Red Rose Mitsubishi has added a SsangYong Motors UK car retail franchise to its dealership site in north Birmingham.
Vertu Motors’ COVID-19 recovery accelerated the AM100 PLC to a £19 million profit in Q2 to reverse a £14.3m Q1 loss and deliver a profit in a challenging period for automotive retail.
New registrations in the light commercial vehicle (LCV) sector remain 27.4% down year-to-date despite a growth of 26.4% in September, the SMMT has reported.
The average UK car retailer delivered a £28,000 year-on-year swing to profitability in August to ensure “a profitable 2020 seems very much in reach for the average retailer”, according to ASE.
Used car retailers saw their stock turn accelerate by 10 days in September as average advertised prices rose by 1.8%, eBay Motors has reported.
Car retailers have been urged not to not put their preparations to comply with the Financial Conduct Authority’s (FCA) Senior Manager Certification Regime (SM&CR) “on the back burner” as a result of the recent deadline extension.
The UK’s new car sales volumes slumped to their lowest September number plate change month this century as the automotive COVID-19 recovery stalled to a 4.4% year-on-year decline.
Vertu Motors has completed the acquisition of Sandicliffe Motor Group’s Kia dealership in Nottingham.
Average retail used car prices on Auto Trader recorded the largest ever monthly price increase in September - increasing by 7.6% to £13,829.
Lynk & Co chief executive Alain Visser has said that the UK will become the mobility brand’s second-biggest European market after Germany when it launches in 2022 – with Volvo retailers benefiting from aftersales trade.
Volvo Car UK retailers were among high-performing UK car dealers celebrating their “best September ever” after overcoming the challenges of the COVID-19 pandemic to recover with record sales.
Listers Group has revealed a 41.3% decline in profit before tax as turnover declined by 1.9% in its annual financial results report for 2019.
Evidence of a thorough car sanitisation process continues to deliver a key confidence boost for car buyers in the COVID-19 crisis, according to a survey by eBay Motors.
Online car retailer Cazoo has attracted a new group of investors in a new funding round which has taken its overall financial backing to a record £450 million.
Lynk & Co has launched its new 01 hybrid SUV in Europe as part of a €500-a-month car mobility “membership” service… But it won’t be coming to the UK in 2020.
The National Franchised Dealers Association (NFDA) has welcomed a “Skills Speech” by Prime Minister Boris Johnson, expressing hope that it may indicate a move towards jobs generating reforms.
Online used car retailer Cazoo has opened its fifth Customer Centre in a former Imperial Cars car supermarket site in Birmingham.
Research by eBay Motors Group has showed that 56% of car buyers “definitely” want to visit a dealership as part of their next car purchase, with 24% saying they would “probably” visit.
Car retailers could avoid COVID-19 insolvency and help retain automotive sector jobs after being offered support from the Society of Motor Manufacturer and Traders’ (SMMT) Safe Harbour scheme.
The financial blow dealt by COVID-19 coronavirus lockdown contributed to a £31 million underlying loss before tax at Pendragon, the AM100 group has reported in interim results published today.
