SsangYong Motor Company (SYMC) has applied for bankruptcy to South Korea’s Seoul Bankruptcy Court after the impact of the COVID-19 coronavirus pandemic left the carmaker facing financial difficulties.
Car retailers impacted by the new ‘Tier 4’ COVID-19 lockdown restrictions imposed in the South East were among those who told BDO that the incoming vaccine will deliver a “sharp recovery” from the pandemic.
As Automotive Managemnent (AM) asks UK car retail businessses to share their hopes and fears for a COVID-19 and Brexit-impacted year ahead in the 'Outlook 2021 Survey', David Borland, EY UK & Ireland automotive leader suggests there could be cause for "cautious optimism".
The number of people shopping for a car increased markedly after England came out of November's 'lockdown 2', according to data analysed by Auto Trader.
As car retailers dust themselves down after the rigours of an unpredictable 2020 AM has compiled a three-minute survey to learn of the sectors’ hopes, fears, challenges and opportunities in 2021.
More than half (53%) of in-market car buyers would be inclined to buy a British-built model to avoid price hikes in the event of a no-deal Brexit, according to new research by What Car?.
Hyundai has updated its ‘Strategy 2025’ smart mobility plan with a commitment to commercialise a hydrogen-fuelled vehicle solution.
Used car values declined or remained static as Aston Barclay continued to trade vehicles online throughout November’s COVID-19 ‘Lockdown 2’in England – maintaining 70% of its usual capacity.
The UK Government’s ‘Lockdown 2’ COVID-19 mitigation measures in England contributed to a 22.1% decline in used cars sales during November, according to data from Indicata.
Millennials (24-39 year olds) are expected to lead a car ownership ‘boom’ that will benefit the post-COVID car retail sector, according to the 2020 EY Mobility Consumer Index.
Marshall chief executive Daksh Gupta has told AM that the car retail PLC will be “going for it” in 2021 after upgrading its profit forecast, vowing to repay its deferred VAT payments and forego the CRJS in the new year.
Marshall Motor Holdings has upgraded its profit predictions for 2020 after it “significantly outperformed” the car retail market in October and November.
Online motor retail is dividing into a market of simple and complex transactions in an emerging trend heightened by the COVID-19 pandemic, says iVendi.
Car retailers delivery of a “stunning” used car sales performance recovery from the depths of H1’s COVID-19 lockdown helped to deliver an £53,000 average profit in October, according to ASE.
The Peter Vardy Group has introduced chalets at its Motherwell branch and its Glasgow CarStore to allow customers to discuss their purchase outdoors during the COVID-19 crisis.
Green number plates will be applied to new electric vehicles (EV) sold in the UK from today (December 8) in a bid to drive further uptake of zero emissions transport before 2030.
Board members from the Vehicle Remarketing Authority (VRA) will discuss lessons learnt from 2020 and 2021’s biggest opportunities in the final instalment of a series of webinars.
New and used light commercial vehicle (LCV) sales have proved to be more than resilient to the current COVID-19 coronavirus crisis – they are thriving because of it.
Dealers and their customers have been urged to lobby all their MPs and fight against the UK Government’s desire for an exclusively electric car market from 2035.
New consumer car finance volumes declined 3% in October to leave the sector 20% down year-to-date, according to the latest data from the Finance and Leasing Association (FLA).
