Lloyds Banking Group has allocated £450 million to cover potential expenses related to regulatory investigations into historic motor finance commission deals.
FIAT is renewing its call on the Government to reinstate its electric car grant to achieve its 2030 target of 80% electric vehicle (EV) sales.
Profits dropped significantly last year at the UK’s largest fleet owner – Motability Operations Group – in line with tumbling used car prices.
Chris Bond, tax partner and head of motor retail, at BDO UK takes a look at the key issues motor retailers should focus on during the coming year.
Auto Trader has posted a 121% increase in operating profit to £151.7 million for the half year ended September 30.
Inchcape has upgraded its group profit-before tax forecast for 2021 to “at least £290 million” driven by a stronger margin performance across the business.
Lookers recorded a 9% decline in pre-tax profits despite growth in aftersales and used cars as WLTP impacted new car supplies and economic uncertainty impacted consumer confidence in 2018.
Cambria Automobiles has seen a 17.3% rise in turnover and 53.2% rise in profit before tax to record revenues despite a “clear softening” of the retail market in Q2 and Q3, the group has reported.
New car finance saw a 15% increase in June year-on year to 84,526 units, according to the latest figures from the Finance and Leasing Association (FLA).
BMW Group Financial Services has appointed Preston Rogers as general manager of group brands in the UK.
