There’s good news for drivers in Wales - the average cost of car insurance has fallen by £68 about 10% year-on-year, according to Confused.com . That's due to the typical driver cutting miles by around 2,000 due to the lockdowns, reduced working and insurers recognising fewer claims coming in so costs have been slashed. Drivers in the region can now expect … [Read more...]
Finance News
TVR begin Welsh factory preparations
TVR is pushing ahead with plans for its proposed car production plant near Ebbw Vale. Jones Brothers (Henllan) Ltd has been awarded the principal contract for a significant programme of works including replacement of the main building’s roof, the recladding of the building, extensive groundworks and also preparation of a prototype build area at the side of … [Read more...]
Buyers urged to question finance and commission rates
One third (34%) of British consumers expect car dealers to earn commission on vehicles bought on finance, and a further 28% don’t mind so long as they’re informed, according to new research from Close Brothers Motor Finance. This news comes as the FCA introduces new regulation for the motor finance industry, which comes into force on 28 January. The … [Read more...]
Brexit deal “unanswered questions” is concerning, says trade
The new, “thin” Brexit deal that is now in effect leaves many unanswered questions that could have serious implications for the UK motor industry, warns the Vehicle Remarketing Association. The trade organisation says that several key points surrounding the future of manufacturing and cross-border movement of vehicles remain vague or undefined. Sam Watkins … [Read more...]
EVs on charge in collapsed UK market
The UK new car market fell almost a third last year with registrations dropping 29.4% to 1,631,064 units, according to the Society of Motor Manufacturers and Traders today. A -10.9% decline in December wrapped up a turbulent year, which saw demand fall by 680,076 units over 12-months to the lowest level of registrations since 1992. Against a backdrop of … [Read more...]
When a car is not enough
The Ford Transit van entered the best-selling used car list for the first time in 2020, in a year in which online deliveries grew substantially, says AA Cars, the AA’s used car website. The Ford Transit was the ninth best-selling used vehicle of 2020, as a growing number of people who had lost work or been made redundant turned to delivery driving to … [Read more...]
Brexit deal provides hope for automotive sector
The Society of Motor Manufacturers and Traders want to ensure all automotive companies benefit from continued tariff-free trade with our largest market after agreeing on Brexit terms. While no substitute for the benefits provided by remaining in the EU, the TCA provides hope for the future, with a foundation on which to build, domestically and … [Read more...]
Newslines 22 December
The Welsh Government will allocate £20 Million next year for more cycleways. Its Active Travel investment is in addition to £274.7M for Transport for Wales rail and metro services. Public Health Wales said 352 cases of Covid-19 were identified at the DVLA centre at Swansea since September. Sixty-two cases have been identified at the call … [Read more...]
More families shifting towards used cars
In a year shaped by a pandemic and strict social distancing restrictions, drivers have still been able to get their hands on the car they wanted, said Seán Kemple, Managing Director of Close Brothers Motor Finance. "In fact, a new-found reticence to use public transport has shifted attitudes toward car ownership, a trend likely to grow even … [Read more...]
SUV sales are stalling as hatchbacks & wagons pick up
November saw a double-digit year-on-year drop in European new car registrations as part of the ongoing impact of the coronavirus pandemic. In November, the market registered 1,045,129 new cars – 13% less than for the same period in 2019 and it has recorded the lowest volume since 2014, when just 989,500 units were registered. Year-to-date figures continue … [Read more...]
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