Latest / Motor Trade Radio / 📣 JULY REVIEWED: Last month's new car regs and used retailing trends. Top priorities for car buyers. Outcomes for Big Motoring World and Blue Motor Finance (E48, S12)

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📣 JULY REVIEWED: Last month's new car regs and used retailing trends. Top priorities for car buyers. Outcomes for Big Motoring World and Blue Motor Finance (E48, S12) · Motor Trade Radio

• 0:04
  Speaker: Hello and welcome to the Motor Trade Radio podcast powered by
• 0:08
  Speaker: Cazoo with Philip Northward and Curtis Hutchinson bringing you
• 0:13
  Speaker: all the chatter that matters across the car retailing sector
• 0:17
  Speaker: from factory to forecourt.
• 0:25
  Speaker: Well, you know what, Philip?
• 0:26
  Speaker: I think we're still a bit too
• 0:28
  Speaker: early for silly season because
• 0:30
  Speaker: putting together the headlines
• 0:31
  Speaker: for this week's pod, there's
• 0:33
  Speaker: plenty going on in the industry
• 0:36
  Speaker: as ever.
• 0:37
  Speaker: Yeah, yeah.
• 0:38
  Speaker: And obviously we're in mid of the the school holidays and some
• 0:42
  Speaker: of the emails a little bit low, but that's not affecting the
• 0:45
  Speaker: headlines at the minute is it still still very strong.
• 0:48
  Speaker: Yes.
• 0:50
  Speaker: You're getting plenty of out of
• 0:52
  Speaker: office responses to emails as
• 0:54
  Speaker: well then.
• 0:55
  Speaker: Yes.
• 0:55
  Speaker: Everybody is getting those those holidays in.
• 0:57
  Speaker: But yeah, it'll soon change.
• 0:59
  Speaker: It will soon change as they all come back and get back to kind
• 1:03
  Speaker: of normal business.
• 1:04
  Speaker: So we've got a quite a busy show this week, haven't we, Curtis?
• 1:09
  Speaker: But we have got one sort of
• 1:10
  Speaker: shout out first, because it was
• 1:12
  Speaker: one that we mentioned last week
• 1:13
  Speaker: and we did actually manage to
• 1:15
  Speaker: catch up with Felipe didn't we,
• 1:16
  Speaker: this week.
• 1:17
  Speaker: Yes.
• 1:17
  Speaker: Felipe Monos, our one of our favorite analysts.
• 1:22
  Speaker: Um, you know, we've been following him for some time.
• 1:25
  Speaker: He used to work for Jato.
• 1:27
  Speaker: He's now independent, uh, operating on his own.
• 1:31
  Speaker: And, um, it's what surprised me was that it was quite a while
• 1:35
  Speaker: since we last had him on.
• 1:36
  Speaker: It was about eighteen months ago, so we had a good catch up
• 1:40
  Speaker: with him during the week.
• 1:41
  Speaker: And what we did was we focused
• 1:44
  Speaker: on the Chinese brands, his take
• 1:47
  Speaker: on how the Chinese brands are
• 1:49
  Speaker: expanding, primarily in Europe,
• 1:52
  Speaker: but also other international
• 1:54
  Speaker: markets.
• 1:55
  Speaker: And, you know, he had some great insight that he shared with us.
• 1:58
  Speaker: Yeah.
• 1:59
  Speaker: I mean, we will play a small
• 2:01
  Speaker: snippet of that at the halfway
• 2:03
  Speaker: point.
• 2:03
  Speaker: But again, as we say with these kind of things, you know, do
• 2:06
  Speaker: listen to the full, full interview because as Curtis said
• 2:09
  Speaker: there we talk about the Chinese new entrance, but thinking about
• 2:11
  Speaker: more of their strategies, their strategy to entry, their
• 2:15
  Speaker: investment in plant and factories in local markets
• 2:19
  Speaker: because of, obviously, the things going on with the Nissan
• 2:22
  Speaker: plant and the plant over there in Valencia with with Ford.
• 2:27
  Speaker: So don't miss it.
• 2:28
  Speaker: And we're going to try and get we did say to to Philip, we'll
• 2:31
  Speaker: try and get him on on a regular basis that it's not quite as
• 2:34
  Speaker: long since we last spoke to him.
• 2:35
  Speaker: Couldn't believe it was eighteen
• 2:36
  Speaker: months, Curtis when he did say
• 2:37
  Speaker: that.
• 2:37
  Speaker: But we will try and get him on, on a more a more frequent basis,
• 2:42
  Speaker: just to keep us updated with what's going on in the market.
• 2:49
  Speaker: If you're a supplier and would
• 2:50
  Speaker: like us to profile your business
• 2:52
  Speaker: and reach our audience of dealer
• 2:54
  Speaker: group bosses, Managers and
• 2:56
  Speaker: decision makers on one of our
• 2:58
  Speaker: motor trade radio supplier
• 3:00
  Speaker: special episodes.
• 3:02
  Speaker: Then get in touch at Motortrade radio at yahoo dot com.
• 3:11
  Speaker: So companies already featured in our supply specials include
• 3:15
  Speaker: impel, prospecting dynamics, ETX, and generational.
• 3:20
  Speaker: And we're recording a new one over the course of the next
• 3:23
  Speaker: couple of weeks.
• 3:23
  Speaker: So we'll keep you posted on that.
• 3:26
  Speaker: But, uh, if you would like us to
• 3:28
  Speaker: profile your business, then just
• 3:30
  Speaker: message Phillip and myself at
• 3:32
  Speaker: motortrade radio at yahoo dot
• 3:35
  Speaker: com.
• 3:38
  Speaker: You're listening to the motor radio podcast powered by Cazoo.
• 3:46
  Speaker: Headlines this week come from Car dealer, motor trader a m and
• 3:50
  Speaker: Motor Trade News.
• 3:52
  Speaker: So in the first half of this week's show, we have the full
• 3:56
  Speaker: lowdown on July's new car and van registrations from the Smmt.
• 4:01
  Speaker: And spoiler alert they're both up.
• 4:04
  Speaker: They're both positive.
• 4:05
  Speaker: Along with top analyst Harry Bott's take on how the Chinese
• 4:10
  Speaker: brands performed over the course of the month.
