Latest news with #carmanufacturers
Top Gear
3 days ago
- Automotive
- Top Gear
Opinion: a cheap, used Fiat Panda is more luxurious than an expensive new 'luxury' car
Opinion "Simplicity and convenience are luxury. Think of it like that and new cars are infuriatingly awful..." Skip 1 photos in the image carousel and continue reading We are obsessed with luxury. We crave luxury hotels with goose down pillows. If we're lucky perhaps we can splash out on a luxury watch. Our face wash is luxury. We can barely survive without quilted and luxurious toilet roll. Car manufacturers are similarly afflicted. Many of them aren't car manufacturers at all, they say, but 'luxury brands'. A loose concept that nobody can really explain without descending into pretentious expressions that string together a load of alluring sounding words but don't actually mean anything. I've lost count of the number of presentations I've sat through telling me about target customers who all wear Gucci loafers and spend their days sipping cocktails while planning their next philanthropic endeavour. Advertisement - Page continues below Yet the sad reality is that car manufacturers are now ill-equipped to provide luxury. No matter how deep the carpet, how rarefied the materials, how silent or powerful or sophisticated. The truly luxurious motoring experience is dead. It took me buying a £1,300 Fiat Panda with cloth trim and wind up rear windows to realise it. No, I'm not going mad. Just think about what real luxury means. Time is luxury. All demands on you melting away is luxury. Simplicity and convenience are luxury. Think of it like that and new cars are infuriatingly awful. In many ways, the Panda is the most luxurious thing I've driven for a long time. The benefits of this humble little car were brought into sharp focus as I was simultaneously getting to know a new test car. A BMW that cost 50 times as much. You might like It starts with something as basic as the key. The Panda's is slender and small and is inserted into an ignition barrel, decluttering the interior. The BMW's is massive but has tiny, fiddly buttons (some on the side, one on the front). It rattles in the cupholder as you drive. Jump into the Panda and within five seconds you can be driving. The BMW requires you to select a profile. You can move off in 'Guest' but then none of your preferred settings are loaded. So, I select 'Driver'. At which point it flashes a warning about this changing settings (the reason I'm doing it), and I have to then hit 'Activate'. There's a long delay while this new profile loads, during which I can't use the screen to turn up the heater, or enter something into the nav, or change the radio. The Panda is already down the road, of course. Advertisement - Page continues below Now I need to deselect the audible speed limit warning. Luckily this is done with the simple press of a button. But to disable the godawful lane departure warning system requires me to hit the main menu button on the touchscreen, scroll to drive settings and select (incredibly, this tile moves at random times), then find and deactivate the system, then confirm when it warns me I'm deactivating it. At which point it's possible that I've crashed but it is certain I will want to pull over and set the thing on fire. This is not luxury. And these systems are the death of what cars represent: freedom and escape. The luxury of being the masters of our own destiny. The Panda treasures all those things and a strange peace washes over you as soon as you drop in and start to drive. No new car can match that feeling, whatever the price. Thank you for subscribing to our newsletter. Look out for your regular round-up of news, reviews and offers in your inbox. Get all the latest news, reviews and exclusives, direct to your inbox.
Daily Mail
29-05-2025
- Automotive
- Daily Mail
Used electric cars lose half their value in two years - manufacturers blamed for discounting new prices
Electric cars are losing more than half their value within two years, according to a new report. Analysis by Cox Automotive has suggested that a 24-month-old battery car sold to the trade in April on average retained just 47 per cent of its original new cost. However, two years earlier, an EV of the same age profile was - on average - holding on to 83 per cent of its new price. The dramatic acceleration in depreciation is being blamed on manufacturers who are caught in an unprecedented catch 22 scenario currently playing out in the automotive sector. With car makers being forced to increase their sales of EVs to meet Government-mandated targets, they are offering huge discounts on new models to make them more attractive to new customers in order to meet their quotas. But this is having a significant knock-on impact for residual prices, as drivers are seeing more value for money buying new rather than opting for a nearly-new second-hand EV, which has seen used prices tumble. This graphs shows the average auction sale price for EVs under 24 months old as a percentage of their original cost new, with the typical electric car retaining just 47% of its showroom price The Zero Emission Vehicle (ZEV) mandate introduced to law last January requires mainstream car manufacturers to sell an increasing share of EVs every year between now and 2035. Failure to adhere to these quotas can result in significant fines of £12,000 for every car sold below the required threshold for that year. In 2024, the minimum quota was for 22 per cent of all deliveries by manufacturers to be zero-emission electric cars. However, the target jumps to 28 per cent this year, 33 per cent in 2026 and 80 per cent by 2030. Officials reported that every mainstream brand achieved last year's 22 per cent EV sales mix - though at a huge cost to car companies. The Society of Motor Manufacturers and Traders (SMMT) reported that makers lost a collective £4billion in discounted prices as they tried to make electric cars appear more attractive to petrol and diesel counterparts. Mike