News - Page 1673

Dealers can now source parts over the internet with the launch this month of Partstrade.com.

Scuffs, the Bristol-based vehicle cosmetic repairs firm, has secured £7.8m of funds from venture capitalist European Acquisition Capital as it targets nationwide coverage within two years.

Horners of Burnley is bypassing Fiat to source and supply parts direct to customers after launching a mail order scheme.

The Zurich Insurance approved repairer network, set up with the Motor Vehicle Repairers Association last year, could be reduced by nearly a half, according to an industry insider.

British Car Auctions is to establish a used car auction company in France next month with Renault Credit International.

Owners of the first 1,000 forecourts subscribing to the CarXchange online vehicle location business before the end of December 2000 will receive shares worth a total of 10% of the business.

Franchised dealers want to buy foreign currency from online traders such as Currencies4Less.com now the Government is encouraging them to import from mainland Europe.

Nationwide Accident Repair Centres, the bodyshop division of the Perry Group, has acquired the Bodywork accident repair business in Daventry, Northants.

The Association of Body Repairers is concentrating on cutting costs for its body repair members by acting as a direct supply chain.

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.