2009 February | HPI Press Centre

VAT Cut Fails to Woo Buyers

HPI and Car Dealer survey reveals 86% unmotivated to buy in 2009

Leading vehicle information organisation, HPI, in association with the only glossy magazine for the motor trade, Car Dealer*, reveals that 41% of new car buyers say the cut in VAT is ‘unlikely’ to make them buy in 2009. The figures suggest that the government’s 2.5% VAT cut has failed to get Britain spending, especially as the reduction has the greatest impact on big-ticket items such as cars.

Daniel Burgess, Automotive Director at HPI comments says: “Confirming our worst fears, measures to incentivise buyers to the new market are failing. In total, a staggering 86% of those we surveyed reported that the VAT cut had not motivated them to consider a new car purchase, adding to the intense pressure already faced by the motor industry. In fact, consumers are more likely to be wooed by the many special offers and promotions car dealers are running in a bid to boost business.” Read the rest of this entry »

February 12th, 2009

All, Buying advice |

Are Used Car Values on the Rise?

Mr and Mrs Average could come to the rescue says HPI

Although the outlook remains unsettled going into 2009, January saw some used car values go up. The latest HPI Used Car Valuations Index shows that the month-on-month figures for December to January show that on average values are up for all 12 and 36 month old cars. However, the new year usually sees an increase, so the worst is not over yet.

Martin Keighley, HPI’s Used Car Valuations expert explains, “New car registrations were around 2.1 million in 2008, down from 2.4 million the previous year, but a great chunk of these were ‘self registrations’. Stocks of some new and nearly new cars and light commercial vehicles are growing. Expect new car sales to fall to between 1.5 and 1.6 million in 2009, but perhaps the tide is beginning to change for the used car market. Read the rest of this entry »

February 4th, 2009

All, Vehicle Valuations |

What’s in a Name?

50% of HPI customers confess to being emotionally attached to their car

Love Machine, Bessey and Muscles – these are just some of the nicknames drivers choose for their cars, reveals a survey from HPI, the leading independent vehicle information provider. 50% of those surveyed admit to giving their car a pet name, but HPI warns used car buyers to avoid ending up with a vehicle worthy of a name like Old Banger, Terminator and The Wreck.

A similar survey by HPI back in 2003 revealed that celebrity names were top favourites for drivers to give their cars. However, the likes of Kylie and Charlie have had to move over for Buster, Moocher and Boomzilla in 2008, as drivers get more creative with names. In fact, the only name to reappear in the 2009 listing is Bessey – which is top of the charts. 40% of respondents say their car is female, while 27% refer to it as a male, showing just how attached we can get to our cars. Whether it’s a Casper or a Beauty, HPI urges consumers to be aware of the potential threat from dodgy vendors looking to sell on a vehicle with more to hide than just its name. Read the rest of this entry »

February 1st, 2009

All, Miscellaneous |

HPI Press Centre

VAT Cut Fails to Woo Buyers

Are Used Car Values on the Rise?

What’s in a Name?

Pages

Categories

Archives

Get an HPI Check

Search

Account