Car retailers’ efforts to acquire affordable used cars for their forecourts have driven the sector’s vehicles to their highest February value growth since 2012, according to Cap HPI.
Organsers of the Geneva Motor Show 2020 have confirmed that the annual automotive showcase event will go ahead despite the outbreak of coronavirus in key car manufacturing nations across the globe.
Ford retailers whose new car sales businesses have been put at risk by the manufacturer’s plan to close almost half of its 400 UK dealerships by 2025 are demanding changes to their aftersales contracts.
Inchcape reported a 1.3% increase in turnover and a 256% increase in its profit before tax in its full-year financial results for 2019.
Car production slumped to a nine-year January low in the UK despite a 4.1% year-on-year rise in exports volumes, the Society of Motor Manufacturers and Traders (SMMT) has reported.
Ford will close almost half of its 400 UK franchised car retail sites as part of a ‘Ford 2025 dealer plan’ revealed to its investor partners at a conference today (February 26).
PSA Group chairman Carlos Tavares has said that he is “eager to enter a new era” following the merger with FCA Group after revealing details of record financial results in 2019.
Confidence in the 2020 car retail market was expressed by 98% of respondents to a Close Brothers Motor Finance in a survey to gauge the mood among the sector’s businesses.
Car dealers’ part-exchange vehicles reached record values at BCA’s auctions during January as the sector continues to compete for a wide range of vehicle stock to fill their forecourts.
Ford is said to be in talks with its franchised partners as part of a bid to accelerate the “natural erosion” of its UK dealer network.
The Financial Conduct Authority (FCA) has fined automotive finance provider Moneybarn £2.77 million for failing to treat "vulnerable" customers fairly when they fell behind with loan repayments while in financial difficulties.
Franchised car retailers proved more resilient than then independent used car selling counterparts during 2019’s tough trading conditions, according to the CarGurus One Voice Report.
Car manufacturers' focus on electrification strategies has become so important in 2020 that areas around digitalisation and mobility services are being scaled back, according to Frost and Sullivan.
The Finance and Leasing Association (FLA) has reported a 3% increase in the value of new business in the car finance during 2019.
Motor traders have faced a dual challenge in the last year or so, reviewing their affordability assessments to meet new guidance from the FCA at a time of economic uncertainty.
A total of 1.15 million county court judgements (CCJs) during 2019, making it a record year of action against consumers in debt, the Registry Trust has revealed.
Coronavirus has joined 2020’s shift to stringent EU CO2 emissions regulations to threaten UK car dealers’ supply of vehicles and parts, according to Cox Automotive.
The UK’s used car market ended 2019 just 0.1% down with 7.9 million sales following two months of growth in the second half of the year, the Society of Motor Manufacturers and Traders (SMMT) has reported.
Car dealers achieved their lowest return-on-sales (RoS) figure since 2011 in 2019 after rounding off a “tough” year with a £1,700 loss in its final month, according to ASE.
January’s usual flurry of new car discounts appear to have failed to generate the “boost in fortunes” usually delivered by the first month of the new year, according to Rupert Pontin, director of insight at Cazana.
