Dealers must prepare for an automotive industry that will be “unrecognisable in the coming decade”. The fourth annual Cox Automotive and Grant Thornton Automotive Insight Report highlighted the impact of electrification; digital transformation; and the possibility of the manufacturer agency model. It suggests dealers will need to rethink consumer engagement and revenue streams to remain… Continue reading Dealers advised to prepare for EV transition in changing industry
Author: Motor Trader Online News
Marshall acquires Motorline for £64.5m adding 48 dealerships
Marshall Motor Holdings has acquired the entire issued share capital of Motorline Holdings Limited (including all of its subsidiaries), for a cash consideration of £64.5m funded from the Group’s existing cash resources. The net assets on acquisition include c.£20m of cash and c.£10m of debt. The Group has also separately acquired a related freehold property… Continue reading Marshall acquires Motorline for £64.5m adding 48 dealerships
Cazoo buys SMH Fleet Solutions for £70m
Cazoo has bought SMH Fleet Solutions, a vehicle preparation, logistics and storage businesses, for £70m SMH turned in pre tax profits of £1.79m on turnover of £40.07m in 2019. It employees 300 staff and processes 70,000 vehicles a year from six vehicle preparation sites across 136 acres in Bedford, Gloucester, Throckmorton, Worcester and St Helens.… Continue reading Cazoo buys SMH Fleet Solutions for £70m
Cambria to stop trading on stock market as buyout accepted
Cambria will stop trading on the stock market by 13 October. This comes as the acceptance condition of its buyout by CEO Mark Lavery was met, with Bidco (led by Lavery) holding more than 75% of Cambria’s voting rights. The business will be re-registered as a private company. The deadline for the management buyout of… Continue reading Cambria to stop trading on stock market as buyout accepted
ASE reports dealer profitability surging to £65,000 in July
July 2021 was a strong performing month, marking the end of lockdown one and the release of significant pent-up demand. Retailers improved profitability by nearly £14,000 to £65,000 for the month during July 2021. This pushed rolling 12-month average Return on Sales up further to 2.17% “Phenomenally strong used car performance continued to be the… Continue reading ASE reports dealer profitability surging to £65,000 in July
Used car values are still on the up after six continual monthly increases
Used car values have continued their “unparalleled” shift upwards. cap hpi’s daily produced Live trade values reported an overall increase of 3.7% at the three-year point during the month of August, equivalent to almost £500 per car. This also comes off the back of value increases since car showrooms reopened in April. Values have now… Continue reading Used car values are still on the up after six continual monthly increases
Cazoo acquires vehicle data firm Cazana for £25m
Cazoo has acquired vehicle data insight firm Cazana for £25m cash. Cazana’s products include real-time vehicle valuation, pricing and stock management tools. Cazoo said the deal will enhance its data capabilities and help it optimise its car buying and pricing across the UK and Europe. Cazana’s subsidiary Car & Classic did not form part of… Continue reading Cazoo acquires vehicle data firm Cazana for £25m
Stock shortages are ‘biggest worry’ for dealers in year ahead
Stock shortages emerge as the biggest worry for dealers in the year ahead as a result of the pandemic and shortage of semi-conductors in production. That’s the key finding of the Dealer Satisfaction Survey from Closer Brothers Motor Finance which found that almost a third (31%) of motor dealers see the lack of stock availability… Continue reading Stock shortages are ‘biggest worry’ for dealers in year ahead
Dealers see record prices for used cars in August
Exceptionally strong consumer demand in the market is continuing to fuel record price growth. That’s the view of Auto Trader which said used car prices rose 15.2% year-on-year on a like-for-like basis last week. Last week, it took an average of 26 days for stock to leave forecourts, which is a 10% drop on the… Continue reading Dealers see record prices for used cars in August
Vertu Motors acquires vehicle lighting businesses
The Vertu Motors group has acquired vehicle lighting businesses Powerbulbs and Car Bulbs Direct. It will join its existing online car parts retailer, Aceparts. The Group has purchased the businesses, including the websites powerbulbs.com and carbulbsdirect.com, from Network Brands Limited for £480,000. The move has initially created four new jobs within the Aceparts business, with more expected.… Continue reading Vertu Motors acquires vehicle lighting businesses