Car auction prices are expected to increase or remain stable in October. Conversion rates improved during September as a factor of shortening vehicle supply at a time when dealer and car dealerships were looking for stock for their forecourts, said Louise Wallis (pictured), Head of the National Association of Motor Auctions, commenting on the latest … [Read more...]
Finance News
Volvo and Geely to merge combustion engine operations
Volvo Cars and Geely intend to merge their existing combustion engine operations into a stand-alone business in order to establish a new global supplier that will seek to develop next-generation combustion engines and hybrid powertrains. The proposed new business would clear the way for Volvo Cars to focus on the development of its all-electric range of … [Read more...]
Car repayments now second highest after mortgage or rent
A third (33%) of Welsh drivers say their monthly car payments are their second highest expense, after their rent or mortgage monthly payments. Drivers in the North East (37%) and West Midlands’ (36%) regions of England and Scotland (35%) are the most likely to agree with this. The Opinium survey of Welsh drivers among 2000 UK drivers, commissioned by … [Read more...]
Newslines 8 October
Automotive components’ companies in Wales will get a series of meetings on dealing with Brexit issues and paid for by the Department of Business, Energy and Industrial Strategy. Customs, Employment and Supply Chain Risk awareness sessions have been secured by the Welsh Automotive Forum in conjunction with the Society of Motor Manufacturers and … [Read more...]
Pump prices still too high, says RAC Fuel Watch
Motorists are still being overcharged for fuel despite a reduction at the pumps in September, according to RAC Fuel Watch. Fears the refinery fires in Saudi Arabia in the middle of September would lead to higher pump prices have not been shown on forecourts where the cost of a litre of petrol fell by just under a penny (0.87p) last month – making for two … [Read more...]
Electric & premium brands’ car sales soaring
Brits are going bonkers for battery powered cars. September sales figures from the Society of Motor Manufacturers and Traders show a staggering 236.4% increase in pure electric models registered, albeit from a low point 12 months earlier. But their sales would have been higher if manufacturers had supplied more and there is now a long waiting list for the … [Read more...]
Premiums continue to fall despite IPT hike
Average premiums have continued to fall in the third quarter of 2019 indicating a trend of reducing premiums, according to the latest Premium Drivers report from comparethemarket.com. While premiums have historically fluctuated throughout the year, average premiums are now markedly lower than the same time last year. In Q3 2018, average premiums were £732. … [Read more...]
Diesel demand still significant
While the anti-diesel rhetoric has turned a number of people away from diesel cars, an estimated 4m drivers remain convinced it is the right option for them and will be opting for diesel car next (13%), according to research from the Britain Under the Bonnet report from Close Brothers Motor Finance. However, concerns about taxes and the ability to sell … [Read more...]
Tradelines 18 September
During the typical service lifetime of a car, nearly 60% of owners are never contacted by the sales team of that mainstream servicing dealer. This easily missed opportunity for future sales has been highlighted by Cooper Solutions which urges dealers to bring together their sales and servicing departments to nurture relationships and drive sales with the … [Read more...]
Car makers call for boost to charging points and Gov. incentives
At the start of a new EU political term, the European Automobile Manufacturers’ Association is today urgently calling for a comprehensive plan to enable the transition to zero-emission mobility in Europe. This should include a major ramp-up of charging and refuelling infrastructure, as well as meaningful purchase incentives to stimulate sales, helping to … [Read more...]
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