An expert’s guide to the Monaco Grand Prix

The Monaco Grand Prix is one of the most prestigious events in the global sporting calendar. The beautiful principality hosts the most exciting race on the F1 circuit, with a tradition like no other.

Monaco Grand Prix

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Monaco is the most densely populated sovereign state in the world. With thousands of more visitors pouring into the French Riviera for the weekend, it can be slightly overwhelming if you have never been before, so research is key to making the most of the race.

The perfect location

Monaco is one of the world’s most popular and glamorous locations, and for good reason. The beautiful harbor, which is home to some of the world’s most expensive yachts, and the surrounding mountainous rocks and the Mediterranean Sea make this a truly desirable destination. There is plenty to do, with some of the world’s best casinos, hotels and restaurants to keep you entertained day and night.

Monaco Grand Prix

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Where to watch

Whilst there are countless bars, hotel, and restaurants offering a chance to enjoy the race on a big screen, there is nothing like the smell of rubber and the exhilarating live action. Ahead of the main event, you can enjoy practice sessions on Thursday and qualifying on Saturday, so why not make the most of your trip to see the world’s best cars and drivers? Many visitors take advantage of a long weekend by extending their trip from Thursday to Saturday or Friday to Monday.

Make the most of it

Take advantage of this unique experience with packages that take the stress out of making the arrangements. The F1 Paddock Club Monaco offers some truly unique experiences to take you to the heart of the action. Tickets can be hard to come by, but the F1 Paddock Club Monaco offers a guaranteed ticket to some of the most exclusive areas of the grand prix.

After the chequered flag

After the race and the last of the champagne has been sprayed across the podium, the action doesn’t stop. After a quick clean-up, parts of the track open to the public, so you can get down there and see the rubber marks on the asphalt! There are also plenty of parties running through the night where you can enjoy a glass of bubbly with the rich and famous.

Dealer profitability boosted by used car sales in 2018

After a difficult 2017 which saw UK motor retailers making an average £400 loss, dealer profitability specialist ASE recently released figures that show retailers made an average profit of £2,900 in 2018, news welcomed by the motor industry.

New versus old cars

Much of the profit made by car retailers was thanks to used car sales, which increased 0.11% year on year (between December 2017 and December 2018). Not only did used car sales increase, but they outsold new cars by just under 50%. However, this doesn’t mean that new car sales were slow: approximately 200,000 people a month bought or leased a new car in 2018.

Overall, this presents a fairly positive picture for the sector, one which looks like it may continue – at least through early 2019 – as dealers make delayed WLTP sales.

The impact of WLTP on sales

Worldwide Harmonised Light Vehicle Test Procedures, or WLTP, were introduced in September 2018 across Europe. They are a new standard of emissions testing, one that is much tougher than previous tests. Following the introduction of WLTP, car sales saw a significant decrease, with some manufacturers, including Volkswagen, struggling to get their cars WLTP ready.

According to AES, this drop in sales was short-lived, with most retailers making up for any shortfall during December. Longer-term WLTP could negatively impact the sale of diesel cars, while positively influencing the sale of electric and hybrid cars.
WLTP may also impact the tax band a car falls into, something car buyers should be aware of along with those responsible for managing their company car process. To check whether your insurance is affected too, speak to your motor trade insurance provider, or industry experts such as quotemetoday.co.uk, who can provide you with more detail.

The impact of Brexit

The other major issue potentially facing the industry in 2019 is Brexit, and the uncertainty surrounding whether we will leave the European Union with or without a deal on 29th March, or whether negotiations will be extended. Already, some car companies have announced plans to move manufacturing overseas, while others have voiced their concerns with the lack of a clear plan. Whatever the outcome, it is clear that the motor industry will need to respond to a changing environment in order to continue to thrive.