Motor Trade Insurance
Menu

Welcome to the MTI Blog

  1. Annual Figures Reveal Small Drop In New Van Sales

    January 15, 2019 by Logan Biggs

    According to data produced by the Society of Motor Manufacturers and Traders (SMMT), there was a small fall in the number of new vans sold here in the UK in the year to 31st December 2018. This news will no doubt come as a disappointment to motor traders in particular those who operate within the sale of new and used vans. .........read more »


  2. Significant Drop In New Car Sales In 2018

    January 7, 2019 by Logan Biggs

    Unfortunately, 2018 was not a good year for the sale of new cars here in the UK when comparing the figures with the previous year. The Society of Motor Manufacturers and Traders (SMMT) has recently produced the figures and they make for disappointing reading.

    In 2018, there were 2,367,147 new cars sold here in the UK yet in 2017 there were 2,540,617. That is a drop of 173,470 with this equating to an average reduction of 14,455 per month. In percentage terms, this is a fall of 6.8%. We are sure that you will agree these figures are concerning in particular if you are a motor trader involved in the sale of new cars but it will also concern many businesses operating within the motor trade industry. .........read more »


  3. Big Drop In UK Car Manufacturing

    December 29, 2018 by Logan Biggs

    In November 2018, according to data published by the Society of Motor Manufacturers and Traders (SMMT), there was a very large fall in the number of new cars manufactured here in the UK when compared to the same month last year.

    Motor traders and others operating within the motor trade industry will be disappointed to read that last month there was a fall of 19.6% in the number of new cars built here in the UK when compared with November 2017. In November 2018 there were 129,030 new cars built yet in November 2017 there were 160,581. That is a significant drop of 31,551 that is most concerning news. .........read more »


  4. Can You Afford To Pay Annually For Your Cover?

    December 20, 2018 by Logan Biggs

    If you run your own motor trade business such as a motor trader or perhaps a mechanic or car body repair shop then you will no doubt have suitable motor trade insurance in place to provide you with suitable protection in the event of something untoward happening. This could be say a road traffic accident, a customer injuring themselves on your business premises or someone breaking into your factory and stealing your tools. .........read more »


  5. November Sees Rise In New Van Sales

    December 14, 2018 by Logan Biggs

    If you are in the motor trade then you will no doubt be pleased to read that, according to the Society of Motor Manufacturers and Traders (SMMT), there has been a rise in the number of new van sales here in the UK in November 2018 when compared with the same month last year.

    In November 2018 29,035 new vans up to 3.5 tonnes were sold whereas in November 2017 26,486 new vans were sold in that category. That is an increase of 9.6% and we are sure you will agree that is good news for the industry. .........read more »


  6. Another Reduction In New Car Sales

    December 7, 2018 by Logan Biggs

    Yet again, there has been another monthly drop in new car sales with this news no doubt disappointing those of you in the motor trade industry but in particular motor traders. Figures produced by the Society of Motor Manufacturers and Traders (SMMT) have revealed that there was a fall of 3% in the number of new cars sold when comparing November 2018 with the same month last year. .........read more »


  7. General Motors To Close Number Of Plants In USA

    November 29, 2018 by Logan Biggs

    It has recently been announced by the American vehicle manufacturing giant General Motors (GM) that it is to close a number of its plants in the USA and one in Canada resulting in the loss of in excess of 14,000 jobs. This news has not gone down well with Donald Trump the President of the United States of America.

    As a result, it is being forecast that by the end of 2020 the company will save in the region of $6 billion. That is a huge sum of money. The reason for the shut downs is due to car sales slowing down as well as rising costs. The company intends to invest more in autonomous and electric vehicles.

    The company is stopping production of a number of vehicles such as the Chevrolet Impala, Cadillac CT6 and the Buick LaCross.

    It will be interesting to see if any UK car manufacturers feel the need to cut costs by shutting plants and/or making some employees redundant. Here in the UK, as mentioned in other news articles, there has been a fall in the number of new cars sold in recent months. Let us hope that this situation soon turns around and the motor trade industry is able to provide some good news that it has been somewhat lacking in over the last few months.

    The motor trade industry here in the UK covers so many different types of businesses that are potentially affected by any drop in new car sales. For instance, the services of car valeters are sometimes used to ensure new vehicles are kept in pristine condition prior to sale. New cars need servicing periodically so mechanics are in popular demand both at dealerships and many also run their own business. Unfortunately, some cars are involved in road traffic accidents and suffer damage so car body repair shops provide a service to repair such vehicles. Cars need new parts so car parts businesses provide such things to the likes of garages.

    We will continue to keep our readers such as motor traders up to date with any significant developments should any car manufacturers in the UK decide to follow the way of General Motors.


  8. Used Car Sales Fall In Q3 2018

    November 23, 2018 by Logan Biggs

    It has possibly not been the best of years if you are a motor trader involved either in the sale of new and/or used cars. The Society of Motor Manufacturers and Traders (SMMT) has recently published figures for the number of used cars sold in the third quarter of 2018 here in the UK and they make for disappointing reading.

    In Q3 of 2018 there were 2,057,457 used cars sold bur in the same quarter of 2017 there were 2,102,078. That equates to a reduction of 2.1% that, in volumes terms, is a fall of 44,621. That is a significant fall and is something that may concern some of you in the motor trade industry.

