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In the ever-evolving world of motor trade, recent data from Auto Trader, a leading light in motor trade news, has revealed some fascinating trends that could help dealers sell more cars. Despite the traditional lull, consumer demand and transactions remain buoyant, painting an optimistic picture for the industry. The latest figures, as of November 15, indicate a slight 1% dip in the average price of used cars month-on-month. However, it's not all about price drops; cars over five years old have seen a price increase of 2.2% year-on-year, and those over a decade old have jumped a notable 8.4%. This divergence is largely attributed to an increased supply of younger cars, causing their prices to decline by 4.5%, leading to an overall annual price decrease of 2.3%. Consumer demand, however, remains undeterred, rising for all car segments, age groups, and fuel types - a robust 6.9% higher compared to the same period last year. This demand, coupled with a more modest 3.2% rise in su...

In a significant development in the motor trade news, eBay Motors Group, the sponsor of the prestigious Used Car Awards, has undergone a transformation. It has now rebranded itself simply as 'Motors.' This rebranding marks the convergence of the eBay Motors Group, catering to both new and used car dealers, and the consumer-focused Motors.co.uk into a unified entity. Despite this change, car dealers will continue to benefit from multi-site advertising options on eBay and Gumtree, with no immediate modifications to their advertising packages. One notable change is the shedding of the '. co.uk ' branding by the Motors website, which had been its identity for the past 15 years. It has now emerged with a fresh green-themed identity. Furthermore, an all-new Motors mobile app is set to make its debut early next year. Barry Judge, the Chief Executive of Motors, explained the rationale behind this transformation: "The dynamics of the car-buying and selling market hav...

In a recent interview with Car Dealer Podcast, motoring industry expert Phil Nothard, who serves as the insight director at Cox Automotive, the owners of Manheim Auctions, discussed the surprising drop in used car prices and its impact on the motor trade industry. This development, as reported by Car Dealer Magazine, has sent "waves across the sector" and presents both challenges and opportunities for car dealers. According to Nothard, used car prices have fallen by a significant 13.7% since April, with expectations of further drops, around 4%, in November. This downturn in prices has coincided with an increase in used car supply, leading to a more challenging market environment, particularly for cars priced above £6,000. Despite this, there are still pockets of strength in the market, notably in the sub-£6k category. Nothard expressed concern about the uncertainty surrounding the continued decline in used car prices, with some dealers implementing "buying bans...

In exciting motor trade news, Nissan has made a significant announcement that is set to bolster the UK automotive industry. The renowned Japanese automaker is gearing up to produce two new electric vehicle models, electrified versions of the popular Juke and Qashqai, at its Sunderland plant. This decision, welcomed by the government, comes with a staggering investment of £1.12 billion, aimed at safeguarding the employment of 6,000 workers at the northeast England facility. This substantial investment is not only a boost to Nissan but also a boon to the UK economy. The government's plans include broader investments in infrastructure projects and the supply chain, with the construction of a new gigafactory dedicated to battery production, spelling out a potential £2 billion of fresh investments. Prime Minister Rishi Sunak expressed his confidence in the UK's automotive industry, highlighting its £71 billion annual contribution to the country's economy. He described Nissan...

In a poignant initiative to commemorate International Men's Day, Ben, the automotive industry charity, has released a heartfelt short film titled "Alright Mate." The film shines a spotlight on the critical issue of male suicide, a matter of particular concern within the male-dominated automotive sector. With men being three times more likely than women to take their own lives, Ben's campaign seeks to make a difference and inspire change. Directed by Chris Harris and featuring talented actors Noah Lukehurst as James and Alastair Ellery, known for his role in the Netflix film "The Strays," as Ade, the film delivers a powerful message. The release of "Alright Mate" on this significant day underscores the theme of 'zero male suicide' for this year's International Men's Day. The statistics are alarming, and the automotive industry's predominance of male workers adds to the urgency of addressing this issue. Ben's film aims to...

In a poignant initiative to commemorate International Men's Day, Ben, the automotive industry charity, has released a heartfelt short film titled "Alright Mate." The film shines a spotlight on the critical issue of male suicide, a matter of particular concern within the male-dominated automotive sector. With men being three times more likely than women to take their own lives, Ben's campaign seeks to make a difference and inspire change. Directed by Chris Harris and featuring talented actors Noah Lukehurst as James and Alastair Ellery, known for his role in the Netflix film "The Strays," as Ade, the film delivers a powerful message. The release of "Alright Mate" on this significant day underscores the theme of 'zero male suicide' for this year's International Men's Day. The statistics are alarming, and the automotive industry's predominance of male workers adds to the urgency of addressing this issue. Ben's film aims to...

In the latest Motor Trade News from cardealermagazine.co.uk , Auto Trader's Monthly Market Intelligence report for October reveals intriguing trends in the UK's automotive landscape. Despite the expansion of the Ulez (Ultra Low Emission Zone) in London, non-compliant used car stock seems to be staying put rather than migrating northward. Auto Trader's findings indicate that retailers across the UK are now holding fewer non-compliant vehicles. This development comes in the wake of the Ulez zone's extension on August 29, encompassing all 32 boroughs of London. Surprisingly, the data suggests that the south-to-north shift of non-compliant cars may not be as pronounced as anticipated. For instance, in the East Midlands, non-compliant vehicles now constitute just 10% of dealers' stock, a significant decrease from approximately 16% in October 2021. Similarly, in the north-west, the percentage of non-compliant cars in stock has fallen to 12% from 16%. While London's ...

In a recent release of motor trade news that's sure to inspire those looking to sell more cars, Auto Trader has reported a significant increase in profits. This achievement, outlined in detail on cardealermagazine.co.uk , stands out amidst the broader economic concerns affecting many industries. For the six months leading up to September, Auto Trader experienced a notable 10% rise in profit before tax, reaching £162.8m, a jump from the previous year's £148m. This increase in profit isn't isolated; both revenue and margins have followed suit. The core Auto Trader business boasted an operating profit of £184.9m, a 10% increase with an impressive 71% margin. Group level revenue climbed by 12% to £280.5m, with Autorama contributing £21.1m despite its increased operating loss. Nathan Coe, CEO of Auto Trader, commented on these robust results, highlighting the platform's effectiveness in helping retailers and manufacturers source, price, and sell vehicles efficiently. Au...