September’s 20.5% decline in new car registrations will have a “brutal impact” on some franchised car dealers’ Q3 and full year profitability, according to Coachworks Consulting.
The Society of Motor Manufacturers and Traders (SMMT) has confirmed that supply shortages caused by manufacturers’ WLTP testing backlogs triggered a 20.5% decline in new car registrations in September.
Buoyant car registrations resulting from the September switch-over to WLTP and RDE fuel economy and emissions tests saw car dealers defy the usual August slump with a £200 average profit, ASE has reported.
The UK’s 23.1% rise in new car registrations during August left it only 19th out of 27 European countries for volume growth during the month as the effect of WLTP was seen across the region.
Arnold Clark grew its used car sales volumes by 10.3% to contribute towards a 7.3% rise in turnover but suffered a 15% decline in profit before tax during its financial year to December 31, 2017.
New and used car markets delivered a sales surge in August as the introduction of WLTP and RDE fuel consumptions an emissions delivered “great value vehicles and finance offers,” enquiryMAX has revealed.
Sales of light commercial vehicles grew by 5% last month, according to the SMMT, but year-to-date the market is still down by 2.2%.
Car dealers reduced their July losses by almost £5,000 year-on-year to “emphasise improvements made over 2017”, ASE’s monthly profitability report has shown.
Car manufacturers rush to sell new cars which are not compliant with the new WLTP and RDE fuel economy and emissions legislation has created a “false economy” in which sales rose 23.1% in August.
New car sales across Europe delivered their highest monthly total for July since 2009 as 1.31 million vehicles hit the roads of the region last month – a 10% increase of year-on-year.
Renault has announced that it will offer an additional new car sales incentive of £500 for customers keen to get behind the wheel of a Twingo, Clio, Mégane, Captur, Kadjar, Koleos, Scénic or Grand Scénic.
Lookers chief executive Andy Bruce has said that the he expects the car retail group to “meet market expectations for the full year” after reporting a 5% rise in turnover to £2.58m during the first half of 2018.
Pendragon has blamed the performance a faltering UK Motor Division for a 41.4% fall in underlying pre-tax profits in financial results for the first half of 2018.
Manufacturer support for new car offers ahead of the September introduction of WLTP and RDE tests generated a 1.2% rise in July registrations.
Jato Dynamics has warned that car manufacturers are running the risk of huge fines for failing to meet EU emissions standards after new WLTP CO2 emissions tests triggered a 10g/km average increase in vehicles’ published output.
Jaguar Land Rover made a £264 million pre-tax loss in Q1 this year compared to a £595m profit last year due to a slow-down in Chinese sales, the car manufacturer's financial results have revealed.
The number of car manufacturers is predicted to halve in the space of a decade as mobility solutions and a decline in vehicle ownership start to take hold of the market, according to KPMG.
Honest John has called upon the government to abolish insurance premium tax from electric vehicles (EVs) after research highlighted how inflated premiums could be harming sales.
Dealer discounts have remained static in the last three months despite a struggling new car market, according to a What Car? Target Price report.
A look at the UK car market to the end of May shows Vauxhall, Nissan and Fiat suffering.
