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).
Car buying consumers are largely unaware of the green numberplates and Government's plug-in car grant (PiCG) in-place to boost the take-up of electric vehicles (EV) across the UK.
Demand for used diesel cars has driven average values up by 11.3% to the end of Q3 2020, outstripping increases among any other fuel type, according to Autrola market data.
TrustFord preparing for new store concept and aftersales openings after celebrating “stunning performance” to carry momentum from its COVID-19 comeback in Q3.
Motorpoint chief executive Mark Carpenter has said that the car supermarket group’s board “continues to look to the future with confidence” after a June return to profitability.