Hawes, chief exec at the trade body, described the scale of these discounts as 'unsustainable'. Labour's decision to force EV owners to pay car tax for the first time from April has also dampened demand for new models - and triggered further manufacturer discounts. Both Vauxhall and Abarth - the performance division of Fiat - have recently reduced prices of their electric cars so that they sit below a £40,000 expensive car tax supplement being imposed on new EVs starting from next year. But Cox Automotive Europe discounts are now having a huge knock-on effect on the second-hand market, because 'nearly new' used EVs are falling in value as a direct result. Second-hand electric vehicle prices are also taking a hit from the huge acceleration in available models coming to market, with March seeing a record 69,313 new electric cars entering the road. A rapid development of battery technology is also stinging the value of quickly outdated older EVs, while the emergence of new cheaper brands - predominantly from China - is also pushing second-hand values lower. As such, a two-year-old electric car today is now holding just 53 per cent of its original price. In contrast, the average diesel car selling to trade with the same age profile is retaining 30 per cent of its new value. When second-hand EV values were at their peak in 2022 - as a result of supply constraints around the Covid-19 pandemic - a two-year-old electric car was losing only 17 per cent of its showroom price. Philip Nothard, insight director at Cox Automotive Europe, said: 'The current performance of nearly-new EVs in the used market is still much lower than we would anticipate for vehicles in this age profile. 'The heavy discounts offered on new vehicles mean that consumers can pick up a brand-new model for the same price as a nearly-new model. 'This gives consumers very little incentive to consider them, which is a real blow to a market that needs all the incentives it can get its hands on.' On the flipside, EVs between three to five years old are performing much better. At auction, these vehicles have seen only a modest price drop of 15 per cent on average in the same time period as they aren't impacted as severely by heavy manufacturer discounts and tend to attract a different driver. Last month, Prime Minister Sir Keir Starmer was forced to water down Britain's electric vehicle sales targets in response to Donald Trump's watershed tariff announcement. The PM's new measures included additional leniencies in the ZEV mandate in a bid to 'support car makers'. And only last week, a leaked letter from transport minister Lilian Greenwood revealed that the Government is considering dumping the expensive car supplement - widely being referred to as the 'Tesla Tax' - for new electric cars in an effort to stir up more demand for green vehicles. Nothard added: 'The used market is a crucial source of profitability for the automotive sector. 'Within increasingly volatile market conditions, the strength and consistency of used operations are crucial. 'To ensure this, more support for the used EV sector is needed to put the brakes on the rapid pace of depreciation.'
The Independent
29-05-2025
- Automotive
- The Independent
Auto Trader boss says trade war could boost new car sales into UK
The boss of Auto Trader has said the international trade war could boost new car sales into the UK if it becomes more expensive for global manufacturers to export vehicles to other countries. Chief executive Nathan Coe told the PA news agency that while increased trade friction could raise prices across the board, higher import levies could see more cars coming into the UK. He said: 'Depending on where they all (tariffs) settle, you might all find new car prices are slightly higher on a like-for-like basis. 'But the car market is very simple, it's about supply and demand. 'If you look at last year, the number of new cars sold to consumers (in the UK) actually fell and was very low by historical standards. 'So I think the UK becomes potentially a more attractive market, given all the trade wars. It has got a good market, it does buy a lot of cars. 'If it's more expensive to export those cars to other countries, it could well be the UK is a place where we find a few more new cars coming this way.' Mr Coe's comments came as Auto Trader reported that the UK's new car market grew 3% last year, but that was driven by sales of company or 'fleet' vehicles, while sales to consumers fell 4% year-on-year. He said it is 'a very different story' for the UK's car manufacturers, however, with increased export barriers meaning prices will go up and 'people will buy less of them'. It comes as the number of vehicles manufactured in the UK plunged last month to the lowest April figure for more than 70 years, amid a hit from trade tariffs and the timing of Easter. Factories turned out just 59,203 vehicles in April, the lowest figure for that month for more than 70 years excluding 2020, when Covid-19 lockdowns halted production. But the car sales market, which includes imported vehicles, is in better health, Auto Trader said on Thursday, as it saw a 5% increase in the number of cars advertised through its platform, an average of 449,000 per month through the year to the end of March. The group said it saw a 5% increase in the number of cars advertised through its platform, an average of 449,000 per month through the year. And it said consumers made a record 81.6 million visits to Auto Trader's platforms this year. Auto Trader's revenues came in at £601.1 million in the year to March 31, up 5% compared with the previous 12 months, while profit rose 8% to £376.8 million. The growth in both markets comes despite another year of high interest rates and inflation in the UK, which the company said put 'financial pressure' on customers. Mr Coe added: 'Despite broader macroeconomic uncertainties, the UK car market is in good health and we continue to deliver against our strategy to improve car buying and retailing.'
