Reactions to the Autumn Statement
iVendi
James Tew, CEO, said:
“There’s little in the Autumn Statement that is likely to have much direct effect on the fortunes of car dealers and the issues that they currently face, especially when it comes to how the used sector will absorb the growing numbers of EVs that will arrive over the next year or two. However, the various measures designed to help investment, especially full capital expensing, are good news and no doubt some automotive retailers will take advantage of them, while the NI cut will potentially provide a little more financial flexibility for car buyers. After the various substantial blows that the economy has taken in previous years, the chancellor is keen to promote a narrative that we’re ‘back on track’ and that might be a stretch, but we might at least be entering a phase where things have stopped getting worse. In its own way, this is to be welcomed.”
carwow
carwow has responded to today’s Autumn Statement, where The Chancellor announced the £2bn targeted investment for future zero emissions, including charging infrastructure and supply chain improvements.
Polling conducted by carwow just before the Autumn Statement revealed that:
43% would like to see the Government supporting with the switch to EVs through measures like money off and incentive schemes
41% want to see the Government do more to accelerate the roll-out of EV charging infrastructure
One in four (24%) say pushing the ban on the sales of new petrol and diesel vehicles back to 2035 has made them less likely to buy an electric vehicle
Paul Barker, Managing Editor, comments:
“Motorists have told us they do not think this Government is doing enough to encourage the switch to electric vehicles, so today’s announcements could go some way towards addressing that.
“Anything that helps incentivise the production of electric vehicle batteries is good news, especially with the uncertainty around the cost of bringing EVs into the UK from the EU. As we move towards the ban on sales of new petrol and diesel cars by 2035, we need a reliable and broad-scaled supply of batteries for EVs. Moves to attract battery manufacturing firms to the UK are very welcome.
“The policy announcement we really wanted today was a commitment to boost the UK’s EV charge point infrastructure, so it’ll be a huge relief to drivers to see Hunt’s commitment to ensuring the planning system prioritises the rollout of EV charge points, including EV charging hubs. Drivers and the wider industry have been crying out for this. A critical factor in accelerating the transition to electric vehicles is more charge points in more parts of the country, so today will feel like a huge win for drivers up and down the country.”
Autodata
James Lett, Technical Editor, says:
“Like many in the industry, we had high hopes that the Autumn Statement would recognise the critical investment and support needed in the transition to EVs. The expensive tools and widening skills gap to repair EVs is alarming, and without government support, garages and auto technicians are being left behind in the electric revolution.
“Whilst the ban on combustion engine vehicles has been extended to 2035, thousands of EVs are already on the roads and this will grow exponentially as manufacturers continue to pump an ever-increasing number of EVs into the market. But, they can only be serviced or repaired by technicians with specialist training and tools. Neither of these are cheap and there is no government investment to change that. Not only does this mean garages are losing money by turning down business, EV drivers can’t access the services they need to safely be on the road.
“Though the backbone of the automotive industry has been forgotten about today, I do hope that the message is being heard loud and clear at Downing Street. The EV revolution cannot happen until garages receive the support they need.”
LKQ Euro Car Parts
Andy Hamilton, Group Chief Executive Officer, said:
“There were some helpful announcements for garages and bodyshops in today’s Autumn Statement but also some missed opportunities.
We’ve long been vocal about the challenges they will face preparing their businesses for the future without government support, particularly in areas like the repair and maintenance of electric vehicles. So the decision to make full expensing permanent is very welcome as it should allow them to offset at least part of their investment into the equipment needed to handle both EVs and ADAS-equipped vehicles.
With the aftermarket facing a skills crisis we’ll always be supportive of more funding for apprenticeship places too. But the extra £50m announced today is specifically focussed on growth sectors and, though we’re yet to see the detail on what these will be, it’s not hard to imagine they will be the more hyped industries like tech and AI than our sector.
Freezing the small business multiplier for business rates will help garages and bodyshops to keep costs under control so is of course welcome. But it feels like another chance has been missed to reform a rates system that continues to penalise bricks and mortar-based businesses, with the risk that the freeze could be lifted at the whim of whomever is the Chancellor next year.”