Octopus Electric Vehicles has launched a second hand workplace leasing scheme for electric cars. Octopus’ ‘Nearly New’ salary sacrifice offer makes EVs even more accessible to the mass market by considerably reducing costs. Drivers are able to access popular EV models like the Renault Zoe, Peugeot e-208 and Vauxhall Mokka-e for roughly £300 a month, including fuel, insurance and maintenance … [Read more...]
Bank Rate rise is challenge to traders
The decision by the Bank of England to raise their interest rates by 0.25%, to 4.5%, will inevitably have implications on the motor trade, according the car dealers' body. The Bank of England has confirmed that interest rates will rise by 0.25%, from 4.25% to 4.5%, the twelfth consecutive rise since December 2021. Sue Robinson, Chief Executive of the National Franchised Dealers Association … [Read more...]
Leasing companies accused of overcharging ev customers
Leasing deals for battery electric vehicles are being overpriced, new analysis by T&E of the used car market finds. In the UK, leasing offers for BEVs are on average 51% more expensive than their equivalent petrol model. Leasing an electric VW ID.3 costs approximately £605 a month, whilst the petrol Golf is offered at £376. In the UK, battery electric cars have the same resale value as … [Read more...]
Wales offers used car bargains
Three of the top 20 places in Britain to buy a used car are in Wales, shows a new survey. The best value place in Britain to buy a second-hand car is the Hertfordshire town of Letchworth — because the used cars on sale there offer the optimum combination of age, price and low mileage, according to AA Cars. Across the UK, the average price of used cars is falling. Official data from the ONS shows … [Read more...]
Car production & sales stagnate on shortages
Car sales in Wales crashed over 26% last month, the worst of any part in the UK. Just 2,363 new models were registered and that's even below the 3,230 recorded in the pandemic hit showrooms of last year and the total for the country was a little over 68,000. It was a very dismal August for the motor trade across the country, the lowest figures recorded since 2013 and the overflow from … [Read more...]
Used-cars keys to future prospects
The relative strength of used car sales at the end of 2020 is a good omen for the prospects of a further bounceback once the current national lockdown is lifted, according to James Fairclough, boss of AA Cars. “The gradual ratcheting up of lockdowns and Covid restrictions during the final months of 2020 took their toll on the economy as a whole, and the used car market was no … [Read more...]
Newslines 20 October
This year’s RAC London to Brighton Veteran Car Run is cancelled on 1 November due to Covid-19 restrictions after being staged without interruption since 1947. The event has been planned for 7 November 2021. Car dealers in Wales will have to close showrooms from Friday evening under the Welsh lockdown law. They will be allowed to run virtual showrooms and meet clients on line but actual buyer … [Read more...]
Auction action accelerates
Auction houses are experiencing strong vehicle values and a strong demand for stock, according to the National Association of Motor Auctions. While the majority of auction houses are not yet opening their auction halls to buyers, they continue to be very busy with on-line sales. Used vehicles are in keen demand from consumers post-lockdown as many look for an alternative to public transport … [Read more...]
Sunday drive: SEAT Alhambra Xcellence 2.0 TDI 177hp
One of the intriguing recent surveys done by Auto Trader, the ‘bible’ for used and new UK car sales trends and figures, showed that the two fastest selling used cars were both MPVs, writes David Miles. The top selling model was the SEAT Alhambra followed by the Volkswagen Sharan, both interestingly diesel automatic versions. In fact in Auto Trader’s top ten fastest selling used car sales chart, … [Read more...]
Driving choices are changing
More than 15 million Brits are planning to take measures to be more environmentally conscious in the year ahead with a shift in driving habits expected as the most popular move, according to an analysis by AA Cars. Around half of Brits are expected to take steps to be more eco-friendly in 2019, with many making changes to how they own and run cars; one in five (17%) plan to use their car more … [Read more...]