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Power cable pump plug in charging power to electric vehicle EV car.|||||| Dealer

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How are the latest EV battery developments impacting automotive fleets?

From repair to solid-state advancements, electric vehicle (EV) batteries are a complex equation for fleets. How can these businesses better understand and work with the technology? Autovista24 journalist Tom Hooker assesses the latest battery advancements. The battery-electric vehicle (BEV) share has grown across Europe this year. In major new-car markets such as France, the fleet sector is a driving force behind electric registrations. Fleet-oriented incentives have helped encourage uptake, as in Germany. This shift makes it vital for those in the sector to understand the batteries powering their vehicles. In turn, they can make smarter purchasing decisions, optimise maintenance and retain the highest profit margins when defleeting. Cloud-based battery management Digital battery health certificates and data can provide clarity for both private consumers and fleets. It can also help increase transparency, streamline remarketing and maximise residual values. From February 2027, EV batteries sold in the EU must have a Battery Passport. The digital identity will be similar to a vehicle logbook, where battery charge cycles, energy efficiency and degradation trends must be included. How can fleets stay informed until then? One solution is a cloud-based battery management solution that supports the resale of EVs. ‘Together as leaders in mobility and technology, we have the unique opportunity, especially for EVs, to use remarketing and the right point of resell to make not only a transaction out of it but make it a data-driven business model,’ outlined Christiane Soppa, director of business development at Bosch, at Fleet Europe Days. Bosch conducted a pilot programme together with European mobility and car rental company Drivalia. This involved monitoring the data of approximately 100 vehicles between January and June 2025. ‘The heart of an EV is the battery. So, we took the heartbeat of the EV and put it online. The target was to take away the EV friction we have in remarketing. We looked at stress factors and anomalies based on very simple data,’ explained Soppa. Drivalia CEO Roberto Sportiello. From transaction to database There are three steps to the process. Once the EV is connected, data can be collected. Bosch was able to track battery temperature, voltage, charging behaviour and driver usage. This provided a real-time picture of the power-storage unit. Second, a cell-by-cell digital twin of the battery was created in the cloud. This combined AI machine learning with data taken from 150,000 vehicles tracked by Bosch worldwide to regularly review its algorithm. Third, the system detected anomalies and any battery issues. ‘The twin can completely monitor the battery. By spotting issues very early, you can redesign the right point of resell. We take the battery measurements, the state of health and anomalies before the decision point when you sell the car, not afterwards,’ she stated. ‘That is turning remarketing from a transaction to a database strategy. As a fleet manager or a leasing company, this is changing everything, because you suddenly get into the driver's seat,’ Soppa continued. Bosch was also able to produce a certificate at any time, revealing driving behaviour, anomalies, and charging history. ‘You could even use this data to discuss with your clients early, to change their behaviour. Decision making is not a best guess or dependent on lifetime and mileage anymore. It is based on data. What we see from all the pilots we did in the past years, in Bosch and all the data we have, sales can be boosted by up to 4% on average for resale,’ she commented. However, Soppa highlighted that this requires monitoring of the battery to optimise the point of resale. ‘This is a very important digital platform that will permit the company more in the future to retrieve and collect data from the fleet, and let the company adjust it as best as possible,’ highlighted Drivalia CEO Roberto Sportiello. Is battery repair the solution? While Bosch’s tool can be used to boost resales, another way to maximise profit margins within a fleet is to reduce maintenance costs. So, what options do fleet managers have in this instance? According to Gablini Automotive Group, the cost of repairing a battery pack is around 80% lower than replacing it. This makes battery repair more financially attractive while supporting circular economy goals. ‘To be sustainable, we cannot throw away a 10-year-old vehicle. We should keep it on the road. Because, if we throw it away, the environmentally friendly behaviour of EVs will not be there anymore,’ stated Daniel Pataki, general manager of Gablini Automotive Group, at Fleet Europe Days. Gablini Automotive Group general manager Daniel Pataki. ‘The question is if we can repair the battery packs in case of any failure, because OEMs are not interested in selling battery packs. They are interested in selling new vehicles,’ he said. Pataki explained how demand for battery repair is growing. As old EVs are getting cheaper, people are beginning to use them as an entrance point to the EV