Used electric cars and vans are expected to fall further in value in coming months, according one industry expert. The slippage might also see petrol and diesel models cut back by manufacturers to meet tightening ev sales targets by Government. Interference in the ICE market will have the effect of driving up values of existing models as a consequence. Used electric vehicle values could fall by … [Read more...]
Stocking issues continue for dealers
More dealers say that stock supply is currently the biggest challenge facing their business than at any point in over a year. May’s Startline Used Car Tracker shows that 84% believe it is their number one concern. This is the highest level since the monthly survey first began 13 months ago, with the previous high of 77% being recorded in July 2022. Additionally, 54% say that the general … [Read more...]
Newslines 23 May
RM Sotheby’s has successfully conducted its biggest ever Villa Erba sale, grossing a remarkable €52,953,100 in front of a packed salesroom on the shores of Lake Como. The undeniable star attraction of the sale was the no reserve Aurora Collection, which sold for an astonishing cumulative value of €25,288,500 after hotly contested bidding throughout with a number of collectors in the room, on the … [Read more...]
Banks must finance more EV deals
Almost six out of 10 dealers (58%) believe that more support is needed from their motor finance providers to retail electric vehicles, shows new research. May’s Startline Used Car Tracker reports that 41% say their lenders are less keen to finance EVs, 10% want higher deposits from buyers and 5% charge higher interest rates. A further 5% say their lenders simply won’t touch EVs at all. Just … [Read more...]
Bank Rate rise is challenge to traders
The decision by the Bank of England to raise their interest rates by 0.25%, to 4.5%, will inevitably have implications on the motor trade, according the car dealers' body. The Bank of England has confirmed that interest rates will rise by 0.25%, from 4.25% to 4.5%, the twelfth consecutive rise since December 2021. Sue Robinson, Chief Executive of the National Franchised Dealers Association … [Read more...]
Use your car less and drive up bills and trouble
Cutting down on your car use and mileage might be a false economy in the long run, according to Vertu Motors. Cars provide convenience and freedom to motorists, but, with the current pinch on the cost of living, many Brits may be looking to cut down their mileage to save money. However, the experts at Vertu Motors have warned that car owners still need to maintain their vehicles, even if they … [Read more...]
Parts, people and processes are slowing repairs
Service, maintenance and repair issues mean that fleets are facing excessive vehicle off-road time, the Association of Fleet Professionals is reporting. Paul Hollick, chair, said AFP members buying SMR were regularly reporting a range of problems. Some of these, such as parts supply, were felt to be outside the control of suppliers - but others, including levels of communication, were more … [Read more...]
Tradelines 10 May
Responding to feedback from members, the Independent Garage Association (IGA) has added a new EV Practical Fault-Finding course to its suite of high-quality, cost-effective skills training. The one-day course will focus on real-world faults that have been identified by IGA members as frequently affecting their customers’ vehicles and will be delivered at various RMI training locations, with the … [Read more...]
Certified Recycled parts see booming demand
Motorists in the UK saved £99 million in 2022 by opting for used parts and accessories instead of brand-new replacements, according to research by eBay. The online marketplace revealed the impact of second-hand parts as it relaunched its Certified Recycled programme, which sells recycled vehicle parts from 81 certified sellers. Certified Recycled parts can be up to 70% cheaper compared to OEM … [Read more...]
Fleets warned over accelerated EV tyre wear
Fleet managers should be prepared for altered tyre wear rates on electric company cars and vans. As increasing numbers of fleets move to electric, the balance of SMR spend will alter, argues ATS Euromaster. EVs are expected to cost less to service, thanks in part to fewer moving parts and the absence of requirements such as oil changes, but tyre life expectancy is likely to change compared with … [Read more...]
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