• 4:13
  Speaker: Plus, Philip's round up of new
• 4:15
  Speaker: car sales across Europe and the
• 4:17
  Speaker: US.
• 4:18
  Speaker: We'll also have a round up of the main news car retailing
• 4:22
  Speaker: trends reported by the latest Cazoo market view.
• 4:27
  Speaker: Then in the second half, we'll
• 4:28
  Speaker: look at some new research by
• 4:30
  Speaker: Codeweavers on what's driving
• 4:33
  Speaker: decisions among car buyers at
• 4:35
  Speaker: the moment.
• 4:36
  Speaker: And we'll finish off with
• 4:38
  Speaker: updates on two businesses that
• 4:40
  Speaker: have been making news in recent
• 4:43
  Speaker: months, with the latest outcomes
• 4:45
  Speaker: for big motoring world and Blue
• 4:48
  Speaker: finance.
• 4:51
  Speaker: You're listening to the Motor
• 4:52
  Speaker: Trade Radio podcast powered by
• 4:56
  Speaker: Cazoo.
• 4:59
  Speaker: So as Curtis said, we're heading over to the new car registration
• 5:04
  Speaker: results and then we'll talk about the results.
• 5:07
  Speaker: But the headline is that July new car registrations jumped
• 5:11
  Speaker: eleven point seven percent as electric car sales soar.
• 5:16
  Speaker: And this is that July saw a near
• 5:18
  Speaker: twelve percent rise in new car
• 5:20
  Speaker: registrations.
• 5:21
  Speaker: Figures were boosted by a huge
• 5:24
  Speaker: increase in EV sales, and the
• 5:26
  Speaker: Ford Puma was July's top seller
• 5:29
  Speaker: and the Renault five was the the
• 5:32
  Speaker: top EV.
• 5:34
  Speaker: So I think there was no I mean, it's a great result for the
• 5:37
  Speaker: month of July, but I think we expected it to be a reasonably
• 5:40
  Speaker: strong month as well, didn't we.
• 5:41
  Speaker: Yeah.
• 5:41
  Speaker: As you say.
• 5:42
  Speaker: Um it's a good showing for the
• 5:44
  Speaker: market up eleven point seven
• 5:46
  Speaker: percent.
• 5:47
  Speaker: So that's just over Fifty six thousand units sold in the
• 5:53
  Speaker: month, which brings the year to date figure up by nine point
• 5:58
  Speaker: four eight percent to around well just over one point two one
• 6:03
  Speaker: point three million.
• 6:04
  Speaker: So yeah, the new car market is looking healthy at the moment.
• 6:08
  Speaker: And one of the things that the Smmt and the press release
• 6:12
  Speaker: really sort of pulled out was the relative success of EVs and
• 6:18
  Speaker: EV demand, because registrations were up forty four point five
• 6:23
  Speaker: percent, although the Smmt did actually point out that this
• 6:27
  Speaker: compares with fairly low uptake twelve months ago in July twenty
• 6:32
  Speaker: twenty five, because customers were delaying their purchases.
• 6:36
  Speaker: Waiting for the full details of
• 6:39
  Speaker: the electric car grants to to be
• 6:41
  Speaker: released.
• 6:42
  Speaker: But that's not to take away
• 6:43
  Speaker: from, you know, positive cells,
• 6:45
  Speaker: therefore EVs.
• 6:47
  Speaker: No, as you say, I mean, if you look at July in isolation, that
• 6:53
  Speaker: takes the EV market share to twenty seven point five percent.
• 6:56
  Speaker: And as you say, for July of last year, it was down at twenty one
• 7:00
  Speaker: point three percent, as you said, that buyers did did delay
• 7:04
  Speaker: hybrid electrics or the HGV sector grew eleven point six
• 7:09
  Speaker: percent in the month, taking that to a thirteen point two
• 7:13
  Speaker: percent market share.
• 7:15
  Speaker: Plug in hybrid grew thirty three point six percent.
• 7:18
  Speaker: So still strong result there in
• 7:20
  Speaker: plug in hybrid, taking that on
• 7:21
  Speaker: to a fourteen point nine percent
• 7:24
  Speaker: market share.
• 7:25
  Speaker: Um petrol softened slightly, down five point two percent to
• 7:29
  Speaker: just over sixty two thousand seven hundred ninety nine
• 7:34
  Speaker: registrations there in July, taking their market share down
• 7:37
  Speaker: from forty seven point three percent in twenty twenty five in
• 7:41
  Speaker: July, down to forty point one percent in July of this year.
• 7:46
  Speaker: And diesel, He's still hanging on in there.
• 7:49
  Speaker: It's it's it's dropped from a five point seven percent market
• 7:52
  Speaker: share in twenty twenty five down to four point two percent market
• 7:55
  Speaker: share this year.
• 7:57
  Speaker: That's a drop of seventeen point
• 7:58
  Speaker: seven percent over the year,
• 8:01
  Speaker: down to just short of six point
• 8:04
  Speaker: six six six six thousand six
• 8:06
  Speaker: hundred.
• 8:06
  Speaker: Get me get Me numbers out to six
• 8:08
  Speaker: thousand six hundred
• 8:09
  Speaker: registrations there for for
• 8:11
  Speaker: diesel.
• 8:11
  Speaker: But as Curtis said there the year to date, which sets, you
• 8:15
  Speaker: know, it kind of sets the scene a little bit of what we're
• 8:17
  Speaker: expecting now for the full year, you know, nine point five
• 8:21
  Speaker: percent year to date and to just short of one point three million
• 8:26
  Speaker: EV taking twenty five point three percent, which obviously
• 8:30
  Speaker: does my cars does call out again in terms of still quite shy of
• 8:34
  Speaker: the the Zev mandate threshold for twenty twenty six plug in
• 8:39
  Speaker: hybrid, fourteen point zero nine percent share year to date.
• 8:43
  Speaker: Um, plug in hybrid Thirteen point two five percent.
• 8:47
  Speaker: Market share petrol forty two point seven eight percent market
• 8:51
  Speaker: share and diesel just below that five percent at four point five
• 8:56
  Speaker: seven percent market share.
• 8:58
  Speaker: So I think, you know, as the story does indicate, EV is the
• 9:02
  Speaker: story for July.
