sales

UK car sales fall to lowest level since 1992

By Jaime E. Love 2 weeks ago
<p>The industry suffered a total turnover loss of more than £20bn last year, a trade body has said</p>

The industry suffered a total turnover loss of more than £20bn last year, a trade body has said

The number of new cars sold in the UK last year fell by almost a third amid the coronavirus crisis and uncertainty over Brexit, figures show.

New car registrations dropped to just over 1.6 million, according to the Society of Motor Manufacturers and Traders (SMMT), which warned of a “rocky” few months ahead.

The trade organisation said a 10.9 per cent decline in December wrapped up a “turbulent” 12 months, which saw demand fall by 680,076 units to the lowest level of registrations since 1992.

New car sales fell by around 29 per cent on 2019, the biggest year-on-year decline since 1943.

The SMMT said that against a backdrop of Covid restrictions, an acceleration of the end of sale date for petrol and diesel cars to 2030, and Brexit

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Car sales slump to 20-year September low despite new reg plates

By Jaime E. Love 4 months ago

Mike Hawes, SMMT chief executive, said: “During a torrid year, the automotive industry has demonstrated incredible resilience, but this is not a recovery. Despite the boost of a new registration plate, new model introductions and attractive offers, this is still the poorest September since the two-plate system was introduced in 1999.

“Unless the pandemic is controlled and economy-wide consumer and business confidence rebuilt, the short-term future looks very challenging indeed.”

However, the decline is not entirely down to motorists reining in their spending, according to trade group the National Franchised Dealers Association.

It said that dealers had experienced “strong” demand with “high levels of enquiries”, but supply problems had held back a number of manufacturers so they had been unable to get cars to buyers.

Sales of cars to private motorists, which represent roughly half of the total, were down 1.1pc in the month, while those to fleet buyers such

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Buy a New Car During End-of-Summer Sales?

By Jaime E. Love 4 months ago

Consumer Reports has no financial relationship with advertisers on this site.

The number of car ads accelerates to a frenzy as summer fades into fall because dealerships need to make room for the newest model year vehicles. Big rebates and low-interest financing offers can tempt shoppers to make a quick deal for a leftover 2020 car, but there are a few key points that shoppers should consider before buying one.

“The fall is always an exciting time in the automotive world, with brand-new models arriving at dealerships and outgoing cars on big discount,” says Todd Young, automotive pricing analyst at Consumer Reports. “This is an unusual year, with prices all over the map. It is key to study the offers and base purchase decisions on a long-term view.”

The easy savings on marked-down 2020 models may seem tempting, but the cars are technically already a year old once 2021 models

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Automotive industry rebound falters in August as sales slip

By Jaime E. Love 5 months ago

The U.S. auto industry took yet another tumble in August. Those manufacturers who still announce their sales figures at the end of each month reported declines pretty much across the board. Per industry analysts, transaction prices slipped slightly in August compared to July as well, despite a nearly 4-percent increase over last year’s average. There were two fewer selling days in August this year, contributing to reported declines. 

Toyota on Tuesday reported a 23% drop in U.S. new vehicle sales in August versus the same month in 2019, as a two-month industry-wide shutdown of auto production in the spring to halt the spread of COVID-19, as well as an uncertain economic recovery, weighed on sales. This was Toyota’s fifth straight month of U.S. sales declines.” data-reactid=”21″Toyota on Tuesday reported a 23% drop in U.S. new vehicle sales in August versus the same month in 2019, as a two-month industry-wide

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