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Car finance costs soaring
- 17/11/2022
- Posted by: Alan Feldberg
- Categories: Featured, News
Monthly payments on new car finance contracts have risen by more than 40% on some models since 2019. This is according to the latest research by What Car?, which found average monthly personal contract purchase (PCP) payments had risen by at least 22.4% across five sample models. Interestingly, the research also [...] -
Government confirms 2030 ban to remain
- 19/10/2022
- Posted by: Alan Feldberg
- Categories: Featured, News
The UK government has confirmed that the 2030 ban of the sale of new petrol and diesel vehicles will go ahead. Transport Secretary Anne-Marie Trevelyan confirmed the decision was part of the government’s ambitions to reach net zero by 2050. Former Prime Minister Boris Johnson brought the ban forward from 2035 [...] -
VWFS to launch ‘inflation-proof’ services
- 07/10/2022
- Posted by: Alan Feldberg
- Category: News
Volkswagen Financial Services UK (VWFS) will activate 810,000 ‘inflation-proof’ service plans this year in an effort to help customers tackle affordability issues in the current economic climate. The car finance provider has already sold 728,000 service plans in 2022 but says its year-end forecast is an 11% [...] -
BCA agrees Alan Day partnership
- 06/10/2022
- Posted by: Alan Feldberg
- Category: News
BCA and Alan Day Motor Group have announced a new exclusive online remarketing partnership offering up to 1,000 vehicles annually. The programme will run for an initial 12 months and will feature a wide range of part-exchange stock including Volkswagen and Skoda vehicles. Introduced from 18 October, the deal [...] -
LCV market enjoys first growth month of 2022
- 06/10/2022
- Posted by: Alan Feldberg
- Category: News
Britain’s light commercial vehicle (LCV) market grew by 10.8% to 34,950 units in September, making it the first month of growth in registrations this year. However, according to the Society of Motor Manufacturers and Traders, the performance is still some 35.5% below the five-year pre-pandemic average. The [...] -
BCA reports dip in used car values
- 23/09/2022
- Posted by: Alan Feldberg
- Category: News
BCA has reported that average monthly used car values slipped back in August, principally driven by a changing model mix through the online auction channel. Values averaged £8,954 across the board at BCA in August, down from £9,464 the previous month, with performance against guide values down marginally on July [...] -
LCV values find their level
- 20/09/2022
- Posted by: Alan Feldberg
- Category: News
BCA has announced that LCV values averaged £9,864 in August, down from the figure of £10,220 reported in July but still ahead of May and June. Performance against guide prices improved to 97.5%, with just a £10 differential between August 2021 and August 2022. Stuart Pearson, BCA COO UK, said: “The overall [...] -
CitNOW announces RTC acquisition
- 17/08/2022
- Posted by: Alan Feldberg
- Category: News
CitNOW Group has expanded its technology portfolio with the acquisition of Real Time Communications (RTC). RTC supplies integrated technologies that streamline sales and aftersales operations for automotive retailers by enabling staff to manage the entire customer journey in one place, using simple, user-friendly [...] -
Sales slump a supply issue
- 11/08/2022
- Posted by: Alan Feldberg
- Category: News
Auto Trader says the fall in used cars sales in the second quarter of the year has nothing to do with falling demand. The Society of Motor Manufacturers and Traders reported that the UK’s used car market shrank by 18.8% during the three months from April to June, with 1,759,64 transactions taking [...] -
Car buyers lose patience with lag times
- 10/08/2022
- Posted by: Alan Feldberg
- Category: News
Less than five per cent of new car buyers are willing to wait more than a year for a new vehicle. According to the latest research by What Car?, the global semiconductor shortage has pushed vehicle lead times to beyond 12 months across many manufacturers, and while buyers are aware of long delays, few are willing [...]