Britain's new car market rose 1.2% in August, said the Society of Motor Manufacturers and Traders. The growth, albeit marginal, is the first seen since February with some 68,858 new vehicles joining the road during what is typically the second quietest month of the year as many buyers choose to wait for a ‘new’ numberplate in September. In Wales, new … [Read more...]
Inflation puts brakes on ev models
Rising inflation and cost of living will put the brakes on car sales, particularly electric models, says Close Brothers Motor Finance. It will also slow down the UK Government’s drive towards greener policies for other products and services, according to Lisa Watson, Director of Sales at Close Brothers. The cost-of-living crisis is having a … [Read more...]
Newslines 15 July
Mercedes-Benz will continue holding a stake in Aston Martin through an investment fund. Aston Martin said today it was looking to raise £653 million pounds through a right issue to shareholders, bringing in Saudi Arabia's sovereign wealth fund as its second-largest shareholder after the Lawrence Stroll controlled Yew Tree Consortium and Mercedes-Benz AG … [Read more...]
Car sales take another battering in May
New UK car registrations fell -20.6% to 124,394 units in the second weakest May since 1992, after the 2020 pandemic-hit market, as supply shortages continued to hamper new purchases and the fulfilment of existing orders, according to the latest figures from the Society of Motor Manufacturers and Traders. Registrations amounted to 124,394 last month after a … [Read more...]
Newslines 22 April
Kia has revealed UK pricing and specification details for the all-new Kia Niro as customer pre-orders for the second-generation open with deliveries in the autumn. There is a choice of 139bhp 1.6 litre hybrid, 180bhp 1.6 litre plug-in hybrid and 64.8kWh pure electric models in three trim levels from £27,745, £32,775 and £34,995 respectively for each … [Read more...]
Car buyers researching rights more easily
The Motor Ombudsman’s Knowledge Base online resource designed to make it quicker and easier for motorists to resolve their query or complaint in relation to buying and owning a car prior to submitting a dispute, has achieved the milestone of one million views since launching in January 2019. Accessed via the ‘Find an answer’ button at the top of every … [Read more...]
The changing face of car sales and part exchanges
More manufacturers selling direct to the public is going to change the dealership model in future. The effects of the growth of franchise dealer agency models on the remarketing sector are not yet understood but could be far-reaching, according to the Vehicle Remarketing Association. Last year, Genesis launched as a manufacturer only on-line sales platform … [Read more...]
Suppliers face new opportunities in car sector
Britain’s car-makers and component suppliers face opportunities as the race speeds up towards a future of pure electric vehicles, delegates to the annual Autolink Conference in Cardiff were told yesterday. On the day that the UK Government announced a £620 Million grant to boost ev-sales, extend the national recharging network on-street and in homes, as … [Read more...]
Fuel shortages drying up car sales, says finance company
The ongoing fuel crisis is detering new car buyers, according to Close Brothers Motor Finance. A fifth (20%) of the UK public admit the fuel shortage up and down the country has put them off buying a new car. The research, which examined the impact of the national fuel shortage on car buying, found that well over a quarter (27%) say the crisis has … [Read more...]
September registrations worst for over two decades
New car registrations collapsed to a 22 year low last month due to the semi-conductor shortage delaying scores of models' introduction. Society of Motor Manufacturers and Traders reported sales plummeted 34.4% year on year in September – traditionally one of the busiest months for the industry after the March new-plate change. Just 214,312 new cars … [Read more...]
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