sector. However, he highlighted that an EV with a faulty battery has a resale value of close to zero. Repair constraints Pataki presented a diagram of a dismantled EV battery pack. He explained that if one cell has a lower voltage than the rest, this affects the entire battery’s performance. By replacing the module containing that cell, the EVs' range will improve. The battery management system and thermal management system can also be replaced. ‘If one sensor gets broken in a battery pack and you cannot repair it via the OEM, you should replace the battery pack due to the fault of a €10 sensor. This is not sustainable. You should be able to repair this,’ said Pataki. However, he explained that there are some constraints. There are still no standard criteria for technicians looking to repair high-voltage batteries. Pataki said that OEMs do invite technicians to their headquarters to get a certificate. ‘According to our experience of more than 12 years, 85% of faulty battery packs were economically repairable. That means only 15% of the battery packs coming to us needed to be replaced,’ he noted. Pataki pointed out that buying parts from the OEM will mean reduced margins compared with individual battery repair. For a 14-hour job, a profit margin of around 40% to 60% can be achieved Pataki calculated. He highlighted that the solution opens up profit potential within the after-sales process. ‘You will provide sustainability. You will gain customer satisfaction because all customers will come back to you for battery repair. We can reduce waste, we can extend the lifespan of vehicles, we can have high-margin jobs in the workshop, and we can make the customer happy,’ outlined Pataki. Battery market domination So, the fleet sector needs to be aware of current battery developments, such as real-time data analysis and battery repair. However, it is equally important to know what to expect in the future. Currently, the EV market is dominated by lithium iron phosphate (LFP) and nickel manganese cobalt (NMC) batteries. From January to August 2025, these two chemistries accounted for over 90% of the megawatt-hours installed across the global passenger car market, according to EV volumes data. However, the market’s composition could change over the next few years. Mix and match approach ‘What we see is quite a detailed chemistry layout. In the US, you have the nickel cobalt aluminium (NCA) component that is mainly used by Tesla. While in Europe, you have NMC batteries. In China, you have the majority of vehicles or batteries that are LFP batteries,’ said Octavian Chelu, advisory director at Frost&Sullivan at Fleet Europe Days. ‘You might think the picture is quite clear. The US, Europe and China use a certain technology. It is not that easy. When we look towards the future, what we see happening mainly is the fact that carmakers are going to match certain batteries, technologies and chemistries depending on the type of vehicle and its use, he added.’ ‘Carmakers are going to try to mix and match from now on. This is something that is going to be keeping revenue from the remarketing business because it needs to juggle very well between different types of technologies, different battery markers, the degradation of those batteries and how much the residual value is going to be impacted by all of that,’ Chelu explained. ‘We have NMC and LFP; those are the main two technologies being used today. However, we also see a lot of heavy research and development, encouraged by all major governments worldwide, because they want to break dependencies,’ Chelu highlighted. ‘We are trying to find alternatives, so that our batteries and our vehicles are not going to be dependent on one source,’ The next battery technologies Chelu explained that sodium-ion batteries are the next technology being tested. In China, the first vehicles using this technology have already been seen. There are also solid-state batteries in development. However, he believes both chemistries will not completely wipe out LFP’s market share. ‘We are still going to be dependent on precious materials for quite a while. There are pluses and minuses with all these new technologies,’ he said. Chelu estimated that in the future, sodium-ion batteries are likely to be 30% to 50% cheaper than their LFP counterpart. They also perform extremely well in cold temperatures. This means vehicles using the chemistry can have better charging cycles. However, sodium-ion batteries have a lower energy density than LFP units. So, models using the chemistry instead of LFP on a like-for-like basis will have less range. Yet, this does mean the emerging technology is slightly safer, due to it being less reactive. Chelu noted the emerging technology could be well-suited to last-mile deliveries, but less so for long-range vehicles. Meanwhile, solid-state batteries are safer and more stable than LFP ones, with no flammable liquid electrolyte. Chelu also pointed to a higher energy density, enabling longer distances and faster charging. However, the new technology will be much more expensive to begin with. ‘Sodium-ion is the next to come in line, not to replace LFP batteries, but as a new technology. Solid-state batteries are not going to happen before 2028 and probably will be fully commercial by 2030,’ Chelu concluded.
Smart driving Dealer

