Market insight
‘Peak Petrol’: EV adoption and pandemic aftershocks continue to hamper car market
The UK car market is expected to hit its peak in terms of petrol vehicle numbers in 2024 although the industry continues to grapple with the the post-pandemic shortage of nearly 3 million cars not sold during that period, stricter Zero Emission Vehicle (ZEV) targets, rising competition from new brands and models - all at a time of lacklustre appetite for electric vehicles (EV).
Car availability and choice at risk as EV targets reshape market
The transition to electric vehicles (EVs) - driven by strategic shifts among legacy manufacturers and competition from new entrants - could lead to reduced variety in vehicle makes and models, especially if manufacturers scale back their UK presence.
Car buyers favour dealer finance especially with transparent online options
According to a new survey, 69% of consumers now consider financing directly through dealerships as their preferred option, particularly when dealers provide clear, upfront details about financing options and costs on their websites.
Dealer Auction data reveals more profitable market for younger EVs and hybrids
Dealer Auction’s latest EV Performance Review reveals a thriving trade market for alternatively fuelled vehicles (AFVs), which in October were younger, lower mileage, and more profitable than in previous months.
Used car market sees 4.3% growth, driven by record electric vehicle sales
The used car market grew by 4.3% from July to September, marking the seventh consecutive quarter of year-on-year growth, according to the latest data published by the Society of Motor Manufacturers and Traders (SMMT).
MG3 hybrid emerges as fastest-selling used car, finds Motors
The used car market saw a significant shift towards alternative fuel vehicles last month with hybrids and electric vehicles (EVs) combined achieving their highest share of listings yet, according to Motors’ Market View.
UK set to race past ZEV legal targets as EV sales continue to soar
October marks the third consecutive month that electric vehicle (EV) sales have hit the 20% mark and places the car industry well above the 2024 targets set by the UK’s Zero Emission Vehicles (ZEV) mandate, according to New AutoMotive.
Private buyer demand for new cars falls while BEVs surge to 20.7% share
Fewer than four in ten (38.8%) of new car registrations were made by private buyers so far this year despite a widening choice of over 125 battery electric models - up 38% from last year - according to the Society of Motor Manufacturers and Traders’ (SMMT) latest monthly figure
FixMyCar report highlights opportunities in repair as EV demand and cost pressures rise
Despite rising costs and technology change, the UK repair market remains dynamic and resilient, according to a new FixMyCar report which urges garages to leverage EV training and digital tools to not only build loyalty but also expand their revenue base.