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EV demand drives sales rise
- 07/03/2022
- Posted by: Alan Feldberg
- Category: News
UK new car registrations rose by 15% in February as 58,994 new cars joined Britain’s roads, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The rise of 7,682 units was in comparison with the same month in 2021, when the pandemic shut car showrooms across the [...] -
Buyer demand holds firm in February
- 04/03/2022
- Posted by: Alan Feldberg
- Category: News
Consumer demand continues to rise for new and used vehicles, according to the latest data from iTrackLEADS. It sampled data from 300 dealers across the country, which showed a nine per cent rise in the number of leads in February against the same month last year, while test drives increased by 128%. However, the [...] -
Used car market shows signs of settling
- 03/03/2022
- Posted by: Alan Feldberg
- Category: News
The used car market has made a steady but unspectacular start to the New Year, according to BCA’s latest data. External economic pressures and the cost-of-living squeeze are affecting consumer demand and the strong performance typically seen in the early weeks of the New Year has simply not materialised in [...] -
EV demand triples according to fresh data
- 01/03/2022
- Posted by: Alan Feldberg
- Category: News
Annual EV sales almost tripled according to new data released by Volkswagen Financial Services UK (VWFS). It found that annual finance cases for battery electric vehicles (BEV) surged 160% from 2020 to 2021. This trend is all the more impressive considering the level of volatililty the automotive industry has [...] -
Cazoo secures £465m additional funding
- 14/02/2022
- Posted by: Alan Feldberg
- Category: News
Online car retailer Cazoo has raised $630m (£465m) in additional capital through a shares transaction. The transaction is led by new investor Viking Global Investors, alongside participation from several existing shareholders including Mubadala Investment Company, D1 Capital and Willoughby Capital as well as other [...] -
Used car market rallies in 2021
- 09/02/2022
- Posted by: Alan Feldberg
- Category: News
The UK’s used car market grew by 11.5% to 7,530,956 transactions in 2021, according to the latest figures released by the Society of Motor Manufacturers and Traders (SMMT). It found that 777,997 more cars changed hands than in 2020, a year which was even more badly affected by Covid lockdowns and unsettled [...] -
Auto Trader predicts sales recovery
- 07/02/2022
- Posted by: Alan Feldberg
- Category: News
Auto Trader is expecting car sales in 2022 in the UK to exceed two million, up from 1.65 million last year. It expects new car volumes to rise again as production increases, making the supply and demand challenge less acute that it is now. Ian Plummer, commercial director, Auto Trader, said: “The vice-like [...] -
Used car prices rise for 22nd straight month
- 07/02/2022
- Posted by: Alan Feldberg
- Category: News
The latest Auto Trader Retail Price Index has reported that the average price for used cars rose to £18,067 in January. It was the 22nd consecutive month of price growth and represented a remarkable 31.3% year on year growth on a like-for-like basis. This massive price growth continues to be fuelled by the [...] -
Aftermarket facing £1.3bn shortfall
- 03/02/2022
- Posted by: Alan Feldberg
- Category: News
The fall in new car volumes over the last three years is set to hit aftersales revenues significantly, according to new research. According to REALtime Communications, the net result is a forecast shortfall of £1.3bn in new car servicing revenue over the next four years. REALtime's insights and data director [...] -
Cazoo completes Italian job
- 28/01/2022
- Posted by: Alan Feldberg
- Category: News
Cazoo has announced that it has agreed to acquire brumbrum, Italy’s leading digital car retailer and subscription platform for €80m in a mix of cash and shares. Following its recent launches in France and Germany and its acquisitions in Spain and Italy, Cazoo will now have a strong presence across each of the [...]