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How are AI and automation transforming automotive remarketing?

Today, nearly every business is using artificial intelligence (AI) and automation in some form. The automotive remarketing sector is no exception, with efficiency and data-driven decisions key to fleet efficiency and profitability. Tom Hooker, Autovista24 journalist, reviews its current applications and future impact. As AI continues to develop, so too do the use cases within the automotive industry. From production to in-vehicle applications, logistics to fleets, there are many applications for the technology. Automotive executives anticipate big things from AI, even within the next three years. The technology is expected to increase the perceived value of products by 22% and the value of digital services by 37%, according to IBM. This acceleration in automotive AI applications underlines the industry’s push for smarter, more connected, autonomous, and software-defined vehicles.  Carmakers are partnering up with AI specialists to maximise their knowledge and potential in this field. These collaborations include Hyundai Motor Group and Nvidia, Stellantis and Mistral AI, and Volkswagen Group and Amazon Web Services. Unsurprisingly, AI and automation also present key growth opportunities in the remarketing sector. This involves reselling used vehicles, typically owned by businesses or fleets, through wholesale channels. This often occurs before hitting the retail market. In this space, AI can enable predictive pricing, automated inspections, automatically adjusted inventory management, and automatic sourcing. These tasks help to maximise turnaround speed and recovery value, two of the major goals in remarketing. So, how are remarketing companies currently using AI, what benefits are they seeing, and what could the future hold? AI sourcing To benefit from high resale margins and fast-turning stock, the right amount of quality vehicles must be quickly sourced. ScaleVoice and AURES Holdings are already using AI to source vehicles and improve response times. From left to right: Mike Allen, AURES Holdings member of the supervisory board. Martin Rezab, ScaleVoice chief revenue officer. The two companies presented their Voice AI solution at the Fleet Europe Days. The AI agents can reportedly handle outbound and inbound calls, schedule trade-ins and update systems in real time. Voice AI conducts proactive sourcing to find hidden opportunities in the marketplace. It grades adverts by predicted profit margin, stock turn and competitiveness, such as targeting private sellers with price drops. The solution can then contact the seller and schedule dealership appointments. It also uses reactive sourcing. This means responding to incoming web form leads in under 30 seconds to catch customers in a selling mindset. Unlike a human agent, the AI can do this anytime on any day of the week. The insights gathered can then be used for future marketing and sales operations. In a 60-day test that compared human agents to Voice AI, the latter generated 7,277 appointments. This returned a 49.2% conversion rate. ‘We had a round robin of leads, one half of the leads went to us [Voice AI], and the second half went to people, and they measured the volume of people that showed at branches. We outperformed people by two percentage points,’ highlighted ScaleVoice chief revenue officer Martin Rezab. How to automate at scale Other companies in the remarketing and leasing space are building AI-first cultures. One of these is the car leasing service Lizy, which has embedded automation steps into multiple processes. A quarter of Lizy’s remarketing workload is handled without human intervention, with AI performing over 45,000 actions every month. This includes tasks such as pricing and workflow optimisation. New processes are automated across the company weekly. For example, its paper mail and email workflows have been automated, freeing up time for employees to work on more challenging tasks. ‘We have two types of companies today. We have companies that are writing emails and recording meetings with AI. Then, you have companies that are actually fully automating their back-end processes with AI,’ explained Lizy CEO Sam Heymans. Sam Heymans, Lizy CEO. ‘It is fine if you are in that first category today, but if, in five years, you are still only doing that, I think you will really suffer. I think for the leaders of our industry, we should make sure that we adopt AI and embrace it, because it will be shaping the future of automotive,’ he added. AI inspection An essential part of the defleeting process is inspecting vehicles. This can determine residual values and sales channel selection, while reducing risk by identifying damage, wear or missing equipment. However, this can be a particularly time-consuming process, especially for fleets processing hundreds or thousands of cars at once. Automated inspection tools can help by reducing lead times and improving accuracy. From left to right: Marina Picard, Stellantis head of supply chain, business unit pre-owned vehicles. Bertrand Chataing, Autobiz Group chief sales and development officer. Carcheck.AI, developed by Stellantis and Autobiz Group, can use a smartphone camera to create a digital scan of a vehicle. In just a few minutes, it calculates the costs of reconditioning the model before resale. According to Autobiz Group, the system is already being tested at Stellantis fleets in Hordain, France and Madrid, Spain. It is expected to save up to three weeks in the vehicle resale process. Automated fleet workflow system BCA Europe and Alphabet International displayed another example of automation at the Fleet Europe Days event. The pair demonstrated a fleet workflow system integrated into an auction platform across European markets. From left to right. Tobias Münch, BCA Europe chief commercial officer. René Lorr, Alphabet International head of international operations. The solution optimises fleet visibility across logistics, pricing, sales, and post-sales. In turn, delivering detailed information, a smooth buyer experience, and fast vehicle remarketing. Real-time tracking is also possible, meaning shortened delivery times, improved operational control, and boosted stock rotation. ‘It has been deployed in nine markets. It consists of two main components. One is the workflow system, and that covers the process over the entire vehicle lifecycle. The second one is the auction platform,’ outlined Alphabet International head of international operations René Lorr. ‘We found a way to build up every unified process into one single workflow. I think it is the backbone of the remarketing process by Alphabet, because this system connects the people, the data and the processes together, and it brings it to a very efficient and value-driven system,’ concluded BCA Europe chief commercial officer Tobias Münch.
Car lights inside of a tunnel.| Aftermarket

