The second-hand prices of Britain’s most popular cars have risen by up to 57% in two years, according to AA Cars.Demand for some models is so strong that they are even appreciating with age. For example a three year-old Mini Hatch now costs 57% more than a model of the same age cost in 2019. But a five year-old model currently costs 15% more than a three year-old car did in 2019, meaning it … [Read more...]
Finance
Newslines 22 October
The arrival of the October half term will spark an ‘autumn rush’ on the roads with drivers taking an estimated 19.4m separate leisure trips between Friday and Sunday, according to RAC Breakdown.The survey of 1,400 drivers suggests that Saturday will be the most popular day on the roads with drivers planning an estimated 5.6m ‘getaway’ journeys, followed by Sunday (4.6m) and Friday (4.3m) with … [Read more...]
Suppliers face new opportunities in car sector
Britain’s car-makers and component suppliers face opportunities as the race speeds up towards a future of pure electric vehicles, delegates to the annual Autolink Conference in Cardiff were told yesterday.On the day that the UK Government announced a £620 Million grant to boost ev-sales, extend the national recharging network on-street and in homes, as well as introduce a compulsory mandate … [Read more...]
Motor industry lies at heart of world trade
The Society of Motor Manufacturers and Traders has called on government to put the automotive sector at the heart of future trade negotiations, after a new report confirms vehicles are the UK’s single most valuable goods trade export.Vehicle export revenues reached £27 billion in 2020, making them more valuable to the UK than power-generating machinery and gold, even during a year when … [Read more...]
Hatchbacks still dominate sales but vans doing well
Hatchbacks are the most popular cars among drivers in 2021, with over a third of motorists saying a hatchback will be their vehicle of choice if they buy this year, said AA Cars.At a time of surging demand in the used car market, partly caused by the supply of new vehicles being restricted due to microchip shortages, hatchbacks remain enduringly popular and are the first choice of 35% of … [Read more...]
New range anxiety – for petrol & diesel cars
With new car registrations at their lowest since 1999 and the fuel crisis showing no sign of slowing data from New AutoMotive that shows “range anxiety” is becoming a thing of the past for electric vehicle drives with the number of charging points across the UK increasing by 32%, from 18,265 in July 2020 to 24,374 in July 2021 - an increase of 6,000.Sales in September show the only segment of … [Read more...]
Fuel shortages drying up car sales, says finance company
The ongoing fuel crisis is detering new car buyers, according to Close Brothers Motor Finance.A fifth (20%) of the UK public admit the fuel shortage up and down the country has put them off buying a new car.The research, which examined the impact of the national fuel shortage on car buying, found that well over a quarter (27%) say the crisis has made them think about purchasing an … [Read more...]
September registrations worst for over two decades
New car registrations collapsed to a 22 year low last month due to the semi-conductor shortage delaying scores of models' introduction.Society of Motor Manufacturers and Traders reported sales plummeted 34.4% year on year in September – traditionally one of the busiest months for the industry after the March new-plate change.Just 214,312 new cars were registered with the latest plate … [Read more...]
EVs cheaper to insure than petrol or diesel cars
GoCompare car insurance data shows Electric Vehicles are now cheaper to insure than petrol or diesel cars.The average cost of insuring an electric car in July 2021 was £484, compared with £489 for a petrol vehicle and £534 for a diesel car.The average cost of insuring electric vehicles has also seen a steady decrease since 2019 – with a £65 drop in average costs from the first six months … [Read more...]
UK drivers shunning electric cars over costs
Over half of UK drivers say electric cars cost too much and charging points are too scarce.The Opinium survey of 2,000 UK drivers, commissioned by InsuretheGap, a supplier of Guaranteed Asset Protection, asked drivers what they thought of electric cars.Cost is the biggest concern for most drivers, with 56% saying electric cars cost too much (58% men and 54% women), rising to 65% of 55 and … [Read more...]