• 9:03
  Speaker: But again, you know, it was a
• 9:05
  Speaker: low month last year won't it for
• 9:06
  Speaker: the market.
• 9:07
  Speaker: Yeah, very much so.
• 9:08
  Speaker: And demand grew across all sectors with private buyer.
• 9:14
  Speaker: So retail uptake rising twelve point six percent.
• 9:18
  Speaker: Fleet was up nine point five percent.
• 9:20
  Speaker: And lower volume business
• 9:22
  Speaker: segments was up by sixty one
• 9:25
  Speaker: percent.
• 9:26
  Speaker: And just looking through some of
• 9:28
  Speaker: the winners and losers for the
• 9:30
  Speaker: month.
• 9:31
  Speaker: And what I'll do is I'll exclude
• 9:33
  Speaker: the Chinese brands because
• 9:34
  Speaker: they're very much covered by
• 9:36
  Speaker: Harry Bosch.
• 9:37
  Speaker: And we'll go through his analysis at the moment.
• 9:39
  Speaker: So if we look at some of the more established players in
• 9:43
  Speaker: terms of winners, BMW was up two percent for the month.
• 9:49
  Speaker: Citroen was up a whopping fifty six percent for the month.
• 9:53
  Speaker: Um, Kia was up or just under one percent, and really other
• 9:59
  Speaker: notable ones included the likes of Suzuki up six percent, Toyota
• 10:05
  Speaker: up sixteen percent.
• 10:07
  Speaker: Um, Volkswagen was up by four
• 10:11
  Speaker: point four and a half percent
• 10:13
  Speaker: and Vauxhall a strong showing
• 10:16
  Speaker: for Vauxhall, up nineteen
• 10:17
  Speaker: percent.
• 10:18
  Speaker: And just some of the some of the losers um Dacia was down by nine
• 10:25
  Speaker: point six percent.
• 10:26
  Speaker: Ford was down fifteen point four percent, Hyundai down nineteen
• 10:31
  Speaker: percent and Tesla particularly bad month for Tesla.
• 10:36
  Speaker: They were down forty eight percent.
• 10:38
  Speaker: Yeah.
• 10:39
  Speaker: And in the Smmt story I won't Do try and replicate Curtis's top
• 10:45
  Speaker: ten, but Puma is holding third position for July and the year
• 10:51
  Speaker: to date Nissan Qashqai came second in July, but the.
• 10:56
  Speaker: The year to date is holding fourth position there for the.
• 11:00
  Speaker: For the cash cow, the Kia Sportage in third place there.
• 11:04
  Speaker: But that holds the second place for for year to date and the
• 11:08
  Speaker: year to date is held in third position by the j Q seven.
• 11:13
  Speaker: Um so yeah, the a bit of a sort of a bit of consistency there in
• 11:17
  Speaker: terms of the July versus the year to date, but a little bit
• 11:20
  Speaker: of a move around of, you know, what's coming in there because,
• 11:23
  Speaker: you know, J. Q five is in its seventh position there in the
• 11:26
  Speaker: month of July.
• 11:27
  Speaker: So it looks like the J Q five is going to be sort of creeping in
• 11:30
  Speaker: there in terms of that top ten for the year to date.
• 11:34
  Speaker: Yeah.
• 11:35
  Speaker: That's, that's a good thing for J. Q isn't it.
• 11:38
  Speaker: Which sort of moves us on to Harry Bott's analysis, which.
• 11:42
  Speaker: What we'll do in the newsletter that goes out on Monday morning,
• 11:45
  Speaker: we'll put a link to his LinkedIn post, which has his analysis,
• 11:51
  Speaker: but it's also got his charts.
• 11:53
  Speaker: And Philip and I are both big fans of the charts that he
• 11:57
  Speaker: produces because he breaks down the Chinese brands by brand.
• 12:01
  Speaker: Um, and according to whether
• 12:04
  Speaker: they're a new entrant or an
• 12:05
  Speaker: established player like M G and
• 12:08
  Speaker: he includes Volvo as, as an
• 12:11
  Speaker: established player as well, but
• 12:13
  Speaker: looking at his analysis, so
• 12:16
  Speaker: Chinese new entrants now have a
• 12:19
  Speaker: twelve point one percent market
• 12:21
  Speaker: share.
• 12:22
  Speaker: And that's actually up from six point three percent last year.
• 12:26
  Speaker: So that's doubled.
• 12:27
  Speaker: And just in July alone, the new
• 12:30
  Speaker: entrant brands took a fourteen
• 12:33
  Speaker: point eight percent share of the
• 12:35
  Speaker: market.
• 12:36
  Speaker: So that really does reinforce what we were just saying about
• 12:40
  Speaker: the market was very much driven by EV and Chinese brands.
• 12:45
  Speaker: And he does actually pick out some of the individual brands.
• 12:49
  Speaker: So Chery Automobile Company, the
• 12:52
  Speaker: the parent group representing
• 12:55
  Speaker: Chery Motor and JQ now have a
• 12:58
  Speaker: combined six point four percent
• 13:01
  Speaker: market share year to date and
• 13:03
  Speaker: seven point seven percent in
• 13:05
  Speaker: July.
• 13:06
  Speaker: So there's some big figures there, aren't there?
• 13:08
  Speaker: Phil there is.
• 13:09
  Speaker: Yeah.
• 13:09
  Speaker: And you know, he's sort of
• 13:10
  Speaker: highlighting there some of those
• 13:12
  Speaker: shifts and some of the, you
• 13:13
  Speaker: know, where these these new
• 13:15
  Speaker: entrants are starting to pick up
• 13:17
  Speaker: pace now.
• 13:18
  Speaker: And, you know, whether they, as you say, they I mean, you look
• 13:21
  Speaker: at you look at JQ coming in, you know, as a as a market share at
• 13:26
  Speaker: three point five percent in, in, uh, in the month.
• 13:30
  Speaker: Um, you know, some big, big moves there.
• 13:33
  Speaker: BYD four point two percent.
• 13:35
  Speaker: So again, you kind of you look at what's what's happening here
• 13:39
  Speaker: in, in that sort of new entrance coming up from behind.
• 13:42
  Speaker: And, you know, we saw what BYD did over that sort of two years
• 13:48
  Speaker: thereabouts in the market.
