Used sector is up despite downward market trends London has seen the greatest increase in used 4x4 sales in the first quarter of the year, despite rising fuel prices, the congestion charge, and eco-friendly consumer trends. … [Read more...]
Green light at UK motor show
July 31, 2008 By Leave a Comment
WITH petrol prices at record highs, green is the new black where vehicles are concerned. More eco-friendly, less gas-guzzling vehicles are making appearances at major motoring shows. … [Read more...]
VW takes third place from Ford
July 30, 2008 By Leave a Comment
Volkswagen has leap-frogged Ford to become the world's third largest carmaker by vehicle sales. According to figures for the first six months of the year, released by the companies in the past few days, VW increased global sales 7.2% to 3.31 million cars and trucks, while Ford sales fell 11% to 3.09 million. Ford was the world number two … [Read more...]
Car dealer finance penetration plummets
July 29, 2008 By Leave a Comment
Point of sale industry has a "weak image" Point of sale finance for new and used cars has slumped in the last decade, according to a report by Blackhorse Finance. The study, undertaken by Professor Peter Cooke from the University of Buckingham, revealed dealers’ PoS finance suffered from a weak image and was considered uncompetitive. … [Read more...]
Used car depreciation drops further
July 28, 2008 By Leave a Comment
Used car values have had the biggest fall in over three years, according to BCA.Second quarter figures saw BCA’s index showed values fell by £390 compared to quarter one, from £5,772 to £5,332. … [Read more...]
Dealer admits income tax fraud
July 27, 2008 By Leave a Comment
A Pembroke dealer is awaiting sentencing for under-declaring income tax earned from sales of used cars over three years. Just as the trial was scheduled to begin at Swansea Crown Court, Christopher Rickard, who runs Main Street Service Station in Pembroke, pleaded guilty to a single charge of being concerned in the fraudulent evasion of income … [Read more...]
SUV demand falls as fuel costs begin to bite
July 25, 2008 By Leave a Comment
High fuel prices have started to have an impact on the UK’s demand for used SUVs in the last month, sending values into decline. Yet franchised dealers contacted by AM insist they don’t plan to turn away customers with thirsty vehicles to trade-in. … [Read more...]
A happy ending…
July 24, 2008 By Leave a Comment
The story of my friend who recently divorced and had to go into the dangerous world of used car sales has come to a happy conclusion I am pleased to report, however before I tell the tale let me just recap some of the events leading up to the purchase. … [Read more...]
Carmakers issue price rise warning
July 23, 2008 By Leave a Comment
New car prices could go up as credit crunch bites Car sales are slipping as the credit crunch starts to bite and carmakers are warning that could lead to price rises. … [Read more...]
Finance: Lenders improve PPIs for buyers
July 22, 2008 By Leave a Comment
Finance companies were changing their products before the Competition Commission last month published its damning report about payment protection insurance (PPI). One proposal is banning PPIs at point of sale. … [Read more...]
Car dealer business confidence plunges
July 21, 2008 By Leave a Comment
Motor Trader Barometer highlights grave retailer concerns The economic downturn has decimated confidence in the motor retail sector in the last three months. More than three-quarters of dealers are less confident about their prospects than in March this year, according to the Motor Trader Franchised Dealer Barometer, with just 6 per cent … [Read more...]
European new car sales slide
July 18, 2008 By Leave a Comment
Volumes plummet 8.2 per cent year-on-year in June European new car sales fell 8.2 per cent year-on-year in June, according to the latest Jato figures. Volumes fell to 131,876 units as the market continued to slowdown. … [Read more...]
Volkswagen dealers rewarded for aftersales
July 17, 2008 By Leave a Comment
Ten dealers from Volkswagen UK's network are today headed to the carmaker's headquarters in Germany to receive awards in recognition of the customer satisfaction and aftersales performance. Three small, three medium and three large dealers were selected for the award, along with one standalone authorised repairer. … [Read more...]
