Fleet use of independent garages is around a quarter higher for company cars and vans aged four years old compared to their one year old counterparts, shows research. New data from epyx shows that buying of service, maintenance and repair (SMR) shifts from 30% independent garage and 70% franchise dealer at 1-2 years old to 35%/65% at 2-3 years old, 40%/60% … [Read more...]
Financial squeeze is cutting used car choice
The financial squeeze is starting to hurt car buyers. AA Finance said motorists are borrowing 5% less for used car purchases this year as the cost-of-living crisis bites. This time last year, the average loan would be enough to buy seven of the 10 most popular used cars but only four would be affordable after price rises were taken into account this … [Read more...]
Wales write-offs are lowest in UK
Have an accident in Wales and your car is less likely to be written off than any other part of Britain, according to the latest analysis. One in three (37%) UK drivers have had a car written off by an insurance company, with this rising to two fifths of men (41%), compared to a third of women (33%). In the Opinium survey of 2,000 UK drivers, for … [Read more...]
EVs price fall expected as fleets change
Second hand electric cars and vans are expected to dramatically fall in price as businesses contracts roll-over. According to independent transport research group New Automotive, companies now run around 475,000 electric cars, and 200,000 plug-in hybrids, most of which will be held for 2-4 years before being resold into the second-hand market for 50% of the … [Read more...]
Con-artists are recovering their own cars
The latest used car scam is restealing, warn investigtors. The UK’s oldest specialist motor insurance loss adjuster, Claims Management & Adjusting, has reported a worrying increase in the used car scam, particularly in the North of England. The con sees an unsuspecting consumer purchasing a cloned vehicle, only to have it stolen within days by the very … [Read more...]
Used ev sales stabilize on demand and availability
Falling prices have fueled greater interest and resale of used electric cars, according to a new survey. Latest data from Auto Trader’s Retail Price Index show the recovery in used electric vehicle values has continued to gather pace in October due to the combination of increasing consumer demand for greener vehicles fuelled by attractive prices and a … [Read more...]
We’re keeping our cars for longer
A survey finds that almost half of drivers (45%) are holding onto their cars for longer than usual because they are unsure whether to buy a petrol, diesel or electric car, rising to 56% of under 34s, compared to 36% of over 65s. The survey of 2,000 drivers carried out by Opinium on behalf of InsuretheGap.com also finds that just over two fifths of drivers … [Read more...]
Agency selling model worries more dealers
Dealer worries over the growth of agency agreements have doubled in the last month, according to October’s Startline Used Car Tracker. The factor was named as a future challenge to their business by just 22% of used car retailers in September but has jumped to 42% this month. Paul Burgess, CEO at Startline Motor Finance, said, “For most of this … [Read more...]
Service bookings taking longer
Lead times for fleet service, maintenance and repair have risen by more than 57% since the start of the pandemic, according to new data from epyx. In January 2020, the average time between when a company car or van booking was created to when the vehicle went in for work was 8.11 days - but today stands at 12.76 days. This data is taken from epyx’s 1link … [Read more...]
Car complaints are rising
The Motor Ombudsman has seen the highest volume of service and repair cases brought by consumers in a single quarter so far this year. Between 01st July and 30 September, the Ombudsman for the automotive sector accepted a total of 1,348 new submissions from motorists, up 10% from 1,226 in the second quarter, and equating to a 13% increase versus the volume … [Read more...]
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