Car sales in Wales crashed over 26% last month, the worst of any part in the UK. Just 2,363 new models were registered and that's even below the 3,230 recorded in the pandemic hit showrooms of last year and the total for the country was a little over 68,000. It was a very dismal August for the motor trade across the country, the lowest figures recorded since 2013 and the overflow from … [Read more...]
More buyers looking for new cars after lockdowns
Some 2.7 million more drivers are planning to opt for a new car this year than previous years, according to Close Brothers Motor Finance’s upcoming Britain Under the Bonnet Report. For 45% of drivers, a new car is the preferred option – significantly up from 38% last year. The lockdown has fuelled fresh demand for a private vehicle and working from home has enabled lots of consumers … [Read more...]
More families shifting towards used cars
In a year shaped by a pandemic and strict social distancing restrictions, drivers have still been able to get their hands on the car they wanted, said Seán Kemple, Managing Director of Close Brothers Motor Finance. "In fact, a new-found reticence to use public transport has shifted attitudes toward car ownership, a trend likely to grow even further in 2021. "Smaller models remain … [Read more...]
Used electric cars now growing sales
Second-hand battery and electric cars are being sought by drivers, says the Society of Motor Manufacturers and Traders in their latest report on the used car market. The UK’s used car market increased by 4.4% in Q3 after two consecutive quarters of decline, according to the latest figures published today by the SMMT. During the busiest quarter since the end of 2016, some 2,168,599 transactions … [Read more...]
Car dealers are optimistic of recovery
The UK motor industry has been hit hard by Covid-19, but car dealers are optimistic about the future of the sector. New research from the Britain Under the Bonnet report, from Close Brothers Motor Finance, reveals that short term confidence plummeted during April, but medium to long term optimism has begun to improve. At the beginning of 2020, 98% of car dealers were confident about business … [Read more...]
Finance company develops “sofa showroom”
Close Brothers Motor Finance has bolstered its Showroom proposal platform by giving motor dealers the opportunity to bring the showroom directly to their customer’s home with remote quote and apply. The enhanced functionality to the Showroom platform will enable dealers to email vehicle quotes directly to the customer following initial discussions around the vehicle and finance options. … [Read more...]
On-line business predicted to soar
The world drastically changed in March 2020, and retail changed too. The nature of customer demand has been turned on its head, and anybody trying to sell products or services in this environment needs to work to keep up. It’s a challenging and unprecedented time for not only dealerships, but for the motor industry as a whole. Buyers are having to stay home and showrooms are closed, so now … [Read more...]
Call on Chancellor to push green drive
With the ban on new diesel and petrol cars brought forward to 2035, wednesday’s Budget is the time for the Government to put its money where its mouth is. There’s no doubt that alternative fuel vehicles are the future, but the motor industry needs support if it’s to hit the goal, said Seán Kemple, Director of Sales at Close Brothers Motor Finance. “For drivers, it’s time to see mandatory … [Read more...]
EVs used sales soar nearly a quarter
The flow of used evs coming to market jumped 23.4% last year, show latest figures from the Society of Motor Manufacturers and Traders. This is going to be a challenge for the resale trade but a tremendous opportunity said Seán Kemple, Director of Sales at Close Brothers Motor Finance. The SMMT’s used car registrations show a slight 0.1% decline in sales of used cars for Q4 2019, and a dip of … [Read more...]
Dealers confidence stronger now for 2020
Exclusive findings from Close Brothers Motor Finance’s Dealer Satisfaction Survey reveal that most motor dealers (96%) are confident about business prospects in the market going into 2020, with almost six in 10 (58%) ‘very confident’. At a time when the new government and the Brexit extension offer a potential end in sight for the political turbulence, the research found that ‘maintaining … [Read more...]