Swansway Motor Group has reported a 42% decline in pre-tax profits in its 2019 annual financial results after completing a restructure in which it “eradicated” its loss-making car dealerships.
COVID-19 and the EU’s new RDE CO2 emission regulations were cited as the “key events” which resulted in a 5.4% decline in revenues in the car retail group’s 2020 annual financial results.
2019 half-year pre-tax profits at Caffyns have plunged 92% from the same period in 2018 as it battled Volkswagen and Audi supply problems and “a difficult economic and political background”.
The average UK car dealer lost £14,000 during August in what has been described as a “significant deterioration” on the break-even result achieved in the same month a year earlier.
There was WLTP in 2018. Now there's RDE, although one in three dealers knows little about the latest development in the new car testing regime, according to a survey by Manheim.
Car dealers concerns about the roll-out of the new RDE2 Real Driving Emissions car testing standards in September are ‘unlikely’ to manifest themselves in a WLTP-like impact on the market, according to Cox Automotive.
The National Franchised Dealers Association (NFDA) has described the Department for Transport’s (DfT) granting of a derogation for non-RDE compliant vehicles as “very positive”.
The Society of Motor Manufacturers and Traders (SMMT) has urged the Chancellor of the Exchequer to “stimulate the market” with his 2018 budget following September’s 16.8% decline in car production.
Used vehicle values are being artificially inflated as competition hots up amongst buyers for nearly new and ex-fleet stock amid WLTP-related new car shortages, according to Shoreham Vehicle Auctions (SVA).
Audi suffered a near-70% decline in registrations in its home market of Germany during September as the effects of the roll-out of the Worldwide Harmonised Light Vehicle Test Procedure was felt.
Volkswagen Group brands accounted for 49% of the UK’s total registrations decline of 20.5% (87,336 vehicles) as the brand’s WLTP-related supply woes were felt by car retailers in September.
September’s 20.5% decline in new car registrations will have a “brutal impact” on some franchised car dealers’ Q3 and full year profitability, according to Coachworks Consulting.
The Society of Motor Manufacturers and Traders (SMMT) has confirmed that supply shortages caused by manufacturers’ WLTP testing backlogs triggered a 20.5% decline in new car registrations in September.
Buoyant car registrations resulting from the September switch-over to WLTP and RDE fuel economy and emissions tests saw car dealers defy the usual August slump with a £200 average profit, ASE has reported.
How has your business been affected by WLTP/RDE 'real-world' emission and fuel economy regulations?
Consumer choice declines and delays increase as new emissions rules plus shift against diesel prompt carmakers to cull model ranges
New and used car markets delivered a sales surge in August as the introduction of WLTP and RDE fuel consumptions an emissions delivered “great value vehicles and finance offers,” enquiryMAX has revealed.
Car dealers reduced their July losses by almost £5,000 year-on-year to “emphasise improvements made over 2017”, ASE’s monthly profitability report has shown.
Car makers are not communicating new CO2 emissions and fuel economy data established under the new WLTP regime to car buyers.
Car manufacturers rush to sell new cars which are not compliant with the new WLTP and RDE fuel economy and emissions legislation has created a “false economy” in which sales rose 23.1% in August.
