Holden Group has acquired Cecil & Larter Volvo dealership in Bury St Edmunds this week. The group has also announced plans for a new multi-million-pound, state-of-the-art facility for Hylton Gott Volvo, which it acquired in 2019. Tim Holden, chairman of Holden Group, said “Our family business is 95 years old, dating back to 1928 when… Continue reading Holden Group buys Cecil & Larter in Bury St Edmunds
Author: Motor Trader Online News
Lithia delivers improved £397m offer for Pendragon
Lithia has signed a revised agreement on improved terms with the Board of Directors of Pendragon to enter into a strategic partnership with Pinewood Technologies buy Pendragon’s UK motor division and vehicle management division. Under the revised terms, Lithia has increased the total cash consideration versus its original offer announced on 18 September by 42%,… Continue reading Lithia delivers improved £397m offer for Pendragon
Dealers ‘concerned’ with government ZEV Mandate sales targets
The National Franchised Dealer Association (NFDA) expressed concerns on the government ZEV Mandate published yesterday. It said the decision to leave the numbers unchanged had caused concerns among franchised dealers given the government’s decision to roll back the deadline for sale of ICE cars to 2035. NFDA CEO Sue Robinson said: “The Government’s decision to… Continue reading Dealers ‘concerned’ with government ZEV Mandate sales targets
Used car values fall in September, Q4 to see further decline
Used car values fell by 1.9% or £420 at the three-year, 60,000-mile point in September, according to cap hip. It is the largest drop in the month since 2008 when values dropped by 4.1% as the financial crisis affected the market. September is generally a positive one for cap live figures; since 2016, each September… Continue reading Used car values fall in September, Q4 to see further decline
Autoglym to expand roll-out of Retailer Digital Toolkit
Autoglym is to expand the roll-out of its Retailer Digital Toolkit to support the launch of its new next-generation LifeShine product, to more franchised dealers The LifeShine CeraFuse paint protection system is claimed to be Autoglym’s most technologically advanced product to date. The toolkit includes digital demonstration and lifestyle videos, which are supported by digital… Continue reading Autoglym to expand roll-out of Retailer Digital Toolkit
Dealers more confident about used car supply in coming year
More than half of dealers (55%) expect 2024’s used car market to be “better” than this year’s, new research shows. September’s Startline Used Car Tracker shows that 45% believe there will be better stock supply and 43% that demand for electric vehicles (EVs) will increase. However, just 25% expect there to be an improvement in… Continue reading Dealers more confident about used car supply in coming year
BLOG Pendragon: Dealers, deals and data
Interesting news this morning which has ramifications beyond the UK concerning Pendragon, ranked the seventh largest dealer group in Europe in ICDP’s 2022 rankings. The business has been ‘in play’ for some years, since the Hedin Group first bought a stake in 2019, subsequently attracting formal offers from both Hedin and Lithia. Although still subject… Continue reading BLOG Pendragon: Dealers, deals and data
Dealers do not believe ICE ban will go ahead as planned
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
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