    There was a similar pattern on a year to date basis with 6,182,547 used cars being sold in the year to date to Q3 of 2018 whereas in the same period to Q3 of 2017 there were 6,338,188 used cars sold. That equates to a reduction of 2.5% that in volumes terms is a large fall of 155,641.

    On a positive note, the number of electric, plug in hybrid and hybrid used car sales rose by almost 30,000 when comparing Q3 of 2018 with Q3 of 2017. This equated to a rise of 28.6%. There was a drop in the sale of used diesel cars of 2.6% and used petrol car sales fell by 2.3%.

    With regard to the colour of used cars sold, the most popular colour continued to be black with 431,000 changing hands. In second place was silver/aluminium with 411,924, in third place was blue with 362,096, in fourth spot was grey with 273,881 and in fifth place was white with 240,268. The colour car that fell in popularity the quickest was green in seventh place with a fall in sales of 17.1% to 51,624.

    The top five selling used cars in the UK in the third quarter of 2018 were: –

    1. Ford Fiesta 93,260
    2. Ford Focus 84,014
    3. Vauxhall Corsa 80,789
    4. Volkswagen Golf 68,614
    5. Vauxhall Astra 66,942

    The drop in the number of used cars sales not only has an impact on motor traders but may affect other areas within the motor trade industry. For instance, it could mean that there is less work for those who repair and service used vehicles.

    Let us hope that, when the figures are produced for the number of used cars sold here in the UK for the final quarter of 2018, there has been a turnaround and that, looking ahead to 2019, we see a better year.


  9. Consumer New Car Finance At Point Of Sale Figures Disappointing

    November 15, 2018 by Logan Biggs

    Some motor traders find it beneficial to offer car finance to people buying motor vehicles from them whether they are selling used and/or new cars. In doing so, it can no doubt sometimes lead to increased sales which is something that many in the motor trade will welcome especially as the number of new cars being sold recently has been falling.

    The Finance and Leasing Association (FLA) has recently produced some interesting figures relating to the volume and value of new cars bought by consumers with point of sale finance. Unfortunately, the figures make for disappointing reading.

    In September 2018, new business volumes of such finance dropped by 16% when compared with the same month in 2017. The value of such business reduced by 14% in September 2018 when compared with the same month last year. In the third quarter of 2018, the value of new business consumer car finance at point of sale fell by 4% when compared with the same period in 2017 and volume levels dropped by 6%.

    Interestingly, point of sale finance for used cars rose by 9% for value and increased by 3% for volume in September 2018 in comparison to September 2017.

    Also, on a positive note, for the nine months to September 2018, overall the consumer car finance market at point of sale saw new business volumes go up by 3%.

    There are no doubt many people who arrange car finance elsewhere such as through their bank or building society or there are many specialist online lenders providing motor finance. No doubt a lot of car buyers shop around to find suitable car finance rather than just get a quote from one lender. Having said that, there are no doubt a number of people who prefer to go along and identify a car they wish to buy and then arrange the finance to buy the vehicle through the motor trader as they cannot be bothered shopping around.


  10. October Sees Drop In New Car Sales

    November 9, 2018 by Logan Biggs

    Those of you running a business in the motor trade industry and in particular motor traders will be disappointed to read that there has been a drop in the number of new car sales in October 2018 in the UK when compared with the same month last year. That is based upon statistics published by the Society of Motor Manufacturers and Traders (SMMT).

    In October 2018, there were 153,599 new cars sold yet in the same month last year there were 158,192 – a drop of 2.9%. There were 49,061 new diesel cars sold in October of this year yet in the same month in 2017 there were 62,366 – a large fall of 21.3%. The number of petrol cars sold last month totalled 93,941 with this being a 7.1% rise on October 2017 when there were 87,720 sold. The number of AFVs sold in October this year was 10,597 compared to 8,106 in the same month last year – a significant increase of 30.7%.

    On a year to date basis to October 2018, there were 2,064,419 new cars registered with this being a fall of 7.2% in comparison to the same period last year when 2,224,603 new cars were sold. New diesel car sales on a year to date basis to October 2018 were 656,273 with this being a fall of 30.7% when compared with the same period last year when there were 946,571 new diesel cars sold. New petrol car sales in the year to date to October this year amounted to 1,286,540 with this being an increase of 9.2% when compared with the same period to last year when there were 1,178,169 new petrol cars sold. New AFV car sales in the year to date to October 2018 were 121,606 compered to 99,863 in the same period to October 2017 – a big increase amounting to 21.8%. The market share for new diesel cars fell from 42.6% (year to date to October 2017) to 31.8% (year to date to October 2018), the market share for new petrol cars rose from 53% to 62.3% for the same periods and the market share for new AFVs rose from 4.5% to 5.9% for the same periods.

    The top 5 selling new cars in October 2018 were: –

    1. Ford Fiesta 5,564
    2. Volkswagen Golf 3,765
    3. Mercedes-Benz A-Class 3,339
    4. Volkswagen Tiguan 3,297
    5. Ford Focus 3,283

    The top 5 selling new cars on a year to date basis to October 2018 were: –

    1. Ford Fiesta 84,980

    2. Volkswagen Golf 55,927 .........read more »


Mailing List

To get the latest news and offers from MTI, enter your email below.

Subscribe to the Mailing List
FacebookTwitterGoogle PlusLinked In