Britons buying new cars are a sensible bunch, according to a new Opinium survey of 2,000 drivers. Most diligently research cars before picking one; however, it also found plenty of people swayed by emotional factors from how good a car looks to whether it had that new car ‘look and feel’. Overall, an impressive 81.2%, of the Welsh drivers surveyed, … [Read more...]
Finance News
European car prices face rise but Japanese go down
Some european cars will rise in price under the Government’s proposed post-Brexit tariffs structures. The new tariff regime would mark a shift in favour of products from non-EU countries. Even so, they mean 82% of imports from the EU would be tariff-free, down from 100% now, while 92% percent from the rest of the world would pay no border duty, up from … [Read more...]
BREAKING NEWS; Infiniti close Sunderlnd, pull out of Europe
Nissan’s luxury Infiniti brand is ending production in Sunderland and pulling out of Western Europe. Production of the Q30 and QX30 will cease within months at the plant which was told just last month that it will not get the next Nissan X Trail SUV. The decision is likely to wipe thousands of pounds off the value of any UK Infiniti models and … [Read more...]
Tradelines 6 March
A proposed ban on commercial vehicles using tyres over ten years old has attracted qualified support from the Freight Tansport Association. It says many member fleets would need tyres replacing inside a decade but some very low mileage vehicles should be exempt from the ban. About 79M cars were sold worldwide in 2018, say the manufacturers. There … [Read more...]
FCA to act on car finance commissions
Some methods used by finance brokers to reward car dealers that end up overcharging an estimated 560,000 customers about £300 million pounds a year will be banned. The Financial Conduct Authority said it found widespread use of commissions that allow brokers to set the customer interest rate and thus earn higher bonuses. “We found that some motor … [Read more...]
Newslines 25 February
The latest Mazda3 coming to the UK from May will begin at £20,595. The 18-strong range of petrol and diesel hatchbacks has five trims running up to £27,735. Ford will conduct an investigation after concerns raised by its own employees over the 'analytical modelling' standards that it employs as part of its US fuel economy and emissions compliance … [Read more...]
Exchange rate hits UK pcp costs
Car finance costs have increased by as much as 49% since Britain voted to leave the European Union because of exchange rates worsening. The tumbling pound has left UK drivers out of pocket by as much as £98 per month, or £4,606 over the course of the full contract. Sterling has tumbled in value from more than 1.3 euros to the pound in May 2016 to … [Read more...]
New car sales will stagnate this year, say makers
This year, EU car sales will stagnate at 2018 levels in terms of units sold, staying close to the 15 million new registrations mark recorded last year, according to new forecasts by the European Automobile Manufacturers’ Association. Although 2018 was the fifth consecutive year of growth, the pace of growth has slowed down significantly over the last … [Read more...]
Latest data reveals reasons motorists sell their cars.
Almost one in 10 motorists aged between 45 and 54 believe that they no longer need a car according to automotive data experts, HPI. They say this age group cited no longer needing a car as one of the main reasons for selling a vehicle and over a third (39%) of 18-24-year-old drivers sell their car because they’ve grown bored of it and want something more … [Read more...]
JLR sustains big losses in three months
Massive losses have been recorded by JLR. It has reported a £3.4B quarterly loss after writing down the value of its cars and plants. Last month it announced a 10% cut in its 42,500 employees, mostly in the UK. It is the third consecutive quarterly loss after it was hit by U.S.-China trade tensions, low demand for diesel cars in Europe and Brexit … [Read more...]
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