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This week we have seen a number of positive announcements in respect of the new car market. Firstly, European passenger car figures published by ACEA showed that registrations continued to rise in May (+16.0%) reaching 1,228,220 units with 33 consecutive months of growth. Please see the news for full details.
In addition, figures released this week show that in the first quarter of 2016, 11,755 ultra-low emission vehicles (ULEVs) were registered in the UK, 1% of all new vehicles registrations. These figures showed an increase of 508% compared to 2014 when their new vehicles share was only 0.2%.
More positive news from the Office for National Statistics (ONS) announcing that the inflation rate in the UK has remained at 0.3% in May. It is also good to see that unemployment has dropped to its lowest rate since October 2005.
Members should be aware that from 1 April 2017 the Vehicle Excise Duty (VED) will be reformed. You will find a detailed document in this week’s news outlining he main changes. Please do contact us on the NFDA helpline 01788 538303 if you need any clarifications.
Finally, if you have any views on the news or would like anything specific to be included in future issues we would like to hear from you.
Sue Robinson, NFDA Director