Dealers can expect a spike in website traffic, social media activity and volumes of enquiries for new and used cars over the festive season and into the New Year. Marketing Delivery evaluated consumer activity on the websites of motor retailers across the UK at the end of 2022 and identified a 26.7% increase in traffic,… Continue reading Dealers to see increased website traffic over festive period
Author: Motor Trader Online News
Dealers warned to prepare for greater motor finance scrutiny
Dealers have been warned to prepare for a higher level of scrutiny from regulators as motor finance complaints rise. The Financial Ombudsman Service reported that complaints increased by 115% to 4,622 in the third quarter of 2023, saying they were increasingly hearing from people worried about whether they can pay their motor finance deals. Richard… Continue reading Dealers warned to prepare for greater motor finance scrutiny
Omoda recruits dealers to network in preparation for launch in 2024
Omoda has recruited dealer groups Endeavour Automotive, Listers and Peter Vardy to its dealer network as it prepares for the launch of the 5 model in March 2024. The 5 models will come with a 7-year/100,000-mile warranty and 7-year service price cap. This is complemented by 7 years of roadside assistance, automatically renewed with each… Continue reading Omoda recruits dealers to network in preparation for launch in 2024
Dealers say ZEV Mandate will fail to boost EV retail demand
The majority of dealers believe the new government’s Zero Emission Vehicle (ZEV) Mandate will fail to boost electric vehicle (EV) adoption among consumers. That’s the view of the JudgeService Dealer Barometer, which polled the views of 100 dealers to identify the key trends likely to impact EV sales from 2024. Dealers indicated the effectiveness of… Continue reading Dealers say ZEV Mandate will fail to boost EV retail demand
Cost-of-living crisis is ‘biggest challenge’ for dealers in 2024
October 2013 The cost-of-living crisis is going to be the biggest challenge for dealers in 2024. That’s the key finding from Close Brothers Motor Finance’s Forecourt Foresight research. The research, which surveys 200 motor dealers across the UK, found that four-in-five (82%) dealers believe this will be their biggest challenge in 2024, which is a… Continue reading Cost-of-living crisis is ‘biggest challenge’ for dealers in 2024
Dealer Auction reveals most profitable cars for dealers in November
Dealer Auction has revealed the most profitable models for dealers in November. Its Dealer Auction Retail Margin Monitor for November saw mainstream brands offer dealers opportunities for profit, with the Hyundai Tucson breaking into the top three. The Range Rover Evoque reclaimed the top spot, with an average retail margin of £5,100, the joint-highest average… Continue reading Dealer Auction reveals most profitable cars for dealers in November
Brayleys acquires Hyundai dealership in St Albans from Coupers
Hertfordshire-based Brayley’s Group is to represent Hyundai for the first time. The dealer group has bought the Hyundai dealership in St Albans from family-owned business Coupers for an undisclosed sum. The city centre site has been Hertfordshire’s authorised dealer for Hyundai for more than 30 years. The acquisition adds Hyundai to Brayleys’ portfolio of brands,… Continue reading Brayleys acquires Hyundai dealership in St Albans from Coupers
Average used car values fell -3.8% in November year on year
Average used car retail prices fell -3.8% in November year on year, the third consecutive month of YoY decline for retail prices. The biggest fall was seen with EVs which fell 21.1% year on year. Cars aged below five-years-old recorded a -6% drop in November. It said this was due to a combination of increased… Continue reading Average used car values fell -3.8% in November year on year
The impact of the ZEV Mandate on dealers
Now the UK Government has confirmed the detail of its Zero Emission Vehicle (ZEV) Mandate for 2024, Motor Trader looks into the major implications for dealers The controversial rowing back of the UK ban on new car sales of petrol and diesel-engined vehicles from 2030 to 2035 by Rishi Sunak’s Government in late September… Continue reading The impact of the ZEV Mandate on dealers
Used car values continue to fall in November, down 4.2%
November saw used trade values fall by 4.2%, equivalent to £775 at the three-year age point, according to experts at cap hpi. The news follows October’s fall of 4.2%, which means that average trade values have dropped by 8.4% or £1,625 in the last two months. Cap hpi pointed out however that average values remain… Continue reading Used car values continue to fall in November, down 4.2%