Dear Colleagues,

Official Office for National Statistics (ONS) has revealed the economy has expanded in January by 0.3%, very encouraging to see following its sharp decline in December and shows that customer confidence in spending is still high. This data comes ahead of The Chancellor’s highly anticipated Spring Budget Review, which will be announced next Wednesday 15 March. NFDA will be following this announcement closely, in response to our budget submission earlier this year, and preparing a full policy document outlining the key budget allocations which will impact the automotive sector.

Earlier this week, NFDA and the wider automotive retailing sector celebrated International Women’s Day. It was positive to see so many members endorsing their female employees and promoting the automotive sector as an inclusive and prosperous industry to start their careers in. This year in particular was about embracing equity, by recognising that everyone has unique circumstances and therefore allocating opportunities to enable an individual to achieve an equal outcome. Please see in this edition of the news, a round up of many of our members supporting International Women’s Day.

Finally, this week we received the latest SMMT new car and van registration figures for February. Following seven months of consecutive growth, dealers are optimistic this steady growth will continue for the upcoming months. Similarly in the new LCV market, figures reveal the highest number of registrations for February since 1998. This is very positive news for the industry, and highlights that the market is slowly returning to pre-pandemic levels.