Data released by V12 Vehicle Finance shows the fastest-selling models to assist dealers with the acquisitions they make using stock funding. Over the last six months, the following manufacturers have stood out for stock being sold within the first 30 days of funding. Top 10 manufacturers on stocking plan less than 30 days Jaguar – 45% of volume sold within 30 days of being on a stocking … [Read more...]
Fleets will drive European sales this decade
Europe’s vehicle components industry says fleet purchases will dominate future sales. Boston Consulting Group and parts makers CLEPA looked at the anticipated after market business by the end of the decade. Results show that fleet vehicles are capturing a significant and rising share of the European aftermarket. Five countries alone (Germany, France, United Kingdom, Netherlands, and Poland) will … [Read more...]
Government likely to miss its zero carbon goal
The Government threatens to miss its own zero carbon targets for transport, say car makers. It set out obejectives it wants to attain in a new consultation document last week but critics say it is late, lacks choice, does not address costs and is confusing for vehicle makers. Mike Hawes, SMMT Chief Executive said, “Automotive is on track to deliver zero emission motoring, so we welcome this … [Read more...]
Auctions still doing well in recession
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...]
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