Cost of filling up average family car shoots to £100 for first time June 9, 2022 The cost of filling up the average 55-litre family car has shot to £100 for the first time ever. According to data released today by Experian Catalist, petrol prices have reached an all-time record of 182.3p, going up by 1.6p from Tuesday, while diesel increased by 2.9p to 188.1p. Commenting on the increase, RAC fuel [...]
Used car prices remain strong but demand gradually slows down June 8, 2022 Used car prices have remained strong even though demand for second-hand vehicles is gradually slowing down. According to data from Auto Trader’s Retail Price Index, the average price of a used vehicle has grown 28.4 per cent over the last year, marking the 26th consecutive month of growth. But despite the increase, demand is gradually [...]
Cazoo cuts 750 jobs to save more than £200m by end of next year June 7, 2022 Online car retailer Cazoo has announced it will cut 15 per cent of jobs to save more than £200m until the end of next year. Under its business realignment plan, the company will axe 750 UK and EU positions, cutting vehicle preparation as well as customer support sites. Cazoo’s focus will instead be driving its [...]
“Perfect storm” for new car sales as cost of living crisis and supply issues see May figures at historic low June 6, 2022 UK new car sales fell to their second weakest May in the last thirty years as a lack of consumer confidence and supply chain chokepoints took their toll on the big-ticket purchases. Just 124,000 cars were registered in May of this year, the lowest of the last thirty years except for the pandemic-induced lows of [...]
Mercedes-Benz announces global recall of nearly one million vehicles June 5, 2022 German car maker Mercedes-Benz has announced a global recall of nearly one million older cars due to problems with their braking systems. “Mercedes-Benz AG has determined that on certain vehicles of the ML, GL, and R-Class series from the production period 2004 – 2015, the function of the brake booster might be affected by advanced [...]
Waze UK: People’s driving habits are a moving feast post-Covid June 2, 2022 The UK’s driving habits have become a “moving feast” post-Covid, said Waze UK’s managing director Ru Roberts. According to the satellite navigation software, following the easing of restrictions and the UK Governmen’t strategy for living with Covid, traffic numbers have exceeded pre-pandemic levels. “We’re now in excess of number of cars on the road,” Roberts [...]
Car production will improve this fiscal year, says battery maker Panasonic June 1, 2022 Car production is expected to improve this fiscal year, according to battery maker Panasonic. The Osaka-based giant – who makes batteries for marquees such as Tesla – said its total revenue derived from the automotive market will increase from 14 to 19 per cent, with operating profit growing by 16.6m yen (£101.9m). “We will be [...]
Lamborghini to have e-fuel powered supercars beyond 2030, says boss June 1, 2022 Lamborghini will have at least two supercars powered by e-fuels in its range beyond 2030, according to chief executive Stephan Winkelmann. The German executive told Italian newspaper ‘Il Corriere della Sera’ the entire fleet will transition to hybrid between 2023 and 2024 without losing its renowned high performance. “We want to carry on creating emotions, [...]
Car ownership numbers fall for second consecutive year in more than a century May 31, 2022 Car ownership levels have fallen for the second consecutive year in more than a century. According to data from the Society of Motor Manufacturers and Traders (SMMT), in 2021 levels fell by 0.2 per cent to 35 million units despite the number of UK vehicles growing by 0.4 per cent to 40.5 million. Covid-related market [...]
Car dealership profits up by sevenfold following post-Covid surge in demand May 30, 2022 Profits at the UK car dealerships rose by more than a sevenfold in 2021 following a post-Covid surge in demand. According to data from accountancy group UHY Hacker Young, profits went up 627 per cent, from £105m in 2019/2020 to £764m a year later. Following the end of lockdown, new car sales went up as [...]