VM problems ‘benefit’ used market says ECP’s Hamilton

“The used vehicle market has continued to benefit from the backlog on new vehicle production lines, which has been exacerbated by the tragic events in Ukraine” commented LKQ Euro Car Parts’ CEO Andy Hamilton, following the publication of SMMT registration data of Q1 2022. “That said, momentum has slowed throughout the quarter, as millions of households are now feeling the effects of the cost-of-living crisis”.

“These factors – which are also squeezing the new vehicle market – mean the average age of the UK’s vehicle parc continues to increase,” added Hamilton. “For independent garages, this bodes well in terms of inbound work volumes – provided MOTs continue to be an annual requirement. Policy makers ought to note that MOTs are even more critical to road safety as vehicles age”.

Andy Hamilton

READ: CHIP SHORTAGE: ‘WE HAVEN’T EVEN REACHED THE MIDDLE YET’

READ: VAUXHALL BOSS HITS OUT AT FRANCHISE ‘CATHEDRALS’

“Our advice to garages is not to get too comfortable, and to future-proof their operations through investment in training and equipment. Record numbers of drivers purchased pre-owned zero-emission cars in Q1 – highlighting the need for garages to get hybrid and EV-ready,” he concluded.

Published by Greg Whitaker

Editor of CAT Magazine and an experienced motoring journalist @GregWhitaker5

Why transitioning to EVs is a money maker for garages

One of main keys to profitability is because ICE-only parts are suffering from a higher inflation rate compared to their EV counterparts

Read More

Pothole damage sees alloy repairs jump 58% in two years

The country’s main political parties vow to fill in potholes as part of their 4 July election pledges

Read More

GSF opens 10,000 sq ft Birmingham branch; Crawley, Southgate to follow

Located close to Birmingham city centre, it features a fleet of five vans, two bikes, and two electric Tuk Tuk-style bikes

Read More

Skills gap “a timebomb” for aftermarket, says GSF CEO

Steve Horne said a lack of workers was stifling the market’s potential and increasing costs for motorists

Read More

Legal hand car washes “outnumbered” by illegal sites as £2.5m in fines handed out

Home Office data revealed that 87 hand car washes across the UK were fined some £2.5 million for ‘right to work’ offences in 2023

Read More

Go to comments

Your email address will not be published. Required fields are marked *