HMRC has is introducing a new VAT return scheme for dealers that buy cars in Great Britain and plan to resell them in Northern Ireland or the EU.
Dealers and remarketing firms need to increase their investment in vehicle reconditioning to ensure older vehicles meet the expected retail standard.
Motorpoint chief executive Mark Carpenter has insisted the car supermarket group will succeed in its goal of becoming a “highly profitable market leader” despite faltering finance commissions and used vehicle margins.
The prospects of UK car manufacturing sector’s future has been labelled “precarious” as pressure mounts to accelerate investment in zero-emissions electric vehicle (EV) production following 2022’s 9.8% sector decline.
Onto has raised a new credit funding line of £100m from global investment group CDPQ and independent asset manager Pollen Street.
Lithia Motors’ Jardine Motor Group takeover talks have highlighted the undervaluation of UK car retail businesses, analysts have claimed.
Stellantis UK managing director Paul Willcox has insisted that there will be no more cuts to the carmaker’s UK retail network, despite revealing a ‘theoretical’ 40-partner plan for the longer term.
Volkswagen Group UK is part of a vehicle-to-everything (V2X) bidirectional charging trial aiming to boost the affordability of electric vehicles (EV).
The average price of a used car advertised for sale on Auto Traders has reached a new record high after car retailers started the new year with “real momentum”, it has been claimed.
Bank of England governor Andrew Bailey has said the UK is likely to experience “weak activity over quite a prolonged period” despite optimism prompted by falling inflation and lower energy prices.
Wholesale prices for used electric vehicles (EVs) fell by almost £5,000 during Q4, according to Aston Barclay.
Cap HPI has warned that further ‘significant reductions’ in used electric vehicle (EV) prices are expected after Tesla’s Model 3 lost a quarter of its value in less than four months.
The UK Government believes smart charging could save high-mileage electric vehicle (EV) drivers up to £1,000 per year as part of a new Electric Vehicle Smart Charging Action Plan.
Record trading between Christmas and the start of the new year demonstrated that car retailers were keen to get a “good head start” for strong January trading, according to BCA.
Land Rover has dominated Dealer Auction’s 2023 used car margin rankings, accounting for 40% of the top 10 models offering the strong profit opportunities to retailers.
A third of car dealers predict that used car values will slump by around 10% as the cost-of-living crisis impacts consumer confidence to deliver ‘more difficult’ trading conditions in 2023.
Automotive is entering a period of opportunity with 2023’s “significant change and shortening lead times” paving the way to new horizons, according to Cox Automotive.
Stock starved car retailers are avoiding used electric vehicles (EV) as zero-emission vehicles continue to decline four times faster than their diesel-powered equivalents.
A Net Zero Review delivered on behalf of the Department for Business, Energy & Industrial Strategy (BEIS) has recommended the swift delivery of an electric vehicle (EV) mandate and VAT cuts to make public charging more affordable.
The motor finance sector is expected to record a 6% rise in value despite supply shortages which “continued to weigh on its recovery” during Q4, the Finance and Leasing Association (FLA) has said.
