Deliveries of new cars fell by -1.9% in the UK during November with 153,610 joining the road, according to the Society of Motor Manufacturers and Traders. It is the second consecutive monthly decline, and the third decline in four months, as the market contracts amid the race to meet tough EV market share targets. Demand from private buyers, among whom … [Read more...]
Resellers told to expect a big market change
It seems 2024 will be the year of 'peak petrol' when it comes to how UK cars are powered, more than 160 delegates heard at the annual seminar of the Vehicle Remarketing Association. Louis Maxwell, senior insight manager at Auto Trader, told the audience at The Slate, Warwick University, that growth in sales of electric vehicles (EVs) meant that volumes of … [Read more...]
£300M Ecclestone F1 collection being sold
Former F1 supremo Bernie Ecclestone will sell his extraordinary collection of historic Grand Prix and Formula 1 cars amassed over 50 years. Ecclestone, 94, was for decades the commercial rights holder of Formula 1, and was therefore the man who made it the global sporting powerhouse that it is today and has engaged Tom Hartley Jnr Ltd.. It is fair to say … [Read more...]
Tavares quites Stellantis in shock move
The automotive industry has been rocked by the sudden resignation of Stellantis boss Carlos Tavares after ‘different views’ emerged between him and the board. The car maker – which runs Fiat, Peugeot, Citroen, Vauxhall, Jeep, Alfa Romeo, Chrysler and DS – said Tavares had stepped down with immediate effect on Sunday and an interim boss will head the massive … [Read more...]
Luton shut-down raises more fears
Last week's announcement that the Luton van plant will close in April with the loss of about 1,200 assembly jobs and thousands more in the supply chain has starkly brought home the issues facing the automotive sector and the components supply industry is struggling to survive as well. Ford plans to cut 800 UK jobs among 4,000 going in Europe and Nissan has … [Read more...]
EV sales slowly rising in most but not all markets
The global market share of petrol and diesel has fallen by a fifth in two and half years, according to data from New AutoMotive’s latest Global Electric Vehicle Tracker. Sales of internal combustion engine vehicles have slumped from 78% to 63%, with the market showing no sign of this trend slowing. Meanwhile, in the same period, electric vehicles (EVs) have … [Read more...]
Outlook for EV sales is worsening, say car makers
New evidence of worsening outlook for electric vehicle market reinforces need for urgent action, said Continental car makers. New data from S&P Global reveals a worsening outlook for the EU battery-electric vehicle (BEV) market amid shifting economic conditions. Between the first and second halves of 2024 market expectations significantly evolved, … [Read more...]
Rising petrol prices spark more ev interest
Almost all dealers believe that there is a direct link between higher petrol prices and buyers' interest in electric cars. November’s new Startline Used Car Tracker shows that 52% say the correlation is “significant” while 47% believe there is “some” impact. Overall, 60% think consumers are attracted to electric cars by low refuelling costs, 37% say higher … [Read more...]
Another Chinese brand coming to Britain
Xpeng is the next Chinese brand coming to the UK early next year, it was announced. The G6 SUV will lead the importation of a range which will be handled by the very experienced IM Group, which have enormous experience over almost 50 years with Subaru & Isuzu and recently added GWM of China to its portfolio while handling the parts operations for … [Read more...]
UK car market is turning around
The landscape of leading car brands in Britain is looking different with the arrival of more pure electric cars. Traditional market leading brands are taking a back seat as manufacturers who were among the first to "go-electric" are making big inroads among motorists and businesses seeking to "go-green" and the Skoda Enyaq (above) topped October's … [Read more...]
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