New car prices have increased by up to 49% since Britain voted to leave the EU, according to data published by Parkers.
Honda has confirmed its plan to close its Swindon car manufacturing plant as it attempts to accelerate its electrification strategy “in light of the unprecedented changes” affecting the automotive sector.
Britain is scheduled to leave the European Union on March 29. How has Brexit affected your business so far and what do you think will happen on March 30?
A lack of “good quality and desirable stock” has not been enough to stall rising used car prices as demand from consumers defies the uncertainty caused by Brexit, according to Cazana.
New car registrations declined by 1.6% despite a 2.9% increase in the number of private buyers starting 2019 with the purchase of a new vehicle.
European car manufacturers are concerned that a new EU-Japanese trade deal could see them lose ground in the UK to Asian rivals, according to UHY Hacker Young.
The threat of a ‘no deal’ Brexit halved the influx of fresh investment into the UK’s car manufacturing sector, according to the Society of Motor Manufacturers and Traders (SMMT).
Used car values declined by 0.7% in January as dealers saw lower retail demand for vehicles priced over £12,000, Cap HPI has reported.
UK car dealers remain ‘resolutely optimistic’ despite Brexit, diesel vehicles’ negative press and increased competition for used car stock in 2019, according to Close Brothers Motor Finance.
UK used car dealer stock is increasingly being searched by buyers in European countries, according to the latest data from Motors.co.uk.
The SMMT is urging MPs to vote in favour of the Prime Minister’s Brexit deal in order to ‘take no deal off the table’.
The strong euro drove Irish motorists to increase spending on importing used cars from the UK by 59% in 2018.
Honda has joined BMW/Mini and Toyota in making plans for a temporary post-Brexit shut-down period at their UK manufacturing plant.
Three quarters (74%) of business leaders expect the general economic condition of the country will decline over the next 12 months, according to Ipsos Mori research.
The SMMT has attributed UK car manufacturing’s “serious” decline in productivity of 19.6% during November to falling business and consumer confidence caused by Brexit.
November’s new car registration figures may be an indicator that the market is started to “rebalance itself” but market forces continue to favour used car retail, according to Cazana.
New car registrations declined 3% in November as the effects of the WLTP emissions test regime and falling consumer confidence conspired to affect supply, according to the SMMT.
Car production levels at manufacturers' UK plants declined by 9.8% during October to leave the overall year-to-date decline at 6.9%, the Society of Motor Manufacturers and Traders (SMMT) has reported.
Startline Motor Finance has warned that an uplift in used vehicle prices prompted by WLTP-sparked new car shortages “will not resolve quickly”.
Aston Martin has reported an 899% year-on-year increase in profits during Q3 as it doubled production output in its first set of financial results since its IPO last month.
