Used car buyer confidence is at its lowest level for six months, says Startline Motor Finance. The percentage of motorists who are positive about the idea of buying a used car has fallen from 59% in August to 48% now, shows February’s Startline Used Car Tracker. Those who feel neutral about changing their car have increased from 34% to 43% over the last … [Read more...]
Used car sales and EVs need UK economy boost, says poll
Almost two-thirds of dealers (62%) say an improved economy would provide the biggest boost for used car sales in 2025, new research indicates. January’s Startline Used Car Tracker also shows that 50% would like to see direct government support for used electric vehicle (EV) buyers, 48% an improvement in consumer confidence, and 38% a loosening of the Zero … [Read more...]
Tradelines 14 August
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 … [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 … [Read more...]
Tradelines 22 November
The rate at which used car prices are dropping has taken the market by surprise, admits a motoring industry expert. Phil Nothard, insight director at Cox Automotive – the owners of Manheim Auctions – told the Car Dealer Podcast that significant price falls in the used car market have caused ‘waves across the sector’ and explained that the market had ‘slowed … [Read more...]
Tradelines 15 November
A new fully electric premium MPV, the Volvo EM90 with a range of about 450 miles, will broaden the appeal of the brand and meets even more customer needs. Following the reveal of the already award-winning and fully electric EX30 small SUV earlier this year, the EM90 represents the second expansion with more space and features and will initially be launched … [Read more...]
Tradelines 19 April
The all-electric British designed MG Cyberster sports car will come to UK in 2024, but may be sold outside the usual dealer network. MG has previously said it believes having a showroom network has been behind its success in recent years, but the first sports model in over a decade may be see another sales avenue created. A swathe of car dealer … [Read more...]
Profits possible despite a potential pitfall in 2023
A “difficult” 2023 lies ahead for the used vehicle sector but strong profits will still be possible, more than 150 delegates heard at the Vehicle Remarketing Association’s (VRA) Annual Seminar last week. Philip Nothard, chair at the industry body said that speakers at the event had detailed a picture of both economic and structural challenges. “There is … [Read more...]
Newslines 15 July
New petrol and diesel cars will be banned from sale by 2035, lorries five years later and aircraft and shipping will face stinging new fuel taxes under proposals announced this week by the EU. Imported steel used to make vehicles will also be heavily taxed as the EU seeks to dramatically reduce cross border carbon footprints. Ex Renault-Nissan boss Carlos … [Read more...]
Used prices slipping back again
Used car sales have slipped back, said analyst Cazana's Director of Insight, Rupert Pontin. The car market in June 2021 has so far proven to be extremely exciting, and last week was no exception as both new and used car sales had another week of varied activity levels. - Used Car Sales Down -17.5% Week on Week - Cazana Used Car Retail … [Read more...]
