New car market in UK up 2.6 per cent in 2024, figures reveal Transport and infrastructure The UK’s new car market recorded its second successive year of growth with a 2.6 per cent rise in registrations in 2024, new figures show. Industry body the Society of Motor Manufacturers and Traders (SMMT) said around 1,953,000 new cars were registered last year, compared with 1,903,000 in 2023. Growth was delivered entirely by purchases [...]
Cinch sales drop below £1bn after ‘rapidly falling’ used car prices Retail Sales are car retailer Cinch dipped below £1bn after the company was hit by “rapidly falling” used vehicle prices. For the 12 months to 31 March, 2024, the Hampshire-based firm posted a revenue of £932.5m, down from the £1.01bn it achieved in the prior year. Newly-filed accounts with Companies House also show that its pre-tax [...]
Met Police fail to solve 90 per cent of London car thefts, figures reveal Politics The Met Police have failed to solve 90 per cent of car thefts in London, according to new figures branded as “staggeringly high”. Data released by the Home Office showed the capital’s police force categorised 90.2 per cent of car thefts that took place in the four months to June 2024 as “unsolved cases”. The [...]
Honda and Nissan merger talks spark UK job fears December 18, 2024 Experts say the UK's unfavourable tax environment and declining automotive sector put it at greater risk as the industry consolidates.
Tax expert: Bernie Ecclestone may face ‘sizeable’ tax bill over luxury car sale December 3, 2024 Bernie Ecclestone is set to sell 69 cars from his luxury collection believed to be worth more than £250m, but he may face a tax bill warned a tax adviser
Jaguar: First look at electric car revealed following rebrand backlash December 3, 2024 Jaguar has revealed the first look at its new luxury electric car following a backlash over its recent rebranding. The iconic Britich carmaker sparked criticism last month after switching up its logo to ‘JaGUar’ and launching an ad which included slogans such as “delete ordinary” and “copy nothing.” The move led to accusations Jaguar was [...]
Webuyanycar sales plunge by £1bn after slide in used car prices December 2, 2024 Sales at Webuyanycar plunged by almost £1bn in its latest financial year as a sharp fall in the value of used cars hit the motor marketplace, it has been revealed. The company, which is owned by Constellation Automotive, has reported a revenue of £2.57bn for the year to 31 March, 2024, according to newly-filed accounts [...]
Why UK petrol and diesel prices are still sky high despite recent fall November 28, 2024 The price of petrol and diesel in the UK fell between June and October 2024 but the margin retailers are making from each visit to the pump has surged. According to new figures from the Competition and Markets Authority (CMA) fuel prices decreased in the period because, in part, of the changing crude oil prices [...]
Why ‘radical’ Jaguar rebrand is following in Apple’s footsteps November 22, 2024 Jaguar’s controversial rebrand has not been far from the headlines in the last few days, with online commentators slating the move as a “disaster”. The criticism came after the British manufacturer, which is part of the wider Jaguar Land Rover group, unveiled marketing slogans such as “delete ordinary”, “live vivid” and “copy nothing” earlier this [...]
Cyber attack dents profit at Arnold Clark as sales near £5bn November 19, 2024 Sales at car dealership giant Arnold Clark edged closer to the £5bn mark but the aftermath of a cyber attack and rising costs contributing to a significant cut to its profit. The Glasgow-headquartered group has reported a revenue of £4.96bn for 2023, newly-filed accounts with Companies House have revealed. The latest total comes after Arnold [...]