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
Author: Motor Trader Online News
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
Smaller dealers with ‘wrong brands’ face tough H2
Smaller dealers with the ‘wrong’ brands look set to bear the brunt of the semi-conductor crisis in the second half. That’s the view of Steve Young, managing director of ICDP, who said that larger dealer groups will fare better across a range of brands. The SMMT new car sales figures for July reveal the winners… Continue reading Smaller dealers with ‘wrong brands’ face tough H2
Dealers see surge in part-exchange vehicles
It’s boom time for motorists right now, with the value of their cars continuing to rise alongside the number of used car sales increasing by 6.6% on pre-pandemic levels as revealed by the SMMT. Our data shows that between the first and second quarters of 2021, the average price of used cars shot up by… Continue reading Dealers see surge in part-exchange vehicles
Volkswagen’s new SUV coupé ID.5 GTX to hit dealers next year
Volkswagen is set to introduce its SUV coupé ID.5 GTX as a disguised concept at the IAA Munich Motor Show. The first SUV coupé based on the Modular Electric Drive Matrix (MEB), the ID.5 GTX is fully connected, can receive updates over-the-air and is fitted with Car2X technology. The ID.5 GTX is the first all-electric… Continue reading Volkswagen’s new SUV coupé ID.5 GTX to hit dealers next year
Dealers turn in £100k profits in June to round off record H1
June saw the average UK motor retailer make profits of over £100,000 to round off a record performance for the first half of the year. The June figure is in stark contrast to the losses recorded in the H1 2020 of £55,000, according to dealer profitability specialist ASE. “This marks the end of a phenomenally… Continue reading Dealers turn in £100k profits in June to round off record H1