Nick Williams has been named as the new managing director of Lex Autolease, part of the Lloyds Banking Group transport division
What are the fleet impacts of the Chancellor’s Autumn Statement? We take a look at the likely impacts with Jeff Whitcombe
Catch up on the latest leasing broker news in the 04 October 2022 newsletter
Lloyds Banking Group funds £1bn of electric vehicles and is responsible for 1 in 10 EV registrations on the road
The head of Lex Autolease, Richard Jones, is leaving his post to join Aldermore’s MotoNovo vehicle finance business
Lex Autolease looks at EV whole life savings and some of the maintenance myths surrounding EVs
Latest SMMT registration figures for August show structural changes in the market
FLEET and business sales have taken the brunt of the decline in new car registrations during 2022 as car manufacturers favour more profitable retail channels.
July saw new car registrations fall for the fifth consecutive month: a 9.0% drop and a total of 112,162 cars.
Year-to-date the total is 914,241, down 11.5% on 2021.
According to the SMMT, the fall was down to supply issues, particularly the ongoing shortages of semiconductors. The industry organisation has now downgraded its forecast for 2022 to a fall of 2.8% over 2021 which would mean a market total around 1.6 million new cars. However, to achieve that figure the market would have to stage a significant recovery from its current run rate.