The growth in the number of drivers considering buying a BEV (Battery Electric Vehicle) as their next car has slowed, according to a new study.
Motorists’ continued appetite for car buying has delivered another 5.1% increase in the value of the average used vehicle advertised for sale on Auto Trader.
Almost a third of British drivers (32%) are planning to hold on to their current vehicle for longer than planned due to the cost-of-living crisis.
Dealers have started to stock-up on Ford Fiesta models, following the announcement that the model will cease production next year.
Used versions of Tesla’s Model 3 electric vehicle (EV) have lost around £5,000 in value in two months as the supply and demand balance of zero-emissions cars puts pre-owned prices to the test.
The number of used car retailers who describe themselves as “pessimistic” about the sector’s current fortunes has almost quadrupled in the space of just a month.
Owners of cars that are at least 10 years old are less likely to swap them for newer models during the cost-of-living crisis, according to a Motorpoint survey.
September recorded the UK’s lowest new car finance volumes since 2010 as supply issues continued to disrupt the automotive sector, the Finance & Leasing Association (FLA) has reported.
Society of Motor Manufacturers and Traders (SMMT) chief executive Mike Hawes has urged Government to stimulate new electric vehicle (EV) sales after the volume of sales transactions dipped 12.2% in Q3.
In his latest in-depth analysis of the UK's car registrations landscape for AM Magazine, David Francis finds the global supply woes and cost-of-living crisis might be favouring affordable car brands.
The car retail sector’s vehicle supply issues look set to be compounded by a cost-of-motoring crisis and growing moves to discourage car usage across the UK.
Society of Motor Manufacturers and Traders (SMMT) data has shown that light commercial vehicles registrations fell to their lowest level in a decade during October.
Almost 40% of Gen Z car buyers would prefer to transact online, according to new research.
The ongoing cost of living crisis continues to dampen consumer appetite for new cars as data from iTrackLeads shows dealer enquiries fell by 18% year-on-year in October.
Another near doubling of new car registrations from Ford was led by the doomed Fiesta hatchback during October, Society of Motor Manufacturers and Traders (SMMT) data shows.
The UK automotive sector remains on course to deliver its lowest new car registrations total since 1982, despite a 26.4% growth in October, the Society of Motor Manufacturers and Traders (SMMT) has said.
The average retail price of used cars advertised for sale via Auto Trader rose for a fourth consecutive month during October – rising £178 on September and a £548 on August to reach £17,587.
The National Franchised Dealers Association (NFDA) has warned that the Bank of England’s decision to raise the UK interest rate to 3% will make funding car purchases “harder for consumers”.
Pawnbrokers are the only lending provider deemed worse than motor finance at assessing customer vulnerability as UK households feel the impact of its cost-of-living crisis, an FCA report suggests.
Finance debt for new and used cars has risen to £40 billion per year, prompting concerns that consumers may default on agreements amid soaring living costs.
