The transition to net zero continues to grow, with over 1 million electric vehicles (EVs) on UK roads by the end of May. The latest SMMT figures show that while the pace of growth may be slowing, the number of BEVs registered year to date is nearly 10% up on 2023. The proliferation of BEVs… Continue reading BLOG Dealers are adapting new technologies to serve their customers better
Author: Motor Trader Online News
JCT600 profits fell 16% in 2023 as used car values weakened
JCT600 saw pre-tax profits decline 16.3% to £36.03m on turnover down 2.5% to £1.41bn in 2023. In accounts filed at Companies House it said that the move by Mercedes-Benz to an agency model had reduced turnover by £64m. As part of a strategic re-organisation of the company, it gave up the Vauxhall and Peugeot franchises… Continue reading JCT600 profits fell 16% in 2023 as used car values weakened
Decline in used car values hits Barretts of Canterbury profits
Rapidly falling used car values impacted profits at Barretts of Canterbury last year. The group saw pre-tax profits fall 56.9% to £2.2m on turnover up 6% to £276.5m. Last year Barretts of Canterbury sold 2,540 new cars, an increase on the 2,260 units sold in 2022. Used car sales declined to 2,740 compared to 2,960… Continue reading Decline in used car values hits Barretts of Canterbury profits
A quarter of dealers need to pay more into self funded warranty schemes
Warranty Solutions Group (WSG) has revealed that dealers using self-funded warranty admin schemes (Dealer Fund schemes) could be at risk of annual claims exceeding their fund allowance. WSG analysed more than 50 of the admin schemes it administers on behalf of dealers. 22% of dealers had insufficient funds to pay for claims over a 12… Continue reading A quarter of dealers need to pay more into self funded warranty schemes
Kia adds two more dealers to UK rental network
Kia is to expand the number of dealerships offering rental business to 30 this year as it celebrates 10 years in business. Kia Rental was launched in June 2014 with dealerships offering car rental for business and private users directly from a Kia dealership, initially offered at 10 sites dotted across the UK. There are… Continue reading Kia adds two more dealers to UK rental network
Dealers can now offer open banking through Keyloop DMS
Dealers using the Keyloop dealer management system (DMS) will now be able to offer open banking to customers. The DMS specialist has struck a deal with Vyne, the specialist open banking powered account-to-account payment provider. Customers can pay for deposits, parts and servicing, and full payments, directly from their own mobile banking app or online… Continue reading Dealers can now offer open banking through Keyloop DMS
Brayley hits the acquisition trail buying Honda and Suzuki dealerships
Brayleys is celebrating the purchase of two Honda dealerships and a Suzuki business from Crown Motors. Paul Brayley, CEO of Brayleys cars and West Way, took to LinkedIn to announce the move. “It gives me great pleasure to welcome our new team members to the Brayleys family following our recent acquisition of two Honda… Continue reading Brayley hits the acquisition trail buying Honda and Suzuki dealerships
Steer Automotive buys Chartwell and M&A Coachworks
Fast expanding Steer Automotive Group has acquired Chartwell and M&A Coachworks, two top-end crash repair businesses. Derby-based Chartwell, established in 1966, holds manufacturer approvals from Aston Martin, Ferrari, Jaguar, Land Rover, Lamborghini, Maserati, Honda NSX, McLaren, Mercedes Benz. Chris Brightmore, managing director of Chartwell, will remain operationally responsible for the firm while chairman Mark Grogan… Continue reading Steer Automotive buys Chartwell and M&A Coachworks
Luscombe MG Leeds sells 5000th new MG vehicle
Just under four years since opening the showroom, Luscombe MG Leeds has sold its 5000th new MG vehicle. The showroom opened in June 2020, following a two-month delay caused by the COVID-19 pandemic and the first nationwide lockdown. Since then, it has held a launch event for the MG3 Hybrid+ and hosted the flagship MG… Continue reading Luscombe MG Leeds sells 5000th new MG vehicle
City West Country acquires Exeter Mercedes-Benz van centre
City West Country has acquired Mercedes-Benz Van Centre in Exeter which will exclusively sell new vans. The dealership has been owned and operated by Snows Motor Group since 2017. Trading as Mercedes-Benz South West, City West Country has a long history of Approved Used Van Sales and Van After Sales. Mike Wickins, MD of City… Continue reading City West Country acquires Exeter Mercedes-Benz van centre