Bodyshop chain Steer Automotive Group has bought Komoo for an undisclosed sum. Komoo has a network of fleet repair sites located near airports and vehicle storage hubs. It carries out minor body repairs, from cosmetic dents and scrapes to full vehicle resprays for rental and fleet firms. Carl Henderson, managing director of Komoo, Dale Peart,… Continue reading Steer Automotive buys Komoo rental and fleet repair firm
Author: Motor Trader Online News
Dealers sign up to Alphera motor finance code
Marriott Motor Group, Howards Motor Group, VR EPS Warrington, Phantom Motor Company, Eastern Western Group and Hippo Motor Group are among dealer groups who have signed up to Alphera’s motor finance code. The Consumer Duty+ Code of Excellence involves commitment to improving services, a focus on ‘good customer outcomes’, empowering customers to make informed decisions,… Continue reading Dealers sign up to Alphera motor finance code
Dealers urged to use ‘blend’ of instincts and insights to navigate used market
Auto Trader expects the used car market to perform well in H2, with sales predicted to rise 5% YoY to around 7.6m transactions, but warns dealers of a need to adapt due to supply shifts. Dealers will need to adapt to a rapidly changing parc and forecourt over the next few years. Marc Palmer, head… Continue reading Dealers urged to use ‘blend’ of instincts and insights to navigate used market
Vertu acquires Honda Exeter from Hendy Group
Vertu Motors has continued its expansion into the South-West with the acquisition of Honda Exeter from Hendy Group this week. The dealership, rebranded as Vertu Honda Exeter, brings Vertu’s Honda dealerships across the UK to a total of 17. In the South-West, Vertu Honda Exeter joins Vertu Honda Plymouth and Vertu Honda Truro. Chris Taylor,… Continue reading Vertu acquires Honda Exeter from Hendy Group
Evolution Warranties strikes deal with GSF to save dealers thousands
Evolution Warranties agreed a deal with GSF Car Parts for an exclusive new programme for dealers to save thousands on parts. Evolution Prep Direct (EPD) will enable dealers to significantly reduce vehicle prep costs while increasing profitability. The programme is available across the UK, including Northern Ireland, from over 190 outlets with same day and… Continue reading Evolution Warranties strikes deal with GSF to save dealers thousands
Group 1 reports strong financial results amid ‘focus’ on Inchcape acquisition
Group 1 has reported revenues of £3.6 billion and profit of almost £600 million in Q2. The dealer Group, which operates 206 dealerships across the UK and the US, has been focus on expanding its geographic footprint. Daryl Kenningham, Group 1’s President and CEO, said: “Our U.K. team remains focused on the acquisition of Inchcape’s… Continue reading Group 1 reports strong financial results amid ‘focus’ on Inchcape acquisition
Ferrari to extend crypto payment system to European dealers
Ferrari will extend its cryptocurrency payment system to European dealers from the end of July in order to cater to evolving needs. The payment system was successfully launched in the US less than a year ago. Ferrari partners with Bitpay and accepts Bitcoin, Ethereum and the stablecoin USDC in the US. Ferrari expects to expand… Continue reading Ferrari to extend crypto payment system to European dealers
Carwow launches new Assured Scheme to protect dealers
Carwow has launched its new Assured Scheme, dubbed Carwow Collects, to protect dealers from financial losses caused by unknown issues with a vehicle bought at a Carwow auction. Dealers can make a request of up to £25,000 where an eligible vehicle needs repairs that were not picked up in the inspection. A request can also… Continue reading Carwow launches new Assured Scheme to protect dealers
Dealers say limited online-only sales potential is main reason for Cazoo collapse
Dealers say that limited potential for online-only motor retail was the top reason for the collapse of Cazoo, according to Startline’s July Used Car Tracker which questioned 62 dealers. Half of dealers surveyed said online-only was a problem, followed by 37% who said investors overestimated efficiencies that could be accessed through technology, and 35% said… Continue reading Dealers say limited online-only sales potential is main reason for Cazoo collapse
New tech can help dealers deliver good Consumer Duty outcomes, says iVendi.
New technology is needed to help dealers deliver positive outcomes in relation to Consumer Duty, says iVendi. Most of the major providers in the motor finance market are switching to a risk-based pricing model. Current systems do not always allow dealers of consumers to see the actual interest rate they would pay until an application… Continue reading New tech can help dealers deliver good Consumer Duty outcomes, says iVendi.