Arnold Clark chief executive Eddie Hawthorne has reported an “excellent” 2021 financial performance with revenues up 25% as pre-tax profits rose 68%.
Two-thirds of motorists want to buy an electric vehicle (EV), with the majority seeking lower fuel bills.
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.
iVendi has outlined a five point plan to help dealer maximise their online presence as the used car market begins to lose growth momentum.
Cazoo has said that it cannot guarantee it will “achieve profit at all” in a newly-published document detailing the potential risks and pitfalls of its online car retail and vehicle subcription model.
The Society of Motor Manufacturers and Traders (SMMT) has urged fleet operators to place their commercial vehicle (CV) orders after the sector suffered a 29.1% April registrations decline.
The global shortage of new commercial vehicles has increased revenues for workshops as owners and operators spend more to keep their older vehicles on the road.
New car sales were down 15.8% in April 2022 versus April 2021, to 119,167 registrations. The SMMT data shows a -33.3% decrease in large fleet registrations.
Car retailers should grow aftersales revenues from increased hybrid car business to soften the financial impact of the UK automotive sector’s shift to electric vehicles (EV).
Stellantis has agreed a deal to acquire the Share Now car sharing mobility provider formed through a joint venture involving BMW and Mercedes-Benz.
Group 1 Automotive has revealed record turnover and profits in an ‘outstanding’ Q1 for its car retail operations in the US and UK.
The National Franchised Dealers Association (NFDA) has assured its members that it is continuing to scrutinise several “issues and ramifications” linked to car manufacturers’ implementation of agency model car retail.
Sytner Group and Car Shop owner Penske Automotive has revealed “all-time record quarterly results” in Q1 2022 in a trading update from the car retail giant.
Arnold Clark chief executive Eddie Hawthorne, Pendragon chief marketing officer Kim Costello and Auto Trader’s chief operations officer Catherine Faiers are among the headline speakers at this year’s Driving Digital conference.
Research by Motorway has revealed that sellers in Britain lose up to £7 billion when selling their cars.
Urgent action is needed to protect the UK car manufacturing sector after production volumes slumped 32.4% on a COVID-impacted 2021, according to the Society of Motor Manufacturers and Traders (SMMT).
A quarter of in-market car buyers say they are more likely to buy from British brands or choose cars manufactured in Britain to support the automotive sector.
Pendragon’s push to “maximise margins” on its new and used car sales to mitigate against automotive supply constraints have helped deliver a 73.1% increase in Q1 pre-tax profits.
Three Land Rover models took the top three places for used car retail margin in March, according to data analysed by Dealer Auction's Retail Margin Monitor.
