auto EMEA

New car market growth continues despite declining private demand

May 07, 2024: UK new car registrations grew for the 21st consecutive month in April, rising by a modest 1.0% to reach 134,274 units, according to the latest data published by the Society of Motor Manufacturers and Traders (SMMT). As a result, this was the marke...

Toyota Kreditbank expands financial offering for dealers

May 03, 2024: Toyota Kreditbank has further expanded its white label financial solutions by partnering with Wahl Finance and Flegel Finance. In 2018, Toyota Kreditbank GmbH (TKG) introduced a white label solution, empowering dealerships to establish their own f...

EVs stayed in stock almost half the time as ICE models reveals Q1 insight from MotoNovo Finance

May 02, 2024: MotoNovo Finance’s Q1 Used Inventory Insight report reveals that while battery electric vehicles (BEVs) were in stock for an average of 32 days, ICE models were stocked for 59 days. This perhaps surprising reality is one of the key findings from M...

Government’s EV incentives undermine market

May 01, 2024: The government’s approach to encouraging wider take-up of EVs is failing in its objective of stimulating consumer demand, according to politicians, senior industry executives and analysts, amid warnings that if current policies are not revised, the...

Charged with positivity – but new market remains far from ‘normal’

Apr 30, 2024: A strong start to the UK’s new car market in 2024 has brought with it reasons for caution, according to Cox Automotive’s new periodical, Insight Quarterly (IQ). Positivity stems primarily from the relatively healthy start to the year for new car r...

Automotive “reverting to type” in a bid to face down EV challenges

Mar 25, 2024: Manufacturers and dealers alike have reacted to recent industry shifts by focusing more on simply selling vehicles, according to Regit’s Chris Green. The digital garage’s Founder and CEO spoke about recent attitudes to EV adoption from the perspec...

Boost for drivers as government delivers millions for EV chargepoints

Mar 21, 2024: Electric vehicle (EV) drivers without driveways or dedicated parking spaces can access the Government’s electric vehicle charge point grant for the first time. The Government has announced that the £350 grant will be widened to those who own or re...

Fuel-type forecast highlights radical change for UK car market

Mar 13, 2024: The UK car market is set to undergo a radical change by 2028 according to the latest Cox Automotive new and used car market forecast. A dramatic decline in new diesel cars and a reduction in petrol registrations will have a profound impact on the u...

New car market records best February for 20 years

Mar 05, 2024: The UK new car market has recorded its best February performance for two decades as registrations rose 14.0% to 84,886 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). It was the 19th month of cons...

Rightcharge collaborates with Mercedes-Benz Vans in the UK

Mar 05, 2024: EV charging software company Rightcharge has joined forces with Mercedes-Benz Vans in the UK to help make it more affordable and accessible for businesses looking to operate and charge electric vehicles. Rightcharge provides electric van drivers w...

Car industry urges ‘fair tax for a fair transition’ to put EVs back in the fast lane

Mar 04, 2024: The automotive industry is calling for the Chancellor to use the upcoming Budget to put the UK’s shift to electric vehicles (EVs) back in the fast lane, with fair taxes for a fairer transition. New research commissioned by the Society of Motor Man...

Stellantis reports record full-year 2023 results

Feb 15, 2024: Stellantis N.V. has today reported record full-year 2023 results. Net revenues grew 6% y-o-y to €189.5 billion, net profit rose 11% to €18.6 billion, and industrial free cash flows increased 19% y-o-y to €12.9 billion. Global battery electric vehi...

Ayvens reports FY2023 results

Feb 09, 2024: Ayvens has reported a 22% fall in pre-tax profit, down from €1.66 billion in FY2022 to €1.29 billion in FY 2023. The global mobility brand, Ayvens, was unveiled in October 2023 following the €4.8bn acquisition of LeasePlan by ALD Automotive. Ayve...

UK reaches million EV milestone as new car market grows

Feb 05, 2024: Britain’s millionth battery electric car (BEV) reached the road in January 2024, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), while the new car market grew 8.2% for the month, continuing to be driven b...

ZEV new car mandate could put used car market on a knife edge, reports INDICATA

Jan 25, 2024: The Zero Emission Vehicle (ZEV) new car mandate risks damaging the used market as OEMS look to meet their zero emissions new car targets in 2024, according to INDICATA UK. New and nearly new EVs are being aggressively pushed into the market at the...

Used EVs prices given a welcome boost as market realigns in Q4, reports Aston Barclay

Jan 24, 2024: The shortage of new sub-£25,000 electric cars gave the used EV sector a welcome boost in Q4, according to Aston Barclay. In Q4, used EVs rose in price by 6.4% to £21,707 after five consecutive quarterly price falls and, just as every other, EVs we...

