CBI Boss Calls for “Economic Migration” to Tackle Labour Shortage
The UK’s low economic growth could be solved by immigration, says the Director-General of the CBI. On the first day of the CBI Annual Conference 2022,...
Read Full ArticleWhat Car? is urging consumers to fight back against surging new car prices in the wake of Brexit.
A ‘perfect storm’ of rising inflation and the car industry’s efforts to increase dealer profitability has cost UK car buyers nearly £2 billion in price hikes in just seven months, according to independent research carried out by the consumer title.
However, while prices have risen by an average of 5.2% in the past seven months, the situation varies greatly from sector to sector; luxury cars are actually 0.2% cheaper than they were last June and executive saloons 0.8% more expensive, whereas performance cars and MPVs now cost 8.4% more on average and large SUVs 12.3%.
These increases are thought to be partly a by-product of the Brexit vote, which immediately knocked the value of the pound and consequently the cost of importing both cars and the raw materials that go into their production.
They are also part of a longer term trend which has seen manufacturers gradually reduce discounts and withdraw many of the most appealing 0% and low-rate interest finance deals as they seek to regain control of profit margins.
£200 per month
Vehicles costing less than £200 per month – the holy grail for many car buyers – now make up 9.9% of the market, compared with 13% seven months ago, with the same deposit in each case.
“We knew average prices were going up, but rather than a gradual rise, our research has shown that there has been a perfect storm of elements that has conspired to create a big bang in price hikes,” explained What Car? editor Steve Huntingford. Fortunately, the aggressive sales targets that many dealers have mean you can still get a great deal if you buy from the right place. Our new car buying marketplace saves the hassle of shopping around, letting users configure a car to your desired spec and then directly compare prices."
Picture: Going to a dealer - beware of car price hikes
Article written by Robin Snow | Published 14 February 2017
The UK’s low economic growth could be solved by immigration, says the Director-General of the CBI. On the first day of the CBI Annual Conference 2022,...
Read Full ArticleWhether recruiting remotely or in-person, facilities management businesses must keep up to date with the latest digital ID changes to remain compliant. Stefan...
Read Full ArticleBrexit, staff shortages and COVID-19 are all being cited as reasons for queues at UK airports – but what’s really to blame? On Monday 9 May 2022,...
Read Full ArticleLike many industries, security is currently facing a recruitment crisis. But why is it happening and what can be done about it? Elizabeth Smith, Head of People &...
Read Full ArticleShortages caused by Brexit and COVID-19 must be dealt with by creating a temporary visa scheme for workers in the construction industry, says Sadiq Khan. In September...
Read Full ArticleAs the UK experiences supply shortages from labour to CO2 to fuel distribution, the UK’s biggest business group is urging the government to empower...
Read Full ArticleAmidst national staff shortages in the UK, cleaners and domestic staff are some of the most in-demand. In the week of 23-29 August, there were a total of 1.66 million...
Read Full ArticleA European Parliament majority has voted for a law that grants workers the right to digitally disconnect from work without facing negative repercussions. MEPs are...
Read Full ArticleManufacturers that have failed to re-register their cleaning chemicals on the GB Article 95 List may not be able to sell in the UK market. Some cleaning chemical...
Read Full ArticleMore and more businesses have prioritised environmental policy in an attempt to reduce their carbon footprint and tackle climate change. However, Brexit and COVID-19...
Read Full Article