More than half of UK drivers (51%) are intending to buy a new or used car in the next six months, now that showrooms have re-opened and travel curbs are lifting said comparethemarket.com. Drivers are set to spend an average of £15,042 on these cars, with 39% planning to buy either an electric or hybrid vehicle. The main reasons that drivers cite for … [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 … [Read more...]
On-line shortcut to boosting business
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 … [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 … [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 … [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 … [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 … [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 … [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 … [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 … [Read more...]
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