Just as last year saw a constant drip of bad news in the used market, 2009 has consistently delivered the reverse.
RMIF chief executive Rob Foulston talks about his new role.
Mercedes-Benz UK is considering opening apprentice training facilities in a number of locations nationally which would provide training to the independent garage sector.
Electric cars will be mass introduced in the UK, as the Prime Minister plans an environmentally-friendly budget.
General Motors is looking to have sold its Swedish brand Saab by June, with reports of up to 20 bidders already vying to takeover the company.
Marshall has appointed Neil Crossley as market area manager for its three recently-acquired businesses in York, Hull and Scarborough.
Saab dealers have been dealt another blow as the brand’s contract hire business has been closed.
As one of the phenomenons of the crisis impacting our industry and that of the wider economic meltdown, the decision to cancel next year’s British International Motor Show was one of the least surpising or significant.
Dealers and the local media are exploiting the AM Buy A Car campaign to drive home to consumers the great deals available on new and used cars.
Nissan and JLR secure European funding The European Investment Bank (EIB) has approved funding for Nissan and Jaguar Land Rover in the UK.
Motor Codes is pushing business for its garage network by appealing to motorists to keep their cars in good condition.
Despite the British International Motor Show 2010 being cancelled recently, plans for this year’s London Motorexpo are firing ahead, said its organisers.
New car registrations in Scotland in March fell year-on-year by 22.82% to a total of 31,428 units
GMAC UK is including free involuntary unemployment cover on all its new and used car finance packages, covering repayments of up to £1,000 per month.
The March plate change failed to boost new car registrations which fell by 30.5% in March to 313,912 units.
A former director of an Irish car company has been given a 15-month suspended prison sentence and fined £145,000 for price-fixing, in breach of competition law.
Two UK car manufacturers are expected to hear this week whether they will get help from the European Investment Bank.
Aston Villa football club is offering free tickets to its April 12 game against Everton to LDV employees in a bid to boost morale.
Dealers could benefit from an anomaly in the new Capital Allowance rules which means some high-polluting cars will be cheaper for customers to lease.
It seems some online motoring media got caught out on April 1 with the array of April Fool’s jokes that some manufacturers put out.
Rob Whalley has been appointed managing director of IFM Europe, a subsidiary of Australia-based parts solutions firm Infomedia.
General Motors and Chrysler were given deadline extensions this week from the US Government to attempt to secure their futures.
Inchcape, Britain’s most diversified dealer group, now operates in 26 countries. But only one, China, is still growing according to chief executive André Lacroix. In announcing his 2008 financial results last week Lacroix said: “The downturn affecting our industry has spread throughout the world in the last six months.” Lacroix has made a dash for cash while the equity market is in a mood to accommodate bargain share issues. The 6p rights issue was a massive 88% discount to the prevailing price in the market at the close the previous night. The take-up was good enough for shares to settle at 65p. The cash-raiser yielded £232 million. It will not be extensively used to pay down debt as £150 million of stock reductions already planned will reduce debt even after capital spending on acquisition installments of £60 million and a pension fund top-up. The UK market in March at the half-way point was “very similar to the 28% year-to-date decline”. The fall in pre-tax profit in the year was from £240 million to £108m on revenues that were up 3%, but adjusted for currency were down 4%, like for like. The first half was actually very strong with a record margin of 4.4%. Profit was hit further by exceptional charges for £82.5 million on closures, redundancies and the right-down of values on recent acquisitions. In 2008, vehicle sales from Inchcape’s UK retail operation on a like-for-like basis were down 5.4% against an 11.3% market decline overall. Before the rights issue, Inchcape had gearing 1.9 times earnings so analysts gave the swift and decisive action a warm welcome. The rights issue is believed to have been fully taken up from the underwriters and the share price has strengthened.
SMC Renault Group closed its dealership in Guildford at the end of March.
Buyers always move to more practical choices in a recession (remember when the 1989-91 recession decimated coupé sales?).
IM Group has merged the Subaru, Isuzu and Daihatsu brands under a single management structure, with Paul Tunnicliffe at the helm, in order to reduce costs.
Carmaker targets buyers' concerns over job security
Seat will launch an estate version of its Ibiza model in UK showrooms next year.
Two years after branching into car franchises, Bell Truck Holdings has closed its two MItsubishi dealerships.
Following on from Citroen’s announcement that it has launched a new Secure scheme to allow customers to return their cars if they are made redundant, other manufacturers have launched their own ideas to reassure customers this spring.
