Almost all dealers (97%) surveyed in June’s Startline Used Car Tracker say that more support is needed from motor finance providers for electric vehicle (EV) funding. In the research, 52% say their lenders are less keen to finance EVs, 45% charge higher finance rates and 21% want higher deposits. Also, 14% say their lenders won’t finance EVs at … [Read more...]
BEVs are trickling along
Battery EVs continued their best ever start to the year, as sales in the first 5 months of 2024 rose 10% on the same time last year, whilst the market share of BEVs in new car sales reached 17.9%. Total car sales were up just under 2.2% in May 2024 on May 2023 levels, but pure petrol and diesel sales cratered over the same period, falling from 55% to 45% … [Read more...]
Poor reliability & higher costs drive change, says Carwow
Reliability and higher running costs are the top reasons for selling their motor according to a new survey by Carwow, the online car-changing marketplace. Nearly eight out of 10 respondents (78%) cited reliability as the biggest reason for changing their cars, while increased running costs (71%) came a close second on their list for choosing to … [Read more...]
Newslines 9 February
Car dealers face becoming the focus of a new customers financial scandal similar to PPI claims of the last two decades. The Financial Conduct Authority is investigating cases of finance houses not paying out compensation to customers over now-banned ‘discretionary commission arrangements’ and the watchdog is using its powers under S166 of the Financial … [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...]
Tradelines 27 September
A new study by Auto Trader has found that the number of people claiming they’ll never buy an EV has nearly doubled, on the back of the government’s U-turn last week. Of the 1,700 in-market car buyers who responded to questioning, 37 per cent said they were unlikely to ever buy an EV and the figure is close to double the 21 per cent of people who said they … [Read more...]
Tradelines 2 August
New electric tram trains that will revolutionise transport across the South Wales valleys were unveiled this week at their new £100 million depot at Taff’s Well. As part of the South Wales Metro project by Transport for Wales, they are capable of operating on both electric lines and battery power up to 62mph and carry 252 passengers. Commuter scooters … [Read more...]
Tradelines 14 June
Used car sales for the UK’s Top 200 dealers showed signs of recovery in May after a dramatic slide in the previous month. Data from our used car partner CarCondor.co.uk showed sales of second-hand cars jumped by 2.9 per cent to 164,138 in the fifth month of the year and follows a poor performance in April which saw sales plummet 10.54 per cent to 159,478, … [Read more...]
One-in-six new cars sold now electric
In March, electric cars accounted for 16.21% of all new car registrations in the UK, as the exponential growth in EV uptake seen in recent years begins to stabilise. While demand for electric vehicles is still high, it is likely that slower rates of growth will continue until the ZEV Mandate is implemented in 2024, and supply is able to consistently match … [Read more...]
Newslines 7 April
Car manufacturers next year must sell 22% of their EVs or face fines of up to £15,000 per car they miss their target by. Ministers have announced proposed new targets as part of a major green agenda which details tough goals and punitive measures for car makers while a credits based system will allow manufacturers to trade EV tokens between each other if … [Read more...]
