Dealer profitability went to reverse in May with the average site turning in losses of £10,000 for the month. The loss negated the gains made in April leaving retailers behind for the overall quarter. According to dealer profitability specialist ASE, a “sizeable cause” of the drop in overall performance was attributable to a hit on… Continue reading Dealers slam into reverse with £10k losses in May
Author: Motor Trader Online News
MG Motor UK adds Cinderford dealership to its network
MG Motor UK has added Cinderford MG in Gloucestershire to its franchise dealer network. The dealership offers customers a full suite of sales and aftersales support thanks to a large showroom with space for up to six new cars, along with a six-car workshop for servicing and maintenance. Cinderford MG’s facilities also include two electric… Continue reading MG Motor UK adds Cinderford dealership to its network
Franchised dealers play ‘key role’ in development of EVs
Franchised dealers have a pivotal role to play to boost sales of electric vehicles. That was the main theme discussed by Stephen Latham, head of operations at the National Franchised Dealers Association (NFDA), at the Renewable Energy Association’s EV Experience conference. Latham analysed current consumer attitudes towards electric cars and the challenges they face. He… Continue reading Franchised dealers play ‘key role’ in development of EVs
Pendragon sells California JLR dealership for £28.2m
Pendragon has sold its Jaguar Land Rover dealership in Mission Viejo, California for £28.2m. The deal, which was flagged up in May, is in line with the group’s strategy of selling off its dealerships in the US. Pendragon said work is ongoing on the sale of other dealerships in the US as part of the… Continue reading Pendragon sells California JLR dealership for £28.2m
Richmond acquires Skoda, Suzuki and Mitsubishi dealerships
Richmond Motor Group has acquired Skoda, Suzuki and Mitsubishi businesses near Southampton for an undisclosed sum. The group has bought Skoda, Suzuki and Mitsubishi in Fareham and a Skoda business in Botley from Sparshatts. The businesses will be rebranded as Richmond. A number of the Sparshatts directors have retained the company name and their non-franchised… Continue reading Richmond acquires Skoda, Suzuki and Mitsubishi dealerships
Hyundai axes plans to develop its flagship dealership in London
Hyundai Motor (UK) has pulled the plug on plans to develop its flagship dealership in Brentford adjacent to the M4. It said it had axed the development to focus on “the improvement of business efficiencies ensuring sustainable growth for the future.” Avison Young and TT&G Partners have been instructed to sell the freehold interest in… Continue reading Hyundai axes plans to develop its flagship dealership in London
MG Motor UK sets implements EV standards across UK dealers
MG Motor UK has rolled out its Hybrid and Electric Vehicle Standards to support its network of dealerships across the UK. The new standards include an overview of hybrid and electric vehicle training, as well as requirements for electric vehicle charging at dealership sites. They are designed to equip MG’s existing sales staff and technicians… Continue reading MG Motor UK sets implements EV standards across UK dealers
Motorway launches new dealer stock acquisition platform
Motorway has today announced the launch of its dealer stock acquisition platform Motorway Pro, as well as an £11m funding round from technology investors. Motorway Pro platform allows consumer sellers to see offers from dealers, alongside instant prices from online car buyers. Dealers can bid for a vehicle submitted by seller over a 24 hour… Continue reading Motorway launches new dealer stock acquisition platform
Dealers struggle to take stock images in good time
One-third of dealers say that time is the biggest issue they face when it comes to getting imagery and listing a vehicle online. Research from Manheim shows that inconsistent image quality and the time taken to prepare the vehicle for photographing are a problem for 78% and 71% of respondents respectively. Manheim found that, on… Continue reading Dealers struggle to take stock images in good time
Lenders tighten their rules and turn away more dealers
Prime lenders appear to be tightening their lending rules says Startline. This comes at a point in time when used car retailers need greater flexibility from their motor finance, as lenders respond to an economy that is “starting to stall”, acco4rding to Startline CEO Paul Burgess. “In many ways, this is to be expected. Motor… Continue reading Lenders tighten their rules and turn away more dealers