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 … [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 … [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 … [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 … [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 … [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 … [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 … [Read more...]
Newslines 2 May
Aston Martin Works is announcing the availability for the first time in decades of new major components, including gearboxes and engine blocks, for some of the brand’s most iconic sports cars. Working with trusted suppliers the team at the heritage home of the world-renowned British car maker has developed entirely new engine blocks, cylinder heads, … [Read more...]
EV batteries’ life expectency misunderstood
More than half of consumers “hugely overestimate” the time it takes for used electric car batteries to lose range, according to April’s Startline Used Car Tracker. Asked to estimate typical range loss after five years, 56% said they expected the fall to be 30% or more. In fact, research shows the real world result is likely to be less than half this … [Read more...]
Britons get back into their cars
More Britons are getting back into the driving seat following the pandemic, according to new annual Motorparc data from the Society of Motor Manufacturers and Traders. However, the provision of public ev charge points has slowed and has not kept up with increasing registrations of PHEVs and BEVs. The Moorparc data shows the number of cars in use on UK … [Read more...]
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