IQ

Insight

Quarterly

Q3/2024

Welcome to this second edition of Insight Quarterly from Cox Automotive.

IQ was created to connect the dots between key trends and topics shaping the automotive sector today. It's filled with insights that aim to provide a clearer vision of the road ahead.

In this issue, we reflect on the performance of the UK's new and used car markets in the first half of the year and examine what’s in store in the third and fourth quarters. 

The ZEV mandate is the headline influence on both markets currently. EV registrations are trailing behind where they should be, and values in the used market remain volatile. We consider what the push for compliance will mean for both markets. But ZEV is just one influence the sector is navigating currently. So, we also consider the influence of Chinese new entrants, the changing car parc in terms of fuel type, the rising cost of new cars, and consolidation in the dealer space.

We also share original and insightful commentary from some of our industry connections: 

• Owen Edwards from Grant Thornton explains the EU's new import tariffs for Chinese EVs.
• Lee Swinerd from Interpath discusses challenges within the manufacturing supply chain for ICE vehicles.
• Steve Young of ICDP analyses the latest learnings on the agency model.
• David Gray from EV Battery Solutions explores the key aspects of EV battery management.
• Chris Green from Regit discusses the competitive advantage of data.

This diversity of discussion highlights the complexity and fluidity of the automotive sector today. The way the world buys, sells, owns and uses vehicles is changing. Understanding the factors behind this movement is key to creating opportunity.

We hope you enjoy IQ and find it both valuable and shareable. Please let us know what topics you would like to see covered in future editions.

New & used sales vs. global production volume

Source: SMMT / OICA / DVLA / Cox Automotive