BCA has revealed that the average value of a used vehicle rose 1.6% to a record £10,002 at its auctions in February as it praised the sector's resilience in the current COVID-19 coronavirus health crisis.
Chartered accountants UHY Hacker Young have prepared a guide to help car dealers prepare applications for Government loans set to help businesses following the COVID-19 coronavirus outbreak.
While Jaguar Land Rover (JLR) is still producing cars in the UK (for now), the rest of the UK mass auto industry has effectively shut down, as the devastating economic effects of coronavirus unfold across Europe, disrupting supply chains and dramatically reducing demand.
Auto Trader will suffer April losses of up to £7 million in a bid to help car retailers mitigate the impact of coronavirus by axing its April fees and deferring March payments for 30 days.
Business leaders from the car retail sector have been taking to email and social media to reassure their members of staff and customers of their actions amid the COVID-19 coronavirus outbreak.
Carwow is highlighting car retailers offering a remote buying service for consumers preferring not to visit showrooms during the COVID-19 coronavirus outbreak as part of a new 'Delivered & Disinfected' initiative.
Car showrooms have been included in the list of businesses which will be exempt from business rates during 2020/21 – regardless of their taxable value.
MHA MacIntyre Hudson has published a free report paper aiming to address car dealers’ immediate need for proactive business continuity planning as the impact of COVID-19 coronavirus begins to be felt.
Progress Suzuki managing director Terence Byrne has launched free 'clean air' air conditioning services for customers over 70 in a bid to show his business cares during the coronavirus outbreak.
With the COVID-19 coronavirus pandemic impacting global supply chains, concerns are growing that some automotive OEMs could be forced to switch components or find alternative sources of supply.
Ford and Volkswagen have followed PSA Group’s lead by suspending vehicle production at their European plants due to the outbreak of COVID-19 coronavirus.
Pendragon has revealed that it suffered a £117.4 million loss after tax in 2019 in an annual results statement that revealed the full impact of “significant H1 losses”.
Peter Vardy is offering free installation and use of his end-to-end online car retail platform SilverBullet in a bid to make the sector’s businesses more resilient to the impact of COVID-19 coronavirus.
The National Franchised Retailers Association (NFDA) has urged Government to introduce fiscal measures to protect the automotive retail sector from the impact of COVID-19 coronavirus.
As the ‘social distancing’ measures introduced to help limit the spread of COVID-19 coronavirus start to bite, it is inevitable that those vehicle showroom and workshop facilities that remain fully open will experience a reduction in consumer footfall.
The PSA Group has outlined its plan for a series of temporary closures at its European plants in light of the COVID-19 coronavirus outbreak.
Car dealers should open negotiations over potential rent arrears now as the COVID-19 coronavrius threatens to harm cashflow in the coming weeks and months.
The International Monetary Fund (IMF) and automotive sector analysts have expressed an inability to speculate over the economic impact of coronavirus as businesses grow increasingly “anxious over the duration” of the outbreak’s impact.
Chancellor Rishi Sunak has outlined an investment of £12 billion to help manage the effects of coronavirus on UK households and business in his 2020 Budget.
The Bank of England has cut interest rates back to a record low of 0.25% in response to the economic impact of the coronavirus.
