BUSINESS LIVE: Vertu eyes UK zero emissions boost; Landsec ups Bluewater stake; Saga insurance challenges

Vertu Motors expects Britain’s zero emissions vehicle mandate to create ‘volatility’ in the new car market, reducing the supply of new petrol and diesel vehicles and driving second-hand prices higher.

The zero emission vehiclemandate sets out the percentage of new zero emission cars and vans manufacturers will be required to produce each year up to 2030.

Government targets want 80 per cent of new cars and 70 per cent of new vans sold in Britain to be zero emission by 2030, increasing to 100 per cent by 2035.

It came as Vertu reported solid new and used car sales volumes growth ahead of its annual general meeting, with the dearlership group on track to meet full-year expectations.

Boss Robert Forrester said:

‘I am pleased to report that trading remains positive. 

‘Used car pricing has remained stable and we have gained market share in the new retail and Motability car market and delivered strong like-for-like volume growth in used vehicles. 

‘The performance of our high margin aftersales business has remained strong.’