Vertu Motors PLC leveraged car retail’s “sector tailwinds” to deliver a 41.9% rise in turnover and 228% rise in adjusted pre-tax profits in a record-breaking set of 2021 annual financial results.
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.
Buyacar founder Andy Oldham has left his position with the business’s new owner, Autovia, after a new strategic direction brought an end to the platform’s online sale of used cars and motor finance.
Cazoo has revealed that its gross profits and profit-per-unit both declined as its online used car sales soared to deliver record revenues in Q1 2022.
As the car retail sector becomes increasing digital-savvy, AM's Debbie Kirlew took a look at six key areas where strides are being made towards a true omnichannel customer journey.
Vertu Motors has declared that its promotion of IT director Bruce Clark into the newly-created role of chief technology officer marks “a further step change in its focus on technology".
There are now more avenues for car dealerships to sell their vehicles than ever before but has the part-exchange process truly embraced the transparency of a truly omnichannel customer journey?
Citroen’s cheapest new model is now the C3 YOU!, but buyers will only be able to purchase the new £12,995 hatchback online.
Automotive retailers were obliged to accelerate their omnichannel retail plans in response to the COVID-19 pandemic, but another by-product of this development has been the demise of the haggle.
Cazoo reported seeing a “clear path for significant Retail GPU improvement” from its online used car sales after reporting a £550 million loss in 2021.
A BBC Watchdog investigation has called into question online car retailer Cazoo’s 300-point check on all its vehicles after failing to uncover documentary evidence of such scrutiny being carried out.
Genesis UK has expanded its home test drive programme to offer nationwide coverage for customers looking to experience a Genesis car ahead of purchase.
Evolution Funding has partnered with Codeweavers to help dealers deliver a ‘more streamlined’ finance journey to customers.
Polestar is catching up with Tesla in a global ranking of car makers’ online sales performances.
Car retailers driving towards an omnichannel sales journey could be subject to a double-whammy of “complex” new taxation, it has been suggested.
ICDP managing director Steve Young has asserted that the agency retail model is the “most water-tight” way to deliver the omnichannel retail experience that modern car buyers expect.
In the latest of AM's '10 minutes with...' supplier insight interviews, drivvn chief executive Peter Brown discusses online car sales, the ominchannel customer journey and the influence of the agency retail model.
ITV and Channel 4 are set to drive carwow’s exposure in a strategic media-for-equity deal struck part of the online car marketplace’s latest investment round.
Many car dealers are still “missing out on the full potential of digital retailing” according to a joint report created by Auto Trader, ICDP and the National Franchised Dealers Association (NFDA).
Online car buyers can now pre-order the Genesis premium brand’s first electric vehicle (EV), the GV60 – with prices starting from £47,005.
