Bank of England governor Andrew Bailey has said the UK is likely to experience “weak activity over quite a prolonged period” despite optimism prompted by falling inflation and lower energy prices.
Wholesale prices for used electric vehicles (EVs) fell by almost £5,000 during Q4, according to Aston Barclay.
Cap HPI has warned that further ‘significant reductions’ in used electric vehicle (EV) prices are expected after Tesla’s Model 3 lost a quarter of its value in less than four months.
The UK Government believes smart charging could save high-mileage electric vehicle (EV) drivers up to £1,000 per year as part of a new Electric Vehicle Smart Charging Action Plan.
Record trading between Christmas and the start of the new year demonstrated that car retailers were keen to get a “good head start” for strong January trading, according to BCA.
Land Rover has dominated Dealer Auction’s 2023 used car margin rankings, accounting for 40% of the top 10 models offering the strong profit opportunities to retailers.
A third of car dealers predict that used car values will slump by around 10% as the cost-of-living crisis impacts consumer confidence to deliver ‘more difficult’ trading conditions in 2023.
Automotive is entering a period of opportunity with 2023’s “significant change and shortening lead times” paving the way to new horizons, according to Cox Automotive.
Stock starved car retailers are avoiding used electric vehicles (EV) as zero-emission vehicles continue to decline four times faster than their diesel-powered equivalents.
A Net Zero Review delivered on behalf of the Department for Business, Energy & Industrial Strategy (BEIS) has recommended the swift delivery of an electric vehicle (EV) mandate and VAT cuts to make public charging more affordable.
The motor finance sector is expected to record a 6% rise in value despite supply shortages which “continued to weigh on its recovery” during Q4, the Finance and Leasing Association (FLA) has said.
The average electric car remains cheaper to run than an equivalent petrol car unless fuel prices fall below £1 per litre, according to research by MyEnergi.
Improved dealership experiences, more electric vehicle (EV) range and reduced prices and waiting times on new cars are features car buyers would like to see in 2023.
The average price of a used vehicle advertised for sale on Auto Trader rose for the 33rd consecutive month in December – reaching £18,030.
Half of drivers now want to own a car as they are unable to rely on public transport, according to Auto Trader research.
Used LCV prices increased in November, as demand grew steadily for vehicles to service the online shopping and home delivery sector in the run-up to Christmas.
Volkswagen retained its position as the UK’s best-selling new car brand after bumper December registrations accelerated its performance ahead of US rival Ford.
The UK automotive sector remains “adrift of its pre-pandemic performance” after an acceleration in December new car registrations failed to arrest a full-year decline – ending 2022 down 2% at 1.61 million units.
Demand from car buyers is said to be on a “downward trend” after retailers experienced declining sales leads in December.
As some carmakers see opportunity in manufacturer refurbishment programmes, a consumer survey has found one in two carbuyers would choose a factory-reconditioned used car over current approved used vehicles.
