The motor industry lost £2.6 billion in revenue last year as a result of declining car sales, according to analysis by AA Cars.
The rejection of car ownership is likely to become the “new norm” according to a government report which has highlighted the falling number of teenagers getting behind the wheel.
Current registration trends suggest the UK is on course to meet its target of three in five new cars sold being electric by 2030.
Car retailers recorded an average loss of £19,000 in a "tough" November as the average return on sales percentage dipped to 0.97%.
The Finance and Leasing Association has claimed that the point of sale new car finance market remains “on track”, despite an 8% decline in volumes during November.
Franchised car retailers face will face “a new set of trading parameters that they have not experienced for quite some time”, according to corporate finance advisors at Duff & Phelps.
Go Ultra Low has celebrated a record year of EV and hybrid car sales after registrations rose 27% during 2017 – the sixth consecutive sales rise for the sector.
Car manufacturers are attempting generate a bright start to the new year with a range of offers to tempt consumers.
Ford's Fiesta maintained its reign as Britain’s best-selling car during 2017 despite volume brands enduring the brunt of falling new vehicle registrations in 2017.
SMMT new car registration forecasts from two months ago missed the mark by 1% – or almost 27,000 vehicles – a ninth consecutive month of falling sales resulted in a 5.7% decline for the whole of 2017.
A surge in the popularity of SUVs has been credited for a 5.2% rise in registrations across Europe as the sector claimed almost one-third of all new car sales during November.
New car registrations have continued their decline with November’s 11.2% year-on-year fall marking the eighth consecutive month of falling sales.
Signs that the retail-driven new car market might have started to falter towards “a significant downturn” are starting to ask questions of dealers’ preparedness, says Duff & Phelps.
Consumer new car finance volumes fell by 11% but continued to rise in value according to figures released by the Finance and Leasing Association (FLA).
While the government continues to be accused of ‘demonising diesel’, registrations of new diesel cars in October fell by almost 30%.
New car registrations are predicted to fall to 2.565 million units this year – a 4.7% drop on the record figure of 2.693m sales last year.
Short-term pushes based on limited new model launches leave car manufacturer brands liable to sharp falls.
September’s 9% decrease in UK new car registrations has been reflected by a 4.1% reduction in vehicle production in the nation’s manufacturing facilities, the SMMT has reported.
The SMMT has blamed uncertainty surrounding the future of diesel cars and a Brexit-induced hit to consumer confidence for a 9.3% slump in new car registrations during September.
Data complied by AID has revealed a “fast fading interest in diesel” as West Europe’s diesel sale shares dropped to 42.8% in August.