Automotive executives believe that 30% to 50% of car dealerships will be closed by 2030, according to KPMG’s Global Automotive Executive Survey 2019.
The consumer car finance market grew 1% by volume during December according to the latest figures published by the Finance and Leasing Association (FLA).
Dealerweb has found that dealers across the UK saw revenues grow from new and used sectors in January while finance penetration increased.
A lack of “good quality and desirable stock” has not been enough to stall rising used car prices as demand from consumers defies the uncertainty caused by Brexit, according to Cazana.
Car dealers showed their ability to adapt to challenging market conditions by achieving an average profit of £2,900 during December, ASE has reported.
The National Association of Motor Auctions predicts that February will be a “strong month” for auction houses as volumes and conversions rates are expected to increase.
Automotive graduates were among the hardest hit by pay declines in the automotive sector as demand for technicians and logistics workers delivered a salary shift in 2018.
New car registrations declined by 1.6% despite a 2.9% increase in the number of private buyers starting 2019 with the purchase of a new vehicle.
European car manufacturers are concerned that a new EU-Japanese trade deal could see them lose ground in the UK to Asian rivals, according to UHY Hacker Young.
Used diesel values have dropped by more than 10% since 2017, as demand shifts towards petrol models.
The Financial Conduct Authority (FCA) has opened consultation on new rules which would require firms to publish General Insurance (GI) value measures data in a bid to improve transparency for consumers.
Rising overheads, increased competition, sourcing the right stock, Government policy and Brexit are all set to impact car dealers in 2019, according to responses to the CarGurus One Voice Report.
The threat of a ‘no deal’ Brexit halved the influx of fresh investment into the UK’s car manufacturing sector, according to the Society of Motor Manufacturers and Traders (SMMT).
The UK market suffered Europe’s largest decline in registrations during a year in which the region delivered its highest new car registrations total since 2007.
Used car values declined by 0.7% in January as dealers saw lower retail demand for vehicles priced over £12,000, Cap HPI has reported.
Suzuki has been voted number one car brand in the Institute of Customer Service’s January 2019 Index, achieving its best ranking ever.
Collecting insights from academics, customers and industry leaders, Syncron recently set out to understand how manufacturers can capitalise on the megatrend of servitisation, where manufacturers shift the focus of selling a product itself to the outcome or value that the product delivers.
Franchised car dealers should prepare for a rise in demand for MOTs as a record number of cars are due for their first test this year.
The used car markets record-breaking performance in 2018 is expected to continue this year, predicts the National Association of Motor Auctions (NAMA).
Tesla’s determination to dispense with a franchised car dealer network could be partly to blame for the electric vehicle (EV) manufacturer’s 2019 cost-cutting drive, it has been claimed.
