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.
Car buyers face higher running costs following the introduction of new WLTP CO2 emissions test figures from today (April 1).
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 consumer car finance market achieved year-on-year growth of just 4% by volume and 7% by value during September – despite last year’s WLTP-impacted decline.
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.
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.
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.
Concerns around supply shortages of new vehicles after August 31 due to vehicle testing rules may be unwarranted, according to Cap HPI.
The September roll-out of the new RDE2 vehicle emissions standards is causing a re-emergence of new car pre-registrations, the Vehicle Remarketing Association (VRA) heard at its July members meeting.
Company car drivers choosing a pure electric vehicle (EV) will pay no benefit-in-kind (BIK) tax in 2020/21 following a Government review which looks set to boost sales of emissions-free cars.
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 automotive industry could be facing a new 'petrolgate' emissions scandal as Emissions Analytics uncovers discrepancies in new petrol car CO2 figures.
Caffyns has blamed a 3.1% decline in turnover in its 2018 financial results on WLTP’s impact on the supply of vehicles from certain car manufacturer brands - with Audi “significantly constrained” by the new regime.
JCT600 is celebrating a record set of annual financial results for 2018 after the car retail group’s turnover rose 2% to £1.28 billion and profits held flat in what was described as a “challenging year”.
Fiat Professional’s head of sales Richard Chamberlain has said that the brand is “well-placed” to grow its UK sales volumes in 2019 despite the anticipated impact of WLTP on the LCV sector.
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.
The Vehicle Remarketing Association (VRA) has added its support to the British Vehicle Rental and Leasing Association’s (BVRLA) response to the current Government’s WLTP consultation.
Aston Barclay Insights report has revealed that average prices of diesel and petrol vehicles in the used car market rose to a record high in Q4 2018.
The National Franchised Dealers Association (NFDA) and Low Carbon Vehicle Partnership (LowCVP) have published new guidance to “help UK motorists choose their ideal car” following the introduction of new emissions test legislation.
