According to the latest market analysis by Auto Trader based on the current trajectory, the used car market is expected to perform well in the latter half of the year with sales predicted to rise 5% year-on-year (YoY) to circa 7.6m transactions. However, due to unprecedented shifts in supply dynamics, retailers will need to adapt to a rapidly changing parc and forecourt over the next few … [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...]
Plate change boosted by fleet registrations
The 24-plate change boosted new-car registrations in March, according to SMMT figures. But private buyers have put the brakes on pure electric purchases and the car makers want Government incentives to be increased to meet emissions targets.. March signals a twentieth month of consecutive growth for the automotive sector, a remarkable milestone for the industry, said Sue Robinson, Chief … [Read more...]
Car makers Budget plan to overcome stalling EV sales
The automotive industry is calling for the Chancellor to use this week's Budget to put the UK’s shift to electric vehicles back in the fast lane. Research commissioned by the Society of Motor Manufacturers and Traders from Savanta has revealed that rising numbers of would-be EV drivers are now likely to delay their switch to a battery electric car – but a three-point plan of tax reform would … [Read more...]
Charging into the great getaway this week
With the annual Chrismas getaway approaching, many drivers and families may be doing their first long run in a new electric car. Just as with a traditional petrol or diesel car you have to prepare your vehicle and yourself for the journey. The electric era is well and truly with us and we are likely to be getting close to a million evs on UK roads by the end of this year and users are doubtless … [Read more...]
Delayed EV deadline boosts petrol and diesel sales, says Startline survey
Almost one in six motorists (14%) say that the government’s move to push back the end of petrol and diesel car sales to 2035 means it is less likely their next vehicle will be electric. However, 82% of motorists in Startline’s November Used Car Tracker also say that the decision will have no effect on their choice, although 6% admit to feeling “less sure” about electric cars in general. Paul … [Read more...]
Showroom prices slide in pre-September sales
There are new car bargains to be had as dealers report manufacturers are dropping prices and supporting lower rate finance deals to lift sales. The traditional slow August sales before the new registration plate arrives on 1 September has been followed by an unseasonally slack demand for new models arriving from today. Rising new car prices and higher interest rates have combined to stall demand … [Read more...]
EV owners have back-up petrol or diesel models
Research from charge point mapping service Zap-Map has shown that around a third of EV owners also own a petrol or diesel vehicle. But its survey of over 4,300 EV drivers showed that, for more than 1,300 ‘dual fuel drivers’ who also have a petrol or diesel vehicle, electric is chosen for the vast majority of journeys. The type of journey electric is most likely to be favoured for is a local … [Read more...]
Softening of demand for cars is concerning
The cost of cars is by far the top priority for car-buyers as the cost of living crisis bites, according to new findings from Close Brothers Motor Finance’s Dealer Satisfaction Survey. Almost three quarters of dealers (74%) put the cost of the car at the top of the list of customer priorities when looking to buy, followed by the mileage (26%). Other priorities included extras like the sound … [Read more...]
EVs depreciate less than petrol or diesel cars
A leasing company has analysed a popular online car marketplace and compared the prices of the UK’s most popular used cars against the number of miles the car had done to uncover the average depreciation cost per mile our cars drive. The average price an petrol or diesel car depreciates is 67ppm or by £4,669.90 a year compared with an evs cost of 55ppm and £3,833.50 annually, meaning evs save 18% … [Read more...]