Cazoo has removed 15 of its 22 used car handover centres from its website after staff were informed that a series of planned closures would be going ahead.
Genesis has begun conversations with potential car retail partners across the UK ahead of a growth push to establish a physical footprint of up to 20 dealerships.
Mercedes-Benz UK’s first month on the new direct to consumer distribution model, and agency contracts, highlights the need for ‘agile’ vehicle pricing, despite fixed price promises
Growing demand for online car buying is boosting revenues for Drivvn, which plans to achieve car sales worth £1 billlon this year.
Mercedes-Benz UK chief executive Gary Savage has said he finds the roll-out of the brand’s direct-to-consumer agency model car retail strategy “hugely exciting” – despite agents' two-tier car retail sector concerns.
Cazoo has completed a ‘reverse stock split’ process to merge its share capital in bid to boost trading values on the New York Stock Exchange (NYSE).
Vauxhall has introduced a new two-year 0% PCP offer available across its entire passenger car range, including electrified models.
Motorway has asserted that it has “significant funding reserves” to drive further growth after more than doubling its used car sales revenues to £1.7 billion in 2022.
Volvo Car UK chief executive Kristian Elvefors has informed the Swedish carmaker’s dealers of a three-month postponement to its planned roll-out of agency model new car retail.
The average price of a used car advertised for sale on Auto Traders has reached a new record high after car retailers started the new year with “real momentum”, it has been claimed.
Genesis has announced it will open a new studio in Edinburgh, Scotland, highlighting the company’s continued expansion since its arrival in 2021.
Cazoo plans to close sites and axe jobs in the UK as part of a ‘Revised 2023 plan’ following its 2022 exit from used car markets on the European mainland.
Waylands Automotive is poised to join the retail network of performance electric vehicle (EV) brand Polestar with the opening of a new store in Bristol.
The New York Stock Exchange (NYSE) has begun the process of de-listing warrants for online car retailer Cazoo as a result of “abnormally low” price levels.
Stellantis has launched the Fiat Metaverse Store in a bid to recreate a car showroom experience via an “immersive” online car buying experience.
Armed forces and public sector workers will benefit from a £500 contribution to their next used car as part of a limited-time offer from heycar.
Half of consumers (52%) who bought a car using PCP are expected to refinance them, rather than trade in for a new car at the end of the contract, according to research by NTT Data UK&I.
The growth in the number of drivers considering buying a BEV (Battery Electric Vehicle) as their next car has slowed, according to a new study.
Motorists’ continued appetite for car buying has delivered another 5.1% increase in the value of the average used vehicle advertised for sale on Auto Trader.
Almost 40% of Gen Z car buyers would prefer to transact online, according to new research.
Used car values rose by an average of 2% on eBay Motors Group’s online marketplace as the market’s balance of consumer demand and limited supply continued to defy the UK’s economic gloom.
The Stellantis-owned used car retail business Aramis Group has acquired Cazoo’s Italian operations as the online retailer continues its withdrawal from Europe to focus on cost savings and the UK market.
Mercedes-Benz customers have been advised to buy their next car online or travel up to 110 miles to another dealership after Marshall Motor Group revealed it will stop selling cars at its South Lakes franchise.
Cazoo, the online motor retailer, has reported UK revenues of £347m from Q3 trading, which is a 103% increase versus Q3 2021.
Auto Trader has sold off its Webzone subsidiary, which trades as Carzone in the Republic of Ireland, for 30m euros (approx. £26m).