• 13:50
  Speaker: Then we've seen what Jacob was doing and now we've got Geely,
• 13:52
  Speaker: we've got Chery, we've got Shanghai and and all the others
• 13:55
  Speaker: that are just picking up that pace out there month on month.
• 13:58
  Speaker: So it's going to be, as we continue through the year and
• 14:01
  Speaker: read these numbers out, it's it's going to get more and more
• 14:04
  Speaker: fascinating of, you know, who are the ones picking up that
• 14:07
  Speaker: that pace going forward.
• 14:08
  Speaker: Yeah.
• 14:09
  Speaker: And he does actually make an interesting point about JQ.
• 14:12
  Speaker: So JQ obviously owned by Geely who also own Volvo.
• 14:16
  Speaker: So in the year to date, JQ have sold thirty nine and a half
• 14:21
  Speaker: thousand units compared with Volvo at forty thousand units.
• 14:25
  Speaker: So he does actually ask the question, um, how will that look
• 14:29
  Speaker: by the end of the year?
• 14:30
  Speaker: And the suggestion is that, uh
• 14:33
  Speaker: Jacob will be overtaking its, uh
• 14:35
  Speaker: well it was its senior partner,
• 14:37
  Speaker: Volvo.
• 14:38
  Speaker: Yeah.
• 14:39
  Speaker: As I say, it's not just about the competitors and established
• 14:42
  Speaker: brands, it's brands within their own parent company.
• 14:45
  Speaker: And that's playing out with this one.
• 14:47
  Speaker: But we'll continue to bring you that as we get the information.
• 14:52
  Speaker: We have got some of the European numbers in.
• 14:55
  Speaker: Not all of them were still
• 14:56
  Speaker: waiting on France and Germany at
• 14:58
  Speaker: the minute.
• 14:59
  Speaker: Um, just to put it in context, Italy grew three point nine
• 15:03
  Speaker: percent to one hundred and twenty three thousand two
• 15:05
  Speaker: hundred registrations in July, similar with Spain, up three
• 15:10
  Speaker: point seven percent.
• 15:12
  Speaker: Um, just just short of one hundred and two thousand
• 15:15
  Speaker: registrations there in Spain.
• 15:18
  Speaker: And the US actually fell in the month of July in the US.
• 15:21
  Speaker: So they fell one point six
• 15:23
  Speaker: percent, just down to one point
• 15:25
  Speaker: four million in the in the US
• 15:28
  Speaker: there.
• 15:28
  Speaker: So, you know, some of those
• 15:30
  Speaker: early, early numbers that are
• 15:31
  Speaker: starting to come in from from
• 15:33
  Speaker: other marketplaces And just to
• 15:36
  Speaker: finish off with the new markets,
• 15:38
  Speaker: new registrations.
• 15:40
  Speaker: Have a have a look at the van registrations.
• 15:43
  Speaker: And the headline from Motor Trader is July.
• 15:46
  Speaker: Pickup sales plummet fifty three percent in ten month freefall.
• 15:51
  Speaker: That's um, that's an angle that we'll look at in a moment.
• 15:55
  Speaker: But I think really the big story
• 15:57
  Speaker: here is that the new LCV market
• 16:01
  Speaker: actually rose by twenty two
• 16:03
  Speaker: percent in July to just over
• 16:06
  Speaker: twenty eight and a half thousand
• 16:08
  Speaker: units.
• 16:09
  Speaker: Uh, July marks the fourth
• 16:12
  Speaker: consecutive month of growth as
• 16:14
  Speaker: year to date registrations
• 16:16
  Speaker: reached just over one hundred
• 16:18
  Speaker: and eighty seven thousand units,
• 16:20
  Speaker: and that's up four point three
• 16:21
  Speaker: percent on the same period last
• 16:25
  Speaker: year.
• 16:25
  Speaker: So a positive story there for the overall LCV market.
• 16:29
  Speaker: But, uh, as I say, what motor
• 16:31
  Speaker: trade are focused on was pick
• 16:33
  Speaker: ups, which, uh, and we've talked
• 16:36
  Speaker: about this a number of times
• 16:40
  Speaker: over recent months about the
• 16:42
  Speaker: decline of, of the pickup
• 16:44
  Speaker: market, um, really down to the
• 16:46
  Speaker: change in the legislation as a
• 16:48
  Speaker: result of, um, the last budget,
• 16:51
  Speaker: which kicked in in April last
• 16:53
  Speaker: year.
• 16:54
  Speaker: And so they declined for the tenth month in a row, down fifty
• 16:58
  Speaker: three percent to eight hundred and eighty eight units.
• 17:00
  Speaker: But as I say, I think the big story here is the continued
• 17:04
  Speaker: recovery of the LCV market.
• 17:08
  Speaker: Yeah.
• 17:08
  Speaker: Like you say, I think in general it's a it's a good story.
• 17:11
  Speaker: I think you say, you know, those
• 17:12
  Speaker: pickups, those double cab
• 17:14
  Speaker: pickups.
• 17:15
  Speaker: We know why that is.
• 17:16
  Speaker: I mean, yesterday they're down fifty five point seven percent
• 17:19
  Speaker: year on year.
• 17:20
  Speaker: So you know that's that is
• 17:21
  Speaker: obviously a decline in market
• 17:23
  Speaker: share.
• 17:23
  Speaker: It'll get to a plateau point won't it.
• 17:25
  Speaker: And then start to level out.
• 17:27
  Speaker: So you know next year we'll be talking about these numbers and
• 17:29
  Speaker: it'll be Minimal change.
• 17:31
  Speaker: It's just the back of the the taxation changes there.
• 17:35
  Speaker: But as you say, I think, you
• 17:36
  Speaker: know, all in all, with what's
• 17:37
  Speaker: going on in the economy and
• 17:38
  Speaker: everything else, I think a great
• 17:40
  Speaker: story for the commercial
• 17:41
  Speaker: vehicles there.
• 17:43
  Speaker: But we're heading over to motor trade News.
• 17:46
  Speaker: And this is I know it's
• 17:47
  Speaker: something that you have been
• 17:49
  Speaker: involved with, Curtis, that
• 17:50
  Speaker: dealers not meeting used EV and
• 17:53
  Speaker: hybrid demand.
