Used car values have risen by an average of £2,125 (16.6%) in each of the last four months, according to data published by Cap HPI.
The majority of electric vehicle (EV) drivers (90%) say they’ll never buy another petrol or diesel car.
Marshall Motor Holdings has upgraded June’s forecast of record profits for 2021 in a trading update predicting an underlying pre-tax profit of “not less than £40 million” for the year.
Cazoo has reported an £8 million gross profit in Q2 after its online used car retail volumes surged by 429% a year on from the first COVID-19 lockdown period.
Car retailers have been urged to embrace every opportunity presented by an MOT and wider aftersales "Tsunami" in the remainder of 2021.
Car buyers boosted the consumer motor finance sector’s volumes by 12% in June – a year on from the 2020’s easing of the UK’s first coronavirus lockdown.
The car retail sector’s well-considered the acceptance of Government’s COVID-19 support have left many businesses on a sound footing to deliver a successful 2021.
Mitsubishi Motors in the UK has launched a new service programme that provides its customers with free breakdown and recovery assistance.
Cox Automotive has warned that ‘more needs to be done’ to encourage consumers to adopt electric vehicles (EVs) ahead of the 2030 ban.
Group 1 Automotive president and chief executive Earl J. Hesterberg has predicted the release of “several years” pent-up demand in the UK car retail sector.
Jato Dynamics has said that it is “unclear” whether Europe’s new car registrations volumes will return to pre-COVID pandemic levels after the sector’s recovery slowed in June.
Strong demand from car buyers and good levels of stock in the first half of the year have prompted Pendragon to upgrade its pre-tax profit guidance for 2021 by 20%.
MPs on the UK Government’s transport committee have suggested that a mandate compelling car makers to sell increasing numbers of electric vehicles (EV) could be the key to driving greater adoption.
The UK’s car manufacturing sector saw its productivity choked by COVID-19 triggered staff absences and the global shortage of semiconductor microchips in June.
Inchcape PLC has reported a 30% rise in turnover and a near 15-fold increase in its pre-tax profits as showed strong signs of recovery from the COVID-19 pandemic in the first half of 2021.
Lookers has said that a positive swing in performance that will see 2020’s H1 loss of £50 million converted into a £50m pre-tax profit in the first half of this year.
Vertu Motors has suggested that its 2021 pre-tax profits could be up to 60% more than forecast just a month ago after continuing its “exceptional” performance in the used car market.
UK-based electric vehicle (EV) subscription provider Onto has attracted a further £126 million in its latest funding round.
Vertu Motors will operate Leicester’s Renault and Dacia franchised car dealerships in Leicester after acquiring the businesses from Renault Retail Group.
Used car buyers who paused their purchase to focus their attention on England’s route through the European football championships may have triggered a 26.8% boost to retail sales last week.
