Trade prices for good quality used cars have reached a level where it is almost impossible for many dealers to make a profit on the windscreen price and they are instead relying on returns from their F&I department, says the Vehicle Remarketing Association. The organisation says that demand in the used sector for almost all kinds of stock is at levels … [Read more...]
Finance News
Big Data helps pick future classics
Used car buyers with a keen eye for an investment could benefit from a new online tool that reveals the cars that are appreciating and could become collectors’ items and there are a few surprises. ‘Future classics’ created by automotive data and valuations expert HPI is an online site that allows users to find out which cars are likely to appreciate in … [Read more...]
Thieves target leasing deals and users
The British Vehicle Rental and Leasing Association has been made aware of a spate of fraudulent activity, where scammers are advertising bogus vehicle leasing deals on social media and are extracting money from unsuspecting customers. Using social media advertising, including Instagram, the scammers are posing as BVRLA members to lure in customers … [Read more...]
New car sales plunge 20% in September
The UK new car market fell by -20.5% in September, according to the Society of Motor Manufacturers and Traders. It reported 338,834 vehicles were registered in the month when the new registrations plate came into force, down around 87,000 on the previous year as new testing requirements continue to affect supply and distort the market. The impact was … [Read more...]
Congestion is threat to business growth
Congestion is increasingly becoming a critical business issue according to the latest research from the Mercedes-Benz Vans Business Barometer. Delivery drivers say that, on average, 16% of their working day is lost due to congestion, which means, based on a (very conservative) 8 hour working day this equates to 1 hour 17 minutes a day, or more than 6 … [Read more...]
Watch scheme saves £500M cars over time
More than £1/2 billion worth of uninsured UK vehicles have been saved from potentially being crushed in the last decade including Lamborghinis, Ferraris, Bentleys and Aston Martins. Vehicles including supercars and high-value cars to the tune of £543,712,611 that had been confiscated from uninsured drivers were among those saved from being scrapped, … [Read more...]
Buyers seriously considering ev and fuel cell cars
Green-group Transport & Environment say 40% of car buyers across Europe will buy or lease an electric or fuel cell powered, but manufacturers are slow to meet demand. A considerable 5-12% of citizens across the countries surveyed say it is very likely they'll buy an electric next and their MORI survey shows there is an immediate opportunity to grow … [Read more...]
£2.5M to clean up older polluting CVs
The Low Carbon Vehicle Partnership welcomed the announcement that up to £2.5 million Government funding is being made available to increase the range of vehicle retrofit technologies capable of cutting emissions from larger road vehicles already in use and enable them to meet Clean Air Zone and ULEZ requirements. The funding will support vital testing of … [Read more...]
Welsh motorists tailing UK buying average
Just over a third of Welsh drivers would consider buying a new car, some way behind the national average. They are also less likely to look at a second hand car than the average and more likely to put up with their present model. But the gap is narrowing and with sales incentives in showrooms the car sales market is hotting up between new and … [Read more...]
Newslines 24 September
Nissan is working with the European Space Agency and created a go-anywhere ground based observatory. It uses a Navara and bespoke trailer to reach the best places off road to look view the night sky with a 16-inch mirror telescope. University of Wales Trinity St Davids is holding an engineering open session 4-7pm on wednesday 26 September in its centre … [Read more...]
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