The Motor Trader Retailing Expo 2023 is a new event taking place this October at Silverstone Circuit, the home of Formula One. The event enables UK motor retailers to interact with suppliers and exhibitors and the large numbers of dealers attending the event The Expo will offer opportunity for exhibitors to showcase new products and… Continue reading Motor Trader Retailing Expo 2023 – a new event for dealers
Author: Motor Trader Online News
Stock availability is “biggest challenge” facing used car dealers
Stock availability is still a problem for dealers although it has seen some improvement. That’s the conclusion of research from Startline which found that 62% of dealers reported stock availability was a problem although 12% said availability is improving. Stock availability was also named as the biggest challenge for the future retailing of used cars… Continue reading Stock availability is “biggest challenge” facing used car dealers
Lexus offered dealers the “best opportunity for profit” in March
Lexus offered dealers the best opportunity for profit in March 2023. According to Dealer Auction, premium marque clocked an average retail margin of £3,350, followed by Subaru at £3,100 and Land Rover at £3,000. This represents the most significant shift in the top three makes since the launch of the Retail Margin Monitor, which has been… Continue reading Lexus offered dealers the “best opportunity for profit” in March
Dealers miss out on potential profit in March by under-pricing
Retailers missed out on nearly £25.5m in potential profit in March by pricing their stock below their true market value. Auto Trader’s reported that nearly 7,700 of its circa 15,000 retailer partners advertised their cars below their current value with each retailer leaving an average of £3,300 in potential profits on the table as a… Continue reading Dealers miss out on potential profit in March by under-pricing
Inchcape continues switch from retail to distribution with latest acquisition
Inchcape has acquired Mercedes-Benz’s Indonesian business with Inchcape’s local partner, Indomobil. The move is part of the group’s strategy to become the distributor of choice for carmakers. Inchcape now has just two retail businesses in the UK and Poland following the sale of its retail arm in Russia and Australia. The deal will expand Inchcape’s… Continue reading Inchcape continues switch from retail to distribution with latest acquisition
carwow reports 150% YoY increase in used cars bought by dealers
carwow has reported an almost 150% increase, year-on-year, in the number of used cars bought by dealers via the platform in March. The volume of used stock available to dealers on the carwow platform has risen by over 230% since November 2022, when the company shifted to an auction model and introduced tighter controls on… Continue reading carwow reports 150% YoY increase in used cars bought by dealers
Dealers congregate in Hamburg for Volkswagen showcase event
Imelda Labbé and Thomas Schäfer (from left). Volkswagen dealers are travelling to Hamburg to check out the new cars planned for the next few years. Volkswagen said 13,000 dealers will attend the event to learn about 14 vehicles, including the second generation of the ID.31, the ID.72 and the showcar ID. 2all3. They can also… Continue reading Dealers congregate in Hamburg for Volkswagen showcase event
Dealers buying high value stock only to fulfil orders
Most dealers are continuing to only buy higher value used cars to order rather than for stock. According to the latest Aston Barclay desirability index eight out of the ten used cars in the March are higher value premium used cars with dealers protecting their cashflow by only bidding on these cars to fulfil sold… Continue reading Dealers buying high value stock only to fulfil orders
Dealers cut spending on staff, stock and premises
Dealers are cutting back on spending as the cost of living bites. That’s a key finding of a survey from Close Brothers Motor finance which found 78% of dealers singled out inflation as the biggest problem they face. One in five (17%) dealers are spending little on staff numbers, and 13% plan to cut back… Continue reading Dealers cut spending on staff, stock and premises
US Group Lithia acquires Jardine Motors Group
Lithia & Driveway has bought Jardine Motors Group from Jardine Matheson. The acquisition represents the US Group’s first entry into the UK. Jardine management will remain in place and Lithia has said that employees will not be negatively impacted by the transaction. The group is expected to generate over $2 billion in annual revenue. Reports of… Continue reading US Group Lithia acquires Jardine Motors Group