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
Author: Motor Trader Online News
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
Motor Trader Retailing Expo 2023 – a new event for dealers
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
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