new car market
‘Peak Petrol’: EV adoption and pandemic aftershocks continue to hamper car market
The UK car market is expected to hit its peak in terms of petrol vehicle numbers in 2024 although the industry continues to grapple with the the post-pandemic shortage of nearly 3 million cars not sold during that period, stricter Zero Emission Vehicle (ZEV) targets, rising competition from new brands and models - all at a time of lacklustre appetite for electric vehicles (EV).
Car availability and choice at risk as EV targets reshape market
The transition to electric vehicles (EVs) - driven by strategic shifts among legacy manufacturers and competition from new entrants - could lead to reduced variety in vehicle makes and models, especially if manufacturers scale back their UK presence.
Year-end could rival pandemic woes for new car market, warns Cox Automotive
The new car market will face huge challenges by year-end, according to Cox Automotive which is warning that pressures could be even worse that those caused by the 2008 financial crisis and the 2020 pandemic.
EV discounting risks impacting long term investment as private retail continues to lag
Discounting risks undermining the ability of companies to invest in next generation technologies and cannot be sustained indefinitely, according to the Society of Motor Manufacturers and Traders (SMMT).