Car retailers recorded an average decline in profit of 31.7% during June as the average sum earned declined by £13,000 to £28,000 during the month, ASE has reported.
July 2019 brought with it much discussion around the decline in used car performance despite a level of decline which will remain a moot point.
The Society of Motor Manufacturers and Traders (SMMT) has said that electric vehicles’ share of new car registrations could double in 2020 after sales almost tripled amid a 4.1% decline in the wider market during in July.
Transport for London (TfL) has revealed that the £25 million scrappage scheme proposed by London Mayor Sadiq Khan would rid the capital’s streets of just 1-in-55 high polluting cars.
Global instability compounded by fears of a ‘no deal’ Brexit have contributed to a 20.1% decline in vehicle production in the UK during the first half of 2019, the SMMT has said.
PSA Group, the French automaker that owns Vauxhall again warned this week that it could pull production from its Ellesmere Port plant in the UK if the plant becomes unprofitable after Brexit.
Independent used car supermarket owner James McConville has said that the search for larger premises is the biggest challenge he currently faces as he seeks expansion for his Solo Cars business.
The National Franchised Dealers Association (NFDA) has called on new Prime Minister Boris Johnson to end the Brexit uncertainty with a deal to safeguard the UK automotive retail sector's 800,000 jobs.
Used car values have dropped by a record 2.2% decline for July as the large executive and luxury executive cars fell out of favour with car buyers, Cap HPI has reported.
A 6.4% H1 2019 decline in revenues and 11.8% dip in operating profit during the first half of the year have prompted Renault to cut its sales targets for the full year.
Cap HPI has refuted claims that PCP customers are increasingly at risk from financial difficulties as a result of their car finance agreements lapsing into negative equity.
Jaguar Land Rover (JLR) suffered a £395 million loss in the three months to the end of June as sales fell by 12% to 128,615.
Demand for SUVs appeared to stall across Europe during June as the region suffered a 7.9% overall decline in registrations, Jato Dynamics has reported.
Nissan’s Sunderland car manufacturing plant appears to have avoided a new round of job cuts as the Japanese car brand announced that it plans to shed 12,500 employees worldwide.
Inchcape has said that it is targeting “revenue and cost optimisation” in the UK car retail market after its disposal of seven Volkswagen and Audi dealerships this week.
PSA Group has reported record H1 profitability on the same day that Aston Martin suffered a share price slump, Daimler revealed Q2 losses and reports suggest mass job cuts could be on the cards at Nissan.
Petrol powered vehicles dominated Indicata's monthly rankings of the UK's fastest-selling used cars during June.
Cox Automotive has reiterated its prediction of a 2.9% decline in new car sales for 2019 after the publication of half-year data by the Society of Motor Manufacturers and Traders (SMMT).
Used diesels are selling faster than their petrol equivalents, despite campaigns to shift buyers away from the fuel.
Mercedes-Benz has said that 25% of its new car sales transactions will be completed online by 2025 as it develops a “single log-in” digital strategy offering lifestyle, mobility and shopping solutions to owners and non-owners alike.
