Substantial franchised car retail network reductions and restructuring is required if operators are to benefit from a significant increase in the profitability of operators, according to a new report published by the ICDP.
New car sales declined by 6.7% during October as consumer confidence dipped to its lowest level for six years as talk of a December General Election grew in volume as another Brexit deadline loomed.
The volume of customer enquiries made to UK dealerships rose by 20% year-on-year during Q3 of 2019, according to new data published by Marketing Delivery.
Volkswagen and Tesla were among the European new car market’s biggest market share winners as registrations in the region rose by 14% during September, Jato Dynamics has reported.
The National Franchised Dealers Association (NFDA) Consumer Attitude Survey has revealed evidence of consumers increased interest in car dealership visits despite warnings that buyers intention is failing.
The average dealer staff pay package, excluding management positions, fell by 3% to £40,000, according to the latest figures from the BDO Motor Salary Survey.
Franchised car retail groups are choosing to exit the UK fleet sector as their leasing divisions attract big offers from banks and car manufacturers amid a squeeze on profits from their core retail operations.
The Mayor of London Sadiq Khan will give low income and disabled Londoners the chance to swap into a lower emitting new vehicle with the extension of the capital’s £2,000 vehicle scrappage allowance scheme.
Sandicliffe Motor Group’s Sandicliffe Motor Contracts (SMC) is pulling out of the UK fleet market due to continued pressure on profits and “challenging trading conditions” in the sector.
Car supermarkets grew their stock of used vehicles by an average of 11% during September in an effort to capture car buyers looking to buy in the key number plate change month, Motors.co.uk has reported.
Pendragon has delivered an interim statement to share news of a 57.9% growth in underlying profit before tax as revenues and profits continued to decline amid mass site closures during Q3.
Half of Auto Trader’s monthly top ten fastest selling cars rankings was made up of diesel powered vehicles as buyers demonstrated a continued appetite for the fuel type.
Unseasonably low September used car stock levels drove “a super-heated wholesale market”, according to the latest Cox Automotive Market Tracker report.
A third of UK automotive business are already cutting jobs ahead of Brexit and 79.6% have expressed concerns about the split’s effect on their future profitability, according to the findings of an SMMT survey.
The Financial Conduct Authority (FCA) has opened a consultation in a bid to ban car retailers’ discretionary finance commission model – saving UK car buyers an estimated £165 million a year.
The Mercedes-Benz E-Class was the fastest-selling used car in September with the highest average price recorded so far in 2019, according to Indicata.
Swedish electric vehicle (EV) manufacturer Uniti is set to side-step traditional car retailers when it delivers its £15,100 Unity One zero emissions urban hatchback to the first customers in mid-2020.
Research from Zopa has shown that UK car buyers are confused when picking which car finance option is the best to fund their next purchase.
Vacuum giant Dyson has called time on its £2 billion project to market an electric vehicle (EV) after concluding that sales of its “fantastic electric car” would not be economically viable.
The Finance and Leasing Association (FLA) has reported that the automotive retails sector’s point of sale finance business declined by 2% during August.
