The UK new car market has hit the million motors mark for the first time in five years, after new car registrations rose in June by a modest 1.1% to reach 179,263 units, according to the Society of Motor Manufacturers and Traders. As a result, so far in 2024, 1,006,763 new cars have been registered, up 6.0% on the previous year but still down -20.7% on 2019. June’s market growth was driven … [Read more...]
Tradelines 12 June
Residual values of used cars with manual transmission are in decline, with some models worth as much as 21% less than their automatic equivalents and fewer manual cars for sale in 2024 than ever before, reports Car Dealer magazine. Among the manufacturers that no longer offer any new models with manual transmission are Volvo, Mercedes, Jaguar and Lexus, all of which have seen a massive growth in … [Read more...]
Make money from these models, say Carwow
New figures revealed UK car dealers’ 10 most in-demand models, with owners being advised they could get a better price if they sell as soon as possible. Overall, the Volvo XC40 was identified as the country’s most sought after car by dealers. As high demand can often have a positive impact on a car’s value, this means owners have an opportunity to receive a better offer than usual if they act … [Read more...]
Volvo evolving into EV future
Updated Volvo Cars model range is now on sale in the UK, including new long-range fully electric EC40 and EX40 versions. Volvo continues progress towards fully electric future with uniform naming introduced across its UK model range. Fully electric C40 Recharge and XC40 Recharge align with other models to become the EC40 and EX40 respectively and both cars are available with new Single Motor … [Read more...]
Newslines 20 February
A feasibility study will be carried out into reopening a railway station at St Athan, Vale of Glamorgan. It would serve the expanding industrial businesses at the former airbase and housing developments but its only a short distance between Rhoose and Llantwit Major halts. Volvo Cars is streamlining and standardising its model names for fully electric cars, in line with ongoing transformation … [Read more...]
Newslines 9 February
Car dealers face becoming the focus of a new customers financial scandal similar to PPI claims of the last two decades. The Financial Conduct Authority is investigating cases of finance houses not paying out compensation to customers over now-banned ‘discretionary commission arrangements’ and the watchdog is using its powers under S166 of the Financial Services and Markets Act 2000 to identify … [Read more...]
The best 4×4 by scrap
Land Rover is the most valuable brand for scrap overall, with the average price quoted for these vehicles sitting at 28.8% higher than the average. The quoted price is directly linked to the weight of the vehicle and with all Land Rover vehicles being large SUVs and 4×4 vehicles, they’re definitely one of the weightier brands when all models in their range are considered. The data is part of … [Read more...]
Best and worst cars to buy and own
When buying a new car, it’s always worth thinking about the potential resale value and how much it will depreciate over time. Some cars can prove to be very worthy investments, with their value increasing over time, while others may drop quickly in value as soon as they leave the forecourt. Elements such as age, condition, mileage and number of owners are all influencing factors, and there are … [Read more...]
SMMT gets new president
The 83rd President of the Society of Motor Manufacturers and Traders (SMMT) will be Mick Flanagan, Vice President for Volvo, JLR, Toyota, Nissan at Adient. He will assume office from 1 January 2024, replacing Alison Jones, Senior Vice President Global Circular Economy at Stellantis, who steps down after completing her two-year tenure. Mick draws experience from a long career in the automotive … [Read more...]
Fleet discounts driving slight rise in new car registrations
October’s new car market grew by 14.3% to reach 153,529 registrations, 7.2% above pre-pandemic levels and marking the best performance for the month since 2018, according to the Society of Motor Manufacturers and Traders. The 15th month of consecutive growth was driven almost entirely by large fleet registrations, which grew 28.8% to reach 87,479 units. Private demand was stable at 62,915 … [Read more...]
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