The European automotive supply industry, a vital pillar of the EU economy, is confronted with volatility and uncertainty from both their customers and upstream suppliers. Despite facing substantial headwinds, industry players maintain a cautious optimism, navigating through challenges and strategising for transformation. High levels of uncertainty surrounding new projects and EV demand in … [Read more...]
Auctions still doing well in recession
Despite the challenges currently facing the automobile industry, the auction market is in a positive state. Supply and demand have been stable for the last month, with summer soon to draw to an end. "We are expecting that September will see a steady surge as customers return from holidays, boosting the market”, commented Paul Hill, National Association of Motor Auctions spokesman, after a … [Read more...]
Britain unprepared for ev switch in eight years
Rising electric costs are blowing the fuse on plans for expanding ev sales in Britain. A comprehensive survey by Rivervale Leasing found that the escalating cost of energy is the most common concern, as 21% say that they think the potential of higher home charging tariffs could stop the UK from switching to electric. Vince Pemberton, Chief executive officer at Rivervale Leasing admits, “It’s … [Read more...]
Is the pricing bubble about to burst? ask BuyaCar
Used car prices may have reached a ceiling, signalled by a shrinking cost gap between newer and older cars. According to the online car supermarket BuyaCar.co.uk, the average price paid for a 2021-registered car is just 4.6% higher than for cars registered in 2020. BuyaCar research shows that the gap was 24.1% in 2019, before the coronavirus pandemic and the global electronic chip shortage … [Read more...]
EC steel tariffs hitting car industry recovery & jobs, say suppliers
The European Association for Automotive Suppliers is concerned that the European Commission’s proposal to extend the safeguard measure which is restricting steel imports into the EU will hurt the competitiveness of automotive suppliers and put thousands of jobs at risk. Continuing the safeguard measures in a time where steel mills are struggling to meet demand, and prices for steel have reached … [Read more...]
Sparks of realism needed for electric and hybrid vehicles
Electric and hybrid vehicles must become more affordable for consumers and more profitable for producers, according to GKN. For that to happen, suppliers must find new and better ways to make electric propulsion more economically viable. GKN Automotive’s technology roadmap focuses on reducing the premium for e-mobility, while maximising the benefits. Lower costs, optimum efficiency, NVH … [Read more...]
Car makers’ warning on prices after Brexit
There will be severe repercussions for the European motor industry if there is no free trade agreement Britain before the end of the year and motorists will have to pay more for models. That's the stark warning this week from the car makers' body, ACEA, which includes the Society of Motor Manufacturers in Britain, who warned a disorderly future could cost over £101 Billion by 2025. In a … [Read more...]
Used cars recovering, expect prices to rise
The used car market is beginning to show signs of greater activity with the increase in the number of dealers transacting car sales online rising by the day. Now that socially distanced delivery has been introduced, both business and consumer confidence is starting to grow, and more dealers are being able to transact the whole purchase process in a more seamless fashion making the customer … [Read more...]
Buyers looking for dearer models after lockdown
Data from the online car marketplace BuyaCar.co.uk reveals that the average price of cars being reserved for purchase when lockdown is eased has shot up to a record level. Average prices paid on BuyaCar.co.uk fell to a three-year low of £11,366 during April this year - down from £13,590 paid during April 2019. But the first week in May has seen the average price of a car reserved for future … [Read more...]
UK ev prices not as high as you may think
We know electric cars are expensive in Britain, but they are a fraction of the price charged in other countries, writes Robin Roberts. Sometimes they are dearer in the UK, but overall a survey for Compare the Market found Britain ranked 13th out of nearly 50 locations. The world’s most popular mass market ev is the Nissan Leaf and looking at global prices it averaged £26,345 in the UK. Live in … [Read more...]