News - Page 1584

Glasgow-based Peoples has invested £2.5m in Europe's first Ford Direct Superstore which is projected to have a £2m turnover and sell 2,000 used cars a year.

Large dealer groups are struggling to make adequate returns on capital employed (ROCE) despite increasing turnover, according to the latest AM100 update.

Reg Vardy plc has declared a new record for interim profits but manufacturers' reorganisation of territories could prevent a similar full-year achievement.

Ford is reviewing its worldwide business interests after announcing 22,000 job cuts and five plant closures in the US. Worldwide production will be slashed by almost 1m vehicles a year.

Castrol has launched a brake fluid programme that it claims will help dealers to boost aftersales profits.

Daihatsu has introduced a three-year/60,000-mile warranty for all parts and accessories in a bid to boost dealers' aftersales revenue from the sale of original equipment.

Continental Group has sold tyre retailer National Tyre Service and Viking International, which distributes tyres, exhausts and batteries, to a management buy-out team headed by chairman and chief executive Alan Revie.

Discovery production is threatened by a dispute as Land Rover prepares to open a ride and drive Adventure Zone at the Bluewater shopping and entertainment complex near Dartford in Kent.

Thatcham has launched a management course for general managers who have worked their way through the bodyshop business without formal training.

Two-thirds of UK dealers are happy to buy cars on the internet, according to latest research in the UK. The report by PHRS for vehicle remarketer GRS suggested dealers are becoming increasingly confident buying vehicles from new channels.

Fiat Auto UK has appointed Inchcape to head its entire used vehicle remarketing activities in the UK for the next three years. The internet will be a major part of the new remarketing system.

Glasgow-based Peoples has invested £2.5m in Europe's first Ford Direct Superstore which is projected to have a £2m turnover and sell 2,000 used cars a year.

Advanced Claims Management, the claims handling business for the Budget Group of Companies has slashed its motor repairer network from 150 to 80 as it bids to improve operating efficiencies.

Subaru dealers are set to lose out on servicing revenue after importer International Motors dropped the six-month interval and streamlined the other schedules.

Founded with five employees in 1959, the Dick Lovett dealer group now has more than 400 staff with outlets in Cheltenham, Swindon and Bristol.

MG Rover remains in talks with China Brilliance about jointly developing and manufacturing new cars in the UK and China.

Leading accident repairer Howard Basford made a pre-tax loss of £900,236 in the year to December 2000 on turnover of £13.75m.

Auto Online creditors Baker Tilly are hopeful of selling the company's internet-based technology, but have made staff redundant.

Leading accident repairer Howard Basford made a pre-tax loss of £900,236 in the year to December 2000 on turnover of £13.75m.

Franchised dealers' service and parts revenue from cars up to four years old has collapsed due to extended servicing schedules, according to the latest Castrol Car Service & Customer Satisfaction Trend Tracker.

Reg Vardy has opened its first Smart Repair drive-in centre as it seeks to boost retail business by exploiting growing consumer interest in cosmetic repair services.

Malaysian carmaker Proton is to start selling cars at the Silverstone motor racing circuit in Northamptonshire.

Mazda Motors UK has extended its sales targets for 2002 following a successful end to last year.

Ford has announced plans to slash 22,000 workers in the US as part of an overhaul designed to return its American operations to profit.

Tom Walkinshaw, chairman of the TWR vehicle design, engineering and manufacturing group, has been charged with breaking the rules of rugby when he banned Rob Andrew from Gloucester Rugby Club's Kingsholm ground.

Jardine Motors Group Holdings, parent company of Lancaster dealer group, is to sell its stake in the Cica French dealership business as its increases focus on the core UK and Asian markets.

Sytner Group intends to rebrand its newly acquired Savernake Mercedes-Benz dealership in Newbury as Cruickshank Mercedes-Benz.

Pye Motors has become the first Ford main dealer to sign up to dealer management systems provider Pinewood Computer Solutions, after dropping its existing supplier Kalamazoo.

Jardine Motors Group plans to close its Equinox Business Partners financial services division after a fall off in business.

Retail prices paid by consumers for new cars dropped 2.2% year-on-year in November, according to Alliance & Leicester figures. This compares to a 1.5% drop the previous month.