• 17:55
  Speaker: Cazoo fine saying searches for used EVs on on Cazoo doubled
• 18:01
  Speaker: year on year in July, whilst EVs accounted for six point nine
• 18:05
  Speaker: percent of all Cazoo listings, compared to six point five six
• 18:12
  Speaker: point five percent last year.
• 18:14
  Speaker: Which is interesting reading, isn't it?
• 18:17
  Speaker: It is.
• 18:17
  Speaker: Yeah.
• 18:18
  Speaker: So, um, it's really looking at how strong buyer demand for used
• 18:22
  Speaker: EVs and hybrids were over the course of July was not matched
• 18:28
  Speaker: by Is supply.
• 18:29
  Speaker: So what Kouzou found and I say I did work with them.
• 18:34
  Speaker: The team at Kouzou on this for their market view.
• 18:39
  Speaker: The searches for EVs on Kouzou
• 18:42
  Speaker: doubled year on year and
• 18:44
  Speaker: increased fourteen percent for
• 18:47
  Speaker: hybrids.
• 18:48
  Speaker: However, these alternative fuel
• 18:50
  Speaker: vehicles only represented
• 18:53
  Speaker: seventeen point eight percent of
• 18:55
  Speaker: cars listed by dealers, and
• 18:57
  Speaker: that's only marginally ahead of
• 18:59
  Speaker: where we were in July last year
• 19:02
  Speaker: at seventeen point four percent
• 19:04
  Speaker: and certainly down on on the
• 19:06
  Speaker: peak that was achieved in March
• 19:08
  Speaker: this year of twenty one point
• 19:10
  Speaker: three percent.
• 19:12
  Speaker: And as you mentioned, EVs
• 19:13
  Speaker: accounted for six point nine
• 19:15
  Speaker: percent of listings, compared to
• 19:17
  Speaker: six point five percent in June
• 19:20
  Speaker: and six point five percent last
• 19:22
  Speaker: year.
• 19:22
  Speaker: While hybrids dipped month on month from Ten point nine
• 19:28
  Speaker: percent, so very much on a par with last year's.
• 19:31
  Speaker: So it's really highlighting the opportunity there is there now
• 19:35
  Speaker: for used EVs in particular.
• 19:39
  Speaker: Yeah.
• 19:39
  Speaker: And I mean, it's always great detail within the Cazoo market
• 19:43
  Speaker: view because it goes into sort of average days to sell.
• 19:46
  Speaker: It goes into average prices.
• 19:47
  Speaker: So the average price of used cars listed on Cazoo was down
• 19:52
  Speaker: for the third consecutive month, reaching seventeen thousand
• 19:57
  Speaker: three hundred and ninety seven, a decrease of zero point four
• 20:00
  Speaker: percent month on month.
• 20:02
  Speaker: The average EV listed on Cazoo in the month of July was priced
• 20:06
  Speaker: at twenty four thousand two hundred, whereas hybrids were
• 20:09
  Speaker: priced at twenty four thousand two hundred and fifty nine.
• 20:13
  Speaker: And saying that the July price
• 20:14
  Speaker: drop was seen across all vehicle
• 20:17
  Speaker: age groups aside from cars over
• 20:20
  Speaker: ten years old, which were up
• 20:23
  Speaker: zero point seven percent month
• 20:24
  Speaker: on month and Five percent year
• 20:26
  Speaker: on year.
• 20:27
  Speaker: So some good insight there in terms of that, you know, the age
• 20:29
  Speaker: profile, particularly on those over ten year old cars.
• 20:32
  Speaker: Curtis.
• 20:33
  Speaker: Yeah, definitely.
• 20:34
  Speaker: And what we'll do is we'll put a link to the story in the
• 20:38
  Speaker: newsletter, as well as a link to the press release, which has
• 20:42
  Speaker: even more detail.
• 20:44
  Speaker: Well, after the break, we'll be back after an extract from our
• 20:47
  Speaker: interview with Philippe Monos.
• 20:50
  Speaker: You're listening to all the chatter that Matters on the
• 20:54
  Speaker: Motor Trade Radio podcast powered by Cazoo.
• 20:59
  Speaker: And Philip, um, you know, staying with Europe, with the UK
• 21:04
  Speaker: sitting outside of the EU now, how much more attractive is the
• 21:10
  Speaker: UK market for Chinese brands looking for fast growth and
• 21:15
  Speaker: coming into Europe.
• 21:17
  Speaker: Look it is it is a very, very attractive and I would say the
• 21:22
  Speaker: most attractive market for the Chinese car makers carmakers
• 21:24
  Speaker: right now in Europe because, you know, it's not part of the EU.
• 21:30
  Speaker: So it doesn't it doesn't have to
• 21:33
  Speaker: follow the the trade rules
• 21:36
  Speaker: imposed by the European
• 21:38
  Speaker: Commission.
• 21:39
  Speaker: Uh, so making of the UK, let's
• 21:41
  Speaker: say, uh, a more open market to
• 21:43
  Speaker: imports.
• 21:44
  Speaker: And, uh, and actually you can see those, uh, that, that, that,
• 21:50
  Speaker: um, in, in the figures, the UK is now the biggest market for a
• 21:59
  Speaker: Chinese car brands in Europe ahead of Germany and not only in
• 22:04
  Speaker: terms of volume, but also in terms of market share.
• 22:07
  Speaker: A and this is the consequence of
• 22:11
  Speaker: less restrictions, a, a consumer
• 22:15
  Speaker: base that is more open to new
• 22:17
  Speaker: brands, the UK, unlike Germany
• 22:21
  Speaker: and France.
• 22:22
  Speaker: Uh, Its car industry is less.
• 22:26
  Speaker: Its local car industry is less big and less and less powerful.
• 22:32
  Speaker: So it's easier for new entries to gain traction.
• 22:37
  Speaker: And this is exactly what is going on in the UK between.
• 22:41
  Speaker: During the first half of this
• 22:43
  Speaker: year, the Chinese car makers and
• 22:47
  Speaker: the Chinese car brands, which
• 22:49
  Speaker: is.
