pandemic

UK electric car market in top speed as sales jump 186 per cent during pandemic



a person walking down a street next to a car


© Provided by City AM


Electric car sales in the UK have jumped by 186 per cent to 108,000 in 2020, up from just 38,000 in 2019, according to a new study, shared exclusively with City A.M. this morning.

This growth is six times higher than the average sales growth of electric cars globally at 31 per cent in 2020, putting the UK in fourth place out of 26 countries in the study by accountancy firm UHY.

Worldwide growth in sales of electric cars has outpaced global car sales – including petrol and diesel – which fell by approximately 15 per cent to 64m in 2020, down from 75m in 2019.

Less than a fifth (19 per cent) of countries in UHY’s study saw sales of electric cars fall during the first year of lockdown, including Japan which fell 31 per cent and Canada, down 20 per cent in 2020.

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Used-car prices are finally starting to fall from their pandemic peaks, but deals are still far away

A car dealership lot with Ram pickup trucks.

Used-car prices will only truly get back to normal once new-car prices come down. David Zalubowski/AP

  • Used-car prices have shot through the roof in the past year.

  • The market may have finally peaked and prices are slowly returning to normal.

  • But it could still be more than a year before you can truly get a deal on a secondhand vehicle.

  • See more stories on Insider’s business page.

In today’s topsy-turvy car market, people are shelling out thousands more for used cars than they did just a year ago, with prices jumping more than 10% in June alone.

And although prices appear to have peaked, it’ll be a long while before you’ll be able to pick up a secondhand set of wheels on the cheap, experts say.

Prices are finally dropping

After surging for months, wholesale used-vehicle prices went down between May and June, according to data from Manheim

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Used-car prices are poised to peak in U.S. after pandemic surge

The record-breaking increase in used-car prices is probably coming to an end – and with it a key driver of the recent spike in U.S. inflation. The bellwether of the industry – the wholesale market where dealers buy and sell in bulk – already has topped out and prices of individual secondhand cars should follow in a matter of weeks, said Zo Rahim, industry analyst at Cox Automotive. Cox owns Manheim, the biggest U.S. auction house that sells millions of vehicles every year. Soaring prices for secondhand vehicles have helped push U.S. inflation to the highest in more than a decade. The cost of used cars and trucks climbed 10% in April, and another 7.3% in May, when they were responsible for one-third of the overall increase in consumer prices. All kinds of pandemic-driven shifts in supply and demand have contributed to the run-up. But there are signs that

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How House & Home Thrived Regardless Of The Pandemic Ad Drought » Media In Canada

Shoppers are forking out on their houses partly as a result of they’re spending much less elsewhere. The public well being crisis has made more Americans unwilling or unable to eat out or go on vacation, whereas demand for clothing has dropped. While different industries grapple with a shaky economic system, the home improvement business is booming. Home Depot and Lowe’s last week reported traditionally giant rises in quarterly revenues as housebound Americans spend billions of dollars more than ordinary at the two go-to chains for DIY. I’ve been a subscriber to Family Handyman for years and I recommend Home Improvement it to anybody who likes to do handyman jobs around the house. It additionally accommodates lots of practical recommendation about working with professionals corresponding to designers, contractors, and architects. You can rely on this journal to supply an excellent mixture of interesting ideas and a quality read, in reality … Read More