Consumers want the next government to focus on restimulating the private market for electric vehicles. That’s the key finding of a General Election survey from the National Franchised Dealers Association. The survey received 51 responses from various franchised dealership groups across the UK, collectively representing over 300 sites. “Through NFDA’s General Election survey and manifesto,… Continue reading NFDA general election survey sees private EV sales boost as big issue for dealers
Author: Motor Trader Online News
Dealers hit out at OEM pressure to sell EVs
Most dealers say they are under pressure from carmakers to sell EVs to meet ZEV Mandate targets. A survey of dealers carried out by the National Franchised Dealers Association (NFDA) found that 39% of dealers were under ‘a great deal’ of pressure to sell EVs whilst 32% were under ‘a moderate amount’ of pressure. The… Continue reading Dealers hit out at OEM pressure to sell EVs
Cyber attack on CDK Global impacts dealers in the US
CDK Global was hit by a cyber attack in the US on Wednesday forcing it to shut down its applications for US dealers. The US software giant services 15,000 outlets across the US, with thousands of dealers and the majority of OEMs on its boos. The company “shut all systems down and executed extensive testing… Continue reading Cyber attack on CDK Global impacts dealers in the US
Central Car Auctions welcomes dealers back to in person sales
Central Car Auctions has brought back physical drive through auctions to their Glasgow site for the first time in four years. In-person events were paused during the pandemic with digital auctions taking their place. The first auction took place on 19 June. All vehicles are graded using the industry-recognised NAMA standards. As well as being… Continue reading Central Car Auctions welcomes dealers back to in person sales
Shawbrook buys top end motor finance provider JBR Auto Holdings
Finance provider Shawbrook Group is to buy high end motor finance specialist JBR Auto Holdings, for an undisclosed sum. The acquisition broadens Shawbrook’s offering within the regulated motor finance sector. Marcelino Castrillo, chief executive officer at Shawbrook, said: “JBR’s extensive knowledge of this specialist segment within the wider motor finance market is exceptional. Aligning the… Continue reading Shawbrook buys top end motor finance provider JBR Auto Holdings
BLOG Dealers are adapting new technologies to serve their customers better
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
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