Buyers are turning their backs on new cars in favour of used models, says a leading finance house. Brexit, a global slowdown, and confusion over fuel type have caused 2.4 million drivers to think twice about buying new car. The findings from a new report published today by Close Brothers Motor Finance found, in the past year, the proportion of drivers planning on buying a used car … [Read more...]
What Brexit means to Welsh automotive businesses
Welsh Government and the Welsh Automotive Forum have been looking at the implications of a no-deal Brexit and produced guidance notes for businesses. UK import tariffs in a no-deal scenario - The Government has published details of the UK’s temporary tariff regime for no deal. The regime would be temporary, and the Government would closely monitor the effects of the tariffs on the UK … [Read more...]
Newslines 26 March
The number of motorists ditching vehicles in Wales has increased by more than 200% in five years, as the region has become a scrapyard for abandoned cars. Details obtained by Confused.com through Freedom of Information requests to local authorities in Wales reveals 466 abandoned vehicles were removed by councils in 2017/18 – that’s one car per day on average, at a cost of £30,793. Delaying … [Read more...]
New car tax changes and how they affect you
The Government’s Spring Statement 2019 has outlined how April 2019 changes to vehicle-related taxes will hit fleets and drivers. Chancellor of the Exchequer Philip Hammond’s second Spring Statement was an update on the health of the UK economy and the state of the Government’s finances, rather than laying out any major new tax or spending announcements. The fleet industry had hoped that the … [Read more...]
Metro plan risks hitting Brexit buffer
The South Wales Metro multi-million-pound project faces being derailed if the UK leaves the European Union without a deal, warn the Welsh Government. Economy Secretary Ken Skates said Welsh Government officials are seeking clarity on what happens to necessary land transfers being managed by UK Government as part of the process. South Wales Metro project will see a revitalised rail and bus … [Read more...]
Minister meets the motor industry in Wales
Wales Economy Minister Ken Skates met key players from the automotive industry affected by the recent Honda announcement to discuss how Welsh Government can best support the industry as they navigate challenges associated with Brexit and rapidly changing technologies. With Honda’s decision to close its Swindon facility affecting some 2,000 supply jobs in Wales, and other manufacturers such as … [Read more...]
European car prices face rise but Japanese go down
Some european cars will rise in price under the Government’s proposed post-Brexit tariffs structures. The new tariff regime would mark a shift in favour of products from non-EU countries. Even so, they mean 82% of imports from the EU would be tariff-free, down from 100% now, while 92% percent from the rest of the world would pay no border duty, up from 56%. Under the plan, the UK car … [Read more...]
Dealers confidence is cooling, says survey
Confidence amongst dealers continues to remain high at the start of 2019. The vast majority (93%) saying they were confident about business prospects for the coming 12 months, according to the latest findings from Close Brothers Motor Finance’s Dealer Satisfaction Survey. However, the results also showed a shift in the proportion of dealers who said they were ‘very confident’ in the previous … [Read more...]
Motor industry dispels myths on road to Brexit
As the clock ticks towards a deadline for Brexit, the UK automotive industry outlines its views on ‘no deal’ impact, as Parliament debates the meaningful vote. Many commentators and politicians cite the automotive industry in Brexit discussions so, as Parliament debates the meaningful vote, the Society of Motor Manufacturers and Traders (SMMT) has published a clear rebuttal of some of the many … [Read more...]
Newslines 8 March
The forthcoming Aston Martin DBX going into production in Wales later this year has been undergoing cold-weather testing in Sweden's arctic circle. Pirelli’s R&D Sottozero Centre at the Flurheden Proving Ground provides a range of extreme environments, from snowy roads to ice handling courses, allowing Aston Martin’s vehicle dynamics specialists – led by Aston Martin Chief Engineer Matt … [Read more...]