Declining new car sales in 2020 are set to deliver a £300 million aftersales revenue decline for franchised car retailers over the next 12 months, according to BookMyGarage.
The perfect storm of challenges affecting the automotive industry continues unabated, with the pandemic, Brexit and supply issues all impacting consumer confidence and demand for new vehicles.
The UK Government’s COVID-19 ‘Lockdown 2’ took a £1.3 billion toll on car sales during November as registrations declined 27.4%, according to the Society of Motor Manufacturers and Traders (SMMT).
Car retailers across the UK suffered their first new and used car order decline since June during a COVID-19 ‘Lockdown 2’ impacted November, according to Dealerweb.
A survey of over 2,100 in-market car buyers conducted by What Car? heard that 66% felt their purchasing decision had been completely unaffected by the impact of the COVID-19 coronavirus crisis.
A Brexit briefing is to be provided by the Vehicle Remarketing Association (VRA) in its penultimate 2021 Outlook Seminar.
Former Imperial Cars operations director Neil Smith has revealed that he intends to remain in the automotive retail sector after leaving his role as retail operations director at Cazoo.
Johnsons Cars will continue to target growth through acquisitions after posting an 86.3% pre-tax profits decline in its annual financial results for 2019.
A HR-themed survey of the UK’s franchised car retailers found that 59% intend to recruit in their sales departments and 63% plan to appoint new technicians over the next three months.
New data shows some British adults find buying a car more stressful than starting a new job, taking an exam, or managing deadlines at work.
UK car manufacturing output fell by 18.2% in October with 110,179 units leaving factory gates, according to latest figures by the Society of Motor Manufacturers and Traders (SMMT).
The average price of a used Land Rover has increased by 2% in the last month, with values up 4% year on year according to new data from Motorway.
Car retailers have just over a week to prepare for showroom reopening after Prime Minister Boris Johnson announced a December 2 end to ‘Lockdown 2’ – and the return to a three-tier system.
Today, Capgemini have published a report advocating the transition to an agency model for distribution networks, supported by consumer and dealer surveys in Europe and China.
The adoption of an agency model for the car retail sector is now “not an option but an obligation”, according to a report published by Capgemini today.
Business leaders from AM100 franchised car retailers Sytner, Lookers, TrustFord have joined the NFDA in lobbying Northern Ireland MPs on a Brexit tax issue which could result in a 20% price hike for used cars.
The Cox Automotive Insight Report 2020 has urged car retailers to respond rapidly and plan for the ‘short-term’ in a bid to achieve success amid the current trading climates various headwinds.
Peugeot has increased its deposit contributions by £950 as part of an “Exclusively for You” offer giving motorists up to £8,100 off until the end of 2020.
Some vehicle manufacturers may delay new car price increases as a result of a no deal Brexit until March 2021, according to Automotive Services International (ASI).
Car retailers will be able to continue trading after Scottish First Minister Nicola Sturgeon moved into Level 4 COVID-19 lockdown – implementing the nation’s most stringent mitigation measures.
