The UK’s used car market declined by -8.3% in the first quarter of 2020, said the Society of Motor Manufacturers and Traders. Growth in January and February, up 2.9% and 4.0% respectively, was wiped out by a -30.7% fall in March, making it the lowest March on record as coronavirus measures that came into effect and closed retailers. Demand for … [Read more...]
Finance News
Finance company develops “sofa showroom”
Close Brothers Motor Finance has bolstered its Showroom proposal platform by giving motor dealers the opportunity to bring the showroom directly to their customer’s home with remote quote and apply. The enhanced functionality to the Showroom platform will enable dealers to email vehicle quotes directly to the customer following initial discussions around … [Read more...]
Garages welcome furlough proposals
The Chancellor’s update and extension to the furlough scheme allowing businesses to bring staff back to work on a part-time basis is very welcome. said Stuart James, Chief Executive of the Independent Garage Association. The IGA wrote to Chancellor of the Exchequer, Rishi Sunak on 29 April, requesting a partial furlough scheme that would allow employees to … [Read more...]
Tradelines 13 May
Bus and train passengers will have to queue for fewer seats and are being advised to stagger journey times and consider alternative routes if possible, under Government plans for the gradual return to work. Cars are preferred for longer commutes so expect jams, but cycling and walking is also suggested after the Government said it wanted people to return to … [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 … [Read more...]
Newslines 12 May
RAC fuel spokesman Simon Williams welcomed the move by Morrisons supermarket to cut fuel to under 100p a litre, but had a warning. “Unfortunately though there is a darker side to any large price cuts – they heap yet more pressure on smaller independent fuel retailers, who in some cases are already fighting for survival as a result of the coronavirus … [Read more...]
Sunday drive: On the road & in the news 10 May
I’m still keeping calm and carrying on sifting through the latest automotive news items and press releases pinging into my Inbox, writes David Miles. Whilst the COVIC-19 news is not good there are some brighter worthwhile snippets of information worth passing on. New life goes on - Toyota Corolla proves reliant for Robins We motoring journalists during … [Read more...]
Virus spreads to car sales in Wales
Coronavirus chaos hit the Welsh new car market with devastating effect last month. The traditional leaders and also rans have been swept away and replaced by many unexpected models. The successes included supercars in the sales chart compiled by the Society of Motor Manufacturers and Traders. Dealers who managed to take advance orders for new models and … [Read more...]
Residuals of electric cars may shock you
The electric car market is on a charge. New models are joining an ever growing sector and their numbers are expected to very quickly swell once the coronavirus lockdown ends and a semblance of normality returns to showrooms. So it was interesting to study the results of a valuation survey compiled by Vanrama which looked at the current crop of cars and … [Read more...]
Ask insurers for premium refunds over lockdown
GoCompare is urging drivers who are concerned about paying their car insurance premiums to contact their insurer as soon as possible, rather than wait for a refund. The comments follow Admiral’s decision to refund £25 to each of its car insurance customers, which has prompted speculation about what other insurers might do. In GoCompare’s view, other … [Read more...]
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