Automotive

Automotive Messenger – November 2016

McLaren’s six year plan; and are you at risk of paying more VAT than necessary?

Welcome to the latest edition of Automotive Messenger, a collection of the latest insight, trends and news in automotive. In this edition we would like to highlight two articles – a strategic piece on McLaren and its distribution and retail network – and one of our tax colleagues providing insight on the pitfalls of negative equity and how this can result in HMRC demanding more VAT than is due. 

Registrations are strong, Brexit is still in the back of our minds but positivity remains. September’s new car registrations were the highest on record with 469,696 new vehicles registered. We may be heading for a market with an excess of 2.6 million units registered, but 2017 remains uncertain as Article 50 will likely be triggered by the end of March 2017.

Pitfalls of negative equity VAT, our tax specialists help you answer the question – are you at risk of paying more VAT than necessary?

McLaren Automotive, find out what the next six years’ will look like for McLaren as they focus on building the world's best two-seater supercar.

News snippets find out the latest on the electric vehicle revolution, the new technologies disrupting automotive, the latest on Brexit and much more.

UK new car registrations in the UK grew to 2,150,495 registrations between January and September, a new record for the month of September. Electric and alternative vehicle registrations lead the way, up almost 60% on the previous year.

UK new commercial vehicle registrations grew moderately for the month of September. The pick-up market continued to grow, 4x4s declined and Ford was again dominant in the quarter.

EU and EFTA passenger car registrations continued to grow in the month of September 2016 to reach the highest September on record. Italy and Spain lead the way with the strongest growth.

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