Wales’ largest dealer groups, Days, saw its turnover rise but pre-tax profit fall last year. Companies House accounts for the year ended December 31, 2023, show the new and used cars business with 18,000 strong rental fleet, and one of the Car Dealer Top 100, reported an 11% increase in turnover from £257.774m to £285.195m but its profit before tax sank … [Read more...]
EU car makers holding breath over China duties
Car makers are closely watching developments after the EC decided to impose provisional duties on imports of electric cars manufactured in China, based on initial findings of an anti-subsidy investigation initiated last year. ACEA has consistently affirmed that free and fair trade is essential in creating a globally competitive European automotive … [Read more...]
Tradelines 12 June
Residual values of used cars with manual transmission are in decline, with some models worth as much as 21% less than their automatic equivalents and fewer manual cars for sale in 2024 than ever before, reports Car Dealer magazine. Among the manufacturers that no longer offer any new models with manual transmission are Volvo, Mercedes, Jaguar and Lexus, all … [Read more...]
Newslines 10 June
The Volkswagen Group is entering a new business segment with the Elli charging and energy brand and will develop, build and operate large-scale stationary storage systems together with partners along the value chain. The largest projects in the Elli project pipeline currently have a capacity of up to 350 MW and a storage capacity of 700 MWh, which will … [Read more...]
Covid cars masking missing features
Cars made during the pandemic with irregular specifications are causing valuation issues as they start to appear on the used market, says the Vehicle Remarketing Association. It is causing a headache for dealers and annoying customers who think they are getting models with higher specifications than is the case. Marcus Blakemore, chair of the trade body’s … [Read more...]
New government must power up EV affordability
Half of motorists (50%) say the government should do more to make electric cars affordable, according to new research. June’s new Startline Used Car Tracker also finds that 35% believe action should be taken to make electric cars easier to buy, 34% that more money should go into making chargers more widely available, and 26% that power from chargers should … [Read more...]
Newslines 7 June
INEOS Automotive has introduced a unique service called Arcane Works that creates limited editions of its award-winning Grenadier station wagon and then allows customers to further personalise the small-batch, hand-finished 4X4s with customised detailing and bespoke materials. Retaining the Grenadier’s best-in-class off-road capability with modern … [Read more...]
Emissions are biggest upcoming challenge for fleets
Implementing zero emissions policies will be the number one issue facing fleets over the next three years, according to new research. Almost four out of 10 (39%) fleet decision makes named this as their biggest challenge, followed by adapting to low emissions zones (38%), adjusting to restrictive public policies on petrol and diesel (37%) and mitigating … [Read more...]
Bigger tyre bills are rolling up costs
Fleets are paying out more money for fashion-led bigger wheels and tyres than a few years ago. The percentage of company cars being fitted with 18 inch-plus tyres has increased by a third in three years, new data released by epyx shows. In the first quarter of 2021, 42% of cars fitted with tyres through the business’s TyreServe service were 18 inches or … [Read more...]
BEVs are trickling along
Battery EVs continued their best ever start to the year, as sales in the first 5 months of 2024 rose 10% on the same time last year, whilst the market share of BEVs in new car sales reached 17.9%. Total car sales were up just under 2.2% in May 2024 on May 2023 levels, but pure petrol and diesel sales cratered over the same period, falling from 55% to 45% … [Read more...]
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