Manheim Auction Services has raised a further £20,467 for children’s charity Make-A-Wish UK with a special auction of donated vehicles and other items.
Cox Automotive predicts that new car registrations will increase by 6% in 2023 to 1.71 million.
Automotive is entering a period of opportunity with 2023’s “significant change and shortening lead times” paving the way to new horizons, according to Cox Automotive.
Car retailers will need to brush up their knowledge of car manufacturers’ advances in electric vehicle (EV) battery technology advances to avoid a slump in value set to impact so-called ‘black cars’.
UK new car registrations predictions for 2023 have been downgraded by between 7% and 15% as Coz Automotive predicts faltering vehicle supplies may not recover until Q3 next year.
Doing the basics well and driving efficiencies will prepare dealers for the eventual comeback of usual car market volumes, according to Cox Automotive insight and strategy director Philip Nothard.
Cox Automotive customer insight and strategy director Philip Nothard has warned used car retailers to “remain cautious” as the sector heads into an in certain period of winter trading.
Land Rover dominated Dealer Auction’s August ranking of car brands and models offering the largest sales margin to car retailers.
Cox Automotive Europe has told car retailers to focus on “potential storms” ahead as they continue to balance limited vehicle supplies with faltering consumer demand.
Car retailers will need to help focus on electric vehicle (EV) solutions for fleet operators ahead of an expected surge in sales opportunities for zero-emission cars.
Subaru delivered a shock by surging to a second-placed ranking in Dealer Auction’s Retail Margin Monitor.
Car retail businesses have been told to focus on gross profit and cutting expenditure as a period of ‘stagflation’ is ushered in by sustained inflation and rising unemployment.
Cox Automotive predicts that the UK’s new car market will end 2022 on 1.62 million registrations after downgrading its forecasts to acknowledge the “reality” of the sector’s global supply crisis.
There are fears that the new cars being delivered with incomplete specifications due to the semiconductor shortage are storing up a headache for used car dealers and valuation experts.
Auto Trader has urged car retailers not to “jump to rash conclusions about the health of the market” after car price rises eased in May with the prospect of tough times ahead for car buying consumers.
The used car market has been enjoying stellar growth over the past two years as demand has outstripped supply; there has been a lack of new vehicle availability and more buyers are willing to pay a premium.
In a used car market starved of supply vehicle acquisition has become the boom industry, with retailers launching their own car buying platforms to rival third-party providers.
The car retail sector should be braced for a prolonged period of uncertainty as OEMs impacted by Russia’s war in Ukraine battle to deliver vehicle supplies and consumers “grapple with a cost-of-living crisis”.
Data from wholesale and retail used car values data providers has indicated “signs of a market correction” but hopes remain that any market decline will be minor.
New car registrations are expected to decline 10% year-on-year in the first half of 2022 with all hopes pinned on a recovery in H2, Cox Automotive’s latest forecasts reveal.
