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New car sales spike as EV demand rises
- 05/10/2023
- Posted by: Alan Feldberg
- Category: News
The UK new car market grew 21% in September with 272,610 registrations in the month. According to the Society of Motor Manufacturers and Traders (SMMT), this is the 14th consecutive month of growth. Sales were driven by large fleets, which rose 40.8% to 143,256 units, while private consumer demand grew 5.8% to [...] -
Fleets driving uptick in rising sales
- 05/09/2023
- Posted by: Alan Feldberg
- Category: News
While the latest data around rising car sales makes positive reading, industry experts believe fleet purchases are skewing the figures. The Society of Motor Manufacturers and Trader has reported a 24% rise in new car sales during August. However, Ian Plummer, commercial director, Auto Trader, said: “The [...] -
New car market swells by a quarter
- 05/09/2023
- Posted by: Alan Feldberg
- Category: News
The new car market grew 24.4% in August with 85,657 new vehicles registered. The Society of Motor Manufacturers and Traders (SMMT) reported this was an increase of 16,799 units, although it remains 7.5% below pre-pandemic levels. The increase was fuelled by a surge in registrations by large fleets, rising 58.4% [...] -
Used car market enjoys quarterly growth
- 09/08/2023
- Posted by: Alan Feldberg
- Category: News
The UK’s used car market rose by 4.1% during the second quarter of the year, with 1,832,267 units changing hands. According to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT), the increase equates to an additional 72,583 transactions compared with the same period in 2022, [...] -
Used car market still below pre-pandemic levels
- 08/08/2023
- Posted by: Alan Feldberg
- Category: News
Used car transactions are expected to surpass 7.1 million units this year, which represents a 4.4% increase on 2022. However, this is still three per cent below the average pre-pandemic figure. According to Cox Automotive, there will be nearly 1.9 million transactions in the third quarter of the year, falling to [...] -
New car market reaches one-year of continuous growth
- 04/08/2023
- Posted by: Alan Feldberg
- Category: News
The new car market grew 28.3% in July with 143,921 new vehicles registered. This means the market has enjoyed continuous growth for a full year. According to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), this was the best July performance since 2020. Meanwhile, electrified [...] -
Dealer enquiries dip in July
- 03/08/2023
- Posted by: Alan Feldberg
- Category: News
The latest data from iTrackLEADS shows enquiries for new and used vehicles declined 0.9% in July against 12 months ago. However, despite the number of enquiries dealers responded to increasing by 4.6%, overall sales fell by 15%. Test drives also fell by 1.9% in the month. Adrian Favill, director of iTrackLEADS, [...] -
Peter Vardy to close two sites
- 02/08/2023
- Posted by: Alan Feldberg
- Category: News
One of Scotland’s leading automotive companies The Peter Vardy Group has announced it will close two purpose-built used car supermarkets in Dundee and Glasgow. This move comes as a result of the challenges faced in the used car market post-Covid, primarily due to a lack of used vehicle supply. Peter Vardy, [...] -
Buyers baulk at showroom negotiations
- 12/07/2023
- Posted by: Alan Feldberg
- Category: News
Visiting showrooms remains the most common way for consumers to purchase cars, but a new survey has revealed that other channels are becoming increasingly popular. According to a survey of 2,000 UK drivers commissioned by InsuretheGap, 56% of respondents bought their most recent car from a showroom in a [...] -
Used car prices up for 39th consecutive month
- 06/07/2023
- Posted by: Alan Feldberg
- Category: News
Second-hand car prices are accelerating at their fastest rate in eight months, according to the latest data from the Auto Trader Retail Index. With an average retail value of £17,756, June marks a year-on-year price growth of 3.2% on a like-for-like basis, and the 39th consecutive month of growth, with the [...]