This week, the SMMT released new car and light commercial registration figures, marking the eighteenth consecutive month of growth for the UK automotive sector. Notably, electric vehicle sales have rebounded following a decline in November and December. Additionally, we received the latest used car figures from SMMT, revealing a growth in the UK's used car market in the fourth quarter of 2023. Of significance is the robust performance of used electric vehicles, reaching record levels.
The FCA has released a statement today, announcing that multiple insurance firms have agreed to pause sales of Guaranteed Asset Protection (GAP) insurance. NFDA will monitor any further developments from the FCA. For more information, refer to FCA website.
Last week, we attended the NADA show in Las Vegas, and a report is available in this week’s newsletter. This annual event provided an excellent platform to connect with members, dealers, manufacturers, and influential figures from around the globe, fostering networking and collaboration.
Finally, our national apprenticeship week campaign continues over the weekend. We would like to thank all members who participated in #DMCApprenticeTakeover and urge them to keep sharing stories during the weekend. These initiatives play a crucial role in reshaping young people’s perceptions of the industry and raising awareness about the opportunities it offers. By collaborating with our members, we aim to foster the growth of the automotive sector.
Sue Robinson, NFDA Chief Executive
NFDA Is the voice of automotive retailers – if you require any assistance, please do not hesitate to contact your member helpline at 01788 538303 or email firstname.lastname@example.org