Car dealers focussing on what should have been a busy numberplate change month of March suffered a £17,500 loss for the month prior to of the outbreak of COVID-19 coronavirus, ASE has reported.
The rate of “cash burn” within automotive sector businesses will come under close scrutiny during the COVID-19 coronavirus lockdown, according to GlobalData.
INDICATA has highlight the effects of the COVID-19 coronavirus on Europe's used car market with the publication of its new Market Watch data report.
While March's 44.4% registrations decline did not reveal the full extent of the automotive retail sector's COVID-19 coronavirus lockdown decline, Auto Trader has insisted that car buyers are still researching their next purchase.
There is nothing in the current trade or retail data to suggest that used car values will crash due to the COVID-19 coronavirus lockdown period.
Auto Trader has launched a new AT Market Insight data tool which claims to utilise “up-to-date” information from the car retail sector to deliver an accurate appraisal of market conditions.
Used car dealers had begun to reduce the value of their forecourt stock as the UK transitioned from normal trading into a Government-imposed COVID-19 coronavirus lockdown, according to Cazana.
Motorpoint chief executive Mark Carpenter has vowed to give-up his own income from the used car supermarket business in order to top-up the wages of ‘furloughed’ staff during the COVID-19 coronavirus lockdown.
The motor industry may have dipped a toe in the online retail pool, but Zoople and LoveFilm founder Alex Chesterman has just leaped in head-first with his latest project - car retail platform Cazoo.
Used car values declined 2.2% in March as retail and trade demand fell due to the Covid-19 coronavirus crisis, according to Cap HPI.
The point of sale (POS) car finance market declined 2% by value and 5% by volume in January 2020, the Finance and Leasing Association (FLA) has revealed.
Cazoo has launched a further £100 million to boost its online car retail ambitions after delivering £20 million worth of vehicle sales in its first three months of trading.
BCA’s UK-wide car auction sales will go online only from March 26 as the remarketing specialist “prioritises the well-being of customers and our people” amid the COVID-19 coronavirus outbreak.
BCA has revealed that the average value of a used vehicle rose 1.6% to a record £10,002 at its auctions in February as it praised the sector's resilience in the current COVID-19 coronavirus health crisis.
Pendragon has revealed that it suffered a £117.4 million loss after tax in 2019 in an annual results statement that revealed the full impact of “significant H1 losses”.
Imperial Cars has opened the doors at its 17th used car retail site with the completion of a new showroom facility in Birmingham.
Big Motoring World chief executive Peter Waddell and former Cox Automotive president of international operations John Bailey are set to launch Carzam – a new "Amazon-style" online car retail platform.
Ford retailer Hills Automotive has expanded its used car and commercial vehicle operations into a new location with the acquisition of the Savilles Garage car dealership at Mustow Green, Kidderminster.
The 2016 Ford Ka city car has retained its status as Auto Trader’s fastest-selling used car in February as the online marketing platform recorded a speeding-up of stock turn ahead of the key number plate change month of March.
An independent used car dealership has been ordered to pay £14,000 after attempting to sell and Audi Q7 SUV having ‘clocked’ the vehicle to remove 30,000 miles from its mileage.