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The road ahead: Residual value trends and the next market shift

A tense and uncertain economic environment is increasing pressure on Europe’s automotive market. But how will this affect residual values (RVs)? In a new webinar, Autovista Group experts discussed emerging trends and used-car impacts with Autovista24 journalist, Tom Hooker. RVs across Europe have continued to decline in 2025, amid falling used-car prices and an unstable economic environment. Meanwhile, powertrains are seeing varied performances, with one particular technology providing a surprise. But is this decline expected to continue into 2026? Autovista Group’s latest webinar, The road ahead: Residual value trends and the next market shift, answered this questions. The panel featured Dr Anne Lange, product director, valuation apps at Autovista Group, Robert Madas, regional head of valuations (DACH and CEE)​ at Autovista Group and Javier Salgado, director of valuations and forecast experts at Autovista Group. https://www.youtube.com/watch?v=o9ZEJQtcbHk European market faces uncertainty In the first half of 2025, Europe’s economy appeared to be stabilising after a period of stagnation. However, Lange showed how both inflation and the consumer price index have risen. This is mainly due to ongoing geopolitical tensions and conflicts. These trends have hurt the automotive industry. Stagnating economies have led to affordability issues and reduced investment. Additionally, ongoing tariff negotiations have caused delays in investment and supply. There has also been a market push for more affordable battery-electric vehicles (BEVs). Meanwhile, the market has seen battery technology become cheaper and more efficient. ‘We are in a phase of a lot of technological challenges. We have a massive electric vehicle (EV) push that is putting pressure on manufacturers to become more profitable,’ Lange noted. Furthermore, used-car prices are still dropping, albeit at a slower rate. This is despite an apparent stabilising trend in the first half of 2025. Yet, the uncertain economic environment was just one factor affecting this decline. Residual value decline expected RVs presented as a percentage of new list price (%RV) in most of Europe’s major used-car markets have continually fallen. However, the pace of this descent has now slowed compared to previous years. Madas explained that this year, %RVs remain well under 2024 levels. They are also under those recorded in 2023, 2022 and 2021 when %RVs were greatly inflated. This can be seen as a continuous market normalisation following the COVID-19 pandemic and the supply crisis. Specifically, there is growing pressure on three-to four-year-old vehicles. This age group has seen an increasing number of stock days and price changes over the last few months across all powertrains. BEVs still sell the slowest and record the highest amount of price changes in this age group, followed by plug-in hybrids (PHEVs). Overall, pressure on %RVs is forecast to remain across Europe’s major used-car markets in 2026. In particular, passenger cars at 36 months of age and above will be affected more than younger vehicles. ‘The market outlook for 2026 is still negative. We expect some more adjustments, but at a slower pace,’ Madas stated. Increasing market pressure Madas then showed how %RVs for vehicle age groups have developed differently over the last four years. The youngest used vehicles have seen %RVs reach 2021 levels in many markets. This has been caused by supply exceeding demand. Meanwhile, %RVs of cars aged 36 months and above are still relatively high. There is significant room for correction, as supply levels are expected to return in this age group. This is due to recovering new-car registrations in 2023, following particularly weak years in 2021 and 2022. Madas broke %RVs down by powertrain, where he noted that BEVs have struggled. Meanwhile, PHEVs have performed significantly better. In some markets, such as Germany, younger PHEVs have developed better than BEVs, causing the gap between the two technologies to widen. This overarching trend in Europe is caused by differences in supply. PHEVs have considerably smaller volumes in the used-car market and can be better absorbed by current demand than BEVs. Finding the fleet recipe However, Salgado pointed out that these trends do not necessarily translate directly into individual fleets. ‘Most market changes are already included in our forecast values. Ideally, reforecasts should stay quite stable, which would show that our assumptions were accurate when we first forecasted the value of the vehicle,’ Salgado commented. With most leases in Europe lasting around three and a half years, the first forecast is completed long before the car reaches the used market. When conditions change, such as demand or stock levels, forecasts are updated to include those new elements. Salgado then presented two artificial fleets of around 10,000 vehicles in Spain and Germany, with analysis completed in each quarter. The %RV of both fleets remained stable over the last year. The Spanish fleet saw the biggest change, with a small 0.5 percentage point decline. He highlighted that every fleet is unique. Even in one country, results can change depending on the powertrain or brand perception. Salgado also showed that while PHEV %RVs have provided a surprise, they are evolving similarly to petrol and diesel models in some fleets. Moreover, in this artificial fleet, full-hybrid values saw a comparatively larger drop at the end of the lease contract. This is despite the technology maintaining the highest %RVs of any powertrain in Europe. Enjoyed The road ahead: Residual value trends and the next market shift? Then sign up for Autovista Group’s next webinar: Global new-car market outlook 2026. It will take place on 25 November 2025 at 09:30 BST / 10:30 CET. Register for your place today.
Graphic showing vehicle depreciation| Insurance

