sales

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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4 Auto Parts Stocks to Buy as New Car Sales Dwindle By StockNews


© Reuters. 4 Auto Parts Stocks to Buy as New Car Sales Dwindle

As the new car market remains under pressure, the auto parts industry is benefiting handsomely from the growing demand for used cars. And because the aftermarket auto parts industry is expected to continue growing amid dwindling new car sales, we think O’Reilly Automotive (NASDAQ:), LKQ Corporation (NASDAQ:), Autoliv (NYSE:), and Dana (DAN) could be ideal bets now. Read on.The sales of new cars have declined as a function of a global semiconductor chip shortage that has hamstrung automobile production. However, the demand for used cars has increased significantly since last year, as people have taken steps to avoid public transportation due to fear of catching COVID-19 . This has caused used car prices to spike. According to the Manheim Used Vehicle Value Index, used car prices are up 18.8% from this time last year.

This bodes well

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Labor Day Weekend Car Sales Could Be Slow

Car buyers could find it tough to locate the traditional Labor Day weekend deals that had been a hallmark of the auto retailer calendar until the COVID-19 pandemic as dealers struggle to keep their lots full amid supply chain bottlenecks this year.

Many dealers have such low supplies this weekend they are actually cutting their advertising budgets this month and closing up shop Friday and Saturday rather than welcoming streams of buyers, according to a report in The Wall Street Journal.

The pandemic forced many car factories to shut down in early 2020, but even as they’ve tried to restart production over the past year, a global computer-chip shortage has hampered U.S. auto production and led to a shortage of available new cars.

“Customers are walking in and saying, ‘Hey, I really want this vehicle.’ Well, yeah, so do we,” said Scott Smith, president of Smith Automotive Group, which operates

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Residence Gross Sales

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What is the difference between a realtor and a real estate agent?

Real estate is a term that refers to the physical land, structures, and resources attached to it. Real property includes the physical property of the real estate, but it expands its definition to include a bundle of ownership and usage rights.

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