Pendragon has announced plans to close 22 of its Car Store used car supermarkets and one vehicle preparation centre after detailing a £32.2m underlying pre-tax loss in its H1 2019 financial results.
Fluctuations in the value of used cars and the wider adoption of ever-faster remarketing platforms have driven the used car market to become more “complex and volatile” in 2019, Cap HPI has reported.
The Finance and Leasing Association (FLA) has reported that new business in the point of sale (POS) consumer car finance sector rose 5% by volume during July.
Franchised car retailers are offering discounts of up to 40% of a vehicle’s original list price in an efforts to offload their pre-registered 19-plate stock during the September ‘plate change month.
Car retailers saw their used car stock turn speed up as an influx of pre-registered cars onto their forecourts led to the swift sale of nearly new vehicles, according to Indicata.
August delivered evidence of significant pre-registration driven by the requirement for market share and the need to register WLTP cars in the face of the arrival of RDE2 legislation.
Available Car has promoted Steve Alcock to the post of chief operating officer after 17 years with the independent used car supermarket operator.
More than half of used car retailers reported that they had achieved the same or improved margins during August, according to a Cox Automotive Dealer Sentiment Survey.
Physical car auctions in the UK have remained fundamentally unchanged for decades.
Big Motoring World has opened a new £14m vehicle preparation centre in Peterborough as part of a bid to drive further growth following the sale of 22,000 used cars in 2018.
The Trade Centre Group will expand into the North with the opening of a sixth car supermarket site in Rochdale before the end of the year.
Blurred lines between dealers, leasing and rental firms, and used car reviewers and classified sites, means retailing used cars online will change rapidly, says Andy Carroll
Consumers looking to buy a 69-plate electric vehicle (EV) in September could be scuppered by a shortage of vehicles entering the market – leading to greater demand for used EVs.
Skoda dealers now have access to a new remarketing platform which the brand hopes will enable them to dispose of their unwanted trade-ins or overage stock more effectively.
The point of sale (POS) car finance market posted year-on-year declines of 3% by volume and 2% by value across both new and used car sectors during June, according to the Finance and Leasing Association (FLA).
Used car sales slowed in the UK’s car supermarkets as franchised retailers' growing stock levels sped-up their stock turn during July, according to the latest data from Motors.co.uk.
Manheim has launched a QuickList Imagery used car imaging offer in a bid to help speed-up retailers’ online marketing efforts.
Close Brothers Motor Finance’s director of sales Sean Kemple has compiled his top five tips for car dealers looking to embark on a search for hybrid, plug-in hybrid and electric vehicle (EV) forecourt stock.
Cazoo has followed its recent pre-launch recruitment drive with a move to secure tenancy in a new 17,500 square foot head office in Euston, London.
The Mercedes-Benz A Class hatchback disrupted the recent dominance of SUVs in Indicata’s monthly fastest-selling cars rankings during July.
