The average UK motor retailer delivered record profits of £110,000 in the September plate change month Used cars were particularly strong performance has been the real shining star since the lockdown was lifted and this continued during the month of September. “Return on investment continued to climb and the overall return for the month of… Continue reading Used cars help dealers make £110k profit in September
Author: Motor Trader Online News
Citygate Automotive acquires Škoda outlet from Lookers
Citygate Automotive has added its third Škoda outlet with the acquisition of the West London franchise from Lookers, for an undisclosed sum. This follows the group’s recent acquisitions of West London Volkswagen and Twickenham Volkswagen earlier this year. Employing over 650 staff, the company’s latest purchase increases its portfolio to 14 dealerships across London and… Continue reading Citygate Automotive acquires Škoda outlet from Lookers
The impact on dealers of the UK’s exit from the EU
As Brexit talk deadlines extend, the position of the UK Motor sector remains a cause for concern. At OEM level the prospect of a 10% tariff on cars moving in and out of the UK from the EU now seems increasingly inevitable. We know that manufacturers have differing approaches to the issue with Ford having… Continue reading The impact on dealers of the UK’s exit from the EU
Used car values break new records with limited supplies
Prices of used petrol and diesel reached record highs with demand continuing to exceed supply. Petrol and diesel used car prices rose to record highs in Q3, while EVs and hybrids stabilised as the industry started to settle down to its new normal according to online used car trader Autorola UK. Petrol prices rose by… Continue reading Used car values break new records with limited supplies
Kia presents awards to dealers for strong sales results post-lockdown
Kia Motors (UK) Limited has awarded 34 dealers across its 187-strong network for their outstanding performance since reopening. The ‘President’s Acceleration Award’ was presented to those Kia dealers who went above and beyond to rapidly rebuild their businesses and help Kia achieve record sales results in the last three months. The award has been presented to… Continue reading Kia presents awards to dealers for strong sales results post-lockdown
Used cars help dealers deliver £14k profit in August
The average UK motor retailer turned in a profit of £14,000 in August, building on the strong performance in July. This represents a £28,000 swing on the prior year result, with August traditionally producing a significant loss, being impacted by holidays and the impending plate-change month of September. “The £14,000 profit generated in what is… Continue reading Used cars help dealers deliver £14k profit in August
Vertu acquires Nottingham Kia dealership
Vertu Motors has acquired the Kia Nottingham dealership from Sandicliffe. The transaction will bring the number of outlets operated by the Group in Nottingham to nine. Kia in Nottingham expands Vertu Motors’ representation in the city, adding to the already established Renault, Dacia, Honda Bikes, Citroen, Hyundai, Honda, and two Volkswagen outlets. It becomes the… Continue reading Vertu acquires Nottingham Kia dealership
Dealers hit by lack of availability of new and used cars
Dealer shave been hit by a lack of availability in both the new and used car markets. According to Philip Nothard, customer insight & strategy director for Cox Automotive UK, many dealers reporting strong demand ran out of cars. “Demand for new cars in September started strong but ended-up behind last year’s performance in the… Continue reading Dealers hit by lack of availability of new and used cars
More dealers use overdraft facilities to fund stock
The number of dealers using overdraft facilities to stock forecourts has more than doubled over the past two years. In October 2018 just 9% of dealers used an overdraft for wholesale funding and this more than doubled to 22% in October this year according to new research from Next Gear Capital., One in four dealers… Continue reading More dealers use overdraft facilities to fund stock
Dealers boosted by used car sales and aftersales in September
Dealers are experiencing a boost in aftersales and used car sales in early September as customers return to the market. That is the finding of the latest post-lockdown survey from the National Franchised Dealers Association (NFDA). It revealed that 72% of franchised dealers have seen an increase in online and phone bookings for service departments… Continue reading Dealers boosted by used car sales and aftersales in September