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

MOT testers now need to take pictures during tests

The move is aimed at to ousting fraud within the testing process, while also preventing errors

Read More

GSF launches brake blitz with new Brembo and Drivetec parts

New components dramatically increase motor factor’s brake offering

Read More

GSF adds Lucas parts to shelves in new partnership

The range will cover more than 8700 SKUs and 95% of the vehicle parc

Read More

New area sales manager joins at GYS

All the latest changes from across the sector, including new roles, promotions, and retirements

Read More

IMI calls for greater urgency in apprenticeships reform

Call comes after “critical” pipeline into the automotive industry dropped slightly in 2023-24

Read More

Go to comments

Your email address will not be published.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