Lookers recorded a 9% decline in pre-tax profits despite growth in aftersales and used cars as WLTP impacted new car supplies and economic uncertainty impacted consumer confidence in 2018.
February’s new car sales finished 1.4% up year-on-year at 81,969 registrations, as private and business purchases increased, SMMT data shows.
Vertu Motors chief executive Robert Forrester has said that the group is “well positioned to take full advantage of tougher markets” in a trading update for the AM100 car retail group.
Europe experienced its fifth consecutive month of new car sales decline during January, but still managed to register the month’s highest volumes for a decade.
New car registrations declined by 1.6% despite a 2.9% increase in the number of private buyers starting 2019 with the purchase of a new vehicle.
The UK market suffered Europe’s largest decline in registrations during a year in which the region delivered its highest new car registrations total since 2007.
The D segment – down 26% – neared MPV levels of unviability in the UK in 2018, as Nissan leads the biggest volume fallers
Volvo Cars achieved record global sales success in 2018, with over 600,000 vehicles sold for the first time in its history.
Cambria Automobiles has reported that increased profit per unit generated by its luxury franchise portfolio helped to mitigate the effects of a 24.9% slump in new car sales during the three months to the end of November.
November’s new car registration figures may be an indicator that the market is started to “rebalance itself” but market forces continue to favour used car retail, according to Cazana.
New car registrations declined 3% in November as the effects of the WLTP emissions test regime and falling consumer confidence conspired to affect supply, according to the SMMT.
A combination of collapsing new car registrations and WLTP’s effects on fleets and leasing companies is hitting used car supply and driving record wholesale prices
The European car market continued to decline in October 2018, as 1.12 million vehicles were registered during the month, down 7.1% on the same time last year.
Auto Trader is offering car dealers the chance to advertise their entire stock of brand-new unregistered cars online for free until early 2019 as part of its launch a new service.
Lookers has reported growth in its used car and aftersales operations as new car volumes and turnover declined in-line with the market during the period to September 30.
The September 1 introduction of Worldwide Harmonised Light Vehicle Test Procedure (WLTP) has been blamed for a 20% slump in car dealership profits during the key ‘plate-change month.
The Society of Motor Manufacturers and Traders (SMMT) has called for a Government re-think of its policies to encourage the sales of low-emission vehicles after hybrids bucked October’s new car registrations decline.
PSA Group overtook the Volkswagen Group as Europe’s best-selling car brand as the effects of WLTP’s implementation resulted in the region’s biggest monthly registrations decline in a decade during September.
Vantage Motor Group has reported a return to profitability in its annual financial results following the sale of ‘unprofitable businesses’.
A ‘no deal’ Brexit will see car registrations volumes slip back top levels last seen in the 2009 recession, algorithms created by Frost & Sullivan have determined.
