More than eight out of 10 used car dealers expect used car prices and values to continue to fall this year, new research shows. The March Startline Used Car Tracker says that one in five (20%) think the rate of fall will accelerate, 28% believe they will continue at the current speed, and 36% that they will be less severe. Paul Burgess, CEO at Startline Motor Finance, said, “Over the last year, … [Read more...]
Newslines 2 January
China's biggest electric car maker in the world, BYD, announced the next stage of its European strategy with the construction of a massive manufacturing and production centre in Szeged, Hungary. The state-of-the-art facility will be the first of its kind built by a Chinese automotive company in Europe and will have a highly advanced car production line as it gradually ramps up manufacturing and … [Read more...]
Newslines 21 February
Britain’s small car makers have been exempted from forthcoming EU laws on zero emissions by 2035 if they register under 1,000 cars annually. But it’s unclear if the UK Government will permit them to continue selling petrol models in Britain after that date. The Public and Commercial Services union said members will be walking out in protest against pay, jobs, pensions and conditions at the … [Read more...]
Ford Fiesta is good second hand buy if you’re careful
After 47 years, Ford has announced it will stop manufacturing its iconic Fiesta model in June 2023 despite being Britain’s most-owned car and the most desirable for new drivers. That’s because the company is focused on its electric future and meeting the demand for its SUV models. The Fiesta is also a firm favourite among first-time drivers, thanks to its cost efficiency, compact size and easy … [Read more...]
Newslines 4 March
Wales-based insurer Admiral saw its profits rise 26% during 2021. It posted a pre-tax profit of £769m and means 10,000 employees will now receive free shares up to £3,600 as an incentive after the business benefitted from reduced cars on lockdown roads and more people working from home during the pandemic. Bridgend Council has again brought chaos to residents living near Brynmenyn … [Read more...]
Newslines 17 February
Pricing and specification for the Mazda2 Hybrid has been announced. Arriving in the UK in May, and available to order now, the Mazda2 Hybrid will be offered across three trim grades: Pure, Agile and Select with prices from £20,300 as a result of a joint venture with Toyota, who will make the car and badge it as a Mazda. Kia UK Limited has won the Feefo ‘Gold Trusted Service’ award for a … [Read more...]
Newslines 12 January
Pirelli tyres equip the new Ford Mustang Mach-E GT Performance Edition, the fastest and most powerful version of the first all-electric SUV produced by the Blue Oval. A new technical collaboration between the companies has resulted in a specific Pirelli P Zero tyre, part of a family of Ultra High Performance tyres that offer the right balance between driveability and comfort. Automotive experts … [Read more...]
Retail pricing becoming more volatile as shortages ease
Under normal circumstances, September would be a month of celebration and investigation for the industry as a whole with new car registrations taking priority over the used car business within retailers nationwide. However, 2020 has been a unique year so far and this time September has been a month fighting to sustain the recovery that started in June when the retailer doors opened for business … [Read more...]
Potential potholes for planning ahead
The impact of the coronavirus crisis and potential effects of Brexit are making planning beyond the short term almost impossible in the remarketing sector. So reports the Vehicle Remarketing Association (VRA), which points out that the currently booming market is arguably obscuring the potential dangers that lie ahead. Chair Sam Watkins said, “As has been widely reported, the sector is very, … [Read more...]
Used prices volatility reflects fuel types and models
Used car prices are becoming more volatile and reflecting changes in fuel types and body styles as well as size, say Cazana director of instights, Rupert Pontin. The first week of August saw a marginal shift in the retail market with footfall at the retailers and online enquiries slightly down on the levels of recent weeks. Firstly, this is hardly surprising given it is the holiday season … [Read more...]