Latest data from Institute of the Motor Industry reveals a chasm in EV skilled workforce compared to growth in BEV, PHEV and HEV sales. As the latest SMMT data shows that EV sales represent 23% of the new vehicle market in May, analysis by the Institute of the Motor Industry (IMI) reveals that by the end of 2020 only 6.5% of the automotive sector was EV … [Read more...]
Post Coronavirus symptoms trouble trade
The recovery from Covid-19 continues to be the main concern for car dealers when thinking about the future of their business, according to new research from Close Brothers Motor Finance. Over a third (35%) of dealers surveyed in the Dealer Satisfaction Survey said that Covid-19 recovery and the potential for future lockdowns poses the biggest threat to … [Read more...]
RAC underwrite used evs and hybrids
A new warranty for used electric and hybrid cars is launched today by the RAC. The RAC Electric Vehicle warranty will be supplied exclusively through the 1,300-strong RAC Dealer Network and can be applied to any used electric or hybrid car up to a maximum of eight years old and with 80,000 miles on the clock at the time of purchase. Cover is available for … [Read more...]
Slow recovery in new car registrations
New car sales are slowly picking up after the first full month of showroom openings, said the Society of Motor Manufacturers and Traders. Registrations in May reached 156,737 units, an almost eightfold increase on the same month last year, but down -14.7% on pre-pandemic May 2019, and -13.2% on the 10-year May average. Against a more positive economic … [Read more...]
Vans will have to carry more miles, warn ATS Euromaster
Fleets will need to keep their new vans in service for longer than planned because of the component shortages affecting vehicle production across the board from cars to heavy trucks. With van production slowed or suspended thanks to lack of microprocessor chips, lack of available product means fleets will not be able to replace vehicles that would normally … [Read more...]
Rising hesitancy over buying is the new norm
There is no doubt that new and used car sales are right at the forefront of the car retailer’s commercial strategy at the moment, said Rupert Pontin, Director of Insight at Cazana, the motor trade analysts. As another week of strong sales performance passed by and the retailers continued to make the most of the pent-up buyer demand, new car sales looked … [Read more...]
Newslines 1 June
cinch reports there’s been an unprecedented upsurge in searches for convertibles from ever-optimistic Brit car buyers looking to purchase a car that will allow them to literally feel the wind in their hair and the sun on their face. From 4 January to 26 April, cinch saw a 303% increase in convertible car views, with views steady ever since and last week … [Read more...]
Big shake up in classic cars fans’ rankings
Data from one of Europe’s leading website for classic car sales, Car & Classic, highlights a significant shift in the volume and type of cars enthusiasts are searching for after a year of restrictions and lockdowns. Popular classics such as MGB GT, Volkswagen Beetle and Ford Cortina, the latter falling from second to ninth when comparing Q1 2020 and Q1 … [Read more...]
Car sales are rising but beware of finance costs
More than half of UK drivers (51%) are intending to buy a new or used car in the next six months, now that showrooms have re-opened and travel curbs are lifting said comparethemarket.com. Drivers are set to spend an average of £15,042 on these cars, with 39% planning to buy either an electric or hybrid vehicle. The main reasons that drivers cite for … [Read more...]
Fleets expressing RV concerns over petrol & diesel models
Customers are already beginning to express residual values fears over buying new diesel or petrol cars and vans thanks to the prospect of rapid electrification, FleetCheck is reporting. Through its sister Fleetfind operation, the fleet software company helps its client base source vehicles, and says that buyers are concerned about the prospects for internal … [Read more...]
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