Ongoing supply constraints dampen 2022 sales forecast
The worldwide semiconductor shortage continues to drag down the market, with global geopolitical issues threatening to undermine both supply and demand in the coming months.
March sales drop to lowest level since 1998
Economic headwinds such as rising energy costs, fuel costs, inflation and a squeeze on household incomes could impact new vehicle demand. With grants for BEVs ongoing until at least next March, however, interest rates still low and electric cars benefiting from lower running costs, there are significant benefits for drivers who can order new vehicles now.
Car registrations up but remain below pre-pandemic levels
A rise of 7,682 units was in comparison with the same month in 2021, when the pandemic shut car showrooms across the UK. Despite this positive performance, registrations are down 25.9% on pre-pandemic levels, as vehicle supply remains constrained by semiconductor shortages, according to the latest figures from the SMMT.
Agency and derivative models to disrupt traditional franchised retail models
THE distribution and retailing of vehicles, otherwise known as the auto-downstream industry, is set to change as much in the next five years as it has in the last 50. That’s the view of both Cox Automotive and Grant Thornton in the latest issue of Cox Automotive’s AutoFocus report. According to Philip Nothard, Insight and Strategy Director at Cox Automotive, [...]
Used car market grew in 2021 as consumer demand remained buoyant
Last year saw a strong Q2 with 2.1 million transactions, while the market declined moderately by 3.1% in Q4. Demand for battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEVs) rose significantly by 119.2% and 75.6% to 40,228 and 56,861 transactions respectively. Transactions of used petrol (+10.7%) and diesel (9.8%) grew to a total of 7,277,291 units, equating to 96.6% of all used car sales.
New car sales get a January boost from EV sales
Growth was driven by private buyers, as manufacturers sought to prioritise these customers given the supply constraints, with this segment of the market registering 62,300 new cars, up 64.1%, year on year – and just 5.6% off pre-pandemic levels. Large fleet registrations, meanwhile, remained broadly flat with last year at 50,817 units (down 0.4%)
EVs the bright spot in another disappointing sales year
The overall new car market was down 28.7% down from pre-pandemic levels according to figures released by the SMMT. The figures showed 2021’s new car registrations were 1.0% above 2020’s sales but remained below pre-pandemic levels by 28.7%; a total of 1.65 million units were registered.
November new car registrations show slight uptick
Year-to-date, 1,538,585 new cars have been registered, of which 17.5% have been BEVs or PHEVs, meaning one in six new cars is capable of being plugged in. When combined with hybrid electric vehicles (9.0% share), more than a quarter (26.5%) of the new car market during 2021 has been electrified.
Demand for used plug-in models surges
DEMAND for used battery electric (BEV) and plug-in hybrid (PHEV) vehicles continued to grow in Q3, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). Reflecting recent trends in both the new and used markets, transactions rose by 56.4% and 43.3% to 14,182 and 14,990 respectively. Indeed, the number of used BEVs that changed hands [...]
Registrations down again despite PHEV boost
Plug-in vehicles now account for 16.6% of all new car registrations in 2021, which, when joined by a further 9.1% from hybrid electric vehicles means that 25.7%, or more than a quarter of the new car market, has been electrified year-to-date.