Risk of a ‘hard landing’ ahead for economy

Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from Covid-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report. Global growth is expected to slow markedly from 5.5% in 2021 to 4.1% in 2022 and 3.2% in 2023 as pent-up demand dissipates and as fiscal and monetary support is unwound across the world.

Risk of a ‘hard landing’ ahead for economy

Jan 13, 2022

Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from Covid-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report. Global growth is expected to slow markedly from 5.5% in 2021 to 4.1% in 2022 and 3.2% in 2023 as pent-up demand dissipates and as fiscal and monetary support is unwound across the world.

EV sales leap as Covid stalls 2021 UK new car market

Covid and the semiconductor shortage left their mark on the UK’s new car market, which ended last year 28.7% down on pre-pandemic 2019, representing the second worst year since 1992. However, 2021 was the most successful year in history for electric vehicle uptake as more new battery electric vehicles (BEVs) were registered than over the previous five years combined, according to data from the Society of Motor Manufacturers and Traders (SMMT). Overall, new car registrations grew by a marginal 1% on a pandemic-ravaged 2020, as 1.65 million new cars entered the UK market.

EV sales leap as Covid stalls 2021 UK new car market

Jan 07, 2022

Covid and the semiconductor shortage left their mark on the UK’s new car market, which ended last year 28.7% down on pre-pandemic 2019, representing the second worst year since 1992. However, 2021 was the most successful year in history for electric vehicle uptake as more new battery electric vehicles (BEVs) were registered than over the previous five years combined, according to data from the Society of Motor Manufacturers and Traders (SMMT). Overall, new car registrations grew by a marginal 1% on a pandemic-ravaged 2020, as 1.65 million new cars entered the UK market.

Record used car sales, powered by fuel anxiety-induced EV popularity

Used car prices hit another all-time high in September, posting a 21.4% like-for-like increase, according to Auto Trader. Its analysis shows last month’s hike beats August’s 17.2% month-on-month increase, which itself was the largest single month of price growth on record. Based daily pricing analysis of some 900,000 vehicles, Auto Trader is now predicting a total of circa 7.75 million used car sales in 2021.

Record used car sales, powered by fuel anxiety-induced EV popularity

Oct 07, 2021

Used car prices hit another all-time high in September, posting a 21.4% like-for-like increase, according to Auto Trader. Its analysis shows last month’s hike beats August’s 17.2% month-on-month increase, which itself was the largest single month of price growth on record. Based daily pricing analysis of some 900,000 vehicles, Auto Trader is now predicting a total of circa 7.75 million used car sales in 2021.

Asset finance market recovering but supply constraints remain an issue

New business volumes in the consumer car finance market fell 20% in July 2021 compared with the same month in 2020, while the value of new business decreased by 19%. new figures from the Finance & Leasing Association (FLA) have revealed. In the first seven months of 2021, new business volumes were 20% higher than in the same period last year.

Asset finance market recovering but supply constraints remain an issue

Sep 13, 2021

New business volumes in the consumer car finance market fell 20% in July 2021 compared with the same month in 2020, while the value of new business decreased by 19%. new figures from the Finance & Leasing Association (FLA) have revealed. In the first seven months of 2021, new business volumes were 20% higher than in the same period last year.

Used car market roars ahead, and auto finance prospects positive

The UK recorded its best ever second quarter for the used car market as the nation emerged from lockdown, according to figures from the Society of Motor Manufacturers and Traders (SMMT), although while auto finance volumes remain healthy, they are starting to ease after a post-pandemic surge.

Used car market roars ahead, and auto finance prospects positive

Aug 19, 2021

The UK recorded its best ever second quarter for the used car market as the nation emerged from lockdown, according to figures from the Society of Motor Manufacturers and Traders (SMMT), although while auto finance volumes remain healthy, they are starting to ease after a post-pandemic surge.

UK auto sector struggles in the face of Covid, Brexit and global chip shortages

UK car factories turned out 69,097 units in June, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), the lowest June total since 1953, as the global chip shortage, supply issues and new trading rules with Europe continue to hit the automotive sector hard. Over the first half of 2021, 498,923 units rolled off production lines, a 38.4% decline on the five-year, first-half average and representing a loss of 311,160 cars worth more than £8.5 billion.

UK auto sector struggles in the face of Covid, Brexit and global chip shortages

Aug 02, 2021

UK car factories turned out 69,097 units in June, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), the lowest June total since 1953, as the global chip shortage, supply issues and new trading rules with Europe continue to hit the automotive sector hard. Over the first half of 2021, 498,923 units rolled off production lines, a 38.4% decline on the five-year, first-half average and representing a loss of 311,160 cars worth more than £8.5 billion.

