Car dealers’ used vehicle stock levels have declined by 30% as post-lockdown demand among buyers leaves businesses “grappling” with the challenge of securing fresh product for their forecourts.
Orders placed for new vehicles grew by 12% in July, while used car demand increased by 16%, according to the latest figures from lead management firm Dealerweb.
A 26% increase in June profits helped the average UK car dealer to claw-back COVID-19 losses which amounted to around £100,000, according to ASE’s latest market insight.
More than a quarter of PCP buyers are concerned about meeting future monthly payments on their next vehicle due to the impact of COVID-19, according to What Car?.
Car retailers’ efforts to embrace the demand pent-up among new car buyers during COVID-19 lockdown has resulted in an 11.3% rise in July’s new car registrations.
A survey of over 1,000 consumers who purchased a car through carwow since the UK's first dealership reopenings has confirmed a shift towards digital car retailing across Europe.
Stoneacre Motor Group has continued to drive past its former £1 billion turnover growth target with the acquisition of the Hodgson Newcastle Ltd car dealership group.
The AA has become a potential takeover target as it looks to raise funds to re-balance its books in light of a £2.65 billion debt.
Many will still need time to fully consider the content of the Financial Conduct Authority’s (FCA) final ruling from its motor review and the impending ban on discretionary commission models, published earlier this week.
Used car prices showed their largest monthly price rise for two years on Auto Trader during July, with values rising 4.6% amid signs that consumer demand is continuing to grow.
Pendragon has opened the doors of its new Porsche Centre in Stockport as Porsche Retail prepares to move into its new Mayfair showroom in central London.
Hepworth Motor Group has closed its Halifax Mitsubishi Motors in the UK franchised car dealership due to the impact of Brexit and COVID-19 pandemic – with the loss of 10 jobs.
The number of car buyers visiting dealerships that are less than five miles from their home has risen by 65% since the Coronavirus pandemic lockdown started.
Mercedes-Benz Financial Services (MBFS) has become the first car manufacturer finance house to be approved as a fully-accredited Coronavirus Large Business Interruption Loan Scheme (CLBILS) lender.
After recent dire results for Mitsubishi - notably a £1.3bn loss for the last quarter - the firm has decided to focus on faster growing, more profitable markets.
Over 2.6 million vehicles were MOT tested in June as motorists continued to ensure their vehicles were roadworthy, despite the Government’s six-month testing holiday.
Sales of Jaguar Land Rover’s (JLR) long-awaited new version of its rugged Defender 90 4x4 have been delayed until September as a result of the COVID-19 pandemic.
Cambria Automobiles chief executive Mark Lavery has urged his car retail colleagues to lobby Government over an all-out push to Electric Vehicles (EV) which risks catching UK automotive “sleeping at the wheel”.
Environmental concerns are playing a bigger part than ever before in new car buying decisions, with 49% of buyers saying they will consider a hybrid and 33% looking for an electric model.
Emerging premium car brand Polestar has delivered the first European Polestar 2 electric vehicle (EV) to a customer at its headquarters in Gothenburg, Sweden.
