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
Author: Motor Trader Online News
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
Dealers warned to take seriously the FCA rules on commission
MotoNovo Finance has warned dealers to take seriously the new FCA rules on motor finance that come into effect in January. MotoNovo Finance deputy CEO Karl Werner said there was no place for ‘body swerves or gamification’ that might replicate the soon to be banned dealer discretion on commission rates. All discretionary commission models for… Continue reading Dealers warned to take seriously the FCA rules on commission
Dealers call on government to cut UK business rates
A quarter (25%) of car dealers want to see a reduction in business rates as the UK recovers from the impact of Covid-19 And one in five (19%) want to see current support measures phased out, rather than a hard stop These are the conclusions of new research by Close Brothers Motor Finance. The study,… Continue reading Dealers call on government to cut UK business rates
Administrator sells eight Roanza Mercedes-Benz CV dealerships
Grant Thornton, which was appointed administrator to Roanaza Mercedes-Benz van and truck dealerships this week, has sold parts of the business to Estar. Sarah O’Toole and Jason Bell of Grant Thornton UK LLP in Manchester were appointed joint administrators to Roanza Limited and its subsidiary Premier Vehicle Rental Limited on 8 September. Headquartered in Warrington,… Continue reading Administrator sells eight Roanza Mercedes-Benz CV dealerships
Nissan dealers get ready for new EV green plates
Nissan dealers are preparing for new green plates for electric vehicles (EV). The plates are being brought in especially for electric vehicles and feature a green flash on the left-hand side to highlight the fact that EVs are emission-free. As 70-plate models are introduced at Nissan dealers, trial green numberplates have been fitted to show… Continue reading Nissan dealers get ready for new EV green plates
Dealers face ‘increasing cash strains’ in coming months
Accountancy firm ASE has warned dealers face ‘increasing cash strains” on business through to the close of the first quarter in 2021. ASE chairman Mike Jones told Motor Trader in the August digital issue that dealers with weak balance sheets will come under pressure. “Cash flow is going to be a big issue as we… Continue reading Dealers face ‘increasing cash strains’ in coming months
Dealers discount new cars by 7.7% ahead of plate-change
The average discount on new car prices in August was 7.68% or £3,066, according to new data from What Car? This percentage cut is in line with the performance in August 2019 which saw cash discounts of 7.6% or £2,595. August is traditionally a poor sales month in the lead up to the September plate-change,… Continue reading Dealers discount new cars by 7.7% ahead of plate-change
Auto Trader drives into automated finance with AutoConvert acquisition
Auto Trader is pushing further into providing automated finance for dealers with the purchase of AutoConvert. AutoConvert is a finance, insurance and compliance software platform with integrated customer relationship management solutions. The business helps dealers increase finance penetration and to reduce costs by automating the full customer journey for the automotive sector. AutoConvert’s customers include… Continue reading Auto Trader drives into automated finance with AutoConvert acquisition