The majority of dealers, 85%, do not believe the Government’s 2030 petrol and diesel ban will go ahead as planned. That’s the key finding of the latest Forecourt Foresight research from Close Brothers Motor Finance. The study, which looked at dealer’s views of the current landscape, found that two-thirds (66%) of dealers believe the ban… Continue reading Dealers do not believe ICE ban will go ahead as planned
Author: Motor Trader Online News
Stock shortages to hit supermarkets harder than indies or franchised dealers
Supermarkets look set to be worst hit by stock shortages in the coming year. At a Finance & Leasing Association Conference this month on the Future of Automotive Finance, Auto trader director of automotive finance Rachael Jones said supermarkets would suffer more than independent or franchised dealers because they were exposed to cars aged three… Continue reading Stock shortages to hit supermarkets harder than indies or franchised dealers
Used BMW models perform strongly in Dealer Auction profitability stakes
Data from Dealer Auction’s Retail Margin Monitor has revealed that BMW models offered significant opportunities for dealers looking to bolster their profit margins in August. Three BMW models placed in the top 10, while the brand as a whole achieved second place in the average retail margin ranking. The BMW 3 Series saloon headed the… Continue reading Used BMW models perform strongly in Dealer Auction profitability stakes
NextGear Capital simplifies application process for independent dealers
Wholesale funding provider NextGear Capital has streamlined its application process to make it easier and faster for smaller independent dealers applying for a £50,000 facility. NextGear Capital’s Stocking Plan, for example, funds 100% of the hammer price/CAP clean plus auction and delivery fees and allows instant confirmed payment at 70+ auction and wholesale partners. Managing… Continue reading NextGear Capital simplifies application process for independent dealers
Auto Trader launches EV hub to help dealers track EV market
Auto Trader launched today a new industry EV Hub to enable retailers to keep track of the electric vehicle market, It will include the latest used EV retail pricing data and speed of sale, as well as new and used levels of EV supply and demand. According to Auto Trader the hub will provide retailers… Continue reading Auto Trader launches EV hub to help dealers track EV market
BLOG Motor finance market to get more competitive for used car dealers
Dealers should be ready for 2024’s used car finance market to become increasingly competitive, we’re predicting at iVendi. A range of emerging factors mean that larger volumes of used car sales, an ongoing readjustment of vehicle values, and lenders looking to move into new sectors are all likely to have an impact. Our view is… Continue reading BLOG Motor finance market to get more competitive for used car dealers
Global takeover of Lookers gets go ahead from shareholders
The £504m takeover of Lookers by Global Auto Holdings got the go ahead yesterday at a shareholders meeting. Global is paying 130p per share for the company after it revised the offer upwards from 120p, which had been rejected. In June Canadian dealer group Global Auto Group, a sister company of Group Auto Holdings, tabled… Continue reading Global takeover of Lookers gets go ahead from shareholders
Marshall acquires two Honda dealerships from Greenacre
25 Years of Type R – The 2001 Civic Type R (EP3) Marshall Motor Group has acquired two Honda dealerships from Greenacre. Marshall Motor Group now represents Honda in eight locations in the UK: Blackburn, Clitheroe, Harrogate, Hull, Leicester, Peterborough, Reading and York. Carole Merry, franchise director, of Marshall Motor Group, said: “We are delighted… Continue reading Marshall acquires two Honda dealerships from Greenacre
Peter Vardy buys MG dealerships in Aberdeen and Peterhead from Gillanders
SONY DSC The Peter Vardy Group has acquired the MG Aberdeen and Peterhead dealerships from Gillanders. The franchises are the latest addition to the marque portfolio, following the launch in August of two MG dealerships in Edinburgh and Kirkcaldy. Peter Vardy, CEO of the Peter Vardy Group, said: “We are delighted to add MG Aberdeen… Continue reading Peter Vardy buys MG dealerships in Aberdeen and Peterhead from Gillanders
Australian dealers lose agency legal battle with Mercedes-Benz
A legal case brought by 38 car dealers in Australia against Mercedes-Benz has been thrown out by a Federal Court. The dealers brought the case against Mercedes claiming new agency agreements stripped them of the goodwill they had built up over the years. In January 2022 Mercedes-Benz introduced the agency model in Australia where it… Continue reading Australian dealers lose agency legal battle with Mercedes-Benz