CARFAX Europe’s Post

Spanish used cars are among the oldest in Europe 👴 And the cars that changed ownership in 2023 are no exception, 4 out of 10 of these were 15 and older! Get all the facts in our latest press release (in Spanish language) 👇

Electrification of new #cars stalled in Europe's largest car markets in 2023. And for 2024 we again expect a year of slow progress as the largest market Germany terminated its private subsidies and many middle class car drivers still wait for a better case to make the shift. But relative prices are picking up a downward track again. And it would also help if a lagging major car market like Italy catches up with a fiscal support program. From 2025 the combination with regulatory pressure on #manufacturers is expected to unleash substantial progress again. Read more in our global car market shortly. Find our latest view here: https://lnkd.in/e65aGrkb #ING #automotive

How desperate do you have to be as a car industry lobbyist to go raving to the press about how merely the increase in private new diesel car registrations was higher than the increase in new private electric car registrations, when private new car registrations as a whole are down almost 10% year-on-year? ICE is declining. EVs are in the ascendency. The trajectory will be lumpy, not smooth.

🚨 Time to Clear the Air About EVs - But Keep Calm🚨 Let’s address a major issue holding back #EV adoption for private buyers. 🚗⚡ Here’s the problem: there’s a huge gap between the deals offered to businesses versus what’s available to you as a private consumer. If you’re a business, you could snag a 38% discount on an EV, while a private buyer barely sees 5% off the same car. Why the double standard? 😤 This isn’t just about cost. It’s also about perceived value, convenience, and depreciation. Plus, as a private buyer, you have something businesses don’t—the right to reject under the Consumer Rights Act 2015. If an EV doesn’t live up to expectations, you’ve got 30 days to return it and get your money back. 💸 Manufacturers know this, which is why they hesitate to offer the same deals to you. They don’t want to face a wave of returns if the product doesn’t meet the standard. But that’s their responsibility, not yours. 🙅♂️ Hence why early adopters are businesses and targeted in the manner they are as like all products produced there can be issues. 💡 Here’s the reality: We don’t need more government subsidies or handouts to make EVs work. What we need is for manufacturers to deliver a better-quality product—one that truly meets the needs of private buyers. Stop hiding behind technicalities and step up your game! Because #EVs should be accessible to everyone—not just businesses. 🌍 What do you think? Should the industry start offering fair deals, or are private buyers always going to be stuck paying more for less? 🔄 #EV #Law #ConsumerRights #Automotive #SundayThoughts

The 10 cheapest new cars to buy and run in the UK. The price of a new car isn't necessarily the true cost an owner will pay to run the car. TCO data from cap hpi takes into account the costs of owning the car for, as an example, three years. This includes the largest cost - depreciation, as well as service and maintenance costs (including tyres), fuel and taxes. HPI free TCO cost calculator is available for non-fleet users, link is in the story below: Mark Turnbull Michaela Hill Matthew Freeman David Shoard Tim Mobbs Mathew Fleming Alex Jerrison Chetan Patel Chris Blakely #caphpi #automotive #newcar #fleet #fleetmanagement #solera https://lnkd.in/eRX5ttCj?

Advisory fuel rates for Company Cars September 2024 New company car advisory fuel rates have been published and took effect from 1 September 2024. Read More: https://bit.ly/3MLaUHz

From our economists - The European #carindustry is facing challenging times in keeping up with the historic transition to #electricvehicles, while competition from new entrants mounts. The shift to EVs is a non-linear journey with many uncertainties, as we have seen over the last couple of years. But it’s increasingly putting European carmakers under pressure while total new car sales fail to return to pre-pandemic levels in their home markets. 

Car market in Europe is lower these days versus 5 years ago. Are people waiting longer to buy new cars due to uncertainty and higher prices around electric cars? Can we expect a 14 million market again soon in Europe?

I do not advocate increasing COE supply and charging for distance. This will :- 1) Be unfair to car owners who had paid the high COEs and we should not subject them to the higher distance based ERP... 2) A Rebate to these legacy car owners will benefit the super rich who owns multiple cars and only drives one car at a time... 3) Higher distance based ERP to offset with increased COE supply will have to be so expensive that it will be more than 57c per km... ($100k÷10÷17.5k), with current 10 year COE divided by number of years and average mileage per year... Which is around the running rate of a current taxi meter... 4) Introduction of higher distance based ERP will penalise all the goods vehicles and delivery service... Which is highly inflationary... Don't expect free delivery when you buy on Lazada.... The problem with the current COE system is not that it is too high but that it is NOT consistently high enough... When you have years of high COE supply with lower COE prices, you encourage car ownership and people get used to a lifestyle with a car... They stay further away from their parents, schools and child care centres and they organise their lives assuming they have the use of a car... Taking the car away from them, when COE supply is low, is painful... Thus the hue and cry... * The "cut & fill" approach introduced recently to even out the supply is thus a good solution... The only thing I would address is the effect of private hire car companies bidding COE for commercial use and crowding out personal use. I would introduce a surcharge for these companies... Any private hire car company which buys a car, whether new or used, will have to pay additional 30% on the prevailing 3 month average COE pro rated to the number of years left, in the case of the used car... Thus a private hire car company will have to pay $30k more for a new car assuming COE price is at around $100k. Why not a separate COE category for private hire car companies as many pundits advocated? Because the private hire companies can just game the system by buying a relatively new car on the second hand car market.. * Imagine a Singapore that heavily subsidise yatch ownership for many years.. People would start to do fishing, sell their house and live in their yatches, and do whatever else people do on yatches... I am sure there will be massive outcry when these subsidies are then removed, making yatch ownership expensive...

In the first five months of 2024, the German passenger car market has shown several noteworthy trends. With a growth rate of 3.5%, the private market has outperformed the fleet market, which grew by a modest 0.9%. As a result, the market shares of these two channels are converging, with the private market holding 32% and the fleet market 33%. #carmarket #germany #automotivedata