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 112,144.
eBay returns as headline sponsor of The Live Stage at this year’s British Motor Show, taking place at Farnborough International Exhibition Centre from 15-18 August.
Hosted by Tim Shaw & Fuzz Townshend from TV’s Car SOS, the eBay Stage will be packed with a line-up of celebrity interviews and motorsport guests, including TV stars Vicki Butler Henderson and Iwan Thomas.
A ‘franchised dealer’ remains the most popular way to buy a new car, according to a nationwide poll by their professional body.
The second most common choice, an ‘independent dealer’, accounted for 22%, less than half of those who went to franchised dealers and the survey showed that cost remains the largest barrier to EV adoption with 55% of respondents indicating that EVs still remain ‘too expensive’.
Vauxhall has introduced a new entry-level petrol model to move slowing sales and it means a saving of £2,800 under the previous entry level Astra Design.
The new Astra Griffin petrol is £24,795 and it’s battery only stablemate is now from £34,995 but some comparison sites are offering still lower prices than traditional dealers as the brand struggles.
Three to five year old used cars are the fastest selling off dealers’ forecourts, reports Auto Trader.
After tumbling in value, used EVs are now picking up as their prices level out and demand was reportedly 43% up on the same time last year.
The row over EU tariffs on electric vehicles made in China has taken a fresh twist after the Chinese government filed a complaint with the World Trade Organisation.
Earlier this year, the European Union said it would introduce tariffs of up to 37.6% on EVs made in China, amid claims that manufacturers are ‘unfairly benefiting from government subsidies’ but the Chinese have denied the claims and said the action was harming the move towards a cleaner environment and zero emissions targets.
Nissan has been trialing an innovative automotive paint aimed at helping lower a vehicle’s ambient cabin temperature in summer and reduce the energy usage of the air-conditioning system.
Developed in partnership with Radi-Cool, a specialist in radiative cooling products, the paint incorporates metamaterial, synthetic composite materials with structures that exhibit properties not usually found in nature.
