Vertu Motors reports 6.7% increase in Q1 used car sales and 6.8% increase in new car and Motability sales, but warns of potential disruptions due to zero-emission vehicle mandate.
Vertu Motors, a UK car dealership group, reported a 6.7% increase in like-for-like used car sales by volume in Q1, alongside a 6.8% increase in new car and Motability vehicle sales. The company noted that used vehicle sales have recovered with prices stabilizing, but warned of potential future disruptions due to impending rules for zero-emission vehicle (ZEV) sales. Vertu cited the Zero Emission Mandate to increase the uptake of zero-emission vehicles as a potential cause of market volatility, which could lead to increased prices for both new and used cars.
June 25, 2024
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