UK New Car Registrations Rise On Heavy EV Discounting: SMMT

RTTNews | 12 दिनों पहले

(RTTNews) - UK new car registrations increased in '74' plate change month of September on heavy EV discounting, the Society of Motor Manufacturers and Traders, or SMMT, said Friday.

New car sales rose 1.0 percent to 275,239 units in September.

In what is traditionally a bumper month for new car registrations, second only to March, the performance was the best since 2020, but still down 19.8 percent off pre-Covid September 2019.

Growth in sales was driven by fleet purchases, up 3.7 percent. Private consumer demand fell 1.8 percent and the smaller business sector saw volumes drop by 8.4 percent.

Uptake of plug-in hybrids grew faster than any other fuel type in September, up 32.1 percent.

Hybrid electric vehicle registrations grew 2.6 percent, while petrol and diesel registrations declined by 9.3 percent and 7.1 percent, respectively. In the year-to-date period, new car registrations increased 4.3 percent from the previous year. SMMT Chief Executive Mike Hawes said, "September's record EV performance is good news, but look under the bonnet and there are serious concerns as the market is not growing quickly enough to meet mandated targets."

"Despite manufacturers spending billions on both product and market support - support that the industry cannot sustain indefinitely - market weakness is putting environmental ambitions at risk and jeopardising future investment," said Hawes.

टैग: GBP

UK Inflation Falls Below 2% Target

UK inflation fell below the 2 percent target and also hit the lowest in more than three years in September, piling pressure on the Bank of England to ease policy at the November meeting. Consumer price inflation weakened more-than-expected to 1.7 percent in September from 2.2 percent in August, the Office for National Statistics reported Wednesday.

RTTNews | 10घंटे 44 मिनट पहले

UK Wage Growth Weakest In More Than 2 Years

UK wage growth softened to the lowest in more than two years in the three months to August, adding support to expectations that the central bank will cut interest rates further at the next meeting. In the three months to August, average earnings excluding bonus increased 4.9 percent from the previous year, slower than the 5.1 percent increase in the three months to July, data from the Office f

RTTNews | 1 दिन पहले

UK Economy Returns To Growth

The UK economy returned to growth in August but the pace of expansion was weaker than in the first half of the year, official data revealed Friday. The real economy grew 0.2 percent in August after showing nil growth in July and June, the Office for National Statistics said. The rate came in line with expectations.

RTTNews | 5 दिनों पहले

UK House Prices Rise For First Time In 2 Years: RICS

UK house prices increased for the first time in two years in September as expectations about future interest rate cuts lifted housing market activity, survey data published by Royal Institution of Chartered Surveyors, or RICS, showed Thursday. The house price balance rose to 16 percent in September from a flat result in August. The balance turned positive for the first time since October 2022.

RTTNews | 6 दिनों पहले

UK Construction Activity Growth Fastest Since Early 2022

The UK construction activity posted its fastest expansion in nearly two-and-a-half years in September on robust output and new order growth, survey data from S&P Global revealed Friday. The construction Purchasing Managers' Index registered 57.2 in September, up from 53.6 in August. The reading was forecast to climb moderately to 53.1. The index has remained above the neutral 50.0 threshold.

RTTNews | 12 दिनों पहले

Bank Of England Could Cut Rates 'More Aggressively', Says Bailey

The Bank of England could move a "bit more aggressively" on interest rate cuts, Governor Andrew Bailey said in an interview with The Guardian newspaper, published online on Thursday, causing a steep fall in the pound to a near three-week low. The BoE had reduced its benchmark rate by a quarter-point in August, which was the first reduction since March 2020.

RTTNews | 13 दिनों पहले

UK Mortgage Approvals At 2-Year High

UK mortgage approvals increased to a two-year high in August as demand improved with easing interest rates, official data revealed on Monday. Mortgage approvals for house purchase rose to 64,900 in August from 62,500 in July, the Bank of England said. This was the highest level since August 2022 and was also above forecast of 64,000.

RTTNews | 16 दिनों पहले

UK Economy Expands Less Than Estimated In Q2

The UK economy grew at a slower-than-estimated pace in the second quarter on weaker industrial and construction sectors, official data revealed Monday. Gross domestic product advanced 0.5 percent from the first quarter, revised down from the first estimate of 0.6 percent, figures from the Office for National Statistics showed. The economy had expanded by unrevised 0.7 percent in the first quarter

RTTNews | 16 दिनों पहले

EURUSD	1.08843	GBPUSD	1.30171	AUDUSD	0.66711
USDJPY	149.446	USDCAD	1.37766	USDCHF	0.86389