While consumer confidence seems to have improved during the key number plate change month of September efforts to prop up ailing new car sales seem to be hampering parts of the used car market.
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.
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.
The September roll-out of the new RDE2 vehicle emissions standards is causing a re-emergence of new car pre-registrations, the Vehicle Remarketing Association (VRA) heard at its July members meeting.
With Brexit looming and the uncertainty of what that will mean for the industry, it’s fair to say that Q1 2019 has been like no other for UK automotive dealers.
Driver 1 has announced the launch of its car subscription service, offering car retailers the opportunity to monetise pre-registration stock.
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.
Car manufacturers rush to sell new cars which are not compliant with the new WLTP and RDE fuel economy and emissions legislation has created a “false economy” in which sales rose 23.1% in August.
Car dealers are set to miss their September new car registrations bonuses as a result of stock shortages sparked by the switch to WLTP vehicle emissions test regime, according to Coachworks Consulting.
Bumper new car discounts prompted by the need for manufacturers and car dealers to sell-off stock ahead of the new WLTP fuel emissions legislation have been highlighted to consumers by What Car?
Car buyers are being advised to choose pre-registered diesel cars to avoid an increase in the tax that has seen the price of some of the most popular models in the market go up by more than £300.
Buyacar has highlighted car dealers’ “dash to pre-register cars” by identifying the top 18-plate used car bargains for potential customers – just weeks after the March plate-change got underway.
Opel and Vauxhall could look towards PSA Group retailers to sell cars across Europe as the brand looks to a future of more lucrative sales and reduced pre-registration.
Car manufacturers' lure bonus payments and VAT incentives is continuing to push new vehicles onto car dealers books, the value of unsold stock rising 16% in a year according to UHY Hacker Young.
A loss of £17,000 was experienced by the average UK motor retailer in May – a result £7,000 down year-on-year.
AM spoke to industry experts to find out if some of the motor retail industry’s long-held beliefs still apply today.
The average UK car dealer produced a marginal profit of £600 per site in April, a significant drop from the prior year’s profit of £8,000.
Research into pre-registration activity has revealed a 5% increase in 17/17 plate volumes on 16/16 plate volumes in May, according to Cap HPI.
Motorpoint has imported 100 pre-registered Volkswagen Golfs in a bid to allow its customers beat the incoming VED road tax changes.
Carwow has revealed that pre-registered cars can cost customers an extra £1,500 when compared to the brand new equivalent with the results of recent research.
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
Find out what features are in this month's, and future, issues