Riverside Motors buys Harratts Honda dealership in Wakefield

Yorkshire based Riverside Motor Group has acquired Harratts Group’s Honda site at Calder Park Wakefield for an undisclosed sum. The deal includes Harratts’ Honda dealership and assets at Calder Park, its Kia showroom, and a lease of premises at Darton, Barnsley for a period of 10 years. Riverside will represent Honda for Wakefield and Barnsley… Continue reading Riverside Motors buys Harratts Honda dealership in Wakefield

Dealers deliver record used car profits with rising prices

The average retailer delivering a bumper profit of over £60,000 in May, traditionally a weak month. The used car market continued to deliver record profitability levels. Margins remain very strong, with increased purchases prices being successfully passed on to the customer, according to dealer profitability specialist ASE. “As yet there is no sign of this… Continue reading Dealers deliver record used car profits with rising prices

DM Keith acquires Ringways Motor Group

Yorkshire-based DM Keith has acquired Ringways Motor Group for an undisclosed sum. DM Keith, which currently represents Skoda, Seat Cupra and Honda, is rated 93 in the Motor Trader Top 200 Dealer Groups with annual turnover of £149.9m. Ringways Motor Group is rated 134 in the Top 200 with annual turnover of £84.5m. It is… Continue reading DM Keith acquires Ringways Motor Group

carwow acquires car selling platform Wizzle

carwow has announced the acquisition of used car buying platform, Wizzle. Wizzle is the brainchild of Sébastien Duval who first set about building an app to help car dealers appraise and value used cars that had been driven onto used car forecourts. Wizzle now has more than 2,000 dealers using the platform who are buying… Continue reading carwow acquires car selling platform Wizzle

Threat of further lockdowns is biggest concern for dealers

The recovery from Covid-19 is the main concern for car dealers when thinking about the future of their business, according to new research from Close Brothers Motor Finance. Over a third (35%) of dealers surveyed in the Dealer Satisfaction Survey said that Covid-19 recovery and the potential for future lockdowns poses the biggest threat to… Continue reading Threat of further lockdowns is biggest concern for dealers

Used cars drive dealers to 1.35% return on sales in April

Profitable used car sales helped the average dealer deliver a return on sales of 1.35% in April. Dealer profitability specialist ASE said that despite months under lockdown strong profits from used car sales allied to cost cutting and use of government help schemes had driven the performance. Used car return on investment has risen to… Continue reading Used cars drive dealers to 1.35% return on sales in April

Dealers see ‘acceleration’ in used car prices

Used car prices on forecourts rose for the 14th consecutive month in May, driven by the growing imbalance of supply and demand in the market. According to the latest results from the Auto Trader Retail Price Index, which is based on daily pricing analysis of circa 900,000 vehicles, the average price of a used car… Continue reading Dealers see ‘acceleration’ in used car prices

Stoneacre acquires RMB Motor Group

Stoneacre Motor Group has acquired the RMB Motor Group for an undisclosed sum. RMB represents Toyota and Lexus at Stockton on Tees; Toyota, Renault and Dacia at Northallerton; and Toyota, Renault and Dacia at Darlington. It also has an Autoparc used car centre at Yarm together with a body repair centre. RMB was created in… Continue reading Stoneacre acquires RMB Motor Group

MotoRate boosts acceptance levels for dealers, says MotoNovo

MotoNovo Finance claims that its MotoRate platform is working well for dealers. Four months since its launch, MotoRate has seen a 16% higher acceptance levels for proposals, compared to a traditional pricing model It so saw 55% growth in payouts for ‘A1’ high quality applicants, versus a decline of (2%) for dealers adopting a traditional… Continue reading MotoRate boosts acceptance levels for dealers, says MotoNovo

Motorpoint sells first car through clean air scheme

Motorpoint has sold its first vehicle through the Clean Air Zone Vehicle Scrappage and Travel Scheme. The UK’s largest independent car retailer, which has branches in Aston and Oldbury, was recently selected by Birmingham City Council to help deliver the £10m Clean Air Zone Vehicle Scrappage and Travel Scheme.  Under the scheme, which went live… Continue reading Motorpoint sells first car through clean air scheme