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New car registrations show that the market rose 1.4% in October with a total 180,168 units. Positively, the market is still 2.5% higher than last year with a total of 2,330,663 units already registered. The light commercial vehicle market has performed strongly so far in 2016, although October saw a fall back in demand. If you would like to receive a copy of the registration figures, please email email@example.com.
As an NFDA member you have access to the National Conciliation Service (NCS), the longest established ADR provider for the retail motor sector. NCS’s services offer help and guidance on issues including providing advice on disputes, mediating between two parties and offering arbitration with a legally binding decision. Please find more details below.
This week, we responded to a consultation from the Department of Transports which included mileage fraud: we are pleased to see that the government has acknowledged the seriousness of the issue and we urge them to quickly enact legislation to outlaw the practice. Please find more information in the news.
The Bank of England confirmed the decision to hold interest rates at their record low of 0.25% and also revised up their growth forecasts for the UK economy to 2.2% from 2.0% for the remainder of the year. Bank of England’s quarterly inflation report was also released, please click here to access the full document. Next week, I will be meeting with representatives of the Bank of England to discuss the outlook of the sector.
The NFDA Roadshow will be taking place on Friday 25 November 2016, at the Hilton Warwick. It will provide an ideal opportunity for to receive an update on the latest issues affecting the industry, including guidance from the CMA. Please contact firstname.lastname@example.org to register to attend the event.
Finally, NFDA is here to assist you, if you need any advice or clarifications please contact us on the member helpline 01788 538303.
Sue Robinson, NFDA Director