Pendragon’s leadership team are today preparing for a shareholder revolt as Hedin Group joined other key stakeholders in stating it will vote against “out of tune” bonus payments.
Johnsons Cars has revealed a 14.1% rise in turnover and a 410% rise in profit before tax in a COVID-impacted 2020 annual financial results statement.
Aston Barclay’s decision to allow car buyers to return to its auction halls when COVID-19 ‘Lockdown 3’ ended in April has delivered a 17% uplift in attendances.
Society of Motor Manufacturers and Traders (SMMT) chief executive Mike Hawes has said the used car retail sector can look forward with “renewed optimism” after an 8.9% decline in sales during Q1.
Cambria Automobiles chief executive Mark Lavery has said that the group has experienced “tension” from certain OEM partners over COVID safety measures which have seen customers turned away from its car showrooms.
The Society of Motor Manufacturers and Traders (SMMT) has said that April’s 13.9% rise in new car registrations show that there is “light at the end of the tunnel” after COVID-19.
Cambria Automobiles has set out its roadmap to car retail recovery in a trading updated for a six-month period which saw the majority of its dealerships closed for more than 100 days due to COVID-19 restrictions.
Group 1 Automotive has reported a “solidly profitable” Q1 for its UK car dealerships, despite the impact of COVID-19 ‘Lockdown 3’ showroom closures.
Car manufacturers have told the Society of Motor Manufacturers and Traders (SMMT) that their COVID-19 recovery will take “at least six months” in the UK.
Swansway Group has reported record profitability and growth in its car and van sales volumes in annual financial results detailing its performance during a COVID-impacted 2020.
The Ben automotive benevolent charity’s Ben Ball will return for 2021, bringing relief to fund-raisers who faced a £1 million shortfall after last year’s COVID-enforced cancellation.
More than two-thirds (71%) of car showroom visitors feel they are safer than the supermarkets that were allowed to remain open throughout the UK’s lockdown periods, a What Car? survey has found.
Manheim Auction Services has said that it will continue to waive its online car buying fees and offer free vehicle collection as part of its Accelerate package of COVID-19 recovery support.
Aston Barclay managing director Martin Potter has said that the success of the remarketing provider’s return to physical auctions after ‘Lockdown 3’ could mean it has to “turn traders away”.
Aston Barclay has reported that its used car sales volumes in a COVID-19 hit Q1 were a match for those of the same period in 2020.
More than a third (38%) of drivers have delayed their car buying plans as a result of economic uncertainty caused by COVID-19 and Brexit, a report by Close Brothers Motor Finance has found.
Heycar is increasing payment terms to 60 days until the end of Q2 to provide dealers with ‘welcome breathing space’ as after this week's showroom reopenings.
A shift from traditional showroom-based car sales to a wholly-online retail solution would cut dealers cost-per-sale by over 40% - saving the sector £9.5bn a year.
More than a third (37%) of used car transactions, including finance applications, took place entirely online during COVID-19 'Lockdown 3', according to iVendi.
Car dealerships' approach to staffing during the COVID-19 crisis has proved pivotal for the long-term profitability of businesses, according to MotorVise founder and MD Fraser Brown.
