By leveraging online sales, UK auto retailers could reduce the transaction time taken to sell a vehicle by 75% and cut the costs incurred in the process by 45%, according to new research released by industry-leading automotive ecommerce solution provider GForces.The data indicates that, as per 2020, based on an annual used car market of 6.75 million sales, the industry could save £9.5 … [Read more...]
Covid-19 polarises buyers around the nation
Covid-19 has polarised the world, and the nation – including car buyers. According to research from episode one of the annual Britain Under the Bonnet report, from Close Brothers Motor Finance, some 38% of drivers are more likely to delay buying a car due to the economic uncertainty caused by Covid-19 and Brexit, while 12% have brought forward their plans. The fifth edition of the report, which … [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...]
Budget needs to tackle help for car sector and buyers
Changes to VAT around compensation payments, strategic support for the UK motor industry, and the future of road charging are key subjects that should be tackled by the Chancellor in March’s Budget, says the Vehicle Remarketing Association. All three issues are likely to impact on the remarketing sector either in the short, medium or longer-term, believes the industry organisation, and its … [Read more...]
Lockdown deals shaking out car sales
Drivers clambered to offload their small cars for cash during 2020 as the pandemic caused lockdowns across the UK. Sell My Car Direct, previously saw more than a quarter of the cars offered to the car buying service being made up of city cars and superminis (27%). Add hatchbacks and the percentage rises to 40% (2,400 of 5,964), as drivers flocked to sell off their superfluous second vehicles, … [Read more...]
Brexit deal “unanswered questions” is concerning, says trade
The new, “thin” Brexit deal that is now in effect leaves many unanswered questions that could have serious implications for the UK motor industry, warns the Vehicle Remarketing Association. The trade organisation says that several key points surrounding the future of manufacturing and cross-border movement of vehicles remain vague or undefined. Sam Watkins (right), chair at the VRA, said, “Let’s … [Read more...]
Used electric cars now growing sales
Second-hand battery and electric cars are being sought by drivers, says the Society of Motor Manufacturers and Traders in their latest report on the used car market. The UK’s used car market increased by 4.4% in Q3 after two consecutive quarters of decline, according to the latest figures published today by the SMMT. During the busiest quarter since the end of 2016, some 2,168,599 transactions … [Read more...]
Buyers back in the driving seats
Car buyers are flocking back to showrooms and forecourts, said the National Franchised Dealers Association. Through the findings, NFDA aims to assess the implications of the COVID-19 lockdown on the automotive retail sector and understand how the industry is now recovering. Their survey asked dealers questions about their return to work including the percentage of dealerships that reopened, … [Read more...]
Tips for buying a used car this September
We’ve seen a lot of changes over the past few months and one that stands out is the increase in motorists opting for a used car rather than fork out on an expensive newer model. With the Government continuing to discourage commuters using public transport as a result of the Coronavirus, car repair and service comparison site www.Autoadvisor.co.uk looked at how more people are purchasing – and … [Read more...]
Classics become contemporary as sales boom
Owning, restoring and driving a classic car is a common dream, but it requires significant investment at every stage – in both time and money. Such desirable, high-value vehicles are inevitably also a common target for professional thieves meeting demand for vintage cars and their parts in the UK and across Europe. Stolen vehicle recovery (SVR) expert, Tracker, is sharing tips to help first-time … [Read more...]
