Inchcape looks set to continue its recent round of business disposals after agreeing to sell its Inchcape Fleet Solutions (IFS) UK vehicle fleet management and funding division to Toyota for £100m.
While consumer confidence seems to have improved during the key number plate change month of September efforts to prop up ailing new car sales seem to be hampering parts of the used car market.
The average UK car dealer lost £14,000 during August in what has been described as a “significant deterioration” on the break-even result achieved in the same month a year earlier.
Peoples Ford chairman Brian Gilda has repeated his warning that a no deal Brexit will trigger “Armageddon” for UK industry as the group announced its latest set of annual financial results.
The roll-out of the worldwide harmonised light vehicle test procedure for vehicle emission into the commercial vehicle sector has triggered a 23.5% decline in September registrations.
New car registrations rose just 1.3% as the key numplerplate change month of September saw the sales appeal of the new 69-plate struggle to overcome consumers' "Brexit anxiety".
Inchcape has announced that its will leave the Chinese car retail market with the sale of its Lexus, Porsche and Mecedes-Benz dealerships in the country for over £54 million.
The value of a used electric vehicle (EV) rose by an average of 30.4% in August as year-on-year like for like values in the wider market declined by 1.3%, according to Auto Trader.
MHA MacIntyre Hudson’s Motor Specialist Team has seen a significant rise in HMRC enquiries at both franchised dealers and car supermarkets.
Aston Martin’s decision to raise £120m in senior secured bonds in a move which will see it paying 12% interest has been described as an “all-or-nothing rescue attempt” by the Financial Times.
An 8.7% decline in new car registrations across Europe during August has been attributed to the rush to sell vehicle not compliant with the incoming WLTP a year earlier.
The Society of Motor Manufacturers and Traders (SMMT) has highlighted a “failure to make back spring Brexit shutdown losses” despite a 3.3% growth in UK car manufacturing volumes during August.
Cap HPI’s live used vehicle valuations have recorded their first average value growth figures for 18 months.
Volkswagen Group has branded allegations that chief executive Herbert Deiss and chairman Dieter Poetsch were guilty of market manipulation in connection to the dieselgate scandal as “groundless”.
Representative from the industry bodies behind Europe’s automotive manufacturing sector have united in their efforts to deter the UK and EU from allowing a ‘no deal’ Brexit to go ahead.
The used car remarketing sector “continued to strengthen” during August as the average price of a vehicle sold via BCA rose 2.9% month-on-month.
The Government’s recently Operation Yellowhammer ‘no deal’ Brexit contingency plan will have notable implications for the motor finance sector, according to Bluestone Credit Management.
Seat’s Alhambra has grown its reputation as an in-demand MPV thanks to the results of sales data compiled in Auto Trader’s monthly fastest-selling cars rankings.
Pendragon has announced plans to close 22 of its Car Store used car supermarkets and one vehicle preparation centre after detailing a £32.2m underlying pre-tax loss in its H1 2019 financial results.
A reduction in vehicle usage is leading to an increased demand for lower annual mileage car leasing agreements, according to data published by Leasing.com.
