The UK’s electric car revolution is becoming a bloody affair. From initially resisting the new technology on cost grounds including writing off established investments in petrol and diesel engine technology and having to develop hybrid or pure electric powertrains, along with making tens of thousands of workers redundant, manufacturers have struggled to … [Read more...]
Profits possible despite a potential pitfall in 2023
A “difficult” 2023 lies ahead for the used vehicle sector but strong profits will still be possible, more than 150 delegates heard at the Vehicle Remarketing Association’s (VRA) Annual Seminar last week. Philip Nothard, chair at the industry body said that speakers at the event had detailed a picture of both economic and structural challenges. “There is … [Read more...]
BEVs are weakest in used car market, say traders
Overall, the used car market is in a strong position heading towards the tail end of the year, said Paul Hill National Association of Motor Auctions spokesman. Whilst the lack of new car registrations in the past two and a half years has stemmed the supply of used cars for forecourts, values reaching record heights has balanced this out. "NAMA Members are … [Read more...]
Auctions still doing well in recession
Despite the challenges currently facing the automobile industry, the auction market is in a positive state. Supply and demand have been stable for the last month, with summer soon to draw to an end. "We are expecting that September will see a steady surge as customers return from holidays, boosting the market”, commented Paul Hill, National Association of … [Read more...]
