The SMMT has attributed UK car manufacturing’s “serious” decline in productivity of 19.6% during November to falling business and consumer confidence caused by Brexit.
The impact of the new WLTP vehicle emissions test regime on new vehicle supply has been laid bare by new car finance data published by the Finance and Leasing Association (FLA).
Demand for used car stock remained high during November with “manufacturers still struggling to get vehicles onto dealer forecourts” four months after the disruptive introduction of WLTP emissions test legislation.
New car registrations declined 3% in November as the effects of the WLTP emissions test regime and falling consumer confidence conspired to affect supply, according to the SMMT.
Hyundai and Kia have published new zero-emission ranges for their Kona and e-Niro electric vehicles (EVs) after an error in the testing process was discovered - taking both below the 300-mile barrier.
Supply constraints triggered by the introduction of WLTP have resulted in used car values that have defied the usual season trends, according to Cap HPI.
BCA Marketplace has “exceeded expectations” with a set of interim results which revealed an increase in UK remarketing revenues of 23.5% during the sixth month period to September 30.
Fleets will continue to delay disposal of their vehicles until next spring as many await an end to the emissions taxation uncertainty surrounding WLTP, ADESA Remarketing has said.
Nine out of 10 car dealers say supply was restricted, with 67% classing shortfall as ‘severe’
A combination of collapsing new car registrations and WLTP’s effects on fleets and leasing companies is hitting used car supply and driving record wholesale prices
Profits have risen at AM100 dealer group Caffyns following growth in used cars and aftersales.
Startline Motor Finance has warned that an uplift in used vehicle prices prompted by WLTP-sparked new car shortages “will not resolve quickly”.
Marshall Motor Holdings said its full year 2018 profits are still expected to beat its record last year, despite the industry issues caused by WLTP.
Cox Automotive has reported 6.3% increase in used car volumes coming through Manheim auction sites during October as retailers battled for stock amid new vehicle supply shortages.
A choking of new vehicle supply to dealers’ showrooms triggered by the September introduction of WLTP will continue to drive a buoyant used car market into 2019, according to Cazana.
The Finance and Leasing Association’s (FLA) latest published figures showed that consumer car finance business volumes declined by 16% at the point of sale during September.
The September 1 introduction of Worldwide Harmonised Light Vehicle Test Procedure (WLTP) has been blamed for a 20% slump in car dealership profits during the key ‘plate-change month.
Drawing conclusions of market performance is not very helpful this month – it was as much about who was prepared for WLTP as about whose cars were in demand
Pendragon has projected full-year financial results delivering a further 17.2% decline in underlying profit before tax in an interim management statement revealing declines in turnover and profit during Q3.
The Society of Motor Manufacturers and Traders (SMMT) has urged the Chancellor of the Exchequer to “stimulate the market” with his 2018 budget following September’s 16.8% decline in car production.
