The new car finance sector saw new business by value drop by 6% year on year to £1.545m, with the number of cars financed down 12% at 55,097 in June, according to the Finance and Leasing Association. The used car finance sector didn’t fare any better, with new business value down by 13% on June 2023 at £1.67m and the number of cars financed down 10% at 112,144. eBay returns as headline sponsor … [Read more...]
Used car sales booming as new regs slow
The UK’s used car market rose by 6.5% in the first quarter of 2024 with 1,967,923 units finding new owners – the strongest start to a year since pre-pandemic 2019, according to the Society of Motor Manufacturers and Traders. Earlier this week, the car makers' body in Britain reported a dramatic slowdown in new car sales, particularly among retail buyers. The increase marks 16 months of … [Read more...]
Families turn backs on electric cars
The UK new car market grew 21.0% in September with 272,610 registrations in the month, according to the Society of Motor Manufacturers and Traders. The 14th consecutive month of growth was also the second busiest of the year after March, with the new number plate delivering its traditional market surge despite a challenging economic backdrop. Growth continued to be driven by large fleets, which … [Read more...]
Wales car sales soar by nearly a quarter in July
New car registrations in Wales shot up 23.8% despite the atrocious July weather, according to the Society of Motor Manufacturers and Traders. It was the same rise as in Northern Ireland but slightly trailed the growth in England of 29.5% and was ahead of Scotland’s 21.6%. New car sales in Wales reached 4,955 registrations last month and the UK totalled 143,561. So far this year, Welsh dealers … [Read more...]
UK new car sales rise most in Wales
New car registrations in Wales went up 20% in May, the most in any part of Britain. SMMT figures indicated a 19.8% increase in Northern Ireland, 17.4% in England and 10.6% in Scotland as fleets moved to build up stocks, possibly driven by makers' incentives to register models and encouragement from major lenders to dealers. In Wales the top ten were: Ford Puma, Vauxhall Mokka, MGHS, Ford Fiesta, … [Read more...]
Car makers push fleet & business sales
The UK new car market recorded its ninth successive month of growth in April, with an 11.6% increase to reach 132,990 registrations, according to the latest figures from the Society of Motor Manufacturers and Traders. The performance marks the best April since 2021’s 141,583 units but remains -17.4% down on 2019 volumes. Large fleet registrations grew by a third (33.1%) to 68,537 units as the … [Read more...]
New car sales shrug off winter chill
Improving supply components and completed cars has seen another rise in registrations in February, according to the Society of Motor Manufacturers and Traders. Sales in Wales rose the most in Britain with a 29.6% increase to 2,370 new cars. SMMT datum show 74,441 cars were registered last month – a 26.2 per cent rise on February 2022’s lower numbers but it was was down by just 6.5 per cent on … [Read more...]
After the hard winter, more chilling news to come
A massive hike in fuel duties is on the cards next spring after a particularly tough winter of rising costs, said the RAC. RAC head of roads policy Nicholas Lyes said, “As things stand, drivers will face an enormous hike in the cost of fuel next Spring due to fuel duty going up. “The Office of Budget Responsibility expects to see 12p added to a litre of fuel, as a result of the current 5p duty … [Read more...]
New car sales crumble, used-models in demand
New car sales are still crumbling under the weight of supply shortages, rising costs and concerned buyers facing higher costs of living. UK new car registrations fell by -15.8% to 119,167 units in April, according to the Society of Motor Manufacturers and Traders. Despite showrooms being open for the entire month, unlike the previous year which saw lockdown restrictions in place until 12 … [Read more...]
Welsh buyers shunned new cars last year
Wales was the only part of the UK to record a fall in total car registrations last year, says the Society of Motor Manufacturers and Traders. The car sales body reported 56,935 registrations in Wales in 2021, a drop of 4.46% from 2020 when they reached 59,594 but every other part of the country saw sales rise. Throughout the UK, total figures were 1,647,181 new cars registered in 2021 and that … [Read more...]
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