Britain’s petrol, electric car and van markets have stalled with dealers reporting contracting business in the last quarter. The very slight increase in total registrations for the whole of 2024 came about with fleets being given big discounts by manufacturers very anxious to move the metal and push EV sales or face huge penalties from the UK Government. The UK new car market recorded its second … [Read more...]
Luton shut-down raises more fears
Last week's announcement that the Luton van plant will close in April with the loss of about 1,200 assembly jobs and thousands more in the supply chain has starkly brought home the issues facing the automotive sector and the components supply industry is struggling to survive as well. Ford plans to cut 800 UK jobs among 4,000 going in Europe and Nissan has warned it is seriously looking at future … [Read more...]
Nissan want Government action to save investments
Nissan called for urgent action to avoid carmakers being penalised for slowdown in electric vehicle (EV) sales in the UK resulting from outdated targets in the UK’s Zero Emissions Vehicles Mandate. The Mandate was established to incentivise manufacturers to move from petrol and diesel vehicles to EVs, under the assumption that the sharp rises in consumer demand for EVs seen in recent years would … [Read more...]
New car sales slide again but EVs grow
October saw another month of contraction in the new car market, a concerning trend following August's end to two years of continuous growth. This decline is particularly worrying, as it highlights the volatility of the market right now, said Sue Robinson, Chief Executive of the National Franchised Dealers Association. UK new car buyers now have more than 125 different BEV models to choose from … [Read more...]
Going green as cheaply as possible
Used electric cars are offering a cheap way into a greener future. The Electric Car Scheme is revealing some of the UK’s most affordable EVs as new models, and a growing used market brings the price of electric cars down considerably. Affordability remains the biggest barrier to getting behind the wheel of an EV, with 68% of Brits identifying it as an area of concern, ahead of running costs, … [Read more...]
Diesels surge as private motorists snub EVs
The UK new car market rose 1.0% in the key ‘74’ plate change month of September, to 275,239 units, according to the Society of Motor Manufacturers and Traders with private buyers turning to more diesels than pure electric models.. In what is traditionally a bumper month for new car registrations, second only to March, the performance was the best since 2020, but still -19.8% off pre-Covid … [Read more...]
Car makers facing penalties as EV sales fall
Private buyers are turning their backs on new pure electric cars but hybrids are selling well and there's industry concern that the Labour Government's "green" targets will be missed and manufacturers will pay big penalties. July signals a twenty-fourth month of consecutive growth for the new car market, reaching an impressive milestone of two full years as we move into the second half of the … [Read more...]
Britain & EU losing components business
The European Union’s automotive trade balance is at a critical juncture, with the potential to become a net importer of automotive components for the first time ever in 2024. Despite significant investments in research and development (R&D), the EU’s manufacturing of innovative automotive technologies is increasingly moving abroad. In 2023, the EU automotive supply industry … [Read more...]
Younger drivers turning towards subscription services
New data from Wagonex revealed that younger drivers are most likely to acquire a car on subscription. Drivers aged 26-35 are six times more likely to get a car on subscription than those aged 56-65, and eleven times more likely than those aged 65+. With the latest sector statistics revealing that the UK’s car subscription market is the biggest in Europe in terms of revenue, the experts at … [Read more...]
New car registrations pushed over a million
The UK new car market has hit the million motors mark for the first time in five years, after new car registrations rose in June by a modest 1.1% to reach 179,263 units, according to the Society of Motor Manufacturers and Traders. As a result, so far in 2024, 1,006,763 new cars have been registered, up 6.0% on the previous year but still down -20.7% on 2019. June’s market growth was driven … [Read more...]
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