Daily Mail
28-05-2025
- Automotive
- Daily Mail
Death knell for a century-old driving skill: It is rapidly becoming a dying art that electric cars will kill off entirely
A driving skill the majority of motorists perfected when taking their driving test is rapidly becoming a dying art - and one that will disappear entirely when electric cars become mainstream. The act of changing gear is 'on its way out', with vehicle manufacturers already culling manual gearboxes, according to a market review. It found that just 96 models in showrooms today are available with a manual transmission. In contrast, there are 404 new cars to buy that come exclusively with automatic gearboxes. It means fewer than a fifth of new models now have a traditional gearstick - a feature that dates back to the 1891 Panhard et Levassor, the vehicle widely recognised as the first with a manual transmission. And the skill of changing gear is likely to become obsolete entirely in new models once the sale of new petrol and diesel models is banned in 2030 and car makers can only sell hybrid and electric vehicles in showrooms - both of which use automatic gearboxes. It also appears young drivers are preparing for this transition, with auto-only driving tests on the rise as new motorists ditch changing gear. Almost one in four learners are now choosing to take their test in an automatic car, according to the latest figures published by the DVSA. Of the 1,945,225 practical driving tests sat in the financial year 2023/24, 445,276 did so in automatics. This represents 23.4 per cent of all tests. It was a sharp increase on the year previous when just 19.2 per cent of tests (324,064 of 1,688,955) were auto-only. Five years earlier (2019/20), automatic driving tests accounted for just 12.7 of all practical tests; and wind the clocks back a decade (to 2014/15) and they represented a mere 6.9 per cent of tests. It means auto-only has risen from less than one in fourteen driving tests 10 years ago to one in four today. However, pass rates in automatics - despite the general belief that they are easier to drive - are statistically lower. In the last fiscal year, the pass rate for auto-only tests was just 42.8 per cent; for all driving tests, the average pass rate was 47.9 per cent. The acceleration in popularity is despite auto-only licence holders facing one major restriction. Anyone who passes in a manual car can legally drive any motor irrespective of its gearbox, but those who take auto-only tests are limited to only automatic vehicles. While this could pose problematic in some scenarios, such as when drivers want to rent motors abroad and face higher costs or limiting availability of auto vehicles, the new car market shows a huge drive towards automatics. In fact, the significant rise in auto-only tests mirrors the rapidly diminishing availability of new cars with manual transmissions in recent years. In a similar study of the UK car market conducted by CarGurus, it found that the choice of new models with manual gearboxes had shrunk by 57 per cent compared to 2015. It said, at the rate of decline currently see, the manual gearbox will be 'lost forever' in new motors by 2037. The demise of the gear stick will gather pace more dramatically from 2030, when only hybrid and electric cars can be sold in Britain. Every hybrid and EV available today comes with an automatic transmission, meaning the art of changing gear will be extinct in new cars from the end of the decade. That said, some brands are using 'simulated' gearboxes, which are automatic systems tweaked to feel like a manual to provide an increased level of involvement for the driver. Paul Barker, editor at Auto Express, said the sector is seeing a 'seismic shift in gearbox preference'. 'With EVs now exclusively automatic and more new drivers opting for auto-only licences, automatics are no longer the compromise choice – they're fast becoming the default,' he said. While manuals are far more involving, Barker says that autos are becoming more appealing beyond their convenience. Semi-automatic system's including VW's DSG, Porsche's PDK and BMW's DCT offer 'fast shifts, better fuel economy, and a sportier drive that appeals to both everyday users and enthusiasts,' he said. 'And the latest conventional automatics and CVTs deliver smooth, seamless performance – perfect for urban traffic and long-distance cruising alike. 