The SMMT said used car sales rose 0.9% in Q3 after nine quarters of decline. Some 2,076,382 transactions took place between July and September, 18,925 more than the same period in 2018. Demand for diesel models was up 1.4% in the quarter with 858,442 changing hands, while petrol sales were flat with a slight drop of -0.2%. Plug-in electric and hybrid … [Read more...]
Finance
Falling out of PHEV or bridging a gap
The issues facing the British car market with the decline in Plug-in Hybrid Electric Vehicle sales in the UK this year has been outlined to media by Conor Twomey, General Manager Internal Communications and Government Affairs for Mitsubishi Motors in the UK. Mitsubishi with their Outlander PHEV more or less pioneered the launch of the PHEV market quickly … [Read more...]
Tradelines 13 November
Nissan profits have collapsed by 70% in three months. It made $278M to the end of September with retail sales down 7.5% globally, European registrations slid 23% but sales showed a steadying picture in America. JLR is looking for partners to share new technology and other costs, say media reports. BMW and Zhejiang Geely are mentioned but others may be … [Read more...]
£60 added to average premiums by comparison sites, claim
A new report sheds light on the practices price comparison websites are implementing to persuade vulnerable young drivers to part with their hard-earned cash - when they already pay 149% more than national average on their insurance. Earlier this month the Financial Conduct Authority released an assessment of the insurance industry, which lifted the lid on … [Read more...]
SUVs now seen as growing polluters
A new report that indicates SUVs have become a major source of increases in CO2 emissions during the last few years should prompt businesses to consider their role on company fleets. Fleet software company FleetCheck says that the International Energy Agency document shows that growing demand for SUVs was the second largest contributor to increases in … [Read more...]
New car sales fall is not the full picture
The SMMT figures this morning show a 6.7% fall in new car registrations in October. They do not tell the whole story though, says an industry watcher. Seán Kemple, Director of Sales at Close Brothers Motor Finance, said, ““Disappointing sales figures this month, slightly down once again, point to a lack of confidence among consumers. Larger, more … [Read more...]
Dunton now Ford of Britain HQ
Ford has renamed its Dunton Technical Centre in Laindon, Essex, to Dunton Campus, Ford Britain, to highlight its new role at the centre of the company’s activities in Britain. The Dunton Campus becomes headquarters of its European Commercial Vehicles business group and home to light commercial vehicle engineering, powertrain engineering, Ford of Britain … [Read more...]
Ghost brokers’ deals will haunt you
GoCompare Car Insurance is warning drivers to swerve away from heavily discounted car insurance deals advertised on social media or marketplace websites, and to trust their gut instincts. Victims of fraudsters known as ‘ghost brokers’, lose on average £769 and face penalties for uninsured driving. "Ghost broker" is the name given to someone who poses as … [Read more...]
Used cars three times as popular as new – AACars
Motorists are three times more likely to be driving a car they bought used rather than new, according to the AA’s used car website. The AA-Populus poll of more than 15,000 drivers found that 29% had bought a ‘nearly new’ car most recently, compared to the 26% who opted for a brand new car, and 25% who bought a used car which was more than five years … [Read more...]
Technology overwhelming small traders
Used car dealers are being blitzed with new IT hardware and software to an extent that used car dealers’ efficiencies could be impacted when adopting new technology, according to V12 Vehicle Finance. As part of its road map to develop and launch its used stock funding, dealer stocking and consumer finance proposition, the V12 team researched the sector to … [Read more...]
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