Dealers and pundits have given a mixed response to car sales figures in June which fell 35%. Mike Jones, chairman of dealer accountancy form ASE said the momentum was building with a strong performance in used car sales. “The retail drop, at 19%, shows that customer demand was strong, with fleets and leasing companies taking… Continue reading Strong used car sales offer dealers support in tough trading
Author: Motor Trader Online News
Pentagon shuts Alfa and Jeep dealership in Doncaster
Pentagon Motor Group has closed its Alfa Romeo and Jeep Dealership at Wheatley Hall Road in Doncaster. The group said it had been impacted by the pandemic and the site was not viable in the current market. Pentagon Motor Group was established in March 1991 with one Vauxhall dealership at in Derby. Today, the business… Continue reading Pentagon shuts Alfa and Jeep dealership in Doncaster
Lipscomb Cars to open Volvo dealership on Canterbury
Lipscomb Cars is set to open a new Volvo dealership in Canterbury following the lift of the Coronavirus restrictions. The dealership had been set to open in March, but delays with a permanent mains electric power connection caused final works to cancelled by the network provider as non-essential. With the lifting of work restrictions, a… Continue reading Lipscomb Cars to open Volvo dealership on Canterbury
Lookers to cut 1,500 jobs and close 12 dealerships
Lookers has announced that it will close 12 dealerships and make 1,500 redundancies. This is part of a restructuring plan to deliver annual savings of approximately £50m. It is estimated that the restructure will be completed in the second half of 2020. Following these closures the Group will operate from a portfolio of 136 dealerships. It also announced… Continue reading Lookers to cut 1,500 jobs and close 12 dealerships
Brayleys buys Romford Honda from Glyn Hopkin
Brayleys has bought Romford Honda from Glyn Hopkin for an undisclosed sum. The Hertfordshire-based group now has eight Honda showrooms and nine aftersales outlets. The Romford business joins Brayley Honda dealerships in Enfield, St Albans, Hemel Hempstead, Ruislip, Thames Ditton, Ewell and Leatherhead and a stand-alone aftersales facility in Grays, Essex. Brayleys also represents Kia,… Continue reading Brayleys buys Romford Honda from Glyn Hopkin
Vertu looks to expand through acquisitions and consolidation
Vertu Motors looking to come out of the pandemic and take advantage of the acquisition opportunities likely to arise in the months ahead. During the year it added 12 sales outlets and three new franchises. The group delivered pre-tax profits down 71% to £7.3m on turnover up 2.8% to £3.1bn in the year to 29… Continue reading Vertu looks to expand through acquisitions and consolidation
Dealers advised to review property requirements
Dealers are being advised to review their property requirements following the impact of COVID-19. . Lower sales may mean fewer dealerships are required while social distancing and increased online sales will change the use of space. John Roberts, head of automotive and roadside at Colliers International, said dealers with leasehold dealerships need to be talking… Continue reading Dealers advised to review property requirements
Dealers see spike in enquiries prior to opening today
Dealers saw a spike in levels of digital enquiries for new and used cars in late May Digital enquiries into dealers across the UK during May were 16.5% behind 2019 levels. It marked a significant improvement from April, which saw a drop of 61.5% on 2019, according to lead management company Dealerweb. James Hill, managing… Continue reading Dealers see spike in enquiries prior to opening today
Dealership closures cost Treasury £61m a day, SMMT reveals
The UK automotive industry is today calling on government to allow new car showrooms to reopen as a matter of urgency, as the SMMT reveals the £61m daily cost to the Treasury of keeping dealerships closed. The annual tax-take from VAT, VED and other taxes on new car sales to private buyers alone amounts to… Continue reading Dealership closures cost Treasury £61m a day, SMMT reveals
Dealers to source more cars online as lockdown eases
Dealers are set to see a “paradigm shift” in remarketing as more cars are sold online instead at physical auctions. That’s the view of online remarketing firm ADESA UK which said it was receiving “high levels” of enquiries from finance and leasing companies drawing up strategies to enable them to defleet the high volume of… Continue reading Dealers to source more cars online as lockdown eases