Despite the challenges currently facing the automobile industry, the auction market is in a positive state. Supply and demand have been stable for the last month, with summer soon to draw to an end. "We are expecting that September will see a steady surge as customers return from holidays, boosting the market”, commented Paul Hill, National Association of Motor Auctions spokesman, after a … [Read more...]
Mixed signals in bus and cv sales, say manufacturers
SMMT released its second quarter registration figures for the HGV, Bus and Coach sectors, and mixed signals could be found. The UK new bus and coach market grew slightly by 0.6% to 1,066 units, with the good news that single-deck buses were up 65.3%, while double deckers – which represent a greater share of the market – fell by -24.9%. While ridership levels have gradually been improving since … [Read more...]
JLR loses £9M through semi-conductor shortages
Jaguar Land Rover lost £9m in the last three months of 2021 amid the computer chip shortage. Global sales fall 37.6% compared to a year earlier with just 80,126 vehicles delivered in the quarter to the end of December but despite that fall in production the company saw revenue of £4.7bn, up 22% on the previous quarter. UK car production last year fell to its lowest level since … [Read more...]
Motor industry lies at heart of world trade
The Society of Motor Manufacturers and Traders has called on government to put the automotive sector at the heart of future trade negotiations, after a new report confirms vehicles are the UK’s single most valuable goods trade export. Vehicle export revenues reached £27 billion in 2020, making them more valuable to the UK than power-generating machinery and gold, even during a year when … [Read more...]
EVs overtake diesels in Europe
According to data for 26 European markets, new car registrations slowed once again in August, with a decline of 18% to 713,714 units. This marks the lowest recorded volume in August since 2014. Last month’s decline did not however offset the growth registered during the second quarter of the year. Year-to-date volume remains higher than last year, with 8,095,419 registered units compared with … [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...]
Used car sales dented by disease controls
The UK’s used car market declined -8.9% in the first quarter of 2021 according to the Society of Motor Manufacturers and Traders. With 1,687,755 transactions, the overall decline saw large falls in January and February of -27.1% and -19.4%, as lockdowns depressed demand and again closed showrooms. March saw the market show signs of recovery with a 32.2% year-on-year rise, amounting to … [Read more...]
Advertising brakes but car sales accelerate
Sales enquiries for both new and used cars have seen an increase during the last week as retail buyers appear to have gained a little more confidence and seem more willing to start to spend the money they have inadvertently saved during the current third lockdown period. However, new car sales for the month are still looking to be at around 60% of normal levels with a considerable constraint on … [Read more...]
Warranties surge as sales stagger
Warrantywise is one of Britain's largest car warranty companies and had a record year in sales growth. They are celebrating an outstanding 55% growth in sales year on year. Lawrence Whittaker, CEO of Warrantywise, attributes this to a number of reasons, "We've had a fantastic year for sales, and worked really hard on setting goals to achieve this. “We hired a new Chief … [Read more...]
UK car making lowest in generation
UK car making slumped last year to the lowest since 1984, hit by Covid-19 interruptions and a collapse in demand for most of the year. The car makers' body, the Society of Motor Manufacturers and Traders chief Mike Hawes said it was a "dreadful year" but added that a comprehensive vaccination programme might restore buying and production. Output was 920,928 vehicles, a 29.3% fall on … [Read more...]
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