Used car retailers face critical business conditions as unprecedented market turbulence and unpredictability continue to take hold, according to Motorpoint CEO Mark Carpenter.
The RAC Dealer Network wants to recruit an additional 200 used car dealer partners in the first half of 2022.
An “exciting and ambitious phase of growth” at carwow has prompted the online car retail marketplace to strengthen its leadership team with a series of senior promotions and appointments.
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.
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.
Big Motoring World has opened its new 3.5 acre, 450-vehicle Peterborough Fengate store – expanding its footprint to five used car outlets.
Motorpoint has expanded to 17 used car retail locations with the opening of a new, 1.5 acre, 120-vehicle dealership in Portsmouth.
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.
Research by Motorway has revealed that sellers in Britain lose up to £7 billion when selling their cars.
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.
Vehicle supplies, compliance and new mobility are considered the three top challenges facing car retailers in 2022, according to the Startline Motor Finance’s first monthly Used Car Tracker survey.
Data from wholesale and retail used car values data providers has indicated “signs of a market correction” but hopes remain that any market decline will be minor.
Used car retailers have been urged to focus on accelerating their electric vehicle (EV) stock holding to around 10% of their forecourts in a bid to embrace an inevitable rise in demand for pre-owned EVs.
The April issue of AM magazine is here, bringing you insights into how dealers are adapting their stocking policies in the supply-constrained used car market, an exclusive interview with Kia UK's leaders and the full list of finalists for next month's AM Awards.
Rapid expansion showed early sign of paying off at V12 Sports and Classic as the business reported a doubling profit in a record-breaking 2021 trading period.
Carwow has introduced new updates to its portal and back-office operations to help make it easier for dealers to source used car stock.
