Six in 10 used car dealers believe at least one existing major European car maker will be driven out of business in the next 10 years. Likely causes reported in April’s Startline Used Car Tracker include the cost of investing in electrification, mentioned by 40% of dealers, and their inability to compete with low-cost vehicles from Chinese new entrants … [Read more...]
Tradelines 22 April
New data has revealed a substantial shift in the British automotive landscape, with Chinese electric vehicle manufacturers almost tripling their market share in just four years. Analysis of the latest registration data by car leasing and contract hire specialist LeaseCar shows that Chinese brands now account for around 8% of all licensed plug-in cars … [Read more...]
Motability is changing for users this year
The Motability scheme for disabled drivers and families is changing and users face higher costs. The business supplies new and nearly new cars to disabled drivers in return for their monthly allowance but now needs to offset £300m of new taxes imposed following last year’s Budget, with some costs passed on to users. They may also have to pay an initial £400 … [Read more...]
Discounts driving EV sales are unsustainable, say car makers
Electric car registrations are accelerating driven by huge manufacturer discounts. The UK new car market grew by 6.6% in March, typically the busiest month of the year, with 380,627 new vehicles registered, according to the Society of Motor Manufacturers and Traders. Registrations in Wales saw the smallest rise of just 5.85% to 12,275 cars in March … [Read more...]
British loyalty to Chinese makers tested
Almost seven out of 10 motorists say they would be more likely to buy a car from a Chinese manufacturer with a UK factory, according to new research. April’s Startline Used Car Tracker shows 41% believe it would be a good sign if Chinese companies became part of the UK motor industry and 31% want to back companies that invest here. Also, 26% believe … [Read more...]
Business issues warning over EV ppm tax
The Government’s proposed pay-per-mile electric vehicle duty could cost the UK’s fleet sector £260 million a year by 2028 through compliance alone, according to new analysis from the British Vehicle Rental and Leasing Association. The cost is based on BVRLA member data, and driven by both direct administration (£75 million) and lost productivity from … [Read more...]
Millions of pounds going to car buyers
Millions of car buyers who took out finance with hidden costs will receive payouts this year after the Financial Conduct Authority today confirmed compensation for mis-sold agreements. Announcing the final details this afternoon after markets had closed, the watchdog said the average payout will be around £830 – higher than it previously stated. However, … [Read more...]
£300,000 for Welsh VW convertors
A £300,000 investment from the Development Bank of Wales will drive the next phase of growth for Bridgend-based campervan conversion specialists Holbrook Customs. Delivered through the Wales Flexible Investment Fund, the investment will allow Holbrook Customs to boost production, expand its team and bring more work in‑house, while strengthening local job … [Read more...]
Fuel bills are worrying motorists
Rising fuel bills are motorists major concern. RAC head of policy Simon Williams said: “Drivers tell us the cost of motoring is a major concern, and fuel is a huge contributor to that, so making sure they’re paying a fair price at the pumps is essential. For that reason, we welcome the competition watchdog's scrutiny of what’s happening on forecourts … [Read more...]
New Chinese brands now spreading through used market
Almost half of used dealers (45%) say they have added cars from Chinese new entrants to their stock, according to new findings. February’s Startline Used Car Tracker shows 45% say they sell quickly, 33% they represent good value and 20% buyers like the cars on offer. However, 37% of motor retailers are waiting to see how reliable they prove to be, 20% … [Read more...]
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