Tesla’s European sales growth and the launch of zero-emissions SUVs drove a 16% reduction in CO2 emissions among new cars sold across Europe in 2021, Jato Dynamics has revealed.
The car retail sector is facing a “perfect storm” of economic and political headwinds as UK inflation hits 7% - threatening to dent consumer confidence.
The Financial Conduct Authority (FCA) will “pull no punches” when its sets new guidelines for the car retail sector’s Appointed Representative (AR) model for financial services.
Wholesale used car values declined by 5.9% in March as external economic pressures, the cost-of-living squeeze and the ramifications of the conflict in Ukraine ensured a “tougher” market for retailers.
The UK’s cost of living crisis and the impact of Russia’s war in Ukraine threaten the used car market’s shift towards stability, eBay Motors’ Dermot Kelleher has suggested.
The Finance and Leasing Association (FLA) has revised down its 2022 car finance market growth projections as the squeeze on household incomes and vehicle supply restrictions bite.
Demand for vehicle leasing is growing rapidly among Carwow customers, with new data showing lease enquires have risen 44% year-on-year.
Government has opened consultation over a proposed electric vehicle (EV) mandate that would demand that at least half of all new car sales emitted zero exhaust emissions by 2028.
Auto Trader director of data and insights Richard Walker has stated that suggestions of tumbling used car prices “unfounded” – but conceded that demand is softening.
Auto Trader brand director Marc Palmer asserted that “areas of affluence” are the UK’s hotspots for interest in electric vehicles (EV) as the cost-of-living crisis continues to squeeze car buyers’ purse strings.
More than half of car owners without a service plan are considering delaying or missing their vehicle’s annual service this year, as living costs rise rapidly.
Swansway Group has followed a COVID crisis-defying set of record annual financial results in 2021 with a further 147% surge in pre-tax profits during 2021.
Sales of new light commercial vehicles in March were down 27.6% year-on-year as supplies of large and medium panel vans continue to be constrained.
The UK automotive sector has suffered its worst March new car registrations result since 1998, with Society of Motor Manufacturers and Traders (SMMT) chief executive Mike Hawes stating that it “lays bare the challenges ahead”.
Few industry executives expect all UK car sales networks will be operating under agency contracts by the end of the decade, however the switch to agency is predicted for a sizeable portion.
Owners of hybrid cars account for almost half of all searches for electric vehicles (EVs), according to automotive ecommerce business drivvn.
Ahead of this week’s publication of Q1 new car registrations figures by the Society of Motor Manufacturers and Traders (SMMT), AM takes a look at February's trends and how Russia “threw a hammer and sickle into the works” of a 2022 recovery.
Growing concerns about the automotive supply chain, a potential energy crisis and consumer confidence crash are feeding fears about the impact of the Ukraine-Russia war on UK car retail.
The COVID-19 pandemic, the rise of the agency model retail model and new vehicle supply shortages have convinced many car retail bosses that it is the “right time to exit” the business – triggering a three-fold rise in dealership sales.
Jaguar Land Rover (JLR) has committed to reducing greenhouse gas emissions across its operations by 46% by 2030.
