Supplies of used models will go down over the next few months as dealers traditionally hold off putting them in auctions. “Half of respondents in this month’s NAMA survey are expecting volumes to fall over the coming month. Volumes of vehicles arriving at auction centres generally reduce towards the end of the year, and this year appears to be no … [Read more...]
Finance News
Used cars sales rebound
The SMMT said used car sales rose 0.9% in Q3 after nine quarters of decline. Some 2,076,382 transactions took place between July and September, 18,925 more than the same period in 2018. Demand for diesel models was up 1.4% in the quarter with 858,442 changing hands, while petrol sales were flat with a slight drop of -0.2%. Plug-in electric and hybrid … [Read more...]
Falling out of PHEV or bridging a gap
The issues facing the British car market with the decline in Plug-in Hybrid Electric Vehicle sales in the UK this year has been outlined to media by Conor Twomey, General Manager Internal Communications and Government Affairs for Mitsubishi Motors in the UK. Mitsubishi with their Outlander PHEV more or less pioneered the launch of the PHEV market quickly … [Read more...]
Tradelines 13 November
Nissan profits have collapsed by 70% in three months. It made $278M to the end of September with retail sales down 7.5% globally, European registrations slid 23% but sales showed a steadying picture in America. JLR is looking for partners to share new technology and other costs, say media reports. BMW and Zhejiang Geely are mentioned but others may be … [Read more...]
SUVs now seen as growing polluters
A new report that indicates SUVs have become a major source of increases in CO2 emissions during the last few years should prompt businesses to consider their role on company fleets. Fleet software company FleetCheck says that the International Energy Agency document shows that growing demand for SUVs was the second largest contributor to increases in … [Read more...]
New car sales fall is not the full picture
The SMMT figures this morning show a 6.7% fall in new car registrations in October. They do not tell the whole story though, says an industry watcher. Seán Kemple, Director of Sales at Close Brothers Motor Finance, said, ““Disappointing sales figures this month, slightly down once again, point to a lack of confidence among consumers. Larger, more … [Read more...]
Dunton now Ford of Britain HQ
Ford has renamed its Dunton Technical Centre in Laindon, Essex, to Dunton Campus, Ford Britain, to highlight its new role at the centre of the company’s activities in Britain. The Dunton Campus becomes headquarters of its European Commercial Vehicles business group and home to light commercial vehicle engineering, powertrain engineering, Ford of Britain … [Read more...]
Technology overwhelming small traders
Used car dealers are being blitzed with new IT hardware and software to an extent that used car dealers’ efficiencies could be impacted when adopting new technology, according to V12 Vehicle Finance. As part of its road map to develop and launch its used stock funding, dealer stocking and consumer finance proposition, the V12 team researched the sector to … [Read more...]
Electric cars surprise running costs
Electric cars travel up to three times the distance of their petrol or diesel rivals for the same amount of money, according to research. With interest in electric cars rising, many potential buyers are left confused by the way running costs are explained, with ‘miles per kWh’ difficult to compare to ‘miles per gallon’. To help consumers, car reviews and … [Read more...]
Dealers to be banned from some car finance
The Financial Conduct Authority plans to ban the way in which some car retailers and brokers in the motor finance sector receive commission. Currently, some motor finance brokers receive commission which is linked to the interest rate that customers pay. The broker can set that rate and the FCA found that the widespread use of this type of commission … [Read more...]
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