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.
Ford retailers who are unable to find £750,000-per-dealership site to fund a post-Brexit change to the brand’s VAT invoicing regime could be forced out of business, it has been claimed.
Mercedes-Benz is expanding its range of EQ electric models with six new additions, the first of which are expected to arrive in dealerships next year.
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.
