The UK’s consumer car finance market grew 1% by volume and 8% by value during August, according to new data from the Finance and Leasing Association (FLA).
Eastern Western Motor Company parent company Easter Holdings has reported a 10.1% increase in turnover and pre-tax profits up 15.1% in the car retail group’s 2019 annual financial results.
Demand for used diesel cars has driven average values up by 11.3% to the end of Q3 2020, outstripping increases among any other fuel type, according to Autrola market data.
TrustFord preparing for new store concept and aftersales openings after celebrating “stunning performance” to carry momentum from its COVID-19 comeback in Q3.
Motorpoint chief executive Mark Carpenter has said that the car supermarket group’s board “continues to look to the future with confidence” after a June return to profitability.
Ford retailers who are unable to find £750,000-per-dealership site to fund a post-Brexit change to the brand’s VAT invoicing regime could be forced out of business, it has been claimed.
Auto Trader has officially launched a Retailer Performance Masterclass (RPM) online hub with the aim of providing advice and support to car retailers through a series of “bite size” best practice tutorials.
Cazoo founder Alex Chesterman told AM that it is “too early to speculate” about a possible market floatation of the online car retail business, following publication of its 2019 annual financial results.
Red Rose Mitsubishi has added a SsangYong Motors UK car retail franchise to its dealership site in north Birmingham.
Vertu Motors’ COVID-19 recovery accelerated the AM100 PLC to a £19 million profit in Q2 to reverse a £14.3m Q1 loss and deliver a profit in a challenging period for automotive retail.
New registrations in the light commercial vehicle (LCV) sector remain 27.4% down year-to-date despite a growth of 26.4% in September, the SMMT has reported.
The average UK car retailer delivered a £28,000 year-on-year swing to profitability in August to ensure “a profitable 2020 seems very much in reach for the average retailer”, according to ASE.
Shelbourne Motors has marked the first anniversary of the opening of its £5 million multi-brand car dealership in Newry with a 20.5% increase in pre-tax profits in its 2019 annual financial results.
Used car retailers saw their stock turn accelerate by 10 days in September as average advertised prices rose by 1.8%, eBay Motors has reported.
Mazda has built on its ‘Mazda My Way’ home test drive concept to take car buying to customers across the UK with its new ‘Mazda Your Way’ pledge.