FLA reports broad-based recovery in asset finance market

New figures from the Finance & Leasing Association (FLA) show the asset finance sector is starting to bounce back strongly, more than a year after Covid-19 saw activity stall, with consumer car finance leading the way. Total asset finance new business (primarily leasing and hire purchase) grew by 106% in May 2021 compared with the same month in 2020. In the first five months of 2021, new business was 26% higher than in the same period in 2020.

FLA reports broad-based recovery in asset finance market

Jul 13, 2021

New figures from the Finance & Leasing Association (FLA) show the asset finance sector is starting to bounce back strongly, more than a year after Covid-19 saw activity stall, with consumer car finance leading the way. Total asset finance new business (primarily leasing and hire purchase) grew by 106% in May 2021 compared with the same month in 2020. In the first five months of 2021, new business was 26% higher than in the same period in 2020.

Covid-19 impacts health of European leasing market

Preliminary data for 2020 from Leaseurope, the trade association representing the European leasing and automotive rental industries, shows that the leasing market contracted in the face of the Covid-19 pandemic. The data indicates that total new business volumes declined by 13.4% compared to 2019, while the outstanding portfolio remained relatively stable among the member associations reporting. New business volumes for vehicles fell by 14.2% in 2020, while equipment leasing was also down by 10.4%. Among the main asset categories, real estate leasing underwent the highest downturn of 22.9%.

Covid-19 impacts health of European leasing market

Jul 01, 2021

Preliminary data for 2020 from Leaseurope, the trade association representing the European leasing and automotive rental industries, shows that the leasing market contracted in the face of the Covid-19 pandemic. The data indicates that total new business volumes declined by 13.4% compared to 2019, while the outstanding portfolio remained relatively stable among the member associations reporting. New business volumes for vehicles fell by 14.2% in 2020, while equipment leasing was also down by 10.4%. Among the main asset categories, real estate leasing underwent the highest downturn of 22.9%.

Asset finance market sparks recovery in March, but still down on pre-pandemic levels

Total asset finance new business grew by 15% in March 2021 compared with the same month in 2020, reaching £3.2 billion, according to the Finance & Leasing Association (FLA). However, due to the national lockdowns in March 2020, a more accurate depiction of how the market is performing can be drawn by comparing it to March 2019. By doing this, we can see that the asset finance market is still 12.6% down from the pre-pandemic levels in March 2019.

Asset finance market sparks recovery in March, but still down on pre-pandemic levels

May 17, 2021

Total asset finance new business grew by 15% in March 2021 compared with the same month in 2020, reaching £3.2 billion, according to the Finance & Leasing Association (FLA). However, due to the national lockdowns in March 2020, a more accurate depiction of how the market is performing can be drawn by comparing it to March 2019. By doing this, we can see that the asset finance market is still 12.6% down from the pre-pandemic levels in March 2019.

Consumer car finance still 19.7% down from pre-pandemic levels, reveals FLA

According to new figures released by the Finance & Leasing Association (FLA), the number of new cars bought on finance by consumers through the point of sale grew by 10% to 234,065, compared to the same month in 2020. However, it is worth noting that the figures are likely to be distorted due to the crushing effects of the lockdowns of March 2020. This means that a more accurate comparison would be to the same month in 2019.

Consumer car finance still 19.7% down from pre-pandemic levels, reveals FLA

May 14, 2021

According to new figures released by the Finance & Leasing Association (FLA), the number of new cars bought on finance by consumers through the point of sale grew by 10% to 234,065, compared to the same month in 2020. However, it is worth noting that the figures are likely to be distorted due to the crushing effects of the lockdowns of March 2020. This means that a more accurate comparison would be to the same month in 2019.

UK new-car market continues healthy recovery as mainland Europe struggles

UK new car registrations saw a 30-fold increase in April as 141,583 new cars hit the road, according to new figures released by the Society of Motor Manufacturers & Traders (SMMT). However, this is compared with April 2020, when registrations had collapsed under the weight of the first national lockdown. Therefore, a more realistic comparison would be April 2019, prior to the pandemic. In this case, the UK saw a 12.1% decline in new car registrations in April.

UK new-car market continues healthy recovery as mainland Europe struggles

May 12, 2021

UK new car registrations saw a 30-fold increase in April as 141,583 new cars hit the road, according to new figures released by the Society of Motor Manufacturers & Traders (SMMT). However, this is compared with April 2020, when registrations had collapsed under the weight of the first national lockdown. Therefore, a more realistic comparison would be April 2019, prior to the pandemic. In this case, the UK saw a 12.1% decline in new car registrations in April.