Second-hand car sales soar

Used cars in demand

Second-hand car sales more than doubled in April to June 2021 compared with last year, due to a fall in new cars on the market that was caused by a shortage of computer microchips. This has driven up used car prices with the disruption expected to go well into 2022. Ford Fiestas, Vauxhall Corsas and Volkswagen Golfs were among the most sought-after cars.

Retail spending curtailed

Growth in retail sales slowed down in July, indicating the first signs of consumer fatigue since lockdown restrictions began to ease. So-called “Freedom Day” in mid-July didn’t boost in-store sales as much as expected, with the wet weather partly to blame. Experts think that the slow down will continue over the coming months as consumers rein in their spending.

Climate crisis

Major climate change is inevitable and immediate action is required to reduce its effects, according to a report by the International Panel on Climate Change. It warns that rising temperatures caused by human activity will lead to extreme weather and rising sea levels. In response, world leaders have said that new policy is required urgently to reduce carbon emissions and limit global warming.