Used car market is still top for customer complaints
July 16, 2008 By Leave a Comment
For the third year running, second-hand cars top a list of complaints received by Consumer Direct about defective goods. The consumer helpline received more than 120,000 complaints about defective products in the first six months of the year out of a total of 425,406 consumer referrals. … [Read more...]
SUV sales slide can be stopped
July 15, 2008 By Leave a Comment
Analyst claims 4x4s need to be marketed differently Car dealers and manufacturers should market SUVs differently to account for the sales threat posed by rising fuel costs and environmental concerns, according to Network Automotive. The industry consultant said dealers and carmakers should take advantage of the strong appeal 4x4s have for … [Read more...]
Estate agent offering free Range Rover with luxury flats
July 14, 2008 By Leave a Comment
A Cornish estate agent is giving away free cars with luxury flats sold on August 1, hoping to incentivise buyers in a slowing property market. Bradleys estate agents in Newquay is offering the deal to help boost sales of 150 remaining properties in a new build development on the coast. The vehicles start with a £9,000 Smart ForTwo for the … [Read more...]
A year’s jail for 25 offences of clocking
July 14, 2008 By Leave a Comment
Scunthorpe used car dealer Jason Large has been jailed for 12 months for clocking cars. Large traded as Select Motor Services and Trade Car in Moorwell Road, Scunthorpe. A two-year investigation by Trading Standards officers was prompted by a complaint by a consumer, who found his car had a mileage anomaly. Investigators subsequently … [Read more...]
Motoring costs are less than twenty years ago
July 13, 2008 By Leave a Comment
RAC report claims car ownership is cheaper than 1988 The cost of motoring has fallen by 18 per cent in real terms over the past 20 years, according to the RAC. Despite fuel prices soaring by 210 per cent during that period, and taking inflation into account, the motoring group said cars were now cheaper to own and run than in 1988. … [Read more...]
Does the Chancellor think we’re stupid?
July 11, 2008 By Leave a Comment
It’s all very well the government saying that they might let owners of older cars have some kind of temporary respite from the new 'yet another tax increase' but Motor Trade Insider asks; A) Who is going to buy these cars? B) How much are they going to lose? … [Read more...]
June registrations in line with SMMT forecast
July 11, 2008 By Leave a Comment
Diesel registrations rose 4.5% to 89,470 units taking 42.8% market share Compared with June 2007, new car market fell 6.1% to 209,190 units Overall year-to-date figures show 1.6% fall to 1,247,479 units, as forecast … [Read more...]
Car tax: How much will you pay in 2009?
July 10, 2008 By Leave a Comment
These rates apply to cars registered after 1st March 2001. The rates that apply to vehicles registered before this date relate only to engine size. Cars with engines under 1549cc will pay £120 a year, cars with engines larger than this will pay £185 a year. … [Read more...]
New road tax is changing things
July 10, 2008 By Leave a Comment
Here a couple of interesting things we've noticed that are happening as a result of the Governments propsed changes to Road Fund Licensing. … [Read more...]
Road tax increase ‘will hit 9m’
July 10, 2008 By Leave a Comment
An estimated nine million motorists will have to pay more road tax under reforms aimed at punishing gas-guzzling vehicles, the government has admitted. Official estimates say vehicle excise duty will rise for 44% of vehicles made since 2001 - by up to £245 for the most polluting ones - but will fall for 33%. The AA said the figures "confirm … [Read more...]
Renault axes 2008 sales growth target
July 9, 2008 By Leave a Comment
French brand blames "highly uncertain" economic environment Renault has dropped its 2008 sales growth target due to rising concerns over the severity of the economic crisis. Despite recording a 4.3 per cent sales rise in the first half of the year, the French carmaker has abandoned its full-year target of 10 per cent. … [Read more...]
Used buyers look for value
July 8, 2008 By Leave a Comment
But fuel prices take their toll Two thirds of used car buyers intend to purchase a car within the next six months despite soaring fuel prices and the impact of the credit crunch, a new survey by Exchange & Mart has revealed. The 1,000-strong survey also showed the remaining 35 per cent of respondents were considering making a purchase, but … [Read more...]
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