BMW doubled its September electric vehicle (EV) sales as zero emissions vehicles secured a market share of 17% in last month’s new car registrations.
Used car supermarkets and franchised retailers responded to September’s sector stability to increase the value of their advertised vehicle stock by 1.5% and 1%, respectively.
Car retailers have been the target of a “veiled threat” from an overstretched HMRC after the Government body identified the sector as a VAT risk area, MHA has revealed.
Registrations of Chinese-built electric vehicles (EV) soared 78% across Europe during August as overall vehicle registrations rose for the first time in 2022.
An “extremely tough and uncertain economic environment” for car manufacturers has overshadowed a 34% recovery in productivity during August, the SMMT has said.
Two thirds of UK motorists are against the proposed ban on selling petrol and diesel cars after 2030, a study by iCompario has revealed.
Car retailers’ used car forecourts are unlikely to benefit from “significant volumes” of additional stock as a result of the sector’s seasonal September sales boost.
Land Rover dominated Dealer Auction’s August ranking of car brands and models offering the largest sales margin to car retailers.
The Bank of England has raised the UK interest rate by 0.5ppts to 2.25% in spite of Monetary Policy Committee (MPC) uncertainty over the best approach to stem inflation.
Toyota has re-stated its intention to build 9.7 million vehicles in its current fiscal year, despite being forced to cut production by 150,000 units in October and November.
Cox Automotive Europe has told car retailers to focus on “potential storms” ahead as they continue to balance limited vehicle supplies with faltering consumer demand.
The UK ‘s car retailers are Europe’s ‘most trusted’ according to a survey which concluded the situation could leave car buyers “more vulnerable to scams”.
Car retailers have been told “there can be no compromise” when it comes to the technology leveraged to ensure compliance with the Financial Conduct Authority’s (FCA) new Consumer Duty.
The UK remains the only European country to experience a decline in used car values during 2022, according to Indicata.
Premium cars defied the UK’s deepening cost-of-living crisis to dominate the Aston Barclay desirability index in early September.
The automotive sector is braced for the impact of a record 0.75ppt rise in interest rates if the Bank of England acts to curb inflation next week.
The cost-of-living crisis is pushing new and used car buyers to opt for finance rather than cash purchases, research by What Car? has found.
Uncertainty surrounding the balance of supply and demand in the automotive sector has created the most difficult period ever to forecast used car value trends, according to Cap HPI.
The used car sector delivered double-digit growth in the value of new business generated in July as supply issued continued to subdue new car registrations.
Car retailer’s priorities have shifted away from new and used car sales to improved compliance and aftersales focus.
