G3 snaps up Cazoo Wholesale business
G3 Vehicle Auctions has acquired the Cazoo Wholesale business, just a day after the online car sales operation announced it was going into administration.
New low-emission zones to boost used sales in Scotland?
An extension of the Low Emission Zone (LEZ) programme in Scotland is predicted to lead to a spike in both new and used car sales activity.
Online seller Cazoo falls into administration
Online used car retailer Cazoo has appointed administrators, putting more than 200 jobs under threat.
Incentives needed to boost used BEV sales
The used battery-electric vehicle (BEV) market is being held back by high prices, according to a new survey. Finance provider MotoNovo Finance is calling on the Government to launch an [...]
Swansway adds BYD to brand portfolio
Cheshire-based automotive retail group Swansway has opened the doors to its first two new BYD outlets following a new partnership with the Chinese brand announced in April.
Vertu sets record despite ‘stalling’ EV sales
Major UK automotive retailer Vertu Group saw record revenues over the past year, despite what it describes as "stalled demand" for electric vehicles (EVs).
MG extends finance deal with Santander
MG dealerships will continue to offer customer finance through Santander for at least the next three years following the extension of a retail and customer funding partnership. The agreement between [...]
Used stock challenge remains for dealers
Finding sufficient used stock to fill forecourt remains a major challenge to UK dealers, according to a new survey.
Wales tops UK league for most affordable average used car prices in April
In its first Top 10 analysis identifying average used car price trends by region, MOTORS found cars in Wales averaged £14,519, compared to the national average of £16,825.
Strong first quarter for used cars sales
Increasing numbers of battery electric vehicles (BEVs) are now entering the used sector, with Q1 sales up by more than two thirds (71.0%) to 41,505 – posting a new record market share of 2.1%. This makes BEVs the fastest growing powertrain as more buyers are attracted to the potential cost-saving and environmental benefits. Hybrids (HEVs) also continued to sell in greater volumes, with 74,502 changing hands in a 49.3% rise. Plug-in hybrids (PHEVs), too, grew in popularity, with sales up 42.5% to 22,065.
Data reveals car affordability struggles for UK drivers compared to EU average
The UK ranked as the seventh least-affordable European country for car ownership overall, with an index score of just 3.1 out of 10. The research considered factors such as fuel prices, vehicle taxes, and insurance costs, compared to average salaries, to assign each place a unique score to reveal where owning a car is the least financially draining.
Motor finance payout times reduced by 30% at Startline
New business portal consists of three elements. First, a digital postbox is designed for dealers to submit documentation as easily as possible online. Second, direct integrations means dealers and introducers can access Startline’s systems directly. Finally, a new internal web-based platform uses a series of algorithms to automatically place motor finance payouts in the most efficient order possible for review.
Market growth continues despite declining private demand
Continuing the trend seen throughout the year, growth was driven entirely by fleets, where registrations rose by 18.5% to reach 81,207 units – more than six in 10 of all new cars registered in April. Private buyer uptake fell by 7.7% to 50,458 units, while business registrations declined by 16.1%, to 2,609.
Used car prices rise for the first time in April
Increase was led by franchised dealers and car supermarkets, both seeing rises of 1% to £24,640 and £16,425 respectively. While the average price from independent dealers dipped 1.5% to £12,885. The only rises by age were among two to five year old and five to 10 year old cars, both up 0.3%.
Pricing and spec announced for new Picanto
The new model features a major exterior redesign and significant updates to the interior, echoing elements of Kia’s flagship EV9 and other recent Kia models inside and out. New vertical headlights and a powerful new lightbar leading into the front air intakes give the car a fresh and dramatic image, while a new rear lightbar lends the Picanto a confident and planted image.
Traditional values – Suzuki Swift review
With its fourth-generation Swift Suzuki hopes to attract buyers who still want a small car but are facing a declining choice in the supermini market.
Vauxhall unveils new PCP offer
Thanks to Vauxhall’s five-year PCP offer, New Corsa Electric is available from £280pcm, Mokka Electric from £286pcm and Astra Electric from £421pcm, the same monthly price as equivalent petrol versions over a four-year period. These prices do not include the savings that most EV drivers enjoy including a lower energy cost per mile (especially when charging on a specific EV tariff at home), lower maintenance costs, and an exemption from Vehicle Excise Duty and congestion charging at the present time.
Charged with positivity – but new market remains far from normal
Positivity stems primarily from the relatively healthy start to the year for new car registrations, which were up 10.4% year-on-year in Q1. However, questions remain about the ZEV mandate's effect on the sector, what will happen after the next general election, and when the market will finally return to its pre-pandemic normality.
Almost half of dealers build “haggle margin” into used car price
April’s Startline Used Car Tracker also shows that 22% agree customers feel better about their deal if they achieve a small discount – although 33% believe fewer customers walk away because they don’t get the discount they want.
Used volumes rise as seasonal trends return
With the exception of seasonally attractive convertibles and coupe cabriolets, all sectors experienced an average drop in values in April’s Cap Live at the three-year age point. Upper medium, or D-Sector, cars dropped by the most, with BEV and diesel models most heavily affected. Volumes continue to reduce in this sector, with the overall share of the used market for these cars halving over the last 10 years.