• 22:50
  Speaker: This is important to to to
• 22:51
  Speaker: clarify here, because one thing
• 22:53
  Speaker: is Chinese car brand and a
• 22:55
  Speaker: different thing is a Chinese
• 22:56
  Speaker: car, because there are many cars
• 22:59
  Speaker: produced by traditional car
• 23:00
  Speaker: makers in China and exported to
• 23:03
  Speaker: the world.
• 23:03
  Speaker: When I talk about the Chinese car brands, I exclude those.
• 23:07
  Speaker: So I'm excluding, for example,
• 23:08
  Speaker: the Tesla Model three coming
• 23:10
  Speaker: from China.
• 23:11
  Speaker: I don't include a Chinese brand.
• 23:13
  Speaker: So a the numbers for the Chinese car brands show that this.
• 23:19
  Speaker: That they are.
• 23:20
  Speaker: They already have more than fifteen percent market share in
• 23:24
  Speaker: the UK, which is one of the highest in Europe.
• 23:27
  Speaker: I would say the highest, I would
• 23:28
  Speaker: say, is more than what you see
• 23:31
  Speaker: in Spain or Italy, where they
• 23:32
  Speaker: have also gained a lot of
• 23:33
  Speaker: traction.
• 23:34
  Speaker: So yes, the UK is, is, is the most appealing market for them
• 23:37
  Speaker: right now in the in Europe.
• 23:39
  Speaker: And that really supports the analysis from Harry Potter on
• 23:43
  Speaker: July's figures doesn't it.
• 23:45
  Speaker: Which yeah, we we spoke to Philippe before the July figures
• 23:49
  Speaker: came out, but, uh, some great insights in our conversation
• 23:54
  Speaker: with with Philip.
• 23:55
  Speaker: And I did think it was interesting that, uh, you know,
• 23:58
  Speaker: he identified the UK as the biggest market for Chinese
• 24:01
  Speaker: brands by volume and market share, um, outside of China.
• 24:07
  Speaker: Yeah.
• 24:07
  Speaker: No, I think that that's the
• 24:08
  Speaker: thing now, I mean, you know what
• 24:10
  Speaker: Philippe was trying to clarify,
• 24:12
  Speaker: you know, what is a Chinese
• 24:14
  Speaker: brand and what is product coming
• 24:16
  Speaker: out of China actually isn't
• 24:18
  Speaker: owned by a a Chinese
• 24:20
  Speaker: manufacturer wholly.
• 24:21
  Speaker: And, you know, we talked about on the podcast, aren't we, with
• 24:24
  Speaker: with the Nissan plant and the Ford Valencia plant.
• 24:27
  Speaker: And what does that mean for the future in these joint ventures,
• 24:31
  Speaker: these, you know, manufacturing tie ups and things like that.
• 24:34
  Speaker: But, you know, clearly, um, you know, Felipe sort of expanded on
• 24:39
  Speaker: some of that and, you know, we talked about gwm, didn't we,
• 24:42
  Speaker: within the interview with him.
• 24:43
  Speaker: And because obviously, you know, their challenge at the minute in
• 24:47
  Speaker: the UK, but he's not writing them out as a manufacturer.
• 24:50
  Speaker: He believes that they are going
• 24:51
  Speaker: to retrench and come out with
• 24:53
  Speaker: product that the market will be
• 24:55
  Speaker: interested in.
• 24:56
  Speaker: So yeah, I mean, as always, it's a it's a great chat with Felipe.
• 25:01
  Speaker: And if you said right at the start, if you've not listened to
• 25:04
  Speaker: the full interview, then I highly recommend you listen to
• 25:07
  Speaker: that full interview with Felipe and connect with him on the
• 25:11
  Speaker: social media channels as well.
• 25:13
  Speaker: Yeah.
• 25:14
  Speaker: And he also shared with us the.
• 25:16
  Speaker: So he looked at the, the established brands, the new
• 25:19
  Speaker: entrant brands, but also the brands that aren't here yet.
• 25:23
  Speaker: And he sort of rounded up brands
• 25:26
  Speaker: that are likely to be here
• 25:27
  Speaker: within the next twenty four
• 25:29
  Speaker: months.
• 25:29
  Speaker: So really good insight and
• 25:31
  Speaker: update on, on that part of the
• 25:33
  Speaker: market.
• 25:34
  Speaker: So as Philip says, do check out
• 25:36
  Speaker: the standalone episode in your
• 25:38
  Speaker: podcast feed.
• 25:40
  Speaker: Yeah, definitely.
• 25:40
  Speaker: So heading back to motor trade
• 25:42
  Speaker: news, and this is a story that's
• 25:44
  Speaker: come out of Codeweavers saying
• 25:46
  Speaker: that UK buyers name finance
• 25:49
  Speaker: affordability as top priority,
• 25:51
  Speaker: saying that the research also
• 25:53
  Speaker: highlighted the continued
• 25:55
  Speaker: importance of dealerships, as
• 25:58
  Speaker: fifty nine point five percent of
• 25:59
  Speaker: respondents visit one visited
• 26:02
  Speaker: one for their latest car
• 26:05
  Speaker: purchase.
• 26:06
  Speaker: So the I think this is based on
• 26:08
  Speaker: a report looking at the sort of
• 26:10
  Speaker: comparison between the UK car
• 26:12
  Speaker: buyers and the European car
• 26:14
  Speaker: buyers, and trying to identify
• 26:16
  Speaker: some of those behavioral changes
• 26:18
  Speaker: and differences between those
• 26:19
  Speaker: two marketplaces.
• 26:21
  Speaker: Yeah.
• 26:21
  Speaker: And no surprise, but it's, it's, it is, um, it's important to
• 26:26
  Speaker: have some these things confirmed from time to time, but no
• 26:30
  Speaker: surprise that, uh, it's all around affordable affordability
• 26:34
  Speaker: and monthly payments.
• 26:35
  Speaker: That's really what is engaging with buyers because they found
• 26:40
  Speaker: that fifty one percent of respondents said they wanted to
• 26:44
  Speaker: see which cars they could afford based on monthly payments.
• 26:49
  Speaker: And the research also highlighted the continued
• 26:51
  Speaker: importance of dealerships.
• 26:54
  Speaker: Um, at fifty nine point five
• 26:56
  Speaker: percent of respondents visited
• 26:58
  Speaker: one for their latest car
• 27:01
  Speaker: purchase.
