The September 1 introduction of Worldwide Harmonised Light Vehicle Test Procedure (WLTP) has been blamed for a 20% slump in car dealership profits during the key ‘plate-change month.
Buoyant car registrations resulting from the September switch-over to WLTP and RDE fuel economy and emissions tests saw car dealers defy the usual August slump with a £200 average profit, ASE has reported.
ASE has launched a joint venture with Dealer Solutions North America to help North American motor retail groups buy UK dealerships.
Car dealers reduced their July losses by almost £5,000 year-on-year to “emphasise improvements made over 2017”, ASE’s monthly profitability report has shown.
AM asks a range of experts what selling cars in 2030 will look like
UK dealers saw profitability increase by 74% during Q2 this year, despite a slight slip in June’s performance, according to the latest figures from ASE.
HM Revenue & Customs (HMRC) decides dealer deposit contributions are not subject to VAT and invites claims to recover overpaid output tax.
The average UK motor retailer delivered a profit of just under £265 in May, compared to an average loss of £17,000 the previous year.
A £9,900 improvement in April profits for car dealers could be an indicator “the real prospect of a period of comparative prosperity”, according to ASE.
Startin Group has bought St Peters Peugeot and Suzuki dealership from Hylton Group Limited.
The average UK dealer made a profit of 106,771 in March, marking a fall of £7,700 - or 6.7% - from the prior year total.
Car retailers posted a monthly loss of £18,000 in February as new car margins continued to deteriorate ahead of a disappointing month of registrations in March.
Average franchised car dealer profitability in January was ahead of last year to £5,000.
Stirlng of Hereford has been acquired by Ponthir Suzuki and Honda following Motorline’s earlier acquisition of the group’s Hyundai dealership.
Car dealers who generated an £17,000 average profit in December 2016 suffered the effects of a £400 loss 12 months later, according to ASE.
Car retailers recorded an average loss of £19,000 in a "tough" November as the average return on sales percentage dipped to 0.97%.
The average UK motor retailer made a £2,000 loss in October.
The average UK motor retailer made a profit of almost £77,000 in September, an increase on the prior year of £8,600.
Dealers hopes for another VAT windfall have been dashed. The Supreme Court yesterday overturned earlier positive court decisions in relation to Littlewoods’ claim for compound interest on overpaid VAT.
Dealers looking to find ways to run more profitable operations can book a 20-minute session with ASE Global at Automotive Management Live’s profit clinic ahead of the one-day expo.
