The Finance and Leasing Association (FLA) has reported that the automotive retails sector’s point of sale finance business declined by 2% during August.
The average UK car dealer lost £14,000 during August in what has been described as a “significant deterioration” on the break-even result achieved in the same month a year earlier.
New car registrations rose just 1.3% as the key numplerplate change month of September saw the sales appeal of the new 69-plate struggle to overcome consumers' "Brexit anxiety".
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An 8.7% decline in new car registrations across Europe during August has been attributed to the rush to sell vehicle not compliant with the incoming WLTP a year earlier.
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The Finance and Leasing Association (FLA) has reported that new business in the point of sale (POS) consumer car finance sector rose 5% by volume during July.
Kia Motors UK managing director Paul Philpott has said that the brand can achieve 120,000 vehicle sales after projecting a record 97,000 sales for the brand in 2019.
Sales of new diesel cars have fallen for the 29th month in a row, but the pace of decline is slowing, says the Society of Motor Manufacturers and Traders.
Europcar has begun competing with franchised dealers by offering consumers the chance to get a 69-plate car in September without the traditional long-term financial commitment.
The point of sale (POS) car finance market posted year-on-year declines of 3% by volume and 2% by value across both new and used car sectors during June, according to the Finance and Leasing Association (FLA).
Buyacar has advised car buyers to steer clear of costly options funded by a PCP finance plan – branding the resulting uplift in monthly payments a “rip-off”.
The 10 car manufacturers offering the biggest discounts to buyers accounted for almost half of the UK’s registrations during the first half of 2019, according to What Car?.
Marshall Motor Holdings has reported a 9% decline in pre-tax profits in its interim financial results to June 30, 2019 – despite outperforming the UK’s declining new car market.
The Society of Motor Manufacturers and Traders (SMMT) has said that electric vehicles’ share of new car registrations could double in 2020 after sales almost tripled amid a 4.1% decline in the wider market during in July.
The DVLA’s ‘Register a Vehicle’ (RaV) service has handled over 1.5 million new vehicle registrations in the first year in operation.
Demand for SUVs appeared to stall across Europe during June as the region suffered a 7.9% overall decline in registrations, Jato Dynamics has reported.
Cox Automotive has reiterated its prediction of a 2.9% decline in new car sales for 2019 after the publication of half-year data by the Society of Motor Manufacturers and Traders (SMMT).
Despite the advent of online car retail platforms and an attempt to deliver soft-touch approach in showrooms, 52% of car buyers feel that the sales process has not changed.
Sales of the all-new, all-electric £2 million Lotus Evija hypercar will be handled through the dealership network, according to Lotus Cars chief executive Phil Popham.
A 4.8% drop in private registrations during June closed off a challenging second quarter for the UK’s franchised dealers.
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The production of cars in the UK declined by 15.5% during May as demand from domestic motorists for home-built vehicles slumped by 25.9% year-on-year, the SMMT has reported.
IVendi has said that list prices on new cars is creating uncertainty for new car buyers looking for a good deal.
