The National Franchised Dealers Association (NFDA) has launched a new division to provide dealers with advice on finance and take them through the Financial Conduct Authority motor finance redress scheme. NFDA Business Solutions, to provide members with support and guidance finance and Insurance (F&I) plus compliance. It will support with FCA compliance in relation to… Continue reading NFDA launches division to support dealers through FCA redress scheme
Author: Motor Trader Online News
Average amount dealers pay to Auto Trader per month rises 5% to £2,994
Auto Trader turned in a strong performance in the half year to September 30 with pre-tax profits up 6% to £199.3m on turnover ahead 5% to £317.7m. The number of dealers on its books rose 1% to 14,080 and the average amount they paid the group per month rose 5% to £2,994. As part of… Continue reading Average amount dealers pay to Auto Trader per month rises 5% to £2,994
Steer Automotive acquires Lloyds Autobody vehicle repair specialist
Steer Automotive Group hit the acquisition trail this month with the purchase of Lloyds Autobody, a luxury vehicle repair specialist with operations in Liverpool and Manchester. Steer Automotive already has a presence in top end crash repair with its Steer Luxury Collection, comprising Chartwell, M&A Coachworks, and the Steer Luxury sites. Lloyds Autobody will continue… Continue reading Steer Automotive acquires Lloyds Autobody vehicle repair specialist
MG dealers to get faster parts deliveries with new Daventry operation
MG Motor is to open a warehousing and parts distribution centre in Daventry, Northamptonshire. The 15,000 m² facility will initially employ 40 people but has further capacity to meet future demand for MG parts and services. MG has partnered with XPO Logistics for parts logistics. Over 150 UK retailers will be supported by the parts… Continue reading MG dealers to get faster parts deliveries with new Daventry operation
Dealers see ‘dramatic resurgence’ in demand for used EVs
Retail prices of used cars rose for a second consecutive, according to the latest data from Percayso Vehicle Intelligence. October saw values for 3-year-old cars up 1.2% or £300 following September’s 0.9% rise. This growth comes as trade values have dropped, slightly widening margins for retailers on the back of continued low stock levels for… Continue reading Dealers see ‘dramatic resurgence’ in demand for used EVs
Franchised dealers see surge in forecourt stock levels
October saw dealer used car inventories hit their highest level for the year as dealers assimilated the part-exchanges generated by the September plate-change. Data from motors showed average stock levels grew 7% month-on-month (MoM) from 50 to 54 units, representing a 2% rise year-on-year (YoY). It said the hike was powered by car supermarkets, where… Continue reading Franchised dealers see surge in forecourt stock levels
Dealers urged to ‘challenge inaccuracies’ on AI generated overviews
2434551723 AI technology is reshaping how motorists decide where to buy and service their next car. That’s the view of Motorvise which said more customers are now basing decisions on AI summaries rather than on official websites or user reviews. “The real AI revolution in the motor trade isn’t happening on a dealership’s website, it’s… Continue reading Dealers urged to ‘challenge inaccuracies’ on AI generated overviews
Dealers ‘more confident’ about retailing used EVs on forecourt
Dealers chose to trade more of their used EV part exchanges in Q3 rather than sell them at auction according to Autorola. Its wholesale MarketPlace online platform saw used EV volumes fall by -11.1% between Q2 and Q3 as dealers gained increased confidence to stock and sell their zero emission part exchange cars. “In 2023… Continue reading Dealers ‘more confident’ about retailing used EVs on forecourt
CMA refers BCA and Aston Barclay merger to phase two inquiry
The Competition and Markets Authority (CMA) has referred the takeover of Aston Barclay by Constellation Developments to a phase two investigation. It said it was concerned that a merger could reduce competition and potentially lead to highr prices and a reduction in choice for customers using auctions. Constellation owns British Car Auctions, which is the… Continue reading CMA refers BCA and Aston Barclay merger to phase two inquiry
Dealers increasingly using AI for customer contacts and motor finance
Dealers are increasingly using AI to boost their business performance in car sales and finance. Almost two-thirds of car dealers (62%) are using artificial intelligence (AI) within their business, according to new research. October’s Startline Used Car Tracker shows 38% are employing the technology to help car buyers find the right vehicle, 31% to handle… Continue reading Dealers increasingly using AI for customer contacts and motor finance