Competition for used car stock continued to grow as used car retail values rose 21.4% in September to reach a new record high after 18 consecutive months of appreciation.
Lookers has raised its 2021 profit expectations after it weathered Q3’s vehicle supply shortages to deliver “excellent new and used vehicle margins”.
Marshall Motor Group has increased its 2021 profit expectations by a further 25% after outperforming the wider car retail sector in Q3.
Peter Vardy Group delivered a 47.8% increase in profit before tax in a COVID-19 impacted 2020, despite a group-wide focus on “giving back” during the financial period.
Franchised car dealers across the UK experienced the lowest new car registrations total since 1998 in a “desperately disappointing September” number plate change month, the SMMT has confirmed.
Steps for successful trading in Q4 and insights into Q3's sales tactics will be discussed at the quarterly AM Motor Retail Review webinar this Wednesday, October 6.
Big Motoring World has kick-started an growth plans with the acquisition of Peterborough-based used car supermarket group SW Car Supermarket.
Fast-growing MG Motor UK has promoted national fleet sales manager Geraint Isaac to the newly-created role of head of fleet as it looks to “really grow its presence in the fleet market”.
SsangYong Motors has added Holt SsangYong to its franchised car retail network, opening its doors to customers this month.
Car retailers across the UK are recruiting staff after surviving the the COVID-19 lockdown of dealerships thanks to assistance from the Government’s Coronavirus Job Retention Scheme (CJRS).
Sytner Group has revealed a 39.8% rise in pre-tax profits despite COVID-19 enforced showroom closures during its 2020 financial year.
The UK’s car manufacturing sector suffered a 27% year-on-year decline in vehicle production during August as the impact of the global semiconductor microchip shortage began to bite.
Dealers that sell cars from prestige brands are more likely to get referrals from car maker websites, according to JudgeService.
Three quarters of car buyers say they are planning to purchase their next vehicle from a local dealer, according to a What Car? study.
Record used car value increases in September have been hailed as a “black swan event” by Cap HPI, with head of valuations Derren Martin describing the seventh consecutive month of rising prices as “extraordinary”.
Cambria Automobiles will officially relinquish its PLC status as of October 13 after chief executive Mark Lavery successfully completed his takeover bid this week.
The UK’s weekend fuel frenzy sparked a 61% rise in car buying interest in electric vehicles (EV) on Auto Trader and a 59% spike on carwow.
Polestar will embark on a £14.6 billion public listing as part of a strategy to fund “significant investment in products and the expansion of operations and markets”, it has revealed.
Almost 20% of British motorists say they are more likely to buy an electric vehicle (EV) following this weekend’s ‘fuel crisis’.
Electric vehicle (EV) sales outnumbered those of diesel cars across Europe as registrations declined by a further 18% year-on-year, Jato Dynamics has reported.
