The UK’s car manufacturing sector remained “well below pre-pandemic levels” during Q1 2023, despite a 6% increase in production volumes over the three-month period.
Used car prices declined by 1% during April as Easter holidays delivered a seasonal drop in demand, Cap HPI has reported.
Light commercial vehicle (LCV) values reached their highest point since July last year as the sector’s performance defied expectations during Q1, BCA has said.
Car retailers have been urged to show support to cash-strapped car buyers as more than a quarter take longer to assess affordability amid the cost-of living crisis and the viability of alternative fuel vehicles (AFV).
The used car market’s supply of electric vehicles (EV) has fallen 59.1% (100 days) in 2023 thanks to a reduction in prices, according to Indicata UK’s latest Market Watch report.
Auto Trader has called for incentives and tax breaks to make electric vehicles (EV) more affordable and put the UK Government’s plan to ban pure petrol and diesel vehicles by 2030 “back on track”.
Tesla’s Model Y emerged as Europe’s best-selling car during Q1 2023 as the crossover electric vehicle (EV) beat Dacia’s Sandero, the VW T-Roc, Peugeot 208 and Vauxhall Corsa to top spot year-to-date.
Fast-growing direct-to-consumer electric vehicle (EV) brand Zeekr has told AM it ‘doesn’t not rule out’ retail partnerships after announcing its European launch will get underway before the end of this year.
Used cars ended Q1 with a third successive month of rising values at BCA auctions after what chief operating officer Stuart Pearson described as a “very encouraging start to 2023”.
Used electric vehicle (EV) buyers can afford to be more aspirational with their car purchasing plans thanks to value declines that have impacted premium products hardest, according to Cap HPI.
INEOS Automotive has revealed plans to follow-up its Land Rover Defender-rivalling Grenadier 4x4 with a more compact, zero-emissions off-road vehicle.
Car buyers are "releasing the handbrake" on their purchase plans, with six-in-10 planning to buy their next vehicle within the next 12 months, according to new research.
The under-pricing of used car stock cost UK car dealers £25.5 million in missed retail opportunity in March alone as average values continued to rise, Auto Trader data shows.
Kia has outlined its plan to grow its profit contribution from electric vehicle (EV) sales more than 10-fold as annual zero emissions vehicle volumes grow to 1.6 million by 2030.
The Finance and Leasing Association has predicted a 6% decline in car finance during 2023 after new business volumes declined 5% in February.
New car registrations ended Q1 2023 on a high after demand from large fleets drove year-on-year volume growth of 18.2%.
New and used car handovers were down 29% in March as supply challenges continue to “plague” the automotive retail sector.
Average used car stock levels fell for the third consecutive month, in March, reaching a six-month low, according to eBay Motors.
Stellantis and Ford remain bullish about their electrified future despite the UK Government’s threat of £15,000 per car fines for OEMs who breach its proposed electric vehicle (EV) sales mandate.
The Government has pledged to stick to its plan to ban the sale of new petrol and diesel cars from 2030 as it revealed its Powering Up Britain strategy to transform the UK’s energy infrastructure.
