Dealers are bidding on cheaper lower grade used cars at physical rather than online auctions. According to Shoreham Vehicle Auctions (SVA) the buoyant used market is forcing dealers to buy lower price NAMA grade 3, 4 and 5 cars with a view to refurbishing or reconditioning them. Smaller independent used cars dealers often run their… Continue reading Demand forces dealers to pick up lower grade used cars
Author: Motor Trader Online News
Cazoo acquires Spanish digital subscription company Swipcar for €30m
Cazoo has acquired Swipcar. Founded in 2018, Swipcar has grown to a team of around 100 staff based in Barcelona and offers a wide selection of cars available from various leasing company partners for an all-inclusive single monthly subscription payment which includes the car, insurance, maintenance, service and tax. As well as operating in Spain,… Continue reading Cazoo acquires Spanish digital subscription company Swipcar for €30m
Isuzu dealers to provide free safety check ahead of winter weather
Isuzu UK has launched a new Quick Check programme that will see Isuzu dealers carry out comprehensive safety check at no cost. The Isuzu Quick Check is a full 38-point check to ensure the customer’s vehicle is safe and ready for the upcoming winter weather. The Quick Check covers every aspect of the safety and… Continue reading Isuzu dealers to provide free safety check ahead of winter weather
Dealers could be missing out on revenue by mispricing stock
Dealerships could be leaving revenue on the table by mispricing as much as of three-fifths of their stock. According to digitalisation specialist Real Time Communications (RTC), in collaboration with Auto Trader, the average retailer misprices approximately 60% of their vehicle stock, compared against national figures. This stock tended to be under-priced by £300-£350 per vehicle. For… Continue reading Dealers could be missing out on revenue by mispricing stock
Snows Group acquires Hamble Motors Peugeot dealership
Snows Group has acquired Hamble Motors Peugeot dealership south east of Southampton for an undisclosed sum. This is its sixth Peugeot dealership. It currently represents Peugeot in Basingstoke, Chichester, Newbury, Portsmouth and now Southampton. Snows is ranked 43 in the Motor Trader Top 200 Dealer Groups with annual turnover of £414.4m. Neil McCue, chief operating… Continue reading Snows Group acquires Hamble Motors Peugeot dealership
Preparing for an autonomous future: Are dealers ready
The automotive sector is embarking on one of the biggest developments in its history as the internal combustion engine is phased out in favour of alternative drive trains. But the rollout of EVs is just the start of a period of change that will also see autonomous vehicles becoming more commonplace. The complexity of these… Continue reading Preparing for an autonomous future: Are dealers ready
Dealers advised to prepare for EV transition in changing industry
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
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