Lookers has reported that trading in Q3 resulted in underlying PBT “significantly ahead of last year” to largely offset losses recorded in a COVID-19 impacted first half of 2020.
Dealer groups and the valeting industry could face staff shortages next year as UK employers will not be able to hire non-UK residents for certain key roles.
The FCA is replacing its Gabriel regulatory reporting system with RegData starting from October 17 and 18.
Aston Barclay has reported that the “unstoppable” strength of the used car market might be about to soften after increased post-September supplies start to reach remarketing centres.
A finance company demanded £2.3 million in compensation from a used car dealer who breached the terms of numerous motor finance loans through a series of “illegitimate side agreements”.
Sytner Group has reported a 1% decline in revenues and 36.6% decline in pre-tax profits in its 2019 annual financial results.
Forthcoming Financial Conduct Authority (FCA) changes to the motor finance sector should be embraced as a “promotional and profit opportunity” by used car dealers.
Paying up front for a new vehicle has continued to slow down as an increasing number of consumers demand increased flexibility, according to research from Close Brothers Motor Finance.
The success of China’s relentless development of new electric vehicles (EV) and charge point infrastructure has put it well ahead of the pack in the global race towards electrification, Jato Dynamics reports.
The Department for Business, Energy and Industrial Strategy (BEIS) will aim to help automotive and retail businesses to prepare for Brexit as part of a series of webinars taking place this month.
Cambria Automobiles were given an opportunity to discuss the challenges facing the automotive retail sector with the Secretary of State for Transport, the Rt Hon Grant Shapps, during a recent showroom visit.
BCA’s average used car sale value at auction remained above £8,000 for a fourth consecutive month after values rose by 6.9% during strong September trading.
Marshall Motor Holdings has reforecast its 2020 performance expectations after a “stunning” September of new and used cars sales – targeting a £15m underlying profit before tax.
Car retailers risk returning to an aftersales famine after the “feast” experienced after the COVID-19 lockdown and the race to catch-up with a backlog of postponed MOTs.
Car manufacturers and their retail partners should use COVID-19 as a catalyst to a new model for automotive retail, according to a new report by McKinsey Automotive.
Suggestions that Ford car retailers could go out of business as the result of a Brexit-related change to the brand’s VAT invoicing have been branded as “scaremongering”.
The UK’s consumer car finance market grew 1% by volume and 8% by value during August, according to new data from the Finance and Leasing Association (FLA).
Eastern Western Motor Company parent company Easter Holdings has reported a 10.1% increase in turnover and pre-tax profits up 15.1% in the car retail group’s 2019 annual financial results.
Sales of used sports cars have risen by 82% between June and august, when compared to the same period last year.
Some UK based car manufacturers – especially Japanese ones - could end up facing export tariffs with or without a Brexit free trade deal with the European Union (EU).
