.
- Light commercial vehicle (LCV) registrations grow 8.5% in best February performance since 1998.
- Rising deliveries driven by demand for large vans, increasing by 14.0%, and small vans, up by 5.2%.
- Second month of growth in 2023 drives year-to-date market up 17.5% as supply chain constraints ease.
https://www.smmt.co.uk/2023/03/best-february-in-quarter-of-a-century-for-uk-van-market/
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Turbocharge UK competitiveness to win Race to Zero prize, auto industry urges.
- New blueprint highlights Britain’s electric vehicle investment advantages but warns of fierce competition as other countries boldly back their own industries.
- Almost every EV component already built in UK plants, but need to scale up capacity rapidly to secure long-term future.
- Industry urges government to get behind £67 billion automotive sector and pitch positively to the world to win green growth, jobs and prosperity.
- Sector sets out Green Automotive Transformation Strategy in response to global competition for EV production.
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Luxury car manufacturer Aston Martin Lagonda has said its on track to deliver £2bn of revenue by 2025.
Whilst losses widened last year amid supply chain and logistics disruption, the Warwickshire firm said it had ended 2022 with the strongest order book in years, significantly improved growth, enhanced margins and positive free cash flow.
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Jaguar Land Rover (JLR) has reportedly asked the Government for £500m in state aid to help fund a battery factory which could be based in the South West of England, or in Spain.
A report in the Financial Times says Tata, the Indian conglomerate that owns JLR, is currently weighing up where to build the factory, and that UK ministers have “weeks” to offer support for the plans.
It is understood Tata has asked for the money in the form of grants and support packages such as assistance for energy costs and research funding.
The reports come as Tata chief financial officer PB Balaji announced plans to produce electric vehicle batteries in Europe in January at the Auto Expo 2023 in Delhi.
JLR is in the early stages of ramping up EV production across its range of cars. Currently, the Jaguar I-Pace is the only fully electric vehicle in its range.
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People in Yorkshire, Norfolk, Portsmouth and Hampshire will enjoy greener, cleaner journeys as an extra 117 buses are rolled out thanks to £25.3 million from government.
The latest investment announced today (2 March 2023) will support British manufacturing around the country. The new buses will be manufactured in Northern Ireland by Wrightbus and operated by FirstBus, supporting hundreds of new high-skilled jobs to encourage growth and help level up the economy.
