Plunging residual values in the electric vehicle (EV) market are creating substantial financial challenges for leasing companies, manufacturers, and customers alike, according to Auto Data Solutions (ADS) which is warning of a prolonged impact on the sector.
Lotus dealerships will begin selling 'hyper hybrid' versions of its luxury cars as the carmaker shifts from its exclusively electric vehicle strategy due to consumer reticence.
The Government will launch a fast track consultation on the Zero Emission Vehicle (ZEV) mandate that could change the way OEMs are fined for missing targets.
Vauxhall is to close its van manufacturing plant in Luton, a decision that could impact 1,100 jobs.
Van operators are fearful that a lack of support for the take-up of operationally challenging zero emission LCVs will lead to failures to reach Government targets.
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).
Direct warnings to the UK Government about the feasibility of ZEV Mandate targets without more work to get motorists into electric cars appear to have fallen on deaf ears.
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.
The used EV market is showing signs of decline, according to recent data from Marketcheck, with sales slipping while petrol vehicle sales achieved a yearly peak.
October marks the third consecutive month that electric vehicle (EV) sales have hit the 20% mark and places the car industry well above the 2024 targets set by the UK’s Zero Emission Vehicles (ZEV) mandate, according to New AutoMotive.
Battery electric vehicle (BEV) prices in the used car market have shown signs of stabilising, according to Indicata’s latest Market Watch report.
Skoda CEO Klaus Zellmer has said that the coming year will be "the most fierce environment for EVs" and warned: "That’s not healthy. It will destroy residuals, it will destroy customer sentiments".
The Government's aims for zero carbon motoring will need to do more to convince a general public which is happy to be greener if it doesn't cost them more money or time, notes AM's regular columnist Professor Jim Saker, president of the Institute of the Motor Industry.
The Vehicle Remarketing Association (VRA) is warning that the current health of the used car market could rapidly deteriorate in the last quarter of 2024, due to several emerging issues.
A new survey from the Startline Used Car Tracker reveals that almost half of dealers (47%) believe that the ZEV Mandate targets should be relaxed
Andy Goss of Vertu Motors and a former car sales boss of Jaguar Land Rover, Porsche and Toyota, warns the new Labour Government that the ZEV Mandate is a blunt instrument that unintentionally may speed the exit of some franchised dealer groups.
Data experts at Cap HPI are warning the industry to approach the upcoming months with care as the pressure to meet Zero Emission Vehicle (ZEV) mandate requirements intensifies.
The British Vehicle Rental and Leasing Association (BVRLA) has raised concerns about the feasibility of the UK Government's 2030 Phase Out target for new internal combustion engine (ICE) vehicles.
Car makers are on track to meet their zero-emission vehicle (ZEV) mandate targets for this year, despite many falling short of the electric vehicle (EV) sales targets.
In this, the second part of AM’s latest Manufacturing Insight, Thierry Koskas, Citroën’s chief executive, discusses the zero-emissions challenge facing both the UK and Europe, competitive pressure from Chinese brands and Citroën’s unique offering in the all-electric B-segment with the arrival of the e-C3.
