Ex-Formula One racing champion Damon Hill has said he has serious intentions of growing his car retail business after today announcing the acquisition of the Warwick Sytner BMW dealership for an undisclosed sum.
HMG Holdings, Britain's 20th largest motor retail group, was today in the hands of receivers. It is believed to have debts of between £50m and £60m.
The colour of a car can make a difference to the price of a used car of between 10%, according to Cap Motor Research.
General Motors has laid out a £40m proposal to develop an internet site that will allow rival carmakers to sell cars alongside those of GM dealers. The site – likely to be called Autocentric.com – will be tested in a US city within six months.
Total Eurekar has announced a £15m turnover since launching its Totalise online car retail business in October.
General Motors is said to be planning to invest up to £350m a year in Saab Automobile in a push to double volumes – while Ford says it plans to cut European expenditure by £1.5 billion.
<b>GENEVA MOTOR SHOW:</b> The first all-new car to be introduced by MG Rover since its sell-off by BMW will be a medium sector model designed as a direct competitor to the Volkswagen Golf.
<b>GENEVA MOTOR SHOW</b>: Mercedes-Benz UK dealers have called on DaimlerChrysler UK to “justify or withdraw” the termination notices that were issued earlier this year. They warned that failure to do so would force them to take their case to the High Court.
Ford and Vauxhall are the worst offenders in the latest SMMT pre-registration figures, accounting for nearly 90% of the 315 cars pre-registered in January.
Peugeot executives will decide by summer whether to add another model to the assembly lines at Ryton, Coventry.
The motor industry today called for the Chancellor to clarify the government's position on the single currency in the Budget next Wednesday.
The implementation of market area policies and mass terminations by manufacturers are creating new challenges for dealers. Martin Vickerman, Reg Vardy plc group property development manager, believes there is an exciting future for motor retailing as long as groups manage their properties well.
Self-styled 'internet car benefits' company eDefined, which offers low-cost nearly new vehicles to company car employees who have taken cash, claims to have 1m people accessing its services.
Skoda Auto is considering increasing the number of vehicles it disposes through auction after a successful solus agreement with Manheim Auctions.
##DC--left## DaimlerChrysler warned today that its restructuring plan would lead to first quarter losses of between £2.4 billion and £2.7 billion.
Motor manufacturers will be vying for the world's attention at the forthcoming Geneva motor show with a host of world debuts.
Retail demand has continued in a steady vein throughout February. Clean, ready to retail cars are still making strong money, although there is reluctance from the trade to buy cars that require reconditioning work in any way, shape or form.
September will see the introduction of a new registration system with the format 'YA51 ABC'. The first two letters are regional identifiers, the numbers are age identifiers and the last three letters are chosen at random.
Alfa Romeo's 156 sports saloon has just been voted Dealers' Choice Car of the Year 2000/01 in the upper medium category, by a sample of the UK's franchised motor dealers.<p>
The boss of Chrysler Jeep UK Simon Elliott (right) has written to all 103 of its dealers reassuring them that despite the upheaval at DaimlerChrysler in the US, there will be no job losses in this country – and he has set them increased targets for the year.
PSA Peugeot Citroen has set itself a target of 3m vehicle sales this year after today announcing an 80% increase in 2000 in net profits. The growth in sales will come from an accelerated product roll-out.
##DC--left## DaimlerChrysler is understood to be preparing for a shake-up of its senior management team which will see the creation of an executive automotive committee headed by group chairman Jurgen Schrempp.
Land Rover has been accused of having a 'chaotic' pricing policy by one of the pioneers of online car retailing.
The Volkswagen Group has announced a record 37.5% rise in profits in 2000, from £1.59 billion in 1999 to £2.19 billion last year. Sales in 2000 reached £53.9 billion (1999: £73.3 billion).
OneSwoop today announced the launch of a used car trade-in service on its website, provided through its new partnership with The Internet Car Company.
Dealers are being offered a free route to market for their used stocks of cars, motorcycles and commercial vehicles by online stock locator Autopig.co.uk.
Residual values in the UK have fallen by 6.5% in the last 12 months according to the latest EurotaxGlass's European Used Car Residual Price Index, published by eurocarprice.com.
Land Rover has been forced to cut prices by £3,000 due to the burgeoning market in European imports.
Nissan has played down reports that it is due to make an announcement soon that the new Almera will be built at Sunderland, alongside the Micra. A company spokesman accused the national press of “running away with the facts".
Pendragon boss Trevor Finn has described the company's full year financial results to December 31 which saw a slight fall in turnover year-on-year to £1.4 billion (1999: £1.8 billion) and underlying profits after exceptionals of £12.1m (1999: £15.3m) as “creditable”.
