Dear Colleagues,

This week, we have seen SMMT figures for new car and van registrations in January, in addition to used car registration for 2022. The new car market has entered 2023 with strength and optimism with dealers reporting strong consumer demand.

Today also saw the UK economy avoid a recession, the Office for National Statistics reports. Whilst this was a narrow avoidance, this underpins the resilience of the UK market and that consumer spending is still strong. Chancellor Jeremy Hunt has not yet ruled out further increases to interest rates in a bid to stabilise the economy . A ‘strong and informed‘ Spring Budget is set to be delivered on 15 March.

We are pleased to announce that Driving Digital is back by huge demand! We are delighted to confirm that our headline speaker will be Robber Forrester, CEO of Vertu. Save the date 11 May 2023, the morning of the AM Awards, as we will be returning to Central Hall Westminster to discuss digitisation, electrification, agency and more, and how this may or may not affect the relationship between retailers, OEMs and customers.

The NFDA Spring Ball 2023 is fast approaching and we would love you to attend. The Spring Ball has always been one of the automotive industries most celebrated events. Join us on 22 April 2023 at the world renowned Grove Hotel resort, where you can enjoy the luxurious spa treatment and play on the championship golf course in your spare time. Please contact myself or lena.patel@rmif.co.uk if you would like to purchase a ticket or for function information! We look forward to seeing you!

Sue Robinson, NFDA Chief Executive