SMMT report CV registrations down in Oct. but host event to boost funding in the auto sector
The biggest van related news this week has been the Society of Motor Manufacturers and Traders (SMMT) news reporting that commercial vehicle registrations were down 8.1% in October to 21,661 units, rolling year down 0.9% to 293,312. In addition, truck registrations dip to 3,867 units, down 8.1% in the month, but rolling year up 16.3%to 47,352 and October also saw van registrations down to 17,794 units, rolling year down 3.6%, with 245,960 registrations.
"SMMT recently updated its forecast for light van registrations, suggesting a 6.5% drop in van volumes for 2012, a situation reflected by the weak October market that fell 8.1% versus 2011," said Paul Everitt, SMMT Chief Executive. "Despite almost 10% decline in the month, trucks have performed well in 2012, up 13% for the year-to-date after significant growth in the rigid sector earlier this year."
For more details and to view the SMMT's full October 2012 commercial vehicle registrations news release and data tables, please click here.
The other big story to come out from the SMMT this week is the announcement of their 'Meet the Funder' event, which aims to enhance the high-profile banks, financial support services, and venture capitalists understanding of the UK's automotive supply chain and boost funding in the sector. This will hopefully help to move the auto industry forward and we will see better numbers in commercial vehicle registrations to follow.
With confirmed support from some of the UK's largest high-street banks including Barclays, HSBC, Lloyds TSB, Royal Bank of Scotland and Santander, SMMT's 'Meet the Funder' event is set to be the largest automotive-specific access to finance networking event of its kind, providing a forum to build new and strengthen existing relationships and boost lending in the auto industry.
"Improving access to finance is vital for the growth of the UK automotive supply chain and to securing high-value jobs and prosperity for the long-term,” said Paul Everitt, SMMT Chief Executive. "I am delighted that the finance and automotive industries are working together to build strong commercial relationships and maximise the opportunities flowing from the sustained investment by global vehicle manufacturers. SMMT's 'Meet the Funder' event is designed to progress relationships and facilitates discussion between banks, non-bank lenders and industry. This will help to build trust and overcome barriers to successful business development."
SMMT's 'Meet the Funder' event is taking place on 21 November at Cranmore Park, Solihull, and automotive suppliers, lenders and funding bodies keen to maximise this opportunity are encouraged to register their attendance as soon as possible. Please visit the SMMT website for more details by clicking here.
"SMMT recently updated its forecast for light van registrations, suggesting a 6.5% drop in van volumes for 2012, a situation reflected by the weak October market that fell 8.1% versus 2011," said Paul Everitt, SMMT Chief Executive. "Despite almost 10% decline in the month, trucks have performed well in 2012, up 13% for the year-to-date after significant growth in the rigid sector earlier this year."
For more details and to view the SMMT's full October 2012 commercial vehicle registrations news release and data tables, please click here.
The other big story to come out from the SMMT this week is the announcement of their 'Meet the Funder' event, which aims to enhance the high-profile banks, financial support services, and venture capitalists understanding of the UK's automotive supply chain and boost funding in the sector. This will hopefully help to move the auto industry forward and we will see better numbers in commercial vehicle registrations to follow.
With confirmed support from some of the UK's largest high-street banks including Barclays, HSBC, Lloyds TSB, Royal Bank of Scotland and Santander, SMMT's 'Meet the Funder' event is set to be the largest automotive-specific access to finance networking event of its kind, providing a forum to build new and strengthen existing relationships and boost lending in the auto industry.
"Improving access to finance is vital for the growth of the UK automotive supply chain and to securing high-value jobs and prosperity for the long-term,” said Paul Everitt, SMMT Chief Executive. "I am delighted that the finance and automotive industries are working together to build strong commercial relationships and maximise the opportunities flowing from the sustained investment by global vehicle manufacturers. SMMT's 'Meet the Funder' event is designed to progress relationships and facilitates discussion between banks, non-bank lenders and industry. This will help to build trust and overcome barriers to successful business development."
SMMT's 'Meet the Funder' event is taking place on 21 November at Cranmore Park, Solihull, and automotive suppliers, lenders and funding bodies keen to maximise this opportunity are encouraged to register their attendance as soon as possible. Please visit the SMMT website for more details by clicking here.
Comments
Post a Comment