Almost a third of motorists welcome the petrol and diesel ban delay as it will allow more time for EV infrastructure improvements and technology advancement, according to Close Brothers Motor Finance. The research finds 28% of motorists expect this will give manufacturers time to improve EV technology and extend battery range while 27% expect initial… Continue reading Dealers encouraged to monitor stock in light of ICE ban delay
Author: Motor Trader Online News
BCA reports stable February used car values
Used car values at BCA remained stable in February as a result of increasing buyer engagement and strong competition for vehicles. Used car values averaged £7,564 at BCA in February, down by £33 (0.4%) compared to January. However, used car values are still 9.4% ahead of the December 2023 low point. Buyer appetite for stock… Continue reading BCA reports stable February used car values
Norton Way MD spells out data and systems challenges for dealers
Dealers need a business strategy for a digital world to beat the challenges of fragmented data and inadequate legacy systems. That’s the view of Jason Cranswick, managing director of Norton Way Motors, expressed during a special webinar organised by The Lead Agency Cranswick, who has held senior roles at Cinch, Audi and Jardine Motor, said:… Continue reading Norton Way MD spells out data and systems challenges for dealers
Dealers get access to fleet stock on ‘Dealer Showroom’
Dealer who use the epyx 1link Trade Buyer Platform can access the 1,200 fleet cars on its books. Dealers can present vehicles being sold by major fleets alongside their own stock thanks to a new feature introduced recently. Called Dealer Showroom, it is designed to be used when a consumer has approached a dealer looking… Continue reading Dealers get access to fleet stock on ‘Dealer Showroom’
Read Motor Group buys TL Darby
Family run Read Motor Group has acquired the TL Darby Volkswagen dealership for an undisclosed sum. The dealership will convert to Hyundai while retaining the Volkswagen aftersales side of the business as an authorised repairer. Read Motor Group was formed in the 1980s by owner Mike Read. It is based in Lincolnshire, Yorkshire, Nottinghamshire, Derbyshire… Continue reading Read Motor Group buys TL Darby
Skills shortage impacts opportunities to maximise profitability
The skills shortage in the UK automotive industry is widespread and impacting profitability, according to 56% of those involved in Autotech Recruit’s 2024 survey of 109 professionals. There will be an increase in vehicle technician vacancies over the next year according to half of respondents. Around 70% identifying recruiting vehicle technicians as one of the… Continue reading Skills shortage impacts opportunities to maximise profitability
JLR outlines strategy and names top dealers at conference
The Jaguar Group of the Year was won by Lloyd Motor Group, which has dealerships across Cumbria, Lancashire, Newcastle upon Tyne, North Yorkshire and Scotland. Lloyd Carlisle won the Jaguar Retailer of the Year. The winners were announced at an event for Jaguar and Land Rover dealers where management outlined the Reimagine Together strategy for… Continue reading JLR outlines strategy and names top dealers at conference
Dealer Auction reveals most profitable used cars for dealers
Land Rover Range Rover Evoque topped the charts of Dealer Auction’s February Retail Margin Monitor, with an average retail margin of £3,925. The Jaguar XF ranked second (£2,800) while the fastest-selling profit turner (37 days on average) Mazda CX-5 (£2,775) ranked third. Kieran TeeBoon, Dealer Auction’s marketplace director, said: “February’s results were a resounding triumph… Continue reading Dealer Auction reveals most profitable used cars for dealers
Falling used car values hit profits at Volkswagen Financial Services
Volkswagen Group’s financial results reveal its Financial Services Division’s operating profit fell a third below the previous year’s profit due to the normalisation of used car prices. Although the division contributed €3.8 billion to the Group result, used car values impacted profit. In 2021 and 2022 the residual values of used cars rose as a… Continue reading Falling used car values hit profits at Volkswagen Financial Services
Dealers celebrate International Women’s day
This International Women’s Day, dealers in the industry have highlighted the importance of representation of women in leadership roles. The National Franchised Dealers association (NFDA) has shared inspiring posts from members. An initiative developed by Lookers Motor Group is its “Mission Gender Equity” female mentoring programme, in partnership with social impact organisation Moving Ahead, led… Continue reading Dealers celebrate International Women’s day