Used vehicle values rose by 7.88% as BCA auctions processed record volumes of car sales in its auction sites across the UK during January, its monthly Pulse Report has revealed.
Vertu Motors’ Mercedes-Benz dealerships in Reading Slough and Ascot will be overseen by Mark Gibbings after the experienced brand operator was appointed as market area director for the brand.
Aston Barclay has reported that sales of diesel-powered ex-fleet cars have reached a two-year high value at its UK auction sites – indicating the fuel still holds appeal to traders and consumers.
DM Keith has acquired Grimsby’s Westgate Motor Group in a move which sees the group expand the size of its portfolio to ten franchised dealership sites.
Inchcape is preparing to redevelop Derby’s former cattle market site as a Jaguar Land Rover dealership after acquiring the 11.5-acre site for an undisclosed sum.
The SMMT has increased its forecasted 2018 new car registrations decline from 5.4% to 5.7% in its latest prediction of how the market's performance between now and the end of 2019.
Corporate fleets leading the exodus away from the fuel as more than 59% of the overall fleet sector asserts that it will not replace vehicles with those powered by the once popular fuel-type.
Auto Trader sees used diesel car prices rise by 3% Used diesel car prices rose by 3% as the average price of a used car rose 6% industry-wide, according to Auto Trader’s Retail Price Index. Despite a fall in the share of searches by fuel-type targeting a diesel vehicle, 71% In November 2016, to an annual low of 53% in January, diesel car sales via the online marketplace generated an average value of £14,405 in last month, compared to the £12,775 realised by the average used car sale. The Auto Trader Retail Price Index analyses data from over 500,000 trade used car listings every day, as well as additional dealer forecourt and website data to deliver its monthly statistics. It said that the £777 increase in the value of a diesel car sold via its platform represented “a promising start for used diesel prices” However, petrol saw a more impressive leap in used prices in January, recording an average price of £10,713, which is a £1,733 jump on January 2017 – representing a 10% increase on a like-for-like basis. Online searches for petrol cars, meanwhile, have steadily risen and accounted for 43% in January 2018, compared to just 26% in November 2016. In January 2018 4% of all fuel-related searches were attributed to alternatively fuelled vehicles, which was no movement from December and a 1% increase year-on-on. Comparing the total volume of AFV searches across the year, the number of searches for AFVs on Auto Trader increased 65% between 2016 and 2017, with electric alone recording a huge jump of 84% in searches. Karolina Edwards-Smajda, Auto Trader’s retailer and consumer product director, said: “With new diesel registrations continuing to tumble, it’s very reassuring to see used diesel prices not only retaining their value, but actually increasing in January. “It’s clear, however, just how harmful the government’s strong anti-diesel stance has been on the automotive industry. “We can see that the misstep in not clarifying the difference between new Euro6 and older vehicles has seriously dampened consumer buying confidence, reflected in both the ongoing fall in new diesel registrations, as well as the searches on our market place.”
Kia is preparing for a Six Nations take-over of London's Waterloo Station and a continued push on sports sponsorship as it looks to make its mark in “one of the most competitive environments in the world” with its Stinger performance car.
MPs have called for the return Motability scheme funds to the treasury after it emerged that the charity was holding on to £2.4 billion after “decades” of underspending to the tune of more than £200 million-per-year.
WMS Group has targeted success in an “exciting year” with the help of new appointment Keith Pipe who has joined the group as its new head of sales.
Car retailers face a £158.5 million tax rise over the next five years as “further increased liabilities if investing” place further pressure on an industry which has lost one-in-ten locations since 2009.
DS Automobiles UK will gain its first dedicated managing director when Alain Descat takes up the newly-created post in April.
Car dealers who generated an £17,000 average profit in December 2016 suffered the effects of a £400 loss 12 months later, according to ASE.
Northern Ireland’s Donnelly Group has acquired Eakin Bros’ County Londonderry Vauxhall franchise in an expansion which saw it claim to be “the home of Vauxhall in the North West”.
