Almost a third of new car buyers are putting-off their next purchase as they await a Government announcement about a potential car scrappage scheme.
The Financial and Leasing Association (FLA) has revealed that the COVID-19 lockdown caused consumer car finance market to slumped by 94% by volume and value during April.
Michael Woodward, Deloitte's automotive industry leader, gives his take on the new car market as the UK government eases coronavirus lockdown restrictions.
During May's coronavirus lockdown 12,900 new cars were sold to private buyers, according to data from the Society of Motor Manufacturers and Traders.
Mazda UK sales director Peter Allibon has said that 2020 new car registrations forecasts have had to rely on some “fairly major assumptions” on what can be achieved by retailers before the end of the year.
The initial impact of the COVID-19 coronavirus pandemic resulted in a 43% decline in profitability for UK car retailers during the key March number plate change month, ASE data has revealed.
New car sales are going to change as a result of the COVID-19 coronavirus pandemic... But not how you might think.
Cox Automotive has predicted a stop/start recovery from the COVID-19 coronavirus outbreak for the automotive retail sector – revising its new car sales forecast to detail a 29% decline in 2020.
The National Franchised Dealers Association (NFDA) has said that it is vital that Government and car manufacturers “evaluate a support package that stimulates the market” following April’s 97.3% sales slump.
What Car? is predicting a China-style V-shaped COVID-19 recovery for the new car retail sector and is urging consumers to act fast if they want to take advantage of discounts.
The European new car markets should expect a U-shaped recovery after being hit hard by the COVID-19 coronavirus outbreak in March, according to global sales data compiled by Jato Dynamics.
A CO2 emissions-reducing car scrappage scheme is needed in order to avoid a perfect storm of falling sales and soaring fines from stringent new EU regulations driving carmakers ‘to the edge’.
The PSA Group has said that it is now fully focused on preparing the “rebound in a chaotic economic environment” following a coronavirus-impacted 29% global sales decline in Q1, 2020.
New business volumes in the consumer car finance market fell 1% by volume but grew 2% in value in February 2020, data published by the Finance & Leasing Association (FLA) has shown.
Waiting times for new electric vehicles (EVs) are expected to be the same as petrol and diesel models as the new car market recovers from the COVID-19 coronavirus crisis, according to WhatCar?.
Car dealers focussing on what should have been a busy numberplate change month of March suffered a £17,500 loss for the month prior to of the outbreak of COVID-19 coronavirus, ASE has reported.
The rate of “cash burn” within automotive sector businesses will come under close scrutiny during the COVID-19 coronavirus lockdown, according to GlobalData.
While March's 44.4% registrations decline did not reveal the full extent of the automotive retail sector's COVID-19 coronavirus lockdown decline, Auto Trader has insisted that car buyers are still researching their next purchase.
New car sales declined 44.4% in March as the COVID-19 coronavirus lockdown took its toll in the second half of the key number plate change month for franchised retailers.
Dealers will need cashflow to bridge the gap until the Government’s business and employee support funds drop in, however they must resist a fire sale of stock, ASE Global’s chairman Mike Jones has warned.
