On Friday, we (NFDA) had a very constructive and valuable meeting with the CMA, where we outlined our thoughts; concerns and observations RE Block Exemption Regulations and the issues associated with it. If you would like to discuss any areas of this subject, please do contact me.
This week also saw SMMT release their new car and commercial registration figures for April. It is extremely positive to be back to consecutive months of growth, highlighting the resilience and strength of the automotive retailing sector post pandemic. SMMT have also upgraded their 2023 forecast from 1.79m units to 1.83m – a strong indication that supply issues are easing. Electric vehicles continue their upward trend in claiming market share and it is becoming ever more important to have an Electric Vehicle Approved accreditation to support your sales. Following four months of growth in the LCV sector, figures indicate that market confidence is improving and is another clear sign that supply chain shortages are improving.
On Thursday, Government’s Office for Zero-Emissions (OZEV) announced that their implemented limit of 1000 Plug-in Van Grant (PIVG) orders will be increasing to 1500 with immediate effect. This is positive for LCV retailers as it is a useful selling point when negotiating with customers and any financial incentives are welcomed. However, NFDA is concerned that this is still not enough and is only a drop in the ocean in the transition to zero emissions for the truck and van sector.
Finally, the NFDA extends our congratulations and best wishes to His Majesty King Charles III and Queen Camilla on their Coronation.