Motor retail experts are expressing their amazement that Ford has sold Kwik-Fit to CVC Capital Partners for just £330m after buying the company for over £1bn three years ago.
Porsche Cars Great Britain has awarded Group Tyre an exclusive contract to supply OE stock to its UK retailers.
Aerospace and automotive engineering giant GKN has announced a five per cent fall in first-half profits before tax, goodwill amortisation and exceptional items. Compared with the same period in 2001, profits were down by £7m to £136m.
Maranello Sales, the Ferrari and Maserati retail division of Maranello Concessionaires, is set to open the world's largest service centre for the Italian sportscar marques.
Profile Glass, the automotive glass supplier, has launched a new web-based supply arm - Glass Auto.
Tony Parr has been announced as assistant general manager at shock absorber and suspension specialist Kayaba. His appointment comes as the company gears up to introduce several new products and expand into the European markets.
The European Commission is poised to publish a statement on car tax harmonisation, but initial plans to phase out registration tax have been delayed after resistance from British MEPs.
A multi-franchised showroom in Jersey could point the way forward for dealer groups in large cities and conurbations post-block exemption.
Talks between Inchcape and Tesco are ongoing, but the supermarket chain has made no decision whether to enter the car retailing sector post block exemption.
A pilot scheme for a new nationwide used car inspection service has been launched in Leeds. The Used Car Checks Centre franchised network plans to go national by the end of the year.
New car sales came back from a disappointing June to record a best ever July putting the market back on course for a record year. Last month, new car registrations were up 13.1 per cent to 195,637 beating July 2001 by 22,635 units.
Mazda has launched a new finance arm in the UK in a bid to build on its current success. Hot on the heels of the new Mazda6, Mazda Credit allows dealers to offer a range of over the counter retail products as well as fleet-focused business to business services.
Andy Carroll has been confirmed as designated managing director of the new GM Daewoo Auto and Technology (GM DAT) UK, due to be fully operational by the fourth quarter.
Proton subsidiary Lotus Engineering is to design a new niche range for a volume car manufacturer, using UK-developed technology to slash build costs.
PKF, the administrator for Jensen Motors, is poised to announce a buyer for the collapsed sportscar maker. It received two firm offers a week ago and expects to announce “further developments” this week.
Ford has sold Kwik-Fit to CVC Capital Partners, a private equity group, for a cut-price £330m, but it will retain a 19 per cent stake in the business.
Hyundai Car (UK) will next month launch a five-year/unlimited mileage, manufacturer-backed warranty as part of a strategy to boost sales by establishing a competitive edge in the aftersales market.
Budget, the world's third largest car and truck rental firm with 110 sites, has collapsed blaming a slump in business following the terrorist attacks in America on September 11.
Automotive retailers are set to face a new challenge from an old market player - the oil industry.<p>
Mitsubishi Motors UK is preparing to relaunch its Red Zebra used car programme in October to cope with an expected increase in capacity over the next two years.
Major dealer groups are preparing to reposition themselves as 'superfactors', wholesaling all-makes replacement parts to the aftermarket.
Aston Martin faces further industrial action this week after the Transport and General Workers Union announced strike dates.
Volvo will reveal its all-new S40 at next month's Frankfurt Show. The new S40 will be the first Volvo built using Ford-based hardware and component sets since the Swedish carmaker was acquired by the American giant in early 1999.
Black Horse Motor Finance has been forced to speed up the introduction of its new approved dealer scheme after an unprecedented level of interest from retailers.
Motorhouse 2000, one of the UK's largest car supermarkets, has opened a new site boosting next year's projected turnover to £150m.
Saab will take the wraps off a new sports hatch concept (pictured below) at next month's Frankfurt motor show as it prepares to launch the 9-3 estate next year.
CD Bramall has consolidated its position among the top dealer groups in the UK with a strong set of results for the six months to June 30, 2003. Pre-tax profits rose 28 per cent to £17.1m and turnover soared 57 per cent to £905m following last year's acquisition of Quicks.
Ryland Group chairman Peter Whale has warned shareholders that the company will lose its franchises unless questions over future ownership are settled urgently.
