The value of a used electric vehicle (EV) rose by an average of 30.4% in August as year-on-year like for like values in the wider market declined by 1.3%, according to Auto Trader.
MHA MacIntyre Hudson’s Motor Specialist Team has seen a significant rise in HMRC enquiries at both franchised dealers and car supermarkets.
Aston Martin’s decision to raise £120m in senior secured bonds in a move which will see it paying 12% interest has been described as an “all-or-nothing rescue attempt” by the Financial Times.
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.
The Society of Motor Manufacturers and Traders (SMMT) has highlighted a “failure to make back spring Brexit shutdown losses” despite a 3.3% growth in UK car manufacturing volumes during August.
Cap HPI’s live used vehicle valuations have recorded their first average value growth figures for 18 months.
Volkswagen Group has branded allegations that chief executive Herbert Deiss and chairman Dieter Poetsch were guilty of market manipulation in connection to the dieselgate scandal as “groundless”.
Representative from the industry bodies behind Europe’s automotive manufacturing sector have united in their efforts to deter the UK and EU from allowing a ‘no deal’ Brexit to go ahead.
The used car remarketing sector “continued to strengthen” during August as the average price of a vehicle sold via BCA rose 2.9% month-on-month.
The Government’s recently Operation Yellowhammer ‘no deal’ Brexit contingency plan will have notable implications for the motor finance sector, according to Bluestone Credit Management.
Seat’s Alhambra has grown its reputation as an in-demand MPV thanks to the results of sales data compiled in Auto Trader’s monthly fastest-selling cars rankings.
Pendragon has announced plans to close 22 of its Car Store used car supermarkets and one vehicle preparation centre after detailing a £32.2m underlying pre-tax loss in its H1 2019 financial results.
A reduction in vehicle usage is leading to an increased demand for lower annual mileage car leasing agreements, according to data published by Leasing.com.
Fluctuations in the value of used cars and the wider adoption of ever-faster remarketing platforms have driven the used car market to become more “complex and volatile” in 2019, Cap HPI has reported.
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.
Franchised car retailers are offering discounts of up to 40% of a vehicle’s original list price in an efforts to offload their pre-registered 19-plate stock during the September ‘plate change month.
Car retailers saw their used car stock turn speed up as an influx of pre-registered cars onto their forecourts led to the swift sale of nearly new vehicles, according to Indicata.
August delivered evidence of significant pre-registration driven by the requirement for market share and the need to register WLTP cars in the face of the arrival of RDE2 legislation.
Inchcape has generated £76m with the disposal of six Volkswagen, BMW, Mini and Jaguar Land Rover (JLR) retail sites in Australia.
More than half of used car retailers reported that they had achieved the same or improved margins during August, according to a Cox Automotive Dealer Sentiment Survey.
Automotive Management Live: Where franchised and independent dealers will find everything they need to know about operating a modern showroom and service and repair facility fit for the digital age.
When: November 12 2020
Where: Birmingham NEC
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