With Stellantis and Mercedes-Benz starting EV charging firms, and Arnold Clark buying a charger installer, experts can't agree whether it's a good, profitable step for the automotive industry's establishment.
Automotive software company Wayroo has welcomed ex-ASE chairman Mike Jones to its board, as a non-executive advisor.
Auto Trader's data scientists have noted the largest monthly growth in used car prices since January 2019 during June as motor retailers in England reopened their showrooms.
Dealers will need cashflow to bridge the gap until the Government’s business and employee support funds drop in, however they must resist a fire sale of stock, ASE Global’s chairman Mike Jones has warned.
Dealers have started 2019 with a rise in profits, according to data collected by ASE.
Franchised dealer profits in October were up by £7,500 in October year-on-year, after a £1,500 loss in October 2017, said ASE Global.
UK dealers saw profitability increase by 74% during Q2 this year, despite a slight slip in June’s performance, according to the latest figures from ASE.
By understating its performance, there is a real danger that the motor retail industry will sow the seeds of its own demise.
Franchised dealers have continued to take a hit to their profits. Data from ASE Global shows in August the average dealership lost almost £17,000.
The average UK franchised dealer made a loss of £6,500 in July 2016, a drop of £10,000 on the performance from the prior year, when July was a profitable month.
The average UK motor retailer produced a profit of just over £42,000 in June, exactly matching the result for the same month in 2015.
The average UK motor dealer made a loss of just over £13,400 in February, matching the 2015 result.
Franchised dealers worked harder for smaller returns in 2015.
The new car market looks set to hit a record level in 2015 but dealer profitability certainly doesn’t, warns ASE Global chairman Mike Jones.
The average UK motor retailer made an average of £73,200 during the plate change month of September, according to the latest ASE figures.
Franchised dealers made an average loss of £16,000 in August, typical of the month before the plate change in September.
For the first time in 2015 UK car dealers have show a year-on-year improvement in financial performance.
The average UK motor dealership produced a small loss of £384 in May, a contrast to the £5,000 profit made in the same month of the prior year.
The average UK motor dealership produced recorded a profit of just under £93,000 in March.
The average UK motor dealer made a loss of £13,500 in February, a slight increase in the loss made in February 2014.
