Vertu Motors has reported that it had performed strongly in H1 financial year, but said there remains uncertainty around vehicle supply and the macro-environment for consumers. This, it said in a trading update, is likely to be affected by rising energy costs and inflation generally. As a result, profitability is expected to be more weighted… Continue reading Rising costs likely to harm H2 profitability, says Vertu
Author: Motor Trader Online News
Dealers are “shifting priorities” to compliance and aftersales, says Loop BI
Car retailers are shifting priorities away from new and used car sales to improved compliance and aftersales focus. Loop BI said that the continued lack of supply of new and used vehicles means OEMs and their dealers have shifted their attention to focus on brand experience, meeting standards compliance, and aftersales. Simon Porri, managing director… Continue reading Dealers are “shifting priorities” to compliance and aftersales, says Loop BI
Group 1 acquires BMW and MINI dealer Fairfield Motor Group
Group 1 has acquired Fairfield Motor Group, and Essex-based BMW and Mini franchised car retailer. Fairfield owner Mike Style announced the acquisition on LinkedIn. He said: “After owning Fairfield Motor Group for 34 years and working there for almost 40 years, I’ve made the difficult decision to hang up my boots. “I will be handing the reins… Continue reading Group 1 acquires BMW and MINI dealer Fairfield Motor Group
Pinewood offers open banking option to dealers
Pendragon-owned dealer software company Pinewood is to offer dealers open banking account-to-account payment through a new partnership with Vyne. Dealers can now bypass card networks and their associated fees by offering Vyne’s payment solution, which reduces costs and accelerates cash flow with instant settlement. Vyne integration in Pinewood DMS is available now to all Pinewood… Continue reading Pinewood offers open banking option to dealers
Dealers prove resilient in August despite 21% fall in enquiries
Demand for new and used vehicles declined in August against the same month last year, according to data from lead management experts at iTrackLEADS. Overall enquiries fell 21%, the second largest fall this year. While the number of leads responded to fell by 20%, dealers worked effectively to see only a 12% fall in test… Continue reading Dealers prove resilient in August despite 21% fall in enquiries
Hendy Group completes acquisition of West Way Nissan in Southampton
Hendy Group has completed its acquisition of West Way Nissan in Southampton from Nissan GB. Hendy Group chief executive Paul Hendy said the Nissan dealership is now being integrated into the group ahead of a planned move to new premises in Eastleigh. He said: “We welcome West Way Nissan colleagues to Team Hendy and look… Continue reading Hendy Group completes acquisition of West Way Nissan in Southampton
Allen Motor Group acquires Delgarth Motor Company
Allen Motor Group has acquired Delgarth Motor Company and Milton Keynes Autorama for an undisclosed sum. The two companies that represent Hyundai, Suzuki and Kia in Milton Keynes and Bletchley have been under the ownership of the Turney family since being founded by Dave Turney in 1981. Allen Motor Group operates Ford, Kia and Mazda… Continue reading Allen Motor Group acquires Delgarth Motor Company
NFDA calls on government to support dealers in energy crisis
The National Franchised Dealer Association (NFDA) has called on the government to support the industry to combat the in the energy crisis. By October, energy bills for dealers are expected to have more than doubled, putting pressure on cash flow. An NFDA survey found that 94% of its members believe the energy crisis will have… Continue reading NFDA calls on government to support dealers in energy crisis
MINI dealers get closer to communities in ‘Big Love Weekend’
MINI dealers across the UK got together last weekend to boost their community credentuials with the first ‘Big Love Weekend.’ Dealer activities included beach cleans and litter picks, to foodbanks and fun runs. Barons Bedford MINI raised over £2,000 for The Fire Fighters charity at its open day. Matthew Wood, brand manager, Barons Bedford MINI… Continue reading MINI dealers get closer to communities in ‘Big Love Weekend’
Dealers suffer ‘reputational damage’ with long new car lead times
Car dealers are suffering reputational damage as a result of the shortage of new cars due to semi-conductor supply constraints. That’s a key finding of a survey conducted by Close Brothers Motor Finance. It found that while two-thirds (66%) of consumers say they understand the difficulties involved, half (48%) say the delays negatively impact their… Continue reading Dealers suffer ‘reputational damage’ with long new car lead times