According to Startline Motor Finance that provides finance for motor vehicles, it would appear that the average amount paid by motorists to purchase a used car has been increasing in the pandemic. This will no doubt be of interest to motor traders who are involved in the buying and selling of second hand cars.
Posts within the 'Motor Trade' Category
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Are Used Car Prices Increasing?
July 19, 2021 by mti
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New Car Registrations Increase In 6 Months To June 2021
July 5, 2021 by mtiThose of you running a motor trade business will hopefully have seen an increase in the number of new cars being sold in the last few weeks in the UK. Hopefully, there will also have been a rise in the number of used cars sold.
Recent figures produced by the Society of Motor Manufacturers and Traders (SMMT) have revealed that there has been a jump in the number of new cars registered here in the UK for the 6 months ending 30 June 2021 when compared with the same period last year.
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Engine Production Increases In April and Van Sales Rise In May
June 19, 2021 by mtiIt will probably not come as a surprise for those of you involved in the motor trade industry to read that engine manufacturing in the UK in April 2021 increased in comparison to the same month last year and new van sales increased in May 2021 when compared with May 2020. The increase is mainly due to the fact that in those months last year we were in the forefront of the pandemic.
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Engine Production Increases In April and Van Sales Rise In May
June 15, 2021 by mtiIt will probably not come as a surprise for those of you involved in the motor trade industry to read that engine manufacturing in the UK in April 2021 increased in comparison to the same month last year and new van sales increased in May 2021 when compared with May 2020. The increase is mainly due to the fact that in those months last year we were in the forefront of the pandemic.
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May Sees Increase In New Car Sales
June 6, 2021 by mtiIn May last year the UK was in the throes of the pandemic with many retail outlets closed. As a result, the number of new cars bought in that month was very low so it is not surprising to read that May 2021 has seen a significant increase in the number of new cars being registered.
According to figures produced by the Society of Motor Manufacturers and Traders (SMMT), in May 2020 the number of new cars sold amounted to 20,247 whereas in May 2021 the figure was 156,737. That is an increase of 136,490 with that equating to a huge rise of 674.1%.
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Used Car Sales Fall In Q1 2021
May 18, 2021 by mtiMotor traders will be disappointed to read that the number of second hand car sales in the UK dropped in the first quarter of 2021 in comparison to the same period in 2020 according to data published by the Society of Motor Manufacturers and Traders (SMMT).
In the first quarter of 2021, the number of used cars sold here in the UK amounted to 1,687,755 whereas in the first quarter of 2020 the figure was 1,851,919. That is a reduction of 164,164 with this equating to a drop of 8.9%. We are sure that our readers will agree that is a significant fall.
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March 2021 Sees Increase In New Car Registrations
May 4, 2021 by mtiUnfortunately, probably due primarily to the pandemic, we have not been able to report anything positive in respect of the motor trade industry for many weeks. So, motor traders will be pleased to read that March 2021 saw an increase in the number of new cars sold here in the UK according to data published by the Society of Motor Manufacturers and Traders (SMMT).
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Cost Of Car Insurance Drops In Q1 2021
April 16, 2021 by mtiMotor traders will be interested to read that the cost of insuring a car has fallen in the first quarter of 2021 according to MoneySuperMarket.com that is a very well-known price comparison website.
Apparently, figures published by MoneySuperMarket.com reveal that the average price paid by motorists for fully comprehensive car insurance fell from around £485 per annum in the first quarter of 2020 to around £417 per annum in the first quarter of 2021. That is a reduction of £68 per annum that equates to a fall of 14% per annum.
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February Sees Fall In UK Car & Commercial Vehicle Production
April 2, 2021 by mtiRegrettably, there was more bad news for the motor trade industry with the announcement that both car production and commercial vehicle production in the UK dropped in February 2021 according to figures published by the Society of Motor Manufacturers and Traders (SMMT).
In February 2021, the number of new cars built in the UK amounted to 105,008 compared to 122,171 in February 2020. That is a large drop of 17,163 that equates to a fall of 14.0%. The number of new cars manufactured for the home market in February this year totalled 17,689 whereas in February last year the figure was 27,169. That is a drop of 9,480 that equates to a reduction of 34.9%. The number of new cars built for the export market in February 2021 amounted to 87,319 whereas in February 2020 the figure was 95,002. That is a fall of 7,683 that equates to a drop of 8.1%. In February 2021, the overseas market accounted for 83.2% of new cars built whereas in February 2020 the figure was 77,8%.
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Drop In Engine Production And New Car Registrations
March 19, 2021 by mtiEngine Production
Those operating in the motor trade industry will be disappointed to read that the number of vehicle engines built in the UK in January 2021 fell when compared with the same month last year. This was the 13th month in a row that this sector of the motor trade industry has dropped according to the Society of Motor Manufacturers and Traders (SMMT).