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What is depreciation?

Vehicle depreciation affects every part of the automotive industry, providing clarity on profitability and financial risk. But how can this be used to benefit both companies and consumers? Tom Hooker, Autovista24 journalist, explains. From manufacturers planning models, to customers collecting a car, and businesses devising fleet strategies, depreciation is central to understanding value. It means buyers and sellers can get to grips with how much money a vehicle may lose. How is it calculated, where does it tie into residual values (RVs), and what makes depreciation such a crucial topic? https://www.youtube.com/watch?v=DEp0a1BfOI4&feature=youtu.be Understanding depreciation Depreciation is the amount of value a car loses over time. This can be calculated by subtracting the absolute RV from the new list price. The absolute RV represents the car's monetary value after a defined time and mileage. For example, a car may cost €40,000 brand new. After three years and 60,000km it might see an absolute RV of €18,000. This means a depreciation rate of €22,000, or 55% of its list price. Importantly, the rate of a car’s depreciation is not linear. Cars lose value more rapidly in the years following registration. This rate of decline then slows over time. However, depreciation is not the same for all cars. Factors such as age, mileage, powertrain, competitors, condition, design, service history, reliability, warranty length, fuel economy, owners, and volume can all affect depreciation. Understanding depreciation is beneficial for sellers and buyers. Sellers can better calculate financial risks. Fleet, leasing, and finance companies can decode the biggest points of depreciation and try to minimise their losses. Meanwhile, buyers who focus on cars with lower depreciation rates will take on less financial risk. This can mean getting more money back at the point of resale. Mainstream versus premium For example, comparing two compact crossover SUVs, one premium and the other mainstream, reveals the different rates of depreciation. The exemplar premium model has a list price of €55,900. After two years and 40,000km, it holds on to 58.4% of its list price, or €32,650 in absolute terms. Meanwhile, the mainstream model has a much lower list price of €43,050. However, it also retains less value at 49.8% or €21,450. While the premium model loses €23,250 after two years, the mainstream model loses €21,600. So, even with the premium car’s higher percentage and absolute RVs, its depreciation is still comparatively higher. However, if the mainstream model had a worse rate of value retention, it could indicate a desirability issue. How is depreciation used? Carmakers can compare the depreciation of one of their more luxurious models to a compact car or a direct competitor. However, this does not provide the full picture, as the two vehicles may have vastly different production costs. Understanding depreciation is also vital for fleet and leasing companies. It helps these businesses compose their fleets, with lower levels of depreciation meaning less loss. Finance companies and banks also use this metric. With accurate depreciation forecasts enabling risk and price assessment, they can manage interest rates and risk premiums accordingly. In summary, depreciation is the counterpart to residual values. It gives another lens into used-car performance, depending on the strategic focus of the company or individual.
Dealer

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The Automotive Update: Future of the car, used markets, and job losses

