What Does A Biden Presidency Mean For The Car Market? | Change To Car Dealerships

24th Nov 2020

Challenges of 2021 | Impact on The UK Car Market

What Does A Biden Presidency Mean For The Car Market

Biden Presidency

Impact On The UK Car Market

Change For Car Dealerships

Round-Up

It’s no secret that newly elected President Biden is what we might call ‘a bit of a petrolhead’.

The 46th President of the United States has been particularly vocal on the automotive industry. The market transition to EV (electric vehicles) is even one of the major points that he staked his campaign on.

The question is, with US-UK trade relations still something of an unknown quantity, what does a Biden presidency mean for car dealerships?

Biden Presidency

Biden wasn’t long in the White House before he started repealing some of the measures passed by former President Donald Trump.

By re-joining the Paris Climate Agreement, Biden put the USA back on a path to Obama-era emission targets.

For gas cars, the industry can expect to have to adhere to strict mileage standards. Not only this but automakers will have to commit to reducing CO2 emissions by 5% per year from 2022 to 2025!

All of this is focused on a bid to move to EV. Biden has promised $400 billion in public investments for this transition to clean energy, with a keen eye on the automotive industry.

There’s even been a promise to subside electric car production with tax breaks for automakers.

Models can be expected to range from Teslas and Ford EVs which are already in production, to high-end Cadillacs and Hummers from General Motors.

For ‘petrolhead’ Biden, who famously sported his 1967 Chevrolet Corvette Stringray in the campaign race, a shakeup of car manufacturing is the way to ‘make America great again’.

The question is, what impact will this have on the UK market?

Impact On The UK Car Market

The UK car market has seen competitive issues (such as Covid-19) as driving forces for increased sales.

But declaring dealerships as essential services hasn’t panned out in either the UK or the US.

Coupled with Prime Minister Boris Johnson’s plan to bring forward the ban of gas and diesel-powered cars to 2035, you might be wondering, is now the time to invest in a car?

Well, of the 2.3 million passenger cars sold in the UK (2019), only 37,850 were EV.

Plus, in a post-Brexit world, there’s the question of whether our trade ‘special treatment’ with the US might look more like being at the back of the queue with Biden.

Either way, with fifteen years before supposedly being committed to fading out petrol and diesel-run cars, you might want to ask - how long does a car last me?

Change For Car Dealerships

2020 has changed how we buy cars:

Where we can buy them (with dealerships closing)
How we can buy one (with no test drives or drive-away)
What we can buy (say Biden and Johnson)

With customers no longer able to go into dealerships, test drive, or even drive away their new car, dealerships have had to adapt.

With the move online, however, how can you know which dealership to trust?

Round-Up

You want to make sure when buying a second-hand car that you’re getting a model that you want, and that suits your needs.

Without seeing it in person, you’ll need to rely on a dealership with good authority, reviews, and customer service.

If you’re looking to buy or sell a quality used car in the current climate, you’ll want to get in touch with Hilton Car Supermarket today!

They have finance options and are a RAC approved dealer that can take care of all your automotive needs.

Why not give them a call to get in touch with their Milton Keynes or London branch?