Dear Colleague,

The latest new passenger car registration figures showed the market rebounded in April as dealerships reopened and consumer confidence continues to grow. Also, the light van market performed extremely well marking the best April on record. Please find further details below.

Following the reduction to the plug-in grant, on Thursday 13 May we will host an online Q&A session with a representative from the DfT’s Office for Zero Emission Vehicles (OZEV) to give members the opportunity to ask questions directly, understand the reasoning behind the changes and obtain practical advice on using the Government online portal to get the most out of the grants. If you would like to attend, please email lena.patel@rmif.co.uk .

This week, the Bank of England revised up its economic forecasts and agreed to hold interest rates at 0.1%. GDP is expected to rise sharply in the second quarter of 2021 and recover strongly to pre-Covid levels over the remainder of this year. This may lead to a slower expansion in 2022. Please find more information below.

NFDA is the voice of automotive retailers: if you require any assistance or would like to attend any of our forthcoming events, please email nfda@rmif.co.uk or contact 01788 538303.

Sue Robinson, Chief Executive