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.
Stock starved car retailers are avoiding used electric vehicles (EV) as zero-emission vehicles continue to decline four times faster than their diesel-powered equivalents.
A Net Zero Review delivered on behalf of the Department for Business, Energy & Industrial Strategy (BEIS) has recommended the swift delivery of an electric vehicle (EV) mandate and VAT cuts to make public charging more affordable.
The motor finance sector is expected to record a 6% rise in value despite supply shortages which “continued to weigh on its recovery” during Q4, the Finance and Leasing Association (FLA) has said.
The average electric car remains cheaper to run than an equivalent petrol car unless fuel prices fall below £1 per litre, according to research by MyEnergi.
Improved dealership experiences, more electric vehicle (EV) range and reduced prices and waiting times on new cars are features car buyers would like to see in 2023.
The average price of a used vehicle advertised for sale on Auto Trader rose for the 33rd consecutive month in December – reaching £18,030.
Half of drivers now want to own a car as they are unable to rely on public transport, according to Auto Trader research.
Used LCV prices increased in November, as demand grew steadily for vehicles to service the online shopping and home delivery sector in the run-up to Christmas.
Volkswagen retained its position as the UK’s best-selling new car brand after bumper December registrations accelerated its performance ahead of US rival Ford.
The UK automotive sector remains “adrift of its pre-pandemic performance” after an acceleration in December new car registrations failed to arrest a full-year decline – ending 2022 down 2% at 1.61 million units.
Demand from car buyers is said to be on a “downward trend” after retailers experienced declining sales leads in December.
As some carmakers see opportunity in manufacturer refurbishment programmes, a consumer survey has found one in two carbuyers would choose a factory-reconditioned used car over current approved used vehicles.
Used car dealers will need to offer a high level of reassurance to ‘vulnerable’ buyers as used cars become older and more expensive in 2023.
Auto Trader expects used car values to rise in early 2023 after remaining flat in the traditionally weak festive trading period.
Livingstone Motor Group’s growth ambitions, the AM Awards 2023 launch and all the content from AM Live 2022 are all packed into the latest edition of AM magazine – out now.
Nearly half of all new and used car buyers expect to make a purchase at some point in 2023, despite the impact of the cost-of-living crisis.
Used car dealers are concerned that they will not be able to secure stocking finance for the new wave of electric vehicles (EVs) from China, when they reach the used market.
Consumer car finance registered growth for only the fourth time in 2022 as the sector delivered a 4% uplift by volumes and 9% by value.
Car buying journeys are likely to become longer more complex in 2023, as the cost of living crisis affects consumer behaviour.