Price war looms as China readies charge into UK electric car market

Jan 24, 2024: Buyers can expect to benefit from a price war in the electric car market in 2024 as manufacturers fight for market share amidst new government mandated targets and new Chinese competitors, according to Auto Trader’s latest (and renamed) Road to 203...

moDel sees 1m vehicle handovers in record year

Jan 17, 2024: moDel, the vehicle movement solution from Ebbon Automotive, part of Ebbon Group, which is used throughout the motor industry to electronically process vehicle deliveries and collections, has broken through the 1 million vehicle handover barrier for...

Stellantis signs agreement with rental firm SIXT to deliver 250,000 vehicles

Jan 17, 2024: Vehicle rental company SIXT and automaker Stellantis have struck a multi-billion euro agreement under which SIXT could buy up to 250,000 vehicles. The vehicles will be deployed in rental fleets across Europe and North America over the next three y...

Continuing EV sector volatility brings challenges for the used car market in 2024

Jan 17, 2024: Cox Automotive anticipates challenges and continued volatility in 2024 for the used EV market despite rapid growth in used vehicle volumes, due to persistently low consumer demand. Several continuing trends, including the realignment of vehicle va...

FCA probes motor finance firms’ failure to adhere to commission rules

Jan 11, 2024: UPDATED: The Financial Conduct Authority (FCA) has today hit out at car finance companies who have failed to adhere to the rules introduced on discretionary commission arrangements in 2021. In a statement today, the regulator said that it would “r...

New car market delivers best year since 2019 as fleets fuel growth

Jan 05, 2024: The UK new car market has recorded its best year since the pandemic as a strong December, up 9.8%, wrapped up the 17th month of consecutive growth. 1.903 million new cars reached the road during 2023 – an increase of 17.9%, according to the latest ...

Global Vans and XLCR join forces to create new van and car leasing giant

Jan 03, 2024: Global Vans and XLCR Vehicle Leasing have joined forces to become a ‘super broker’ in the van and car leasing market. Both businesses will continue to have the same management and retain their individual brands and identities. ...

Tariffs on electric vehicles avoided as UK and EU extend trade rules

Dec 22, 2023: The UK and EU have agreed to extend trade rules on electric vehicles (EVs) until the end of 2026. This agreement facilitates UK-EU tariff-free trade in electric vehicles and prevents 10% tariffs being levied on this trade from January. It is ...

Financial Ombudsman Service moves to introduce fees for claims management companies

Dec 21, 2023: Complaints to the Financial Ombudsman Service (FoS) about motor finance more than doubled in the three months to September. The increase was primarily driven by professional representatives, sometimes known as claims management companies. However, ...

SsangYong Motors UK announce new financial partnership with CA Auto Finance

Dec 19, 2023: Ssangyong Motors UK has announced a new financial partnership with CA Auto Finance, the UK entity of the international CA Auto Bank group. Following a competitive consultation process, SsangYong selected CA Auto Finance, a leader in vehicle financ...

Cost-of-living growing in concern for motor dealers

Dec 13, 2023: The cost-of-living crisis is going to be the biggest challenge for dealers to navigate in 2024, according to Close Brothers Motor Finance’s Forecourt Foresight research. The research, which surveys 200 motor dealers across the UK, found that the c...

Stellantis and Ample establish partnership to leverage battery swapping solution

Dec 07, 2023: Stellantis and Ample have signed a binding agreement to establish a partnership in electric vehicle (EV) battery charging technology capable of delivering a fully charged electric vehicle battery in less than five minutes. The two partners have ag...

UK automotive industry welcomes plan to extend EV trade rules

Dec 07, 2023: The UK automotive industry has welcomed the European Commission’s proposal to extend the current ‘rules of origin’ for electric vehicle batteries under the Trade Cooperation Agreement (TCA) until 2027. The tariff exemptions, which were agreed as p...

Fleets fuel new car market registering over 75% of new BEVs

Dec 05, 2023: The UK new car market grew by 9.5% in November to reach 156,525 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). In the market’s best November for four years, registrations almost returned to pre-pa...

OEM pushbacks suggest agency model is a work in progress

Dec 05, 2023: Automotive veteran Dale Wyatt has reiterated his opposition to the agency model and what he sees as the negative impact it could have on the industry amid claims that several manufacturers are pushing back on a UK rollout. The Director of Suzuki, ...

Public EV charging cannot support growing fleet, new Siemens Financial Services study finds

Nov 23, 2023: Siemens Financial Services (SFS) has released a new insight paper estimating current density of public EV chargers across a number of countries and regions. Density is calculated both as a proportion of the electric vehicle ‘fleet’ (number of publ...

Six in ten car dealers call for government support at the Autumn Statement

Nov 16, 2023: Ahead of the Government’s Autumn statement, motor dealers have outlined the support they need. Six in ten (61%) dealers say they need help with rising costs, according to Close Brothers Motor Finance’s Forecourt Foresight research. ...

