Used car market continues to rise
Four straight quarters of growth saw 351,915 more motorists get behind the wheel of a second hand car than in 2022 as the previous year’s supply constraints receded, delivering more choice to buyers.
Four straight quarters of growth saw 351,915 more motorists get behind the wheel of a second hand car than in 2022 as the previous year’s supply constraints receded, delivering more choice to buyers.
The consumer new car finance market reported a fall in new business of 15% by value in April compared with the same month in 2022, while new business volumes fell by 18%. In the first four months of 2023, new business volumes in this market were 9% lower than in the same period in 2022.
The actions align Ford’s product development organisation and administrative functions in Europe, with a smaller, more focused, and increasingly electric product portfolio. The plans include the elimination of approximately 3,800 jobs, creating a leaner, more competitive cost structure for Ford in Europe.
The Hyundai Kona Electric is an all-electric version of the Hyundai Kona subcompact crossover SUV. It was first introduced in 2018 and is available in both front-wheel and all-wheel drive configurations. It is powered by a 64 kWh lithium-ion polymer battery and an electric motor that produces 201 horsepower.
To enable management teams to navigate change and understand where there is a significant financial opportunity for their business, APD Business Management has created a 25-point Dealer Management Health Check as part of its new industry whitepaper – How dealers can maximise profits in an uncertain market.
Fleet managers are freed up to focus on more strategic activities as drivers can locate the most convenient service provider in their area. AI is used to prioritise providers with the appropriate capabilities and cost profile. Technology enables drivers to serve their needs in real-time and improve compliance procedures by creating a digital record of all interactions.
Open banking enables customers to pay directly from their personal bank accounts to a dealer’s account, using their banking app rather than relying on debit or credit cards provided by a third-party. Despite open banking being relatively new it is experiencing exponential growth in the UK with 4.5 million regular users across all retail sectors
Audi UK is an early adopter of the new technology. Its tool provides a detailed comparison across its range and any other vehicles with total cost of ownership data. In addition, it offers relevant information for private customers, company car drivers and fleet managers.
One of the core truths about the used car market is that people will buy used cars when the economy is good, and also when it is bad. They continue to need personal transport in all conditions and only in the very worst does the sector really tend to suffer. The factors that have helped make sales so buoyant in recent times such as consistent consumer demand and low stock supply look set to ease only by degrees and we are pretty confident that we will enjoy a strong H2
As of the 30th June 2022, all EV charge points in the UK must meet the requirements of The Electric Vehicles (Smart Charge Points) Regulations 2021. The regulations apply to occupiers of domestic premises and their visitors, and people at their place of work including fleet drivers at most depots. WHY IS THIS LEGALISATION COMING INTO EFFECT? Electric cars are growing [...]