Britain’s new car market is “cooling" this summer. Figures from the Society of Motor Manufacturers and Traders showed a 0.1% rise compared to a year ago and put down to business sales keeping it ahead. Sales in the first seven months of 2016 were 1,599,159 but the industry has been expecting a slow down and SMMT chief executive Mike Hawes said it was important for the Government to maintain … [Read more...]
Finance
Brokers expect leasing demand to grow
The first ever survey of vehicle leasing brokers suggests good times ahead for the sector with 87% of brokers reporting a buoyant market with demand for leases or other financial products on the up as SMEs, corporates and private buyers take advantage of low lease rates. Conducted by the Leasing Broker Federation, an independent membership organisation that supports leasing brokers across the … [Read more...]
Fleets suffer with SUV orders
The growing popularity of SUVs in all sectors of the company car fleet market means that fleets could increasingly struggle to hit cost and emissions targets, says Chevin Fleet Solutions. The fleet management software specialist points out that even the most car-like of SUVs tend to have worse emissions and fuel economy than their equivalent hatchbacks or saloons by a margin of around 10-20% - … [Read more...]
EV stock is on a charge
The growing popularity of electric vehicles has seen a massive rise in the availability of affordable, second-hand electric vehicles in the UK over the past two years, according to the AA’s used car portal AA Cars. It looked at the numbers of EVs advertised on its portal in Q2 2016 and found that stock levels were a staggering 652% higher than Q2 2014 and up two thirds (66%) on the same period … [Read more...]
Brexit boost to used car sales
The decision to leave the EU could provide a boost to the used car sector at the expense of new car sales, predicts Startline Motor Finance. The company believes that the economic conditions already resulting from Brexit – especially the weaker pound and higher cost of capital – will make it very difficult for motor manufacturers to continue offering the levels of support that has kept the new … [Read more...]
Britain is a nation of wheeler dealers
According to research, within three months of buying a used car half of Brits have found a fault that has had to be repaired. The online vehicle purchasing company, SellCar, has discovered that on average Brits are forced to spend £182.65 to fix their used car within the first three months of ownership. But is this the buyers or the sellers fault? With over a quarter of us (28%) having … [Read more...]
Britain’s secret ‘grey fleet’ is keeping UK moving
The full extent of the UK’s “grey fleet” is revealed in the most comprehensive report into private vehicles used for business. The nation’s grey fleet comprises 14 million cars – 40 per cent of all vehicles on the road – and costs employers more than £5.5bn a year in mileage claims and car allowances. Many are used in the public sector instead of council or government vehicles. According … [Read more...]
Welsh Government statement on Circuit of Wales
Revised investment plans for the proposed Circuit of Wales were yesterday rejected for a second time by the Welsh Government. Ken Skates AM, Cabinet Secretary for Economy and Infrastructure said in a statement to the Senedd and media yesterday afternoon, "I would like to update Members on progress with the Circuit of Wales project following a meeting I had earlier today with Michael Carrick, … [Read more...]
Audi sports cars are A-rated for low running costs
Audi sports cars come with an A-rating for low costs. The latest analysis from cap hpi looks at the total cost of ownership to reveal the 10 sports cars with the lowest motoring costs over the first 3 years. Once all the servicing, fuel and other motoring costs are taken into account, which cars perform the best? The Audi TT Coupe 1.8FSI sports 2DR has the lowest total cost of ownership, … [Read more...]
Pump prices not fuelling EU exit row
A pump price rise has not fuelled the row over Britain voting to leave the EU, says the RAC. RAC fuel spokesman Simon Williams said, “Despite the dramatic fall in the strength of the pound in the aftermath of Britain’s referendum vote to leave the European Union there has not been as big an effect on wholesale fuel prices as might have been expected. This means forecourt prices may only rise … [Read more...]