News - Page 1667

Heavy national advertising of special offers by the major carmakers brought buyers back into the market in May.

High Street lending rates have remained stable through the month and look set to remain that way for some time to come.

Heavy national advertising of special offers by the major carmakers brought buyers back into the market in May.

There is a short term approach to subsidised finance deals at the moment. The reasons are two-fold.

After several months of uncertainty it looks as if the industry can begin to look forward beyond its present difficulties.

Great Universal Stores has become the first major financier to offer public support for unofficial car imports after its General Guarantee Finance division provided investment funds for Wundercars.co.uk

General Motors' finance division GMAC is emerging as favourite to buy Chartered Trust, the finance and leasing division of Standard Chartered which was put up for sale this month.

Rover has released the first official picture of the 75 estate which is set to go on sale in time for the new-style number plate in September 2001.

Some of the largest dealer groups in the AM100 are returning the worst results on capital employed, suggesting they will have problems attracting future investors.

The replacement for the Lantra will be badged Elantra in the UK by Hyundai Cars UK as long as Lotus - owner of the Elan name - does not object.

DC Cook has teamed up with communications company Ntl to sell new and used cars via interactive TV from next month.

Nissan dealers in the UK who have seen Renault assume rapid and complete management control of the Japanese manufacturer are feeling vulnerable.

Fiat Auto will launch an online buying service in the UK next month with cars sold through its dealer network.

Failing computer management systems are costing franchised dealers more than £167m a year, according to new research.

Plans by the Government to make it easier for dealers to buy cars from their counterparts in continental Europe caught senior motor industry executives off-guard.

Carmakers were accused by Richard Lownsbrough at the AM Used car crossroads conference of excessive pricing of used cars linked to customer satisfaction payments.

Manufacturers have attacked Government plans to reduce new car list prices and allow dealers to import from continental Europe as “unworkable”.

The edges between the new, nearly-new and used car sectors are blurring as dealers take more business from private sellers, according to Mitsubishi general manager of fleet and used cars Matthew Cheyne.

John Kiff, a director of the International Car Distribution Programme, has challenged the industry to develop a new and leaner approach to selling used cars, suggesting there was scope for a futures market.

Richard Foan, Audit Bureau of Circulations managing director, is urging dealers to get involved with the internet immediately or risk missing out on its full potential.

Peter Vardy normally works a 12-hour day running his £1.3bn turnover company which is the UK's third biggest motor retailer.

Gerard Ryan has been confirmed as the new managing director of motor finance giant GE Capital Woodchester. Mr Ryan, the former finance director, had been acting managing director since March.

Dealers turning away people with a poor credit rating - also known as sub prime - are missing out on good long-term potential business, finance adviser John Hawkins told delegates at 'Used car crossroads', the Automotive Management spring conference.

Dealer websites have “room for improvement”, according to HPI automotive director Martin Brassell who believes they need to become more interactive in order to attract used car buyers' attention and provide the dealership with more background information.

Land Rover aims to cash in on the booming double-cab pick-up market with the launch of the Defender 110 Double Cab.

Citroen's specialist commercial vehicle dealer network is now selling a Klege Europ temperature-controlled vehicle.

EasyJet entrepreneur Stelios Haji-Ioannou is challenging the car daily rental market with his Easyrentacar.com cut-price rental firm.

Ford is planning a radical shake-up of its new Land Rover division after two years of losses under BMW's ownership.

Phoenix Consortium has called on former Rover executives to fill vital board positions, believing they have the experience and background knowledge to drive the carmaker into profit.

Carmakers face an annual bill of £300m in the UK for scrapping worn-out old cars and light-medium commercial vehicles returned by owners, according to the Society of Motor Manufacturers and Traders.