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Cars still seen as a status symbol
- 04/08/2022
- Posted by: Alan Feldberg
- Category: News
A new survey suggests that drivers still see their car as a status symbol – and this is not just restricted to older drivers. According to a survey of 2,000 UK drivers, commissioned by InsuretheGap.com, nearly a third (32%) believe it is important to have a car that is under five years old. Meanwhile, over a [...] -
VWG reports robust growth
- 01/08/2022
- Posted by: Alan Feldberg
- Category: News
Volkswagen Group has published strong results for the first half of the year, with operating results before special items for the first six month totalling $13.2b, a 16.1% increase on the same period last year. It found that BEV demand continued to grow rapidly, with deliveries worldwide increasing by 27% to [...] -
Bentley records record profits
- 29/07/2022
- Posted by: Alan Feldberg
- Category: News
Bentley has reported strong financial results for the first half of 2022, with operating profits of €398m. This is a 124% increase on the same period last year, while the half-yearly figures compare favourably to €389m for the whole of 2021. Turnover increased from €1.324bn during the first half of 2021 to [...] -
Used car values on the rise again
- 21/07/2022
- Posted by: Alan Feldberg
- Category: News
Used car values rose to £9,196 in June, according to data released by BCA, making it the first month-on-month rise in values recorded this year. Values improved by £745 across the board compared to May 2022, equivalent to an 8.8% increase over the month, with volumes broadly static. Meanwhile, performance against [...] -
Car buyers reacting to cost of living crisis
- 20/07/2022
- Posted by: Alan Feldberg
- Category: News
New research from What Car? has found that the cost of living crisis is causing car buyers to delay their purchases, reduce their budgets and consider different makes and models from what they initially intended. It’s in-market research of 1,232 buyers who said they were in the market for a car found 36.61% have [...] -
Symonds secures top CarGurus job
- 20/07/2022
- Posted by: Alan Feldberg
- Category: News
CarGurus has appointed Amanda Symonds as its new managing director for its UK business. Symonds joins the used car buying platform with over a decade of online marketplace business experience, helping to drive consumer demand, supplier engagement and revenue growth. Sam Zales, president and chief operating [...] -
Demand still strong for used cars
- 12/07/2022
- Posted by: Alan Feldberg
- Category: News
The average price of a used car increased 23.7% on a year-on-year (YoY) and like-for-like basis in June, according to the Auto Trader Retail Price Index. Although it’s the 27th month of consecutive price growth, it marks a further softening in the rate of growth, easing from the 28.4% increase recorded in May, [...] -
Car registrations hit the skids in June
- 06/07/2022
- Posted by: Alan Feldberg
- Categories: Featured, News
Figures from the Society of Motor Manufacturers and Traders (SMMT) found that UK new car registrations fell 24.3% in June to just 140,958 units. That makes it the weakest June performance since 1996. Declines were most significant in large fleets, which recorded a 27.6% fall in registrations, while private [...] -
LCV registrations still on the slide
- 06/07/2022
- Posted by: Alan Feldberg
- Categories: Featured, News
The UK new light commercial vehicle (LCV) market declined for the sixth consecutive month in June, falling 23% to 26,443 units. That continues the trend throughout 2022, with LCV registrations down by 24.6% in the first six months compared with the same period last year. According to the Society of Motor [...] -
Used car values tapering off
- 30/06/2022
- Posted by: Alan Feldberg
- Category: News
Used car values averaged £8,451 at BCA in May, a fall of 1.5% on the previous month but still 0.5% higher than May 2021. Data from BCA Valuations shows that used car demand from dealers and car supermarkets is increasingly focussed on vehicles that can be retailed quickly to meet the needs of retail [...]