POWER: UK EV Market Share Jumps to 21% from 15% Last Year
Feb-05 15:06
The UK’s EV market share surged to 21.3% in January, up from less than 15% a year ago, as registrations of fully electric cars jumped 41% year-on-year to 29,900, data from SMMT show, cited by The Times.
- Despite this growth, EV sales still fell short of the 22% target set for 2024 and remain behind the 28% requirement for 2025 under the Zero Emission Vehicle (ZEV) mandate.
- Overall new car sales fell 2.5% in January to 139,000, reflecting weak consumer sentiment, high borrowing costs, and rising car prices.
- Additionally,Tesla saw a decline, with UK sales down 7% to 1,400, as European brands like BMW, Mini, Volkswagen, and Peugeot ramped up EV production.
- Chinese carmaker BYD overtook Tesla in UK EV sales, mirroring its global rise as the world’s largest electric car manufacturer.
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US TSYS: Post Durables/Cap-Goods Orders React
Jan-06 15:04
- Treasuries drift near early session lows after mixed data: Durable Goods orders come out lower than expected, Cap Goods Orders higher than expected.
- The Mar'25 10Y futures contract trades -5.5 at 108-15 (108-12 overnight low), focus on initial round number technical support at 108-00 & 1.500 proj of the Oct 1 - 14 - 16 price swing.
- Curves holding steeper with the short end outperforming, 2s10s +2.642 at 34.110 (May '22 highs), 5s30s +1.050 at 40.787.
MNI: US NOV FACTORY ORDERS -0.4%; EX-TRANSPORT NEW ORDERS +0.2%
Jan-06 15:00
- MNI: US NOV FACTORY ORDERS -0.4%; EX-TRANSPORT NEW ORDERS +0.2%
- US NOV DURABLE ORDERS -1.2%
- US NOV NONDEFENSE CAP GOODS ORDERS EX AIRCRAFT +0.4%
BOE APF SALES RESULTS: GBP725mln of medium-dated gilts with bid-to-cover of1.65x
Jan-06 14:56
Previous bid-to-cover ratios: most recent first: 2.12x, 2.39x, 2.02x, 1.51x, 3.25x.
Source: MNI, Bloomberg