• 27:02
  Speaker: And also it highlights that
• 27:04
  Speaker: during the buying process for
• 27:06
  Speaker: their most recent car, forty
• 27:09
  Speaker: seven percent of buyers UK
• 27:11
  Speaker: buyers visited dealer websites
• 27:13
  Speaker: Forty one.
• 27:15
  Speaker: Sorry.
• 27:15
  Speaker: Forty three percent visited the
• 27:17
  Speaker: OEMs website and twenty six
• 27:21
  Speaker: percent used social media for
• 27:24
  Speaker: vehicle research, with
• 27:26
  Speaker: Codeweavers saying that this
• 27:28
  Speaker: really shows that digital
• 27:30
  Speaker: channels are supporting and not
• 27:33
  Speaker: replacing the role of
• 27:34
  Speaker: dealerships.
• 27:36
  Speaker: Exactly.
• 27:36
  Speaker: We'll put a link to the report
• 27:38
  Speaker: on the newsletter on Monday
• 27:40
  Speaker: morning.
• 27:40
  Speaker: But just to highlight a couple
• 27:42
  Speaker: of the comparisons, because I
• 27:44
  Speaker: think the the motor trade news
• 27:45
  Speaker: story didn't really go into the
• 27:46
  Speaker: European comparison, but they do
• 27:49
  Speaker: look at the the UK and Germany
• 27:51
  Speaker: lead on digital omnichannel
• 27:54
  Speaker: maturity, with Germany recording
• 27:56
  Speaker: the highest fully online
• 27:59
  Speaker: purchase rate of twenty eight
• 28:01
  Speaker: point seven percent in the UK,
• 28:03
  Speaker: the highest mixed channel
• 28:05
  Speaker: purchase at twenty seven point
• 28:07
  Speaker: five percent.
• 28:08
  Speaker: Spain in Italy shows that that show high finance usage but
• 28:13
  Speaker: lower confidence, saying that only twenty seven percent in
• 28:16
  Speaker: Spain and twenty five percent in Italy described themselves as
• 28:21
  Speaker: very confident in finance understanding versus forty four
• 28:25
  Speaker: point two percent in the UK.
• 28:28
  Speaker: Despite the higher finance
• 28:30
  Speaker: penetration on both southern
• 28:32
  Speaker: marketplaces, and finally that
• 28:35
  Speaker: France stands apart as the most
• 28:38
  Speaker: finance cautious.
• 28:42
  Speaker: Dealerships dealership led markets with the.
• 28:46
  Speaker: The lowest finance transparency
• 28:49
  Speaker: emphasis at eighty two point
• 28:50
  Speaker: eight percent, the highest
• 28:53
  Speaker: leasing avoidance at forty six
• 28:55
  Speaker: point eight percent and just ten
• 28:57
  Speaker: point nine percent in completing
• 29:00
  Speaker: purchases via a mixed online or
• 29:02
  Speaker: offline journey.
• 29:04
  Speaker: So there is some fascinating
• 29:05
  Speaker: insight in there, doing a sort
• 29:07
  Speaker: of a UK to European um, finance
• 29:11
  Speaker: and consumer behavior in the
• 29:13
  Speaker: marketplace.
• 29:13
  Speaker: As I say, we'll add a link to
• 29:15
  Speaker: that on the the newsletter on
• 29:16
  Speaker: Monday morning.
• 29:18
  Speaker: And final two stories this week really wrap up a couple of
• 29:23
  Speaker: ongoing stories that, you know, we've certainly talked about in
• 29:27
  Speaker: recent weeks and months.
• 29:29
  Speaker: And the first one is from AM
• 29:31
  Speaker: online and the headline is court
• 29:33
  Speaker: Fines.
• 29:33
  Speaker: Big motoring world's founder faced unfair prejudice, but
• 29:38
  Speaker: dismissal was not wrong.
• 29:41
  Speaker: So I do urge you to check out the full story because it is
• 29:45
  Speaker: very, very detailed.
• 29:47
  Speaker: And as I say, this story has been rumbling on for what seems
• 29:51
  Speaker: to be quite a long time now.
• 29:53
  Speaker: But, you know, this is the final resolution from the High Court,
• 29:57
  Speaker: which found that big motoring world founder Peter Waddell has
• 30:02
  Speaker: won his High Court unfair prejudice petition against
• 30:07
  Speaker: private equity investor fresh stream over his ousting from the
• 30:13
  Speaker: used car supermarket group.
• 30:15
  Speaker: However, despite that victory, the judge concluded that
• 30:18
  Speaker: Wardell's conduct justified his dismissal for gross misconduct
• 30:24
  Speaker: from his role as chief exec of big motoring world back in
• 30:29
  Speaker: twenty twenty four.
• 30:30
  Speaker: So there's plenty to unpick in this story, isn't there?
• 30:34
  Speaker: There is, yeah.
• 30:35
  Speaker: And like I say, without I mean, this story landed just after
• 30:38
  Speaker: we'd recorded last week podcast, and there's been quite a bit of
• 30:42
  Speaker: social media chatter since this story and the results broke.
• 30:47
  Speaker: Um, I get the feeling it's not
• 30:49
  Speaker: going to end, um, from some of
• 30:52
  Speaker: the social comments that have
• 30:53
  Speaker: been coming out around this,
• 30:54
  Speaker: that I think there's still, um,
• 30:57
  Speaker: I think they both believe
• 30:58
  Speaker: they've won.
• 30:59
  Speaker: AM I right with that one?
• 31:00
  Speaker: Curtis.
• 31:01
  Speaker: Um, what I'm saying.
• 31:02
  Speaker: Yes.
• 31:02
  Speaker: Yeah.
• 31:03
  Speaker: I think you are right.
• 31:05
  Speaker: And um, it's one of those
• 31:07
  Speaker: stories that, I mean, for me, I
• 31:10
  Speaker: just wish it would just move on
• 31:12
  Speaker: now because it is there's a lot
• 31:16
  Speaker: of nitpicking in it, and I don't
• 31:19
  Speaker: think anyone's come out of it
• 31:20
  Speaker: looking terribly.
• 31:22
  Speaker: Um, well, no, no. And I say, I think there's going to be a
• 31:25
  Speaker: little bit more on this, just from what I've seen and heard in
• 31:29
  Speaker: the the media.
