-
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 [...] -
New car market surges by 25%
- 05/07/2023
- Posted by: Alan Feldberg
- Category: News
The new car market grew 25.8% in June with 177,266 vehicles registered, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The June performance marks the 11th consecutive month of growth as the industry gradually overcomes the pandemic-induced supply chain shortages that [...] -
Test drives on the wane
- 05/07/2023
- Posted by: Alan Feldberg
- Category: News
One in three British motorists (29%) didn’t arrange a test drive with their most recent new car lease or purchase, an independent new study has revealed. Mobility provider SOGO researched attitudes towards the popularity of the traditional test drive. The findings indicate that although 88% of motorists feel that [...] -
Interest rate rises won’t impact vehicle sales
- 23/06/2023
- Posted by: Alan Feldberg
- Category: News
The Bank of England’s decision to rise interest rates to five per cent is not expected to have an immediate impact on vehicle sales. This is according to Auto Trader, which believes the actual impact on the cost of buying a second hard car will be minimal. Rachael Jones, Director of automotive finance at Auto [...] -
Perfect 10 for rising car sales
- 05/06/2023
- Posted by: Alan Feldberg
- Category: News
The UK new car market has posted its longest uninterrupted period of expansion for eight years, as registrations grew 16.7% in May to reach 145,204 units according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The performance marks 10 consecutive months of growth, although [...] -
Used car market buoyant in first quarter
- 11/05/2023
- Posted by: Alan Feldberg
- Category: News
The UK’s used car market grew 4.1% in the first quarter of 2023 following three successive quarters of decline, according to the Society of Motor Manufacturers and Traders (SMMT). It found that 1,847,149 transactions took place, with 72,798 additional cars changing hands compared with the same period in 2022, as [...] -
Nine-month cycle delivers new optimism
- 04/05/2023
- Posted by: Alan Feldberg
- Category: News
The UK new car market recorded its ninth successive month of growth in April, with an 11.6% increase to reach 132,990 registrations, according to the Society of Motor Manufacturers and Traders (SMMT). Large fleet registrations grew by a third (33.1%) to 68,537 units while deliveries to private buyers fell by -5.5% [...]