Dealers see surge in profits in Motor Trader Top 200 Report

UK motor retailers have recovered over the past 12 months from the pandemic. Combined MT Top 200 turnover is up 18% to £75.1bn, which is almost back to the 2019 pre-lockdown turnover of £76.6bn The entry level turnover for this edition of the MT Top 200 is up slightly on the previous survey from £31.2m… Continue reading Dealers see surge in profits in Motor Trader Top 200 Report

Hedin acquires Torpedo Gruppe dealerships in Germany

Hedin Automotive has agreed to buy the Torpedo Gruppe’s dealerships in Germany. Founded in 1928, family-run Torpedo Gruppe is one of the oldest and largest dealer groups in Germany. In 2022, Torpedo Gruppe sold 12,000 new and used vehicles with net sales of £527m Euros. Present at 21 locations in Brandenburg, Saxony, Rhineland-Palatinate, Saarland, Hesse… Continue reading Hedin acquires Torpedo Gruppe dealerships in Germany

Dealers lose aftersales business in cost-of-living crisis

Dealers are losing aftersales business as motorists cut back on car servicing and maintenance. A third of drivers in Great Britain have admitted to skipping an essential service on their car due to the cost of living crisis. The squeeze is hitting younger drivers hardest, with almost half (43%) of 18-34 year olds likely to… Continue reading Dealers lose aftersales business in cost-of-living crisis

Ford reveals E-Tourneo Courier to dealers in Denmark

Ford revealed the five-seat, multi-activity E‑Tourneo Courier in Copenhagen, Denmark. E-Tourneo Courier is one of ten all-electric vehicles Ford has committed to offering in Europe by 2024, as it targets zero emissions for all vehicle sales in the region by 2035. “The company is investing $50bn globally through 2026 to achieve a targeted run rate… Continue reading Ford reveals E-Tourneo Courier to dealers in Denmark

Ford outlines plans for EVs and agency roll-out across Europe

  Ford outlined its plans to roll out the agency model across Europe to dealers attending the Bring On Tomorrow Live event in Copenhagen, Denmark. It said that research showed 77% of car-buyers prefer fixed prices, so that they know upfront how much they will pay, and for what. Ford has already introduced transparent pricing… Continue reading Ford outlines plans for EVs and agency roll-out across Europe

Dealers need more support from finance providers to sell EVs

The majority of dealers (58%) believe that more support is needed from their motor finance providers to retail electric vehicles (EVs). May’s Startline Used Car Tracker reported that 41% said their lenders are less keen to finance EVs, 10% want higher deposits from buyers and 5% charge higher interest rates. A further 5% say their… Continue reading Dealers need more support from finance providers to sell EVs

Greenhous expands business with bodybuilder acquisition

Vauxhall, Nissan and VW van dealer group Greenhous Group continues to build up its commercial vehicle arm with the acquisition of commercial vehicle bodybuilder, Bulkrite. Greenhous, rated 13 in the Motor Trader Top 200 Dealer Groups with annual turnover of £1.24bn, is one of the UK’s largest DAF dealer groups. The move will bolster Greenhous… Continue reading Greenhous expands business with bodybuilder acquisition

April records highest increase in used car values in 18 months

The average price of a used car was £17,843 in April, a 1.5% rise on March levels and the largest monthly increase since November 2021. According to Auto Trader, while used car prices have grown on a year-on-year (YoY) basis for 37 consecutive months, the rate of growth has gradually softened since April 2022, when… Continue reading April records highest increase in used car values in 18 months

Brayleys Cars acquires Grovebury Kia from Camplins

Brayleys Cars has acquired Grovebury Kia Dunstable for an undisclosed sum. It now has 18 dealerships, representing Kia, Honda, Mazda, Renault and Dacia across Buckinghamshire, Hertfordshire, Surrey, North & South London, Essex, Kent and Oxfordshire. Brayleys is majority owned by Dubai-based international investors AW Rostamani. last year it turned in a strong performance with pre-tax… Continue reading Brayleys Cars acquires Grovebury Kia from Camplins