Tesla has risked further hit to used car residual values and increases to monthly finance payments with further price cuts to certain models in its electric vehicle (EV) line up.
Used examples of Nissan’s Leaf electric vehicle (EV) have defied the recent slump in pre-owned EV values to top Dealer Auction’s Retail Margin Monitor rankings in February.
Car dealerships will “not be viable at a 100% BEV mix” unless significant action is taken to change their business model, a new report has concluded.
Volkswagen Group, Nissan and Dacia were among the new car market’s triple digit percentage growth winners as car manufacturers celebrated a seventh month of UK automotive sector growth in February.
The UK’s new car market experienced a 26.2% year-on-year rise in registrations to register a seventh consecutive month of growth, The Society of Motor Manufacturers and Traders (SMMT) has reported.
Strong demand for used vehicles, compounded by ongoing supply restrictions in the new car market, have driven growth in retail prices across the board last month.
The National Franchised Dealers Association (NFDA) has submitted evidence on the fast-changing automotive sector to the Department for Business and Trade’s (DBT) amid concerns new Block Exemption rules may “leave too much unsaid”.
Previous poor reliability with a vehicle has put nearly a third of in-market buyers off from purchasing from the same brand again, research has found.
Car retailers across the UK have spoken of a desire to generate the excitement of a “dream” March number plate change month as new 23-plate cars were handed to customers this morning.
Genesis has begun conversations with potential car retail partners across the UK ahead of a growth push to establish a physical footprint of up to 20 dealerships.
The UK Government has asserted that its new Windsor Framework to refine post-Brexit arrangements for Northern Ireland will “protect” the country’s second-hand car market.
UK-based electric vehicle (EV) battery producer Britishvolt has been acquired by Australian start-up Recharge Industries.
Europe’s established car manufacturers should be braced for an electric vehicle (EV) “price war” ahead of an influx of new brands in 2023 and beyond, according to Grant Thornton.
Society of Motor Manufacturers and Traders (SMMT) chief executive Mike Hawes has admitted that the UK car manufacturing sector needs a new "pitch” to remain competitive with global rivals.
Discounts of up to 16% are being offered on new cars at UK retailers, ahead of the March plate-change.
Jato Dynamics has suggested that Europe’s new car registrations volumes may never recover to pre-pandemic highs following 11% year-on-year growth in January.
Stellantis chief executive Carlos Tavares is targeting a “transformative journey” towards electrification in the US after revealing record 2022 financial results for the car manufacturing giant.
More than a third (34%) of dealers are stocking more economical cars to meet the needs of buyers during the cost of living crisis.
The recent decline in used electric vehicle (EV) values has kickstarted demand among buyers and led to an increase in sales.
Car retail sector PLCs Vertu Motors, Pendragon, Lookers and Motorpoint are expected to see “valuations improve” as stability returns to the UK economy.
