- Used EV grants mooted
- NFDA writes to transport secretary about re-evaluating ZEV
- Porsche Retail return on sales plunges in 2024
- Post-Christmas is ‘peak time to sell cars’ says Motorway
- WEEK AHEAD: New Year’s Eve
- Taxpayers missing out on millions in charity relief
- Fresh warning about pension lifestyling
- VW agency drop confirmed
- Toyota to export from US to Japan
Used EV grants mooted
Department for Transport officials have been sounding out views from the industry on how the Electric Car Grant could be extended to used EVs, reports The Fast Charge.
Officials are “broadly warm to the idea and sensitive to industry asks for including secondhand EVs under the grant scheme”, reports editor Tom Riley. “However, it’s understood the main barrier is how such a scheme could practically function.”
The DfT has reportedly sought models for how it could be implemented.
In the November Budget, the ECG was boosted by £1.3bn, double the original figure of £650m.
NFDA writes to transport secretary about re-evaluating ZEV
The NFDA has written to transport secretary Heidi Alexander to urge a re-evaluation of the ZEV Mandate in light of changes to the EU’s approach.
In the letter, sent just before Christmas, the NFDA highlighted the importance of “aligning UK regulatory policy with evolving international benchmarks to ensure continued competitiveness, market certainty and realistic transition pathways for both vehicle retailers and consumer”.
“It’s essential that the UK’s ZEV Mandate framework is grounded in the latest development,” said NFDA chief executive Sue Robinson. “We will engage in constructive dialogue with the Department for Transport in 2026 to ensure the ZEV Mandate delivers.”
* Read the letter in full here
Porsche Retail return on sales plunges in 2024
Porsche Retail Group saw its return on sales plunge from 4.0% to 1.1% in the year ended December 2024. Revenue also fell from £518m to £444m, while new and used car volumes decreased by 841 vehicles or 15.6%.
“While the reduction in new cars was somewhat anticipated based on communications from the manufacturer, tough market conditions and logistical difficulties put additional strain on PRG’s performance. The decrease in new car volumes also resulted in a decrease in associated used car volumes.“
The competition in the marketplace in 2024 has heavily impacted the returns.”
Post-Christmas is ‘peak time to sell cars’ says Motorway
Motorway co-founder and chief executive Tom Leathes says that the days after Christmas are a peak moment for people selling used cars. From Boxing Day onwards, the company saw a sharp increase in the number of used cars listed by private owners on its app.
It coincides with independent retailers eager to snap up stock when larger rivals are shut. “A lot of smaller dealers hump into the auction and get to pick up cars they might not otherwise get.” Leathes claims sellers can secure about £1,600 more than a traditional PX by using Motorway.
In its recent unaudited 2025 accounts, Motorway posted revenues of £78m in 2024, up 18% year-on-year. Operating losses fell 37% to £22m. It hit ‘unicorn’ status, with a valuation of more than $1bn, in 2021.
WEEK AHEAD
Monday, BRC shop price index
Wednesday, New Year’s Eve
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DATA INSIGHT
Taxpayers missing out on millions in charity relief
£15.4bn: Amount that generous individuals donated to charity in 2024. However, only about 1.3m taxpayers declared a charitable donation on their self-assessment return in 2023-24, reclaiming £760m.
Fresh warning about pension lifestyling
15 years: Common point ahead of retirement age at which pension providers automatically reduce risk near retirement by moving from high-risk assets such as shares into low-risk ones like bonds and cash. Pension holders are being warned about missing out on growth if they’re ‘lifestyled’ too soon.
GLOBAL AUTO
VW agency drop confirmed
Volkswagen has confirmed it is rejecting agency and moving to the dealer model in all markets. “We rely on the entrepreneurial strength of our dealers – this cannot be replaced by any model,” said sales director Martin Sander to German newspaper Handelsblatt.
“That is why, as the Volkswagen brand, we have decided to end the agency model for the sale of electric vehicles across Europe.” Agency will remain in place for fleet customers. No specific timeline was provided for the transition by Sander.
Toyota to export from US to Japan
Toyota will export the made-in-USA Camry, Tundra and Highlander to Japan for sale in the home market in 2026. It is part of an effort to expand offerings in Japan and make a gesture of goodwill to improve trade relations with the US, reports Automotive News.
Best wishes for the New Year,
Tristan Young, Editorial Director
&
Richard Aucock, Editor
Get in touch: tristan@autosunday.co.uk
ISSN 2977-6597