Menu
19/08/2003
Grey imports flag as UK wheels out the best deals
Importing cars, so popular in the 1990’s, is now a "pointless" and "time-consuming exercise", according to a survey by Autocar magazine.
Domestic price cuts, faltering exchange rates and worries over import dealer quality are effectively strangling a once thriving car import business in the UK. Autocar say that dozens of companies have already gone out of business and more are likely to go bankrupt as the tide ebbs.
Imports accounted for 123,000 new car registrations during 2001-02 – but this year the figure is forecast to be 57,000 or lower as customers return to their local and trusted UK dealer.
Britain’s car purchase tax is among the lowest in Europe, VAT 17.5% and a first registration fee of £25 in contrast to Denmark where customers pay an astonishing 105 per cent tax on new cars – plus VAT.
Steve Sutcliffe, Editor of Autocar, said: "It’s good news for the UK dealer network to see customers back in their showrooms. 2003 is forecast to be the second highest sales year on record with 2.5 million registrations, so it’s even better news for buyers who can get the cars they want, at a price they are happy with from the dealer they know and trust."
The historically high cost of buying a car in the UK began to tumble in 2000 after consumers campaigned for prices to be aligned with their European neighbours. As the campaign gathered momentum, thousands of Britons took advantage of the considerable savings abroad by buying their new, right-hand-drive cars through an import company – shunning the UK dealer network.
Douglas McWilliams, chief executive of the Centre for Economics and Business Research, said: "The margin to make money on imports is now tiny."
Those import companies still in business are now having to act as brokers sourcing their stock from UK suppliers.
A Virgin Cars spokeswoman said: "When we started in 2000 everything we sold was imported. Now that the exchange rate has collapsed, 80% of our business is UK-sourced. The only savings on imports are on Mercedes and Audis costing over £40,000."
There is however one sector of imports that are continuing to buck the trend – 40,000 grey imports are forecast to reach UK shores during 2003. Grey imports are non-European vehicles mainly from Japan, the most popular models being high-performance saloons and luxury 4x4s.
(SP)
Domestic price cuts, faltering exchange rates and worries over import dealer quality are effectively strangling a once thriving car import business in the UK. Autocar say that dozens of companies have already gone out of business and more are likely to go bankrupt as the tide ebbs.
Imports accounted for 123,000 new car registrations during 2001-02 – but this year the figure is forecast to be 57,000 or lower as customers return to their local and trusted UK dealer.
Britain’s car purchase tax is among the lowest in Europe, VAT 17.5% and a first registration fee of £25 in contrast to Denmark where customers pay an astonishing 105 per cent tax on new cars – plus VAT.
Steve Sutcliffe, Editor of Autocar, said: "It’s good news for the UK dealer network to see customers back in their showrooms. 2003 is forecast to be the second highest sales year on record with 2.5 million registrations, so it’s even better news for buyers who can get the cars they want, at a price they are happy with from the dealer they know and trust."
The historically high cost of buying a car in the UK began to tumble in 2000 after consumers campaigned for prices to be aligned with their European neighbours. As the campaign gathered momentum, thousands of Britons took advantage of the considerable savings abroad by buying their new, right-hand-drive cars through an import company – shunning the UK dealer network.
Douglas McWilliams, chief executive of the Centre for Economics and Business Research, said: "The margin to make money on imports is now tiny."
Those import companies still in business are now having to act as brokers sourcing their stock from UK suppliers.
A Virgin Cars spokeswoman said: "When we started in 2000 everything we sold was imported. Now that the exchange rate has collapsed, 80% of our business is UK-sourced. The only savings on imports are on Mercedes and Audis costing over £40,000."
There is however one sector of imports that are continuing to buck the trend – 40,000 grey imports are forecast to reach UK shores during 2003. Grey imports are non-European vehicles mainly from Japan, the most popular models being high-performance saloons and luxury 4x4s.
(SP)
Related UK National News Stories
Click here for the latest headlines.
13 February 2004
Sheffield to test run new anti-yob measures
Sheffield has been chosen as a 'trailblazer' area to show how new anti-social behaviour powers can be used, the government has announced today. The Yorkshire city will be an area of "sustained action" in dealing with nuisance neighbours, abandoned cars, graffiti and litter. The campaign is backed by £500,000 of government funding.
Sheffield to test run new anti-yob measures
Sheffield has been chosen as a 'trailblazer' area to show how new anti-social behaviour powers can be used, the government has announced today. The Yorkshire city will be an area of "sustained action" in dealing with nuisance neighbours, abandoned cars, graffiti and litter. The campaign is backed by £500,000 of government funding.
23 May 2013
Nissan Recall Micra's Between 2002-2006
Almost 140,000 Nissan Micra’s are to be recalled in the UK over a faulty steering wheel. The car manufacturer is recalling some 841,000 cars worldwide. The model being recalled was built between 2002-2006.
Nissan Recall Micra's Between 2002-2006
Almost 140,000 Nissan Micra’s are to be recalled in the UK over a faulty steering wheel. The car manufacturer is recalling some 841,000 cars worldwide. The model being recalled was built between 2002-2006.
29 June 2006
Digger driver charged over house 'demolition'
A 52-year-old man has been charged with criminal damage offences after a house and cars were destroyed by a mechanical digger. Robert Taylor, of no fixed address, is due to appear before magistrates in Chelmsford charged with criminal damage with intent to endanger life.
Digger driver charged over house 'demolition'
A 52-year-old man has been charged with criminal damage offences after a house and cars were destroyed by a mechanical digger. Robert Taylor, of no fixed address, is due to appear before magistrates in Chelmsford charged with criminal damage with intent to endanger life.
12 January 2005
Environment Agency publishes Boscastle report
An Environment Agency report has given the go-ahead to replace flood-damaged buildings in the Cornish village of Boscastle, which was devastated by a massive flood in August last year. The report described the chances of a flood of such magnitude ever happening in that area again as "low", with the risk estimated at 400 to one in any given year.
Environment Agency publishes Boscastle report
An Environment Agency report has given the go-ahead to replace flood-damaged buildings in the Cornish village of Boscastle, which was devastated by a massive flood in August last year. The report described the chances of a flood of such magnitude ever happening in that area again as "low", with the risk estimated at 400 to one in any given year.
04 December 2003
Public awards for 'Taking A Stand'
The bravery of local people who have stood up to thugs, vandals and noisy neighbours in their communities has been honoured today at a ceremony in the House Commons. The 'Taking A Stand' awards recognise the "commitment, dedication and courage" of people who have taken a personal stand against anti-social behaviour.
Public awards for 'Taking A Stand'
The bravery of local people who have stood up to thugs, vandals and noisy neighbours in their communities has been honoured today at a ceremony in the House Commons. The 'Taking A Stand' awards recognise the "commitment, dedication and courage" of people who have taken a personal stand against anti-social behaviour.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
