The PSA Group is in talks with the UK Government about the possibility of car scrappage scheme incentives to boost the automotive retail sector in the wake of the COVID-19 coronavirus crisis.
Growing volumes of COVID-19 coronavirus lockdown used car sales have prompted Cap HPI to admit that the time is right for recommence valuation changes – and initial sales suggest a 2% to 5% decline.
The NFDA has teamed-up with the SMMT to produce a car sales best practice guide drawing on the latest advice on COVID-19 coronavirus lockdown retail operations from Government and BEIS.
Six-in-10 car retailers believe that prolonged grants and support from Government are required to support the automotive retail sector through the COVID-19 coronavirus crisis as redundancies begin.
AM magazine has claimed the Automotive Business Publication of the Year title as the Newspress Awards 2020.
Car retailers have been categorised among a Government-issued list of retail providers who can provide a click and collect sales process during the COVID-19 coronavirus lockdown.
Aging stock has been cited as the “main driver” of £1.6 billion losses incurred by Europe’s used car retail sector between the start of the COVID-19 coronavrius lockdown and mid-April.
Redundancies are being imposed across Arlington Automotive Group after the Jaguar Land Rover (JLR), Ford and Nissan automotive tier one parts supplier entered administration this week.
The Chancellor of the Exchequer, Rishi Sunak, has confirmed that the Government Coronavirus Job Retention Scheme (CJRS) will be extended to October – at its current 80% rate of salary support.
The UK's used car market contracted by 8.3% in the first quarter of 2020 following a COVID-19 coronavirus lockdown-prompted 30.7% decline in March sales, SMMT data has revealed.
Generous car retail businesses who promised to exceed the 80% salary funding cap of the Government’s Coronavirus Job Retention Scheme (CJRS) will face an increased financial burden if support is cut to 60%.
Car showrooms are likely to join “non-essential” retail businesses in re-opening on June 1 if infection rates remain under control, Government’s 50-page ‘COVID-19 Recovery Strategy’ document indicates.
Automotive aftersales operations have suffered a loss equivalent to 5.8% of their expected annual turnover in the COVID-19 coronavirus lockdown period to May 3, GiPA UK research has revealed.
The initial impact of the COVID-19 coronavirus pandemic resulted in a 43% decline in profitability for UK car retailers during the key March number plate change month, ASE data has revealed.
Vertu Motors’ director have asserted that the group has sufficient liquidity to exit the COVID-19 coronavirus lockdown and “capitalise on trading opportunities” in an interim trading statement.
The Finance and Leasing Association’s (FLA) has renewed its appeal for help from Government and the Bank of England as coronavirus impact sparks 1.2 million finance forbearance claims.
Cambria Automobiles chief executive Mark Lavery has conceded that “over 100 redundancies” are possible within his car retail group when the Government's coronavirus job retention scheme’s (CJRS) furlough period ends.
Cox Automotive has predicted a stop/start recovery from the COVID-19 coronavirus outbreak for the automotive retail sector – revising its new car sales forecast to detail a 29% decline in 2020.
Car retailers would benefit from more flexibility from Government’s coronavirus job retention scheme (CRJS) as the financial balance of returning furloughed staff to work becomes businesses' "biggest challenge".
Four industry associations representing Europe’s automotive sector have joined forces to call for car scrappage schemes as part of a 25-point COVID-19 coronavirus recovery plan.
