Are we seeing a return to a push market? EV discounts on the rise. Dealers concerned about EV values. Used car finance down.
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Are we seeing a return to a push market? OEM EV discounts are rising, and dealers are concerned about EV values. Used car finance is down, and Inchcape shut eight new BravoAuto supermarkets.?
Motor Trade Radio: 18 November 2023, E68, S09?
If you enjoyed this week’s Motor Trade Radio podcast, powered by eBay Motors Group, and want to explore our featured headlines more deeply, here are links to all the stories.?
HEADLINES?
MOTOR TRADE NEWS ?
Automotive sector seeing a predicted return to a ‘push’ market ??
COX Automotive believes that the latest new car registration figures strongly suggest the market has returned to a ‘push’ model – as its forecasts for this year and beyond remain on track.??
FINANCIAL TIMES ?
Carmakers step up EV discounts in bid to stem global demand slowdown ?
Carmakers in leading western markets have significantly increased the range and scale of discounts they offer on electric vehicles in a bid to counter weaker-than-expected appetite for battery models among mainstream buyers. Sales and financial data compiled by HSBC shows carmakers are, for the first time, having to offer deals on battery models in order to shift vehicles that previously had months-long waiting lists. ?
?AM ONLINE ?
Long term hit to EV values expected by many dealers ?
The government’s move to stretch the electrification deadline to 2035 for new car sales will cause long-term volatility in the prices of electric cars, many dealers fear. Nearly half of dealers (46%) think the values and prices of electric vehicles (EVs) will fall, as consumers take more time to make the switch.??
领英推荐
MOTOR TRADER ?
Consumer used car finance market falls 9% in October ?
The consumer used car finance market reported a fall in new business in September of 9% by value and 7% by volume compared with the same month in 2022. In the nine months to September 2023, new business volumes in this market were 6% lower than in the same period in 2022. ?
CAR DEALER ?
UK’s roads ‘will have a million battery-electric vehicles by February’ ?
The UK’s roads will have one million battery-electric vehicles for the first time by next February. That’s according to Cap HPI, which said that heading into October, there were almost 900,000 pure BEVs on UK roads and it now expects that figure to top a million in the next three months.??
MOTOR TRADER ?
Inchcape to shut eight Bravoauto used car supermarkets ?
Inchcape is to shut eight of its 17 Bravoauto used car supermarkets at the end of the month which are failing to make sufficient returns. Motor Trader understands that 100 staff have been issued redundancy notices as the company takes steps to ‘optimise’ the network. ?
We hope you enjoyed this week’s big car retailing stories roundup. Catch #AllTheChatterThatMatters?on the Motor Trade Radio podcast on Saturday mornings, powered by eBay Motors Group.?
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