Demand for subprime lending has more than doubled in the last year, according to motor finance broker Caerus Capital.
CarGurus’ 2021 Buyer Insight Report has found that the 63% of car buyers are now open to the idea of buying a vehicle online as a result of the impact of the COVID-19 pandemic.
Mazda UK managing director Jeremy Thomson has told AM that the brand plans to “capture back” 50% of March sales lost to COVID-19 ‘Lockdown 3’ showroom closures in April, May and June.
Costly corporate identity upgrades and showroom developments should be pulled forward to take advantage of Rishi Sunak’s ‘super-deduction’ tax relief offer, according to RSM.
New data from Cox Automotive shows orders for new ‘21’ number plate cars in March, usually the industry’s best performing car sales month of the year, were down by as much as 30%.
Marshall Motor Holdings chief executive Daksh Gupta has said that the AM100 PLC will consider repaying Government furlough payments “if we have the opportunity”.
Marshall Motor Holdings reported revenues down by 5.3% to £2.15 billion as pre-tax profits rose 3.7% to £20.4 million in a COVID-19 impacted 2020 car retail market.
The average list price of a used car increased by 1.5% in February, climbing from £12,370 to £12,558, according to eBay Motors Group.
Volkswagen has set-out its plan to leverage profitability from data as it focuses on a future of autonomous electric vehicles (EV) with its new Accelerate brand strategy.
Vertu Motors chief executive Robert Forrester has insisted that his business is not making a switch to online car sales after a 360% rise in end-to-end digital transactions in 2020.
Porsche GB’s growing franchised car retail network contributed to a February sales result which delivered growth amid a market down 35.5% due to the ongoing COVID-19 ‘Lockdown 3’ showroom closures.
Car dealers should be braced for “a third, successive dismal new plate month” in March after COVID-19 ‘Lockdown 3’ delivered another 35.5% decline to the UK’s new car registrations in February.
Chancellor of the Exchequer Rishi Sunak has pledged to continue to support businesses and jobs in a “fair and honest” 2021 Budget, but corporation tax rises are on the horizon.
A What Car? survey of 2,359 in-market car buyers has found that 59% are now poised to purchase on April 12 following Prime Minister Boris Johnson’s announcement on the re-opening of retail after COVID-19 ‘Lockdown 3’.
Orders placed for new vehicles fell by 18.3% in February and used dropped by 30% according to the latest figures from lead management firm, Dealerweb.
Car retail's switch to omnichannel retailing during successive COVID-19 lockdowns have ensured that used cars buyers have “never had it so good”, according to CarShop CEO, Nigel Hurley.
The number of cars expected to fail their MOT test in 2021 has increased, according to a new survey by the Motor Ombudsman.
Volvo Car UK has revealed a new retail strategy that will see 100% of the Swedish brand’s vehicles sold online as its shifts to a wholly electric vehicle (EV) product range by 2030.
The FCA has told Lookers does not intend to apply any sanction against the car retail group following the decision to close its investigation into the ‘possible mis-selling’ of regulated products.
Cap HPI has said that a realignment of used car price values was “always likely” after it reported a fifth consecutive month of declining vehicle prices across the sector.
