Marshall has posted an underlying profit before tax of £96.2m, up from £20.9m (31 December 2020). In the 15 months to 31 March 2022, the company saw revenue grow to £3.8bln from £1.6bln (2020), in a period that was extended because of its takeover and de-listing from the London Stock Exchange. Marshall said that “unprecedented… Continue reading Marshall posts £96.2m PBT in first results since takeover
Author: Motor Trader Online News
Final call for dealers to attend EV Retail Summit, Birmingham, Thursday 6 October
Dealers are lining up for the EV Retailing Summit taking place at the Eastside Rooms, Birmingham tomorrow. Vertu, Inchcape, Allen Ford and Perrys are among the dealer groups taking part in the event, which is free to attend for dealers. In the session on motor finance and EVs Andy Muir, head of sales at Mann… Continue reading Final call for dealers to attend EV Retail Summit, Birmingham, Thursday 6 October
Dealers can provide more advice to customers on electric alternatives
Dealers have an opportunity to provide advice to customers choosing to stay with ICE rather than consider electric alternatives. JudgeService has identified a mix of stoicism and indecision among some car buyers when it comes to taking practical steps to mitigate the cost of living crisis. When asked whether pump prices, which spiralled to record… Continue reading Dealers can provide more advice to customers on electric alternatives
BLOG: HMRC email targets motor dealers and SAOs
In an unusual move, HMRC have directly targeted motor dealers with an educational email and video aimed at reducing the frequent VAT errors discovered on VAT inspections. Many businesses have been left much to their own devices while HMRC have been distracted by the twin challenges of Brexit and COVID, VAT enquiries at motor retailers… Continue reading BLOG: HMRC email targets motor dealers and SAOs
CitNOW expands dealer offer with Auto Imaging acquisition
Supplier of digital video services to the motor sector CitNOW Group has bought Auto Imaging for an undisclosed sum. Auto Imaging is a supplier of digital solutions for the UK motor industry, enabling dealers to capture more consistent vehicle imagery, provide immediate quality control of imagery, automated stock video, and accelerate their deployment within online… Continue reading CitNOW expands dealer offer with Auto Imaging acquisition
Dealers receive government energy support package
The motor sector has welcomed government moves to help businesses with rising energy bills. The Business Secretary Jacob Rees-Mogg today unveiled a new government Energy Bill Relief Scheme. The government will provide a discount on wholesale gas and electricity prices for all non-domestic customers whose current gas and electricity prices have been significantly inflated in… Continue reading Dealers receive government energy support package
Average used car values fall in August at BCA
Average monthly used car values at BCA slipped back in August 2022. This was principally driven by a changing model mix through the online auction channel. Values averaged £8,954 across the board at BCA in August, down from £9,464 the previous month, with performance against guide values down marginally on July at 97.3%. Encouragingly, sold… Continue reading Average used car values fall in August at BCA
Rising costs likely to harm H2 profitability, says Vertu
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
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