The FT Live’s Car of the Future conference, Europe’s used-car markets, and another round of industry job cuts. Autovista24 editor Tom Geggus examines the week’s news and events in The Automotive Update podcast. In this week’s episode, Autovista24 explores FT Live’s Car of the Future event held in London. Also, a look at which European country is enjoying continued used-car market growth. Finally, the latest on job cuts at Nissan and Ford. Subscribe to the Autovista24 podcast and listen to previous episodes on Spotify, Apple and Amazon Music. Car of the Future The FT Live’s Car of the Future event was held in London and streamed online. With the automotive industry facing multiple challenges, there was plenty for the panellists and interviewees to discuss. One of the event’s biggest talking points was the uncertainty currently plaguing companies. Tariffs were recognised as a particular pain point, impacting the wider market and carmaker profits. Barbra Frenkel, member of the executive board for procurement at Porsche, highlighted that open trade is needed. This is especially true with the lack of a localised battery supply chain in Europe. This means reliance on other countries to supply a growing electric vehicle (EV) market. Tariffs on Chinese-built battery-electric vehicles (BEVs) are effectively a tool to buy time for the EU, according to Frenkel. However, they are not a measure to keep competition under control. Looking at the wider view, Ineos Automotive CEO Lynn Calder highlighted that tariff-related trade talks are continuing between the US and the UK, as well as the US and China. But there has been little word from the US and the EU. She added that banning hybrids from 2035 on the continent has made things difficult. Calder added that hybrids are a solution for range anxiety, as well as reaching emissions targets. She appeared sceptical that the market would be electric only from 2035. Electric vehicle developments Discussion at the FT Live event also turned to developments in the EV market. While there was once much talk about European networks of gigafactories, development has been slow. The recent collapse of Northvolt has shown the difficulties the industry faces. Robin Fransis, head of lithium marketing at Glencore, highlighted that state aid is needed to bring battery production to the continent. He added that incentives are needed across the EV market. This includes consumer and business purchases. Julia Poliscanova, senior director for vehicles and emobility at Transport and Environment, discussed a new report the association is launching. Of the current plans for battery production in Europe, 61% are at a high or medium risk of either not happening, being delayed, or being scaled down. This equates to over 700GWh of production being at risk. Another area of the EV market that needs to develop is that of charging infrastructure. ACEA secretary general Sigrid de Vries said 60% of chargers in the EU are concentrated in just three countries. Namely, the Netherlands, France and Germany. She said to meet current targets, between 3,500 and 8,000 new chargers need to be installed on a weekly basis. ACEA’s leader pointed out that this is not happening at present. Stephen Marvin, director of research and development at PFA, said EV-market stagnation is not helping. It is hurting the business case for investment in charging infrastructure. So, governments need to work together to help finance growth. Currently, the charging infrastructure is a bottleneck to mass EV adoption. Small cars and regulations There was also discussion around the small-car market and changes in dealership strategies. Luca de Meo, Renault CEO, pointed to research on the impact of regulations on small and medium cars. Between 2015 and 2030, medium car costs at Renault are projected to increase by 20%. This rises to 40% for small cars. Looking at dealerships, Polestar CEO Michael Lohscheller stated that there is a need for high-performing dealers. Buyers now come equipped with so much information from conducting research online. This point was backed up by Bill Berman, CEO of Pinewood AI, who said that the customer journey now starts online. This begins with finding the car, doing independent research, looking at carmaker websites, then finding a dealership or purchasing platform. This is a challenge dealerships must deal with. Top-performing used-car markets Autovista24’s analysis of Europe’s big five used-car markets has highlighted the comparatively weak performance of the continent’s new-car deliveries. Analysis of transactions in France, Germany, Italy, Spain and the UK shows that one market is clearly performing above others. Spain is leading in growth amongst both new-car registrations and used-car sales. Yet the strongest market in the first quarter of the year, in terms of volumes, was the UK. It recorded over two million used cars changing hands. This was the first time since before the COVID-19 pandemic that the country reached this quarterly threshold. Job losses continue Nissan has announced plans to cut its workforce by 20,000 between fiscal years 2024 and 2027. This number does include the previously announced reduction of 9,000 workers. The carmaker also plans to close seven plants globally by 2027. Meanwhile, workers at Ford's two car plants in Cologne, Germany recently went on strike over planned job cuts across the carmaker’s European operations. Workers voted to act after the company announced it would cut around 14% of its European workforce back in November 2024. 

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