IAM RoadSmart, the UK’s leading road safety charity, has launched the eighth edition of its annual Driving Safety Culture report, with its key objective to reveal the biggest issues impacting motorists on the roads. The annual report, which has studied UK motorists’ driving safety attitudes and behaviours since 2015, has highlighted the biggest worries for motorists, with 86 per cent of drivers … [Read more...]
Banks must finance more EV deals
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 simply won’t touch EVs at all. Just … [Read more...]
Car production & sales stagnate on shortages
Car sales in Wales crashed over 26% last month, the worst of any part in the UK. Just 2,363 new models were registered and that's even below the 3,230 recorded in the pandemic hit showrooms of last year and the total for the country was a little over 68,000. It was a very dismal August for the motor trade across the country, the lowest figures recorded since 2013 and the overflow from … [Read more...]
More buyers looking for new cars after lockdowns
Some 2.7 million more drivers are planning to opt for a new car this year than previous years, according to Close Brothers Motor Finance’s upcoming Britain Under the Bonnet Report. For 45% of drivers, a new car is the preferred option – significantly up from 38% last year. The lockdown has fuelled fresh demand for a private vehicle and working from home has enabled lots of consumers … [Read more...]
More families shifting towards used cars
In a year shaped by a pandemic and strict social distancing restrictions, drivers have still been able to get their hands on the car they wanted, said Seán Kemple, Managing Director of Close Brothers Motor Finance. "In fact, a new-found reticence to use public transport has shifted attitudes toward car ownership, a trend likely to grow even further in 2021. "Smaller models remain … [Read more...]
Car dealers are optimistic of recovery
The UK motor industry has been hit hard by Covid-19, but car dealers are optimistic about the future of the sector. New research from the Britain Under the Bonnet report, from Close Brothers Motor Finance, reveals that short term confidence plummeted during April, but medium to long term optimism has begun to improve. At the beginning of 2020, 98% of car dealers were confident about business … [Read more...]
On-line business predicted to soar
The world drastically changed in March 2020, and retail changed too. The nature of customer demand has been turned on its head, and anybody trying to sell products or services in this environment needs to work to keep up. It’s a challenging and unprecedented time for not only dealerships, but for the motor industry as a whole. Buyers are having to stay home and showrooms are closed, so now … [Read more...]
EVs used sales soar nearly a quarter
The flow of used evs coming to market jumped 23.4% last year, show latest figures from the Society of Motor Manufacturers and Traders. This is going to be a challenge for the resale trade but a tremendous opportunity said Seán Kemple, Director of Sales at Close Brothers Motor Finance. The SMMT’s used car registrations show a slight 0.1% decline in sales of used cars for Q4 2019, and a dip of … [Read more...]
Financing your car in 2020
If you’re thinking about changing your car in 2020 but unsure where to begin when it comes to researching finance, the FLA’s impartial website, Financing Your Car, is a good place to start. FYC is designed to find the product that best fits your circumstances, so the first port of call on the site should be ‘Your Finance Options’, which will explore whether you want a new or used car, how often … [Read more...]
Dealers optimistic of road-to-zero strategy working
A new survey of UK car dealers by Close Brothers Motor Finance has found that a third (34%) believe that half of cars will be ultra-low emission by 2030, meaning the Government’s ‘Road to Zero’ strategy will be successful. A quarter (25%) aren’t sure, whilst 41% believe the 2030 deadline won’t be hit.The finding comes amid a raft of positive news in 2019 surrounding alternative fuel vehicles, … [Read more...]