More than half (51%) of car dealers think that the arrival of new Chinese electric vehicle (EV) companies in the UK market will force some established manufacturers out of business. Startline’s has said that 31% believe some existing brands are already falling behind and 36% say that the next few years will see them fold… Continue reading Over half of car dealers think Chinese EV brands will force others out
Author: Motor Trader Online News
Used dealers buying to order with high value premium cars
Used car dealers continued to avoid stocking higher value premium used cars in May to help preserve their cashflow. According to Aston Barclay, they instead chose to bid on and buy high value used cars at auction to satisfy customer orders to provide an instant profit margin while protecting cashflow. Sixteen out of the top… Continue reading Used dealers buying to order with high value premium cars
Opportunity for dealers from LEZ sales
Since the expansion of London’s Ultra Low Emission Zone (ULEZ) was announced in November 2022, carwow has seen a 101% increase in the sale of used cars via its Sell My Car service. It expects this to continue growing significantly as the 29 August deadline approaches. But as well as the expansion of the Ultra… Continue reading Opportunity for dealers from LEZ sales
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