Close up of a car mechanic doing a check list on his clipboard Dealers are selling more value-added products such as warranties, service plans and MOT insurance. That’s the claim from technology group iVendi which said that since the beginning of 2021, the number of motor finance applications made through its platform that include at… Continue reading Dealers boost sales of warranties and service plans says iVendi
Author: Motor Trader Online News
Hedin Automotive completes acquisition of Stephen James
Hedin Automotive said today it had completed the acquisition of Stephen James Alliance that was first announced in July. The transaction comprises all operations of the BMW and MINI retailer Stephen James Group, which employs circa 400 people. Following the acquisition, Hedin Mobility Group now represents BMW, MINI, Mercedes-Benz and smart in the UK with… Continue reading Hedin Automotive completes acquisition of Stephen James
What financial technology it can do for dealers and customers
Used car finance interactions between car dealers and customers can feel fraught, with lengthy application processes while lenders search for suitable deals. Purchasers wishing to drive away the same day may become dissatisfied – something advancing financial technology (fintech) can solve, facilitating swift lender decisions that allow dealers to offer competitive finance to more customers.… Continue reading What financial technology it can do for dealers and customers
Embracing omnichannel is a must for used dealers
Franchised dealers must offer customers a “seamless used car buying experience by better embracing omnichannel”. That is the view of Steve Young of research and consulting specialists ICDP, writing in Cox Automotive’s quarterly insight, AutoFocus. Young said that mastering omnichannel is essential if franchised retailers wish to avoid losing used vehicle customers. He also cited… Continue reading Embracing omnichannel is a must for used dealers
Dealers see post-pandemic surge in warranty sales
The number of warranties sold for 10 to 20-year-old cars has risen by 67% since the pandemic. In 2020, 6% of all policies sold through the RAC Dealer Network’s 1,200 used car retailers were for vehicles in this age range but during the first six months of this year, it had risen to 10%.… Continue reading Dealers see post-pandemic surge in warranty sales
Dealers expect incoming Chinese brands to succeed in the UK
Franchised car dealers expect Chinese brands to secure a “significant share of the UK’s new car market” within the next five years. According to carwow, expectations are that Chinese brands will establish a modest foothold over the coming year, but their market share will increase markedly thereafter. Only 13% think Chinese brands won’t be successful… Continue reading Dealers expect incoming Chinese brands to succeed in the UK
Trade body RMI raises issue of ‘precariously high” used car values
The Retail Motor Industry Federation (RMI) , the umbrella organisation for franchised dealers (NFDA), independent garages (IGA) and auction houses (NAMA) , has raised doubts on the health of the used car market in the UK. In the strategic report accompanying accounts filed at Companies House it said values were “precariously high”. “The used… Continue reading Trade body RMI raises issue of ‘precariously high” used car values
Hedin Automotive buys Stephen James BMW and Mini dealerships
Hedin Automotive, a subsidiary to Hedin Mobility Group, has entered an agreement to buy Stephen James Alliance. The deal takes in the group’s BMW and MINI business, including new and used car sales and aftermarket operations. Stephen James Group employs 400 people and sells 6,000 new and used cars annually from its London dealerships. It… Continue reading Hedin Automotive buys Stephen James BMW and Mini dealerships
Used car values down 1.9% in July, dealers purchase with caution
Used car values fell by 1.9% in July. According to data experts at cap hpi, the fall is a larger drop than the average pre-COVID July figure of a drop of 1.2%. The largest-ever July decline was 2.2% in 2019. Cap hpi said that dealers remain cautious when purchasing stock, and it is important to remember… Continue reading Used car values down 1.9% in July, dealers purchase with caution
Group Auto Holdings tables £504.2m takeover offer for Lookers
Group Auto Holdings has increased its takeover of Lookers offer to £504.2m. In June Canadian dealer group Alpha Auto Group, a sister company of Group Auto Holdings, tabled a £465m bid for dealer group Lookers. Shareholders rejected the previous offer. Lookers Directors intend to recommend “unanimously” that Lookers Shareholders accept the increased offer. Global Auto… Continue reading Group Auto Holdings tables £504.2m takeover offer for Lookers