Used Car Values On The Down

used car sales have been progressively falling by 2.5 per cent to £6,640 in June, according to research by Manheim Remarketing. In their latest Study they found that car sales had fallen for the third consecutive month. The fleet sector fell by 2.5 per cent (£155) to £6,100, while manufacturer stock values fell by 3.0 per cent (£346) to £11,279. Dealer part-exchange values increased slightly by 0.9 per cent (£21) to £2,327. When compared with June 2010, with average age up by just one month to 52 months and mileage up by 3,265 miles to 54,161 miles, average wholesale used car values are 4.8 per cent (£338) lower. Dealer part-exchange values increased by 0.9 per cent to £2,327. When compared with June 2010, with average age up by just one month to 52 months and mileage up by 3,265 miles to 54,161 miles, average wholesale used car values are 4.8…

Used car values fall 4.4 per cent in 2010

Average wholesale used car values fell by 4.4 per cent in 2010 compared with 2009, according to Manheim Remarketing. The average age of vehicles increased by three months to 51 months and average mileage also rose, up 4,009 to 53,605 miles. The fleet sector experienced the biggest decrease in 2010 as average values fell by 7.2 per cent while manufacturer stock fell just 1.1 per cent. Dealer part exchange prices actually rose by 5.5 per cent. In December average wholesale used car values fell 4.1 per cent to £6,569 following two months of increases. However the overall fall in values couldn’t dampen the demand for 4x4s where values increased in both the Dealer and Manufacturer sectors. Manheim Remarketing managing director Mike Pilkington said: “After a dramatic rebound in values during 2009, it was perhaps inevitable that with the continued economic uncertainty there would be…

Affordable electric cars are five years away

The car industry will be unable to offer an ‘affordable’ electric vehicle without government subsidies until after 2015. Over half of the 200 auto executives polled in a KPMG 2011 Global Automotive Executive Survey said without state subsidies electric vehicles as affordable as traditional fuel vehicles were five years away. Over four in 10 car executives expect government subsidies to tail-off with only a quarter expecting them to increase. Mike Steventon, automotive partner at KPMG in the UK, said: “One factor is common worldwide: the need to continue to develop the technology that will produce efficient, affordable electric vehicles. “Even though the industry is still in recovery mode, the pace of technical leadership intensifies.” Investment in new power train technologies such as hybrid and all electric remains a key priority for 93 percent of auto executives, it found. Over seven in 10 auto executives…

Porsche has highest repair costs – SURVEY

Porsche has the highest average repair cost in the UK, according to a just-published reliability survey. The average cost of repair for its cars is £717.36 while Mazda has the second-highest average garage bill of £481.26 followed closely by Audi with £478 average repair costs. The least expensive brand was Renault with an average repair cost of £226, followed by Fiat on £237 and Smart on £251, according to a What Car? and Warranty Direct annual car reliability study. Warranty Direct managing director, Duncan McClure Fisher, said: “When buying a car, certain factors loom larger in your mind than others. For the majority of drivers, how much they can trust that car to get them from A to B is most important. “Car manufacturers are constantly making great strides in building more reliable vehicles, so this survey is not a reflection on new cars coming out now…

Top 10 Cars of the Decade

Well it’s time for me to announce my top ten cars of the decade. I have tried to minimise the number of very expensive cars in this list, mainly because normal people like me can’t afford them. Some do have to get in the list though, I have allowed for cost to act as a pro and con when weighing up the cars position in the chart. 10. Rolls Royce Phantom – When Rolls Royce was taken over by Ze Germans, I though ‘oh no it can’t be true’. I never considered it would be a marriage made in heaven. The Rolls has kept its feel of total luxury and with it comes total quality. A blend of German efficiency and British brilliance, that has produced the best luxury car ever. 09. BMW Mini – The original Mini is a cult British classic and…

Government Extend Scrappage Scheme

The scrappage scheme will be extended to another 100,000 vehicles; the scheme has been changed slightly. It now includes funds for vans eight years and older, instead of the original ten year and over scheme. The new extension was announced by Lord Mandelson at the Labour conference right here in sunny Brighton.

Scrappage Scheme: Good or Bad?

Many dealers are calling for the extension of the scrappage scheme, as they fear that sales will fall off when it ends. Managing director Tony Whitehorn of Hyundai UK speaking to Motor Trader said “The money is two-thirds gone and at the current rate it will be gone by the end of October. If it comes to a sudden halt we will see car sales across the industry fall off a cliff. We need the government to start thinking now about what comes next,” said Mr Whitehorn. “The industry needs a soft landing, hopefully that will be through some sort of extension of the current scheme and then a gradual tapering off. The scheme has to end at some point, we all understand that, but it needs to be a gradual landing.” While Whitehorn admits that his company has been one of the biggest…

Ford calls for extension of scrappage scheme

Ford has called for a continuation of the scrappage scheme beyond the £330m funding limit imposed by the government. Speaking exclusively to Motor Trader, Ford of Britain managing director Nigel Sharpe said the following: Sorn vehicles Sharp said Ford would like to see some form of continuation and it would also like Sorn vehicles to be included in the scheme. Sharp said any additional help now would ease the pain of what looks set to be an equally tough 2010. “Next year we’ll potentially have a market without scrappage, a VAT increase, probably an environment where interest rates will track upwards and the cumulative effect of the pound being worth 25 per cent less than it was 18 months ago coming through in greater prices. Scrappage extension “Add all those things together and you could see a reduced level of demand so an extension…

PREV NEXT 1 2 6 7 8