Thursday, July 18, 2024
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motor trade 'rolling with the punches'

Figures from the Society of Motor Manufacturers and Traders show a 4.1% drop in new car registrations. Seán Kemple, director of sales at Close Brothers Motor Finance, said: “The motor industry is rolling with the punches in the climate of political uncertainty, an uncertain global market, and the continuing problems caused by the Worldwide Harmonised Light Vehicle Test [emissions] Procedure (WLTP). Investment in cars crashed to a sorry £90m in the first half of this year, which is a reflection of the collective water-treading that is going on until the end of October. In this environment, it isn’t a surprise that car buyers are also holding out until the storm settles.
 
“But despite the overall fall in car registrations, we are seeing pockets of increased sales. Demand for electric and hybrid vehicles continues to rise, as buyers look toward a greener future and as the range of choice on offer continues to grow. This will only roll on and on as the industry landscape completely transforms. Jaguar Land Rover’s recent announcement to invest heavily in this is testament to this fact, with other similar announcements no doubt on the way. Dealers mustn’t be put off by the bumps in the road, but should focus their attention on the vehicles which are performing best. Capitalising on the areas where investment is strongest – be it through changing stock or tweaking their offer to reflect buying trends – will be crucial in the coming months.”
 

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