Some premium pure electric cars have slumped in value, according to Auto Trader. The Jaguar I-Pace crashed by 15.6 per cent year on year (YoY) and dropped by 4.1 per cent between December 2022 and January 2023. The average asking price of the Austrian-made Jaguar was £48,613 last month. Other premium second-hand EVs also slipped further in January, including the Tesla Model S (down six per cent … [Read more...]
Finance News
EU Automotive trails rest of the world, warns boss
Ahead of the unveiling of the Green Deal Industry Plan, Luca de Meo, President of the European Automobile Manufacturers’ Association and Renault Group CEO, is urged EU leaders to put in place an ambitious and structured automotive industrial policy, to rival those of other world regions. Concerned about the EU industry’s eroding competitiveness on the global stage, Mr de Meo (above) made this … [Read more...]
Banking on a better buy
As motorists grapple with rising costs we look at the pros and cons of acquiring a car in today's market-place and the possible best way for you. If you pay for your car with a loan, it means you own the car outright from the point of purchase and can be much more cost effective. With a car on finance, you don’t own the vehicle while you are making payments. There are different forms of car … [Read more...]
Bureaucracy adding to car theft misery
New Home Office figures have revealed car thefts are higher than the reported figures but it’s also getting harder for owners to get settlements from their insurers as a new layer of bureaucracy has been added. Analysis by Claims Management & Adjusting indicates car theft victims are frequently waiting more than seven days longer for insurance payouts due to the new National Police Chiefs’ … [Read more...]
EV car sales expected to soar in 2023
Motoring experts at DriveElectric predict a significant rise in EV sales in 2023, after supply issues hindered EV sales growth in 2022. The figure is based on DriveElectric’s own forecasts and is a significant increase from the 267,203 battery electric vehicles registered in the UK in 2022. Mike Potter, CEO at DriveElectric said, “We have seen preference for electric vehicles continue to … [Read more...]
Funky Cat will make feathers fly
The feathers are about to fly in Britain’s all-electric car market after the entry of a new Chinese brand this spring. The GWM ORA Funky Cat First Edition is being imported from £31,995 by a part of the IM Group, which is already well known through its Subaru and Isuzu distribution and its supply of assured parts for the Mitsubishi marque, which pulled out of direct UK sales three years … [Read more...]
UK Automotive crashes to 66 year low
UK car production last year fell to its lowest level since 1956, according to annual statistics from the Society of Motor Manufacturers and Traders. It said a total of 775,014 cars were built in 2022 – a 9.8 per cent slump on the 859,575 made during the previous year, when the recession and pandemic were still gripping businesses. The industry blamed the global shortage of semiconductors and … [Read more...]
Newslines 27 January: Ford to make big job cuts
A massive jobs cull in Germany and other European countries is expected by the union representing Ford workers. Some positions are expected to be axed in the UK as well while the US car maker transitions towards a fully electric range from 2025, initially slashing over 3,200 jobs in Ford of Europe, and realigning with R&D in America. Bentley Motors announced a recruitment drive creating 200 … [Read more...]
MoT test extension roundly criticised
Extending the time before a vehicle faces its first MoT test proposed by the Department of Transport has been criticised as dangerous for high mileage models of cars, vans and commercial vehicles. Following the announcement of a new government consultation on possible changes to the MOT, RAC head of roads policy Nicholas Lyes said,“While we’re not opposed to delaying a new vehicle’s first MOT, we … [Read more...]
Little vans in short supply
Throughout 2022 franchised dealers have reported strong demand for light commercial vehicles under 3.5 tonnes, but the continued restrictions to component supply have frustrated manufacturers in their ability to produce sufficient new vehicles to match orders, said Sue Robinson, Chief Executive of the National Franchised Dealers Association. In 2022, total LCV registrations fell by … [Read more...]
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