Tens of thousands of more jobs are likely to disappear from the UK automotive sector before the end of the year, writes Robin Roberts. Some 11,349 jobs so far axed following lockdown will grow and despite this week’s 11% rise in new car registrations the outlook is bleak. That’s because the first upturn in showroom sales came at the end of … [Read more...]
Finance
Beware of holiday ‘hang ons’ with car hire
Holidaymakers planning to hire a car in the UK this summer should check the price of the car hire ‘extras’ they need, as the cost at the rental desk can differ by hundreds of pounds. That’s according to a study of Sixt, Europcar, Enterprise and Hertz in eight UK cities includding Swansea by iCarhireinsurance.com, provider of stand-alone car hire excess … [Read more...]
Tradelines 5 August
The car market turned upside down in July, said Sean Kemple, MD of Close Brothers Motor Finance. The bounce back from near-zero sales in April to a 11% uplift in July reflects the momentous release in pent-up demand because there is usually a summer slump, but 2020 has been anything but normal. Right now it’s the used car market where the real growth is … [Read more...]
New car sales rise in hoped for lift to market
Pent up demand after lockdown eased is thought to have driven a rise in new car registrations last month. Figures from the Society for Motor Manufacturers and Traders due to be released later this morning are expected to show an 11% rise compared with the same month in 2019. December saw the last increase but it was a blip after a year of decline. The new … [Read more...]
One-off Bristol sports car up for sale
Car enthusiasts are getting a once-in-a-lifetime chance to buy a unique one-off four-year-old British sports car, and it could cost them hundreds of thousands of pounds. The Bristol Bullet roadster is among items being disposed of by joint liquidators of Britsol Cars, which folded earlier this year. Jeremy Frost and Patrick Wadsted of Frost Group … [Read more...]
Newslines 4 August
Ferrari earnings have skidded because of supply chain and coronavirus pandemic issues. Earnings fell 60% to £111,680,000 in Q2 but the full year sales are expected to dramatically pick up by spring 2021 and be at the lower end of their original forecast or about £30 Billion. Fuel price rises recorded by the RAC this week will wipe out savings from cheaper … [Read more...]
UK needs major rethink for EV charging network
Solving the infrastructure challenge is one of the final pieces of the electric vehicles puzzle, said Dan Hutson, head of motor insurance with comparethemarket.com. Ofgem’s focus on building capacity for 11 million electric cars in the UK will be welcome news to many who want an electric car but are concerned about the volume of charging points. He said, … [Read more...]
Hyundai charge into the ev lead on cost
ChooseMyCar has taken a look at how much it costs to charge each EV currently on the market, as well as their electric range in miles to calculate which EV’s are the cheapest to drive and charge. Taking the top spot for the cheapest car to drive is the Hyundai IONIQ Electric, which has a range of 155 miles on a fully charged 40.4 kWh battery, which works … [Read more...]
Newslines 31 July
The cost of insuring a car has decreased by £80 over the past six months, according to new data from comparethemarket.com. It now costs an average of £1,182 to insure a car for those aged between 17-24 and while premiums have historically fluctuated throughout the year, average premiums remain significantly lower than the same time last year and are now at … [Read more...]
Car dealers are optimistic of recovery
The UK motor industry has been hit hard by Covid-19, but car dealers are optimistic about the future of the sector. New research from the Britain Under the Bonnet report, from Close Brothers Motor Finance, reveals that short term confidence plummeted during April, but medium to long term optimism has begun to improve. At the beginning of 2020, 98% of car … [Read more...]
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