UK automotive sector seeing a predicted return to a ‘push’ market

Nov 13, 2023: Cox Automotive believes that the latest new car registration figures strongly suggest the market has returned to a ‘push’ model – as its forecasts for this year and beyond remain on track. As we head into the final weeks of the year, Cox Automotiv...

Ayvens reaches half-a-million EVs on the road

Nov 08, 2023: Ayvens has reached a historical milestone of half-a-million funded electric vehicles (EV) confirming its position as the largest multi-brand EV fleet worldwide. As disclosed in its third quarter and nine months 2023 results, Ayven EV penetration r...

October new car market beats pre-pandemic levels driven by large fleet registrations

Nov 06, 2023: October’s new car market grew by 14.3% to reach 153,529 registrations, 7.2% above pre-pandemic levels and marking the best performance for the month since 2018, according to the latest figures from the Society of Motor Manufacturers and Traders (SM...

Allica Bank launches £10m EV fund dedicated to supporting businesses go electric

Nov 06, 2023: Allica Bank has launched a new £10m fund to support businesses with the purchase of electric vehicles (EVs), part of a wider initiative to help businesses reduce their carbon footprint and achieve sustainability targets. The new fund has been intr...

UK car manufacturing grew by 40% in September

Oct 26, 2023: UK car manufacturing rose by 39.8% in September with 88,230 vehicles leaving British factory lines – 25,105 more than the same month last year, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT)...

Cox Automotive’s latest Report makes bold predictions for 2024’s new and used markets

Oct 26, 2023: Automotive services provider, Cox Automotive, today unveils a wealth of industry data and understanding with their 2023/24 Insight Report, produced in collaboration with Grant Thornton. The Report includes forecasts for the UK’s new vehicle sector...

Stellantis resets China strategy with €1.5bn stake in EV maker Leapmotor

Oct 26, 2023: Stellantis N.V. and Leapmotor have announced that Stellantis plans to invest ca. €1.5 billion to acquire approximately 20% of Leapmotor, making Stellantis a significant shareholder. The deal also outlines the formation of Leapmotor International, ...

Young drivers priced out of EV market, says Fleet Evolution

Oct 25, 2023: Young drivers are being priced out of the EV market due to insurers’ outdated attitudes, lower salaries and high front-end prices of vehicles, rather than being encouraged, as the EV drivers of the future, to join in the electric revolution. ...

EV drivers charge ahead with increasing savings

Oct 23, 2023: With the wholesale price of electricity falling in the UK, alongside the rising cost of petrol at the pumps, EV drivers are enjoying saving hundreds of pounds per year compared to drivers of conventional vehicles. In a recent nationwide survey of ...

Leasing giants called out for weak climate leadership and low ambition on EVs in the EU

Oct 20, 2023: A new report by Transport & Environment is calling upon Europe’s biggest leasing companies to stop leasing fossil fuel cars by 2028. Europe’s top seven leasing companies are not the green leaders they claim to be, a new study by Transport &...

The state of the EV market: What you need to know in 2023

Oct 20, 2023: In the ever-evolving landscape of the automotive industry, the electric vehicle (EV) market stands out as a beacon of innovation and progress. As we delve into 2023, it's imperative for asset finance professionals to understand the current state of...

Agreement with Europe needed to avoid electric vehicle tax hike

Oct 18, 2023: The Society of Motor Manufacturers and Traders (SMMT) is today urging the EU and UK to strike an immediate agreement to avoid damaging Brexit tariffs on electrified vehicles. The plea, echoed by the EU auto sector, is to delay the implementation of...

BMW Group to launch direct sales model across Europe

Oct 18, 2023: 2024 will see the BMW Group launch the rollout of its new sales model. It will be introduced across Europe in several stages, starting with MINI in Italy, Poland and Sweden on 1st January 2024. The remaining European countries will gradually follow...

Dealer worries over agency model almost doubled in last month, new research shows

Oct 17, 2023: Dealer worries over the growth of agency agreements have doubled in the last month, according to October’s new Startline Used Car Tracker. The factor was named as a future challenge to their business by just 22% of used car retailers in September ...

ZEEKR and BNP Paribas Mobility partner for electric mobility financing in Europe

Oct 12, 2023: BNP Paribas Personal Finance and Arval have signed a pan-European partnership agreement with the luxury automotive manufacturer ZEEKR. This collaboration will take advantage of ZEEKR's innovative positioning in the electric vehicles market, combin...

September new car market grows driven by fleet registrations

Oct 06, 2023: The UK new car market grew 21.0% in September with 272,610 registrations in the month, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The 14th consecutive month of growth was also the second busiest of t...

Newable completes acquisition of vehicle leasing business Synergy Automotive Limited

Oct 05, 2023: Newable, provider of money, advice, and space to SMEs, has completed the full acquisition of Harrogate-based Synergy Automotive Limited, which trades as Synergy Car Leasing. ThinCats, a highly successful alternative finance provider to mid-sized S...

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