A “lingering supply chain crunch” has been blamed for a used car sector that remained 12.2% down by volume on pre-COVID 2019 in Q1, 2022.
Arnold Clark chief executive Eddie Hawthorne has reported an “excellent” 2021 financial performance with revenues up 25% as pre-tax profits rose 68%.
Dealers are being warned to stop using misleading terms in their adverts, by the Financial Conduct Authority (FCA).
Two-thirds of motorists want to buy an electric vehicle (EV), with the majority seeking lower fuel bills.
Volkswagen Group’s race with Tesla to become the world’s leading electric vehicle (EV) producer by 2025 will be ‘tight’, chief executive Herbert Deiss has conceded.
SsangYong Motors UK has added Cawdor Cars to its growing portfolio of franchised car retailers, introducing a new dealership in Llanybydder, Carmarthenshire.
The car retail sector should be braced for a prolonged period of uncertainty as OEMs impacted by Russia’s war in Ukraine battle to deliver vehicle supplies and consumers “grapple with a cost-of-living crisis”.
Used car marketing provider eBay Motors Group has said that a downward pricing adjustment was “inevitable” in the sector after seeing values decline by 1.5% month-on-month in April.
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iVendi has outlined a five point plan to help dealer maximise their online presence as the used car market begins to lose growth momentum.
