Motor Trader Online News – Page 54 – I wish I had more to offer

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

Cambria sells Wimbledon Ford dealership to TrustFord

TrustFord has bought a Ford dealership from Cambria Automobiles in Wimbledon. The factory owned dealer group headed up by CEO Stuart Foulds (pictured) has also taken over the Ford franchise for new car and commercial vehicle customers in the Croydon area. The Wimbledon site was rebranded as TrustFord and is now fully operational with plans… Continue reading Cambria sells Wimbledon Ford dealership to TrustFord

Cazoo sells 25,000th car in 18 months

Cazoo has today reached the milestone of having sold its 25,000th car since its launch less than 18 months ago. Over the past 18 months, Cazoo has expanded its fleet of delivery transporters to over 180 and opened 17 collection centres across the UK. Cazoo announced back in March its plans to list on the… Continue reading Cazoo sells 25,000th car in 18 months

Valsoft Corporation buys ASE Automotive Solutions

Valsoft Corporation has bought ASE Automotive Solutions for an undisclosed sum. For nearly 50 years, ASE has been working with the world’s leading automotive brands and their dealer networks to drive profitability, mitigate business risk and improve operational performance. Rob Jones (CEO), Mike Fazal (CCO) and the global leadership team will continue to lead the… Continue reading Valsoft Corporation buys ASE Automotive Solutions

Used car values see largest increase in 12 years

The used car market is going strong, as cap hpi reports an overall increase of 2% at the 3-year point during April, equivalent to c.£275 per vehicle. This rise is higher than in any month since March 2009. It comes at a time of year when traditionally values tend to drop. However, once the dealerships… Continue reading Used car values see largest increase in 12 years