Manufacturers are repatriating increasing numbers of ex-lease vehicles back into their franchise dealer network as demand for quality used stock increases, reports epyx.
Online searches for diesel vehicles on Auto Trader declined to just 42% in February following a “precipitous” decline in popularity for the fuel type over the past two years.
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.
Cazana has closed its latest round of crowdfunding at £1.56 million, nearly 160% of its original investment target to embark on global expansion plans.
An Independent premium car dealer who took cash and part-exchange vehicles from customers before failing to deliver on deals has been jailed for seven years.
Renault's Kadjar SUV was February’s fastest selling used car on Auto Trader – capturing car buyers’ attention in an average of just 17 days.
February has not served to install car retailers’ used vehicle operations as “the shining star” in their business in recent months and news of HMRC VAT reforms will only make life tougher, according to Cazana.
Swansway Motor Group is set to invest £3.25 million to expand its Motor Match used car operations into Bolton and Stockport.
The HMRC has announced a policy change in the VAT treatment of PCP vehicle sales which is likely to have a major impact on the future of the car retail market.
Manheim has renewed its partnership with Hendy Group, marking the renewal of a 17-year partnership.
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.
Inchcape’s growing profitability from global vehicle distribution were offset by a challenging retail sector during 2018 – with revenues up 3.6% but underlying profit before tax down by 6.5%.
Used car values declined during February for the first time since 2008 as car retailers begun to show signs of "reluctance" to squeeze their profit margins any further, according to Cap HPI.
Shoreham Vehicle Auctions (SVA) has revealed that demand for used electric cars and vans (EVs) at auction has increased significantly.
The Mercedes-Benz GLC-Class appeared to flood the UK used car sector in January as Auto Trader revealed that the premium SUV had been its fastest selling used car during the first month of 2019.
Risk management specialist Assurant expects to add 200 new members to the RAC Dealer Network in 2019, reaching a total of 1,550.
Auctions halls around the UK were heaving in 2018 as many dealers turned to the used sector to bolster profits. The result was the unusual phenomenon of high used volumes and record prices.
BCA is reporting strong demand for luxury, prestige and supercar vehicles early in the year following a special Top Car sale
BCA’s monthly Pulse Report has revealed that used car volumes rose ‘significantly’ in January as average values returned to more typical levels following the seasonally affected values recorded during December.
Auto Trader’s Retail Price Index has shown that diesel was “constantly the fastest selling fuel type” for used cars in 2018, as diesel values remain resilient.
