Startline Motor Finance has warned that an uplift in used vehicle prices prompted by WLTP-sparked new car shortages “will not resolve quickly”.
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.
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.
The new WLTP rules enforced from September 1 mean that many dealers are still facing significant supply issues for new car model ranges.
Used vehicle values are being artificially inflated as competition hots up amongst buyers for nearly new and ex-fleet stock amid WLTP-related new car shortages, according to Shoreham Vehicle Auctions (SVA).
Mini has ditched its trademark offering of multiple bespoke trim options to ‘reduce complexity’ in its range line-up by offering a simplified three-tier line-up.
Marshall Motor Holdings has expressed its aim of focusing on its “strong balance sheet” in a trading update issued in response to the introduction of the new Worldwide Harmonised Light Vehicle Test Procedure (WLTP).
Audi suffered a near-70% decline in registrations in its home market of Germany during September as the effects of the roll-out of the Worldwide Harmonised Light Vehicle Test Procedure was felt.
Seat emerged as the car manufacturer offering new car customers the biggest discounts in the latest Target Price report compiled by What Car?.
Volkswagen Group brands accounted for 49% of the UK’s total registrations decline of 20.5% (87,336 vehicles) as the brand’s WLTP-related supply woes were felt by car retailers in September.
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.
How has your business been affected by WLTP/RDE 'real-world' emission and fuel economy regulations?
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.
Kia will follow Hyundai’s lead with the introduction of a full-EV e-Niro crossover capable of over 300 miles of emission-free motoring.
