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Archive for the ‘Auto News’ Category

March is traditionally the biggest month of the year for car sales figures as it sees the arrival of the current year’s number plate.

March 2011 saw the announcement of George Osborne’s budget and with it came the inevitable spending cuts, benefit cuts and tax increases, aimed at decreasing the countries deficit. Despite the 1p cut in fuel duty made, many motorists have complained they haven’t seen the benefit due the rise in price of wholesale fuel.

Due to the current economic climate it will come as no surprise that March 2011 saw a 7.9% decline in sales from this time last year, with 366,101 new 11 plate cars being registered. Despite the decline sales were better than expected, and were actually up 5.9% on last years excluding sales under the scrappage scheme in 2010.

In total sales over quarter one of this year fell 8.7%, with the market forecasted to drop 5% to 1.93 million over the year. Fleet and business volumes however managed a growth against both March and quarter one of last year, depicting an underlying business confidence which should help to stabilise the market over 2011.

So far this year, has seen the lowest average new car CO2 emissions ever! Which are down 3.4% to 140.3g/km. With a rise in diesel sales of 7.9%, and alternatively fuelled cars achieving a 1.4% share of the total market demonstrating that motorists are purchasing more economical vehicles. Not particularly surprising when you take into consideration the ever increasing price of fuel.

SMMT – The Society of Motor Manufacturers and Traders say; “Despite a dip versus 2010, the market remains on course to meet SMMT’s forecast for the year with motorists buying increasingly fuel efficient and low emitting vehicles across every segment.”

The market is expected to decline further over quarter two before stabilising and recovering in the second half of the year.

In 2009, Autoquake.com was flying high and seemingly had the used car world at their feet. They had over 120 employees, and had just received the best dealer website from AM and the ‘Internet award’ from the Fleet world magazine. Today, the story is tragically different different, on the 17^th March 2011, Autoquake filed for administration. Where did it all go wrong?

Who are Autoquake?

Described on their website as the UK’s largest online used car supermarket, Autoquake operated within the used car and car leasing market. Founded back in 2005, the company was funded by Accel Partners and Highland Capital partners. The sales figures for 2008 showed that Autoquake had sold roughly 5,000 used cars, and, by the beginning of 2009 their website had received the 3^rd most hits of any used car website in the United Kingdom.

What Happened?

There has been a lot of speculation in the press surrounding the demise of Autoquake. The website currently remains operational, there is however a large message at the top of the home page informing potential buyers that the company is in administration and that the website remains active purely for informative purposes; no reservations or deposits are being taken for any of the vehicles listed on the site.

Company CEO Dermot Halpin discussed the downfall of the business with the media on the 25^th March, explaining that the company had gone under due to “financing issues”.

He went onto say that the original site owners had no idea that Autoquake would become so successful in such a short space of time; this did them no favours in the long run. The final nail in the coffin came as two deals that Autoquake were involved in fell through; Halpin said: “’We were in two deals – one buying something and the other was that we were merging with something. We were hedging our bets and that can fall apart very quickly. One of the deals fell apart and the financier said that the risk of giving us the bridging loan was too high and so we didn’t get it. Game over.’

Halpin finished the meeting with a sense of humour. He joked; “Just as we were sending out the administration notice, we were notified by Hitwise that we had won an award – we were in the top five online in 2010.”

Helping Hand

All may not be lost for Autoquake; rumours were circulating that retail giant Tesco may acquire Autoquake, as they where looking to get into the used car market. It appears for now that Tesco will not be the saviors they are looking for, having already made their entrance into the used car market over the weekend. Perhaps however, someone else out there will be able to throw them a lifeline. Autoquake has a large customer base, which would be a big incentive to any potential buyer.

The annual Geneva motor show is one of the most prestigious award events in the automotive calendar. Just as the Oscars are to film the Geneva motor show is to the car industry. It therefore, goes without saying that any car receiving an award at this respected event gains a certain level of respect in its field.

Destroying competition from Alfa Romeo and the reputable Audi A7, the Range Rover Evoque picked up the award for best production car, at the 2010 show. This particular award is decided by various designers, and motoring company directors.

This award, while probably the most prestigious, was not the only one that the Range Rover Evoque was bestowed with. A respected Czech publication gave the car its ‘Auto Design and Styling’ as well as ‘Best SUV of 2011? at its 2011 awards. It was also voted the most exciting car of 2011 by consumers at Whatcar.com the Evoque has also gone on to win several smaller awards throughout Europe during production.

The new Range Rover received remarkable reviews throughout 2010; Eric Gallina (from car design news) said: “The Evoque represents the best translation from concept car to production vehicle we have seen in recent times. It’s clear to see why it was chosen.”

Range Rover clearly has confidence in the cars retail ability, they have made a four part design documentary, the first of which was shown at the awards with the other three to be released over the coming months.

Despite the 2011 awards having already come and gone, with a new best production car, there is still a large amount of excitement surrounding the new Evoque. Range Rovers intention to release the car shortly is causing a certain level of hysteria among Range Rover fans. The UK government have added to this excitement by backing the production of this car (due to its low emissions) with £27 million. The car due to be released later this year will go into production in three and five door models, with options for either a petrol or diesel engine.

Due to the amount of press surrounding the car, coupled with the fact it has won so many design awards, we feel this car could potentially go on to become one of the bestselling 4×4’s of 2011/2012 and may even become one of the most successful Range Rovers of all time.