'In many cases, they now outperform their manual counterparts.' CarGurus' previous market analysis looked only at the existing availability of manual models from the 31 best-selling manufacturers in Britain. It found that just 82 or the 278 models in showrooms came with a gear stick. The analysis revealed that seven brands have already stopped selling new motors with manual transmissions. Land Rover and Mini are now entirely auto only - both of them losing their last manual gearbox option in the last 12 months. Other makers that also don't have manuals includes Lexus, Mercedes-Benz and Volvo - as well as EV-only makes, Polestar and Tesla. The number of new models per brand with manual gearboxes Audi: 4 - A1, A3, Q2, Q3 BMW: 3 - 1 Series, 2 Series (Gran Coupe), M2 Citroen: 6 - Berlingo, C3, C3 Aircross, C4, C4 X, C5 Aircross Cupra: 2 - Formentor, Leon Dacia: 5 (all) - Duster, Jogger, Sandero Stepway, Sandero, Bigster Fiat: 2 - 500, 500C Ford: 6 - Focus, Kuga, Mustang, Puma, Ranger, Tourneo Honda: 1 - Civic TYPE R Hyundai: 5 - Bayon, i10, i20, Kona, Tuscon Jaguar*: 0 Jeep: 1 - Avenger (hybrid) Kia: 4 - Ceed, Picanto, Sportage, Xceed Land Rover: 0 Lexus: 0 Mazda: 5 - CX-30, CX-5, Mazda2, Mazda3, MX-5 Mercedes-Benz: 0 MG: 3 - MG3, HS, ZS Mini: 0 Nissan: 2 - Juke, Qashqai Peugeot: 2 - 2008, 208 Polestar: 0 Porsche: 3 - 911, Boxster, Cayman Renault: 2 - Clio, Captur Seat: 4 - Arona, Ibiza, Leon, Ateca Skoda: 5 - Fabia, Kamiq, Karoq, Octavia, Scala Suzuki: 4 - Ignis, S-Cross, Swift, Vitara Tesla: 0 Toyota: 3 - Aygo X, GR Yaris, Hilux Vauxhall: 3 - Astra, Corsa, Mokka Volkswagen: 7 - Golf, Polo, Taigo, T-Cross, T-Roc, Touran, Transporter Volvo: 0 TOTAL: 82 Source: CarGurus *Jaguar current sells no new cars but had no manual gearbox models in 2024 and will be all-electric in 2026, meaning only automatic transmissions Changing gear in a new car will be almost obsolete from the start of the next decade when only hybrid and electric vehicles are allowed to be sold in showrooms. All currently come with auto gearboxes Manual gearbox defunct in new cars from 2030 - can it be saved? From 2030, only conventional hybrid, plug-in hybrid and fully-electric cars will be available from new in dealerships in Britain. Currently, not a single model across these three fuel types have a manual gearbox. This is because an electric drivetrain with instant torque simply requires a single gear. However, some brands are dabbling with systems that make an automatic feel more like a manual. Hyundai's Ioniq 5 N hot SUV (costing from £65,000) already has a 'simulated' manual gearbox using paddleshifts behind the wheel. Despite having a single-speed gearbox, the N e-shift system replicates the sensation and engine sound of a combustion engine. It even has a rev counter redlined to 8,000rpm - once you hit this in a gear, it will accelerate no more, as with a conventional manual transmission. Change down the gears and it will simulate the blipping of the throttle. It's a clever feature design to make EVs more engaging, with Toyota also developing its own simulated manual gearbox. This has already been fed into the Japanese manufacturer's luxury brand, Lexus, with a simulated manual gearbox called 'Interactive Manual Drive' available in the new RZ SUV. When the driver uses the fake gear stick and clutch to select first, the system will allow for lots of torque but have a low limited top speed in that gear. In sixth, there will be less torque available but will not have a limit on the electric motor speed That said, the mechanical transmission most licence holders have learned to drive in will soon start to disappear when new cars transition to electric power. Supercars and niche models built in low production volumes - think small sports car like Caterhams and Ariels - have also been given a stay of execution from the ban on new petrol and diesel models at the end of the decade. It means only the super-rich and petrol head enthusiasts will theoretically still be able to buy manual cars after 2030. However, by 2035 these are also likely to be forced to go electric, almost certainly rendering the gear shift extinct.
CTV News
15-05-2025
- Automotive
- CTV News
Concerns grow over Canada's electric vehicle manufacturing sector
With car manufacturers scaling back plans for electric vehicle plants, questions are emerging about the industry's future. Adrian Ghobrial reports.
