The UK new car market achieved a 12-year high in January, said the Society of Motor Manufacturers and Traders. The total was 174,564 vehicles last month – a 2.9% year-on-year uplift and the highest level since 2005. The alternative fuelled vehicle segment grew 19.9% to take a record 4.2% market share – the first time 4% has been … [Read more...]
Finance News
Dealers’ positive view of sales prospects this year
The majority of UK car dealerships are positive about their business prospects for 2017, with 65% expecting growth over the next year, say Close Brothers Motor Finance. Despite many industry figures predicting the sector will contract in 2017, the majority of dealers surveyed monthly by Close Brothers Motor Finance remain resolutely positive about the … [Read more...]
Shining a light on new golden oldies
Automotive data expert, cap hpi, has produced a shortlist of the new models that will show strong residual value performance. The company provides residual value forecasts for new vehicles up to five years in the future. Its Gold Book team looked at new models launching in 2017 and picked the ‘ones to watch’ for fleet and private buyers. Andrew … [Read more...]
Tradelines 18 January
About 56% of respondents to a recent LeasePlan survey agreed that financial jargon has left them feeling more confused than before they started the conversation. Nearly 40% said they had dropped the purchase or product as a result of not understanding the abbreviations. An Autoglass survey of 250 British fleet managers found worries about the cost of … [Read more...]
Car market is thermometer of UK economy
It has been a year of ups and downs for the economy. The first half of 2016 was dominated by uncertainty in the lead up to the EU Referendum, which caused many businesses to halt investing and hiring until the result of the vote was known. Once the result for Brexit was confirmed, this understandably shook the economy and caused several industries to … [Read more...]
‘Grey sales’ are bringing colour to UK market
New car registrations are booming but there are doubts over who is actually making sales. The SMMT said yesterday that 2,685,724 new cars were registered last year, a 2.3% increase on the year beforehand and fifth year of growth. But the registrations in Wales, the only part of the country to see a fall, dipped 1.4% to 91,940. That could be … [Read more...]
Isuzu pull in some seasonal offers
Isuzu has special offers on D-Max Yukon and Utah models. D-Max Yukon comes well equipped with 17” alloys, leather steering wheel with audio controls, cruise control and chrome trim to the grille and rear bumper. Utah takes this a step further, with boasts automatic climate control, leather upholstery, and heated front seats which come in handy on cold … [Read more...]
Analysts expect 2017 car sales to fall
The UK new car market will fall by around 3.5% next year to around 2.6 million cars, predicts Glass’s. However, while the figure looks disappointing in isolation, the vehicle data provider points out that this will still be higher than any year in the last decade except 2016. Rupert Pontin, director of valuations, said: “We have become used to the new … [Read more...]
Fifth of motorists pay more than car’s worth
A fifth of UK motorists have paid more for a vehicle than its true value, says HPI. It found paying over the odds for a car was highest amongst 18-24 year olds (30%) and nearly a fifth (17%) admitted rushing the purchase of their first car, as they were eager to get on the road and start driving. Three quarters (74%) of drivers also confirmed they … [Read more...]
Wales leads as car sales pass historic record
New cars are pouring onto UK roads at a faster rate than ever, led by Wales. SMMT figures show 184,101 new cars were registered in the UK this November, with the market increasing by a steady 2.9%. The growth has helped deliver more than 2.5 million new cars on to British roads so far this year – the first time the milestone has been reached in … [Read more...]
