October saw another month of contraction in the new car market, a concerning trend following August's end to two years of continuous growth. This decline is particularly worrying, as it highlights the volatility of the market right now, said Sue Robinson, Chief Executive of the National Franchised Dealers Association. UK new car buyers now have more than … [Read more...]
Finance News
EV sales continue rising
The market share of electric vehicle sales in the UK has reached over 20% for the third month running - according to New AutoMotive’s latest Electric Car Count. In October, sales of new pure EVs reached 20.8% of the market, making them the fastest growing fuel type throughout the month. The figure means that the industry is now comfortably above the legal … [Read more...]
Lexus UX300e gets new look and features for 2025
Lexus is increasing customer choice with a refreshed and extended range of its battery electric UX 300e luxury compact SUV. The new-look line-up offers additional grades and adjusted equipment specifications, together with styling changes for the cabin. The renamed entry point to the UX 300e is Urban grade opening at £39,995. Key standard features include … [Read more...]
Drivers cutting corners on safety due to rising costs
One-in-five drivers (20%) under the age of 44 have driven illegally by not putting their car through the MOT or replacing tyres when needed to save money in the cost-of-living crisis, says the RAC. Among drivers of all ages, one-in-10 (10%) admit they’ve failed to replace worn-out tyres or skipped the MOT, which is a legal requirement that guarantees the … [Read more...]
Dealerships in chaos after commission ruling
Car and van buyers have been blocked from collecting new models this week for 1 November as UK finance firms hold back monies due to dealers. It follows a Court of Appeal decision last week which outlawed undisclosed commission payments. Dealers were unable to allow collections or deliver cars as finance companies paused paying out on business already … [Read more...]
EV vans rising registrations
The latest data from the Department for Transport shows a 111% surge in the number of company-owned electric vans over the past two years. However, despite this significant growth, Vansdirect warns that there is still a long way for British businesses to go when it comes to embracing electric, as EVs only accounted for 7% of all newly registered fleet vans … [Read more...]
Premium prices slipping back, say Compare the Market
The cost of car insurance has fallen by £72 (-8%) year-on-year, according to new Premium Drivers research from Compare the Market. The average premium declined to £776 in September 2024, compared to £848 in September 2023. August 2024 and September 2024 were the first months where car insurance premiums have been cheaper than the same period in the previous … [Read more...]
Escalating costs of essential cars
New research by LeaseCar UK revealed drivers could have to pay up to £30,000 in their first year of owning a vehicle. It’s no secret that owning and running a car is one of the biggest outgoings, but one deemed as necessary by 69% of the UK. More than 11 million Brits have less than £1,000 in savings - making buying a car outright impossible for many … [Read more...]
Weekend roadtest: Lexus RZ450e
Lexus has just raised the game in the fierce fight for buyers looking at zero-emission pure battery premium cars. Enter the Lexus RZ450e series of nine models from £55,595 to £66,695 in Urban, Premium, Premium Plus and Takumi with choice of 18 or 20 inch wheels and single or bi-tone paint finishes. The 450e has the latest electronic axles effectively … [Read more...]
Remove tax barriers to safety and save lives, says IAM RoadSmart
The UK’s leading road safety charity, IAM RoadSmart, is calling on the Chancellor to take steps to both saves lives and reduce the impact of road traffic collisions in her Autumn Budget. By incentivising the take-up of additional road safety courses through the tax system, it will also help save motorists money as the UK emerges from a cost-of-living … [Read more...]
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