MotoNovo Finance is encouraging all senior leaders within dealerships to access whether they are ready for the introduction of the Senior Managers & Certification Regime (SM&CR). SM&CR aims to increase the personal accountability of everyone working in financial services but particularly those in senior roles, including motor dealers offering finance. All dealers offering finance must… Continue reading Dealers should prepare ahead of SM&CR introduction
Author: Motor Trader Online News
Dealers urged to stay focused on used cars in September
Dealers should maintain a focus on used cars during the September plate change as searches for part-exchange values increase in the preceding weeks. Data from Honchō shows that in both August and September there was a 57% rise in searches for the term “part-exchange” since 2015. It also advises dealers to retain some of their… Continue reading Dealers urged to stay focused on used cars in September
Dealers deliver ‘marginal’ improvement in profits for July
Dealers’ used car performance remains “key” following a marginal improvement in profits for July, according to dealer profitability specialist ASE. Last year dealers saw losses of £1,600 for July but July 2019 saw a swing of just under £2,000 to bring dealers into profit. “The profitability improvement was once again driving by the contribution from… Continue reading Dealers deliver ‘marginal’ improvement in profits for July
MG Motor UK appoints Crewe dealership to its dealer network
MG Motor UK has added Crewe-based dealership Grenson Motor Co. to its dealer network. With a history dating back over 40 years, Grenson Motor Co. is a well-established franchised dealership with a wealth of experience in the industry. Sean Pattinson, sales director at Grenson Motor Co., said: “Although we had no previous history with MG,… Continue reading MG Motor UK appoints Crewe dealership to its dealer network
Isuzu Europe and UK managing directors open two NI dealerships
Northern Ireland Isuzu dealers John Barr Cars and Eakin Bros have been officially opened by Isuzu managing directors. This is the first time that NI Isuzu dealers have had a visit from the Japanese managing director and underlines the importance placed by Isuzu in growing representation for the brand through substantial investments in first class… Continue reading Isuzu Europe and UK managing directors open two NI dealerships
Dealers see 5% uplift in volumes of cars for servicing
Dealerships have reported a boost in aftersales activity in the first half of 2019. The average dealership saw a 5% year-on-year increase in the number of vehicles presented at its service department between January and June, with the figure rising from 1,570 to 1,649 vehicles, according to data from electronic vehicle health check provider autoVHC.… Continue reading Dealers see 5% uplift in volumes of cars for servicing
Dealers help fleet managers promote EVs through ‘try before you buy’
Dealers are making it easier for fleet managers to promote the use of EVs in their fleets by offering ‘try before you buy’ options. In a recent Venson survey, only 13% of motorists cited lack of ‘try before you buy’ options as an obstacle to purchase and only 5% of people surveyed said they are… Continue reading Dealers help fleet managers promote EVs through ‘try before you buy’
Pendragon to sell California Chevrolet dealership for £17.2m
Pendragon has announced that it will be disposing of its trade and assets of its Chevrolet motor vehicle dealership located in Puente Hills, California. Scott Biehl, the operator of a privately owned dealership group, will purchase the site for approximately £17.2m. Pendragon has said that the transaction is in line with its stated strategy of… Continue reading Pendragon to sell California Chevrolet dealership for £17.2m
Dealers remain positive for Q3 following lacklustre July
Dealers have reported signs of a positive start to Q3, following the the -4.1% decline in new car registrations in July. It was the fifth consecutive month of decline for the sector and the worst July sales performance for seven years. Cox Automotive’s July Market Insight reported a 40% increase in online activity and 60% improved… Continue reading Dealers remain positive for Q3 following lacklustre July
Dealers’ overage stock declines as days in stock increases
Overage stock is on the decline, with 83% of dealer reporting a fall in overage used cars as a result of supply and taxation deals. Data from Cox Automotive shows stock has started to return to the wholesale sector, with 43% citing a decline in consumer demand. Days in stock have also increased by 40%.… Continue reading Dealers’ overage stock declines as days in stock increases