• 31:29
  Speaker: So we'll continue to bring you
• 31:31
  Speaker: the latest as it as it happens,
• 31:34
  Speaker: without being too sensational on
• 31:36
  Speaker: it.
• 31:36
  Speaker: But as I say, I think there'll be more on this to come.
• 31:39
  Speaker: But finally today, we'll head
• 31:40
  Speaker: over back to, to car dealer
• 31:43
  Speaker: magazine.
• 31:44
  Speaker: And this is the Hodge Bank says Blue Motor Finance is open for
• 31:50
  Speaker: new business after rescue deal.
• 31:52
  Speaker: Saying that the new owner
• 31:54
  Speaker: confirms dealer and broker
• 31:56
  Speaker: network will continue to be
• 31:59
  Speaker: supported.
• 32:00
  Speaker: The brand, the operations and
• 32:02
  Speaker: employees transfer to Hodge
• 32:05
  Speaker: following a Pre-pack
• 32:07
  Speaker: administration.
• 32:09
  Speaker: Historical compensation
• 32:10
  Speaker: liabilities remain with the
• 32:13
  Speaker: original business.
• 32:14
  Speaker: Now, obviously, the majority of
• 32:16
  Speaker: that is covered in the final
• 32:18
  Speaker: paragraph of the story, and this
• 32:20
  Speaker: is around the potential fifty
• 32:22
  Speaker: million exposure to the redress
• 32:26
  Speaker: compensation scheme that that
• 32:29
  Speaker: blue, blue, blue motor finance
• 32:32
  Speaker: could be liable to when it's
• 32:34
  Speaker: finally resolved.
• 32:35
  Speaker: Yeah.
• 32:36
  Speaker: And again, this is a story that was breaking just before we
• 32:40
  Speaker: recorded last week's episode.
• 32:42
  Speaker: And Car Dealer have been tracking it very closely.
• 32:45
  Speaker: And this is an update that they published this week.
• 32:49
  Speaker: And it looks like a good resolution because, uh, Hodge
• 32:52
  Speaker: Bank has reassured dealers that Blue Motor Finance, under its
• 32:57
  Speaker: ownership, is open for new business after completing its
• 33:01
  Speaker: rescue of the lender through this Pre-pack administration
• 33:05
  Speaker: deal, and the bank has confirmed that Blue Motor Finance is.
• 33:09
  Speaker: Brand operations and employees
• 33:11
  Speaker: have all transferred into Hodge
• 33:14
  Speaker: MF limited, ensuring the lender
• 33:16
  Speaker: will continue supporting its
• 33:18
  Speaker: dealer and broker network
• 33:20
  Speaker: despite entering administration
• 33:23
  Speaker: last week.
• 33:24
  Speaker: Yeah, and they do say that their immediate focus is on ensuring
• 33:29
  Speaker: smooth transition and maintaining high standards of
• 33:34
  Speaker: service for customers and partners, whilst providing
• 33:37
  Speaker: stability for their employees and saying that Blue Motor
• 33:42
  Speaker: Finance, operated by Hodge, MF, as you say, remains open for new
• 33:47
  Speaker: business and look forward to continuing support of its
• 33:50
  Speaker: dealers and broker network.
• 33:53
  Speaker: So I suppose in good news, it survived.
• 33:56
  Speaker: You know, I think probably the
• 33:57
  Speaker: worst would be that it went into
• 33:59
  Speaker: full administration and um,
• 34:01
  Speaker: gone.
• 34:02
  Speaker: Um, so yeah.
• 34:03
  Speaker: And again, but it is that, as I said earlier, that that final
• 34:07
  Speaker: statement that, uh, car dealer did cover that, uh, they were
• 34:12
  Speaker: potentially are exposed to a fifty million redress fine when
• 34:19
  Speaker: that eventually gets out.
• 34:20
  Speaker: But again, the liability stays
• 34:22
  Speaker: with blue motor finance as part
• 34:23
  Speaker: of this rescue package from
• 34:26
  Speaker: Hodge Bank.
• 34:27
  Speaker: So, um, we'll see what happens next on that one.
• 34:29
  Speaker: But that's all for this week isn't it.
• 34:31
  Speaker: So, uh, plenty of headlines there that we've covered.
• 34:34
  Speaker: Um, do check out, uh, the standalone episode we, we
• 34:38
  Speaker: recorded with Philippe Mano's, uh, really looking at those
• 34:42
  Speaker: Chinese brands, uh, new, established and forthcoming.
• 34:47
  Speaker: Yeah.
• 34:47
  Speaker: And connect with him.
• 34:48
  Speaker: He's, you know, if you're not, you know, if you ever, when
• 34:51
  Speaker: you're scrolling through your LinkedIn feed and you see these
• 34:55
  Speaker: graphs with all the Chinese manufacturers, how they're made
• 34:57
  Speaker: up and everything else, it's probably a Philippe Rose a graph
• 35:02
  Speaker: that is either coming from him directly or people are re
• 35:06
  Speaker: purposing for themselves.
• 35:08
  Speaker: So yeah, do connect with him and do listen to the full podcast
• 35:12
  Speaker: interview because we have those graphs, don't we?
• 35:14
  Speaker: Yeah, yeah, yeah.
• 35:15
  Speaker: I'm glad he does them.
• 35:16
  Speaker: Not me.
• 35:17
  Speaker: Um, yeah.
• 35:19
  Speaker: Doing it quietly in the background but we'll see.
• 35:22
  Speaker: Yeah.
• 35:22
  Speaker: And also many thanks to Harry Bock for sharing his insights
• 35:27
  Speaker: with us this week.
• 35:28
  Speaker: Much appreciated.
• 35:29
  Speaker: But, uh, that's all for now.
• 35:31
  Speaker: So many thanks to you for
• 35:32
  Speaker: listening to this Motortrade
• 35:34
  Speaker: radio podcast.
• 35:35
  Speaker: Until next time.
• 35:36
  Speaker: It's goodbye from me and it's goodbye from him.
• 35:42
  Speaker: Thank you for listening to the
• 35:43
  Speaker: Motortrade radio podcast powered
• 35:46
  Speaker: by Cazoo.