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Cinch expands used car sales service with new stores
- 18/07/2024
- Posted by: Alan Feldberg
- Category: News
Online used car retailer cinch has announced it will open new sites in Northampton, Birmingham, Bristol and Manchester through July and August, with more locations to follow later in the year. The new stores will offer a wide range of used cars from cinch’s overall stock of more than 5,000 vehicles. Visitors [...] -
Carwow secures significant funding boost
- 16/07/2024
- Posted by: Alan Feldberg
- Category: News
The Carwow Group has announced an additional £41m in funding to accelerate growth across the UK, Germany and Spain. It has been backed by San Francisco venture capital firm Bessemer Venture Partners, with this investment raising the company’s value to £250m. Carwow will use the capital to expand its service [...] -
New car sales hit one million milestone
- 04/07/2024
- Posted by: Alan Feldberg
- Category: News
More than a million new cars were sold in the UK in the first six months of the year for the first time in five years. According to the Society of Motor Manufacturers and Traders (SMMT), new car registrations rose in June by 1.1% to reach 179,263 units, meaning that so far this year 1,006,763 new cars have been [...] -
BYD drives demand in new cars
- 21/06/2024
- Posted by: Alan Feldberg
- Category: News
Auto Trader has reported strong consumer demand for new cars, with a 28.5% year-on-year increase in visits so far in June. This continues a recent trend in robust buyer activity, with visits up 22% and 21% in May and April respectively. Demand is being driven by wider choice and lower prices as a result of [...] -
BCA reports steady sales in May
- 18/06/2024
- Posted by: Alan Feldberg
- Category: News
BCA has reported that supply and demand remained strong through May, with a reduction of £132 to £7,376 in the average price of sold vehicles. Looking at the data more long-term, average prices have dipped just £200 since the start of the year. Meanwhile, monthly sold volumes rose to the second highest point [...] -
VMs could benefit from waning EV interest
- 14/06/2024
- Posted by: Alan Feldberg
- Category: News
New data suggests that vehicle manufacturers scaling back on the production of electric vehicles due to cooling consumer demand could see their margins increase. This is according to Bloomberg Intelligence's (BI) European Automotive Midyear Outlook. It said that BEVs are priced 30% higher than internal [...] -
UK’s most popular cars unveiled
- 12/06/2024
- Posted by: Alan Feldberg
- Category: News
New data has revealed the fastest selling and most popular used cars in the first four months of the year. According to online car selling platform Cinch, the Ford Grand C-Max was the model that sold quickest through its platform, while Ford models also took the top two spots in the most popular cars between [...] -
Car sales up for 22nd straight month
- 05/06/2024
- Posted by: Alan Feldberg
- Category: News
The UK new car market recorded growth for the 22nd month in a row in June as registrations rose 1.7% to 147,678 units. According to the Society of Motor Manufacturers and Traders (SMMT), this represents the best May performance since 2021 although it remains down 19.6% on 2019. Fleets and businesses continued to [...] -
EVs reach record high in used car sales
- 10/05/2024
- Posted by: Alan Feldberg
- Category: News
The used car market has made its strongest start to a year since before the pandemic, with 1,967,923 sales in the first three months of 2024. This represents a 6.5% increase with sales volumes growing for 16 months in a row, according to data released by the Society of Motor Manufacturers and Traders [...] -
Price replaces range as top priority for EV drivers
- 10/05/2024
- Posted by: Alan Feldberg
- Category: News
Price has replaced range and the number one influential factor for potential electric drivers, according to a new survey. The Venson Automotive Solutions’ ‘Attitudes to Electric Vehicles’ survey found that 44% of drivers said cost was the now most important consideration when thinking about a switch to EVs. [...]