The average price of a used car recorded an annual increase of 4% in November, which marks the lowest increase since August 2017. Year-on-year (YoY) growth reached a peak of 7% in June this year but has been slowing each subsequent month. It reflects a similar trend seen across the fuel types, with diesel reaching… Continue reading Used car values at record high but rate of growth slows
Author: Motor Trader Online News
Dealers ‘miss out’ on £17m of service revenue claims VHC firm
The UK’s franchised dealers have missed out on more than £17m worth of service revenue in the final months of 2018. Data from electronic vehicle health check provider autoVHC has highlighted a sharp drop in the percentage of completed health checks during October and November of this year. According to autoVHC, the average dealership completed… Continue reading Dealers ‘miss out’ on £17m of service revenue claims VHC firm
Arnold Clark gears up to open Aberdeen dealership
Arnold Clark is pushing ahead with plans to open a car dealership on a former supermarket site in Aberdeen. The Evening Express reports that it aims to turn an ex-supermarket site in Aberdeen into a car dealership. Proposals to turn the Lidl site on Torry’s Wellington Road into an Arnold Clark Volvo showroom were approved… Continue reading Arnold Clark gears up to open Aberdeen dealership
Dealers see surge in used car finance
Dealers saw used car finance grow at 15.4% in November against the same month last year. The strong growth in used car finance supported a leap in used sales of 12.3%. The trend is in marked contrast to the new sector, which saw sales decline 1.1%, according to data from showroom specialist Dealerweb . New… Continue reading Dealers see surge in used car finance
TrustFord network review continues with sale of three dealerships
TrustFord has disposed of three dealerships to Pentagon as part of its ongoing review of its property portfolio. The Ford businesses at Warrington, St Helens and Runcorn will be rebranded as Pentagon Ford. The Pentagon deal follows the disposal in January of four dealerships in London to Gates. Stuart Foulds, chairman and CEO of TrustFord,… Continue reading TrustFord network review continues with sale of three dealerships
Kia dealer network sees 5% rise in profitability
These are good times at Kia. Against a downward curve of new car registrations so far this year, year-on-year lower by 7.5% across the industry over the first nine months, Kia is one of very few to have managed an increase. It has bucked the trend with sales up by 2.8%. While WLTP and other… Continue reading Kia dealer network sees 5% rise in profitability
Stoneacre acquires three more Mill Garage sites
The Stoneacre Group has followed up its takeover of Mill Garages’ Sunderland site by acquiring three further outlets in Harrogate, Newcastle and Stockton. The deal sees Stoneacre adding to its portfolio of Volvo outlets. It now oversees 8 sites. “Everyone at Mill Garages is delighted to have joined forces with the fantastic Stoneacre brand,” said… Continue reading Stoneacre acquires three more Mill Garage sites
Dealers profits plummet 26% in September due to WLTP shortages
Dealers saw overall profits for the average site fall 26% in September to around £57,000 compared to £77,000 average profitability in September last year. September is usually the second most profitable month of the year, however 2018 results were hit by the supply shortages caused by WLTP. Overall profits for the month were down by… Continue reading Dealers profits plummet 26% in September due to WLTP shortages
Vindis refurbishes Volkswagen dealership in Cambridge
East Anglia dealer group Vindis has refurbished its Cambridge Volkswagen dealership. The family-owned motor dealer group represents Audi, Volkswagen, Bentley, Ducati, Skoda, Seat and Volkswagen commercial vehicles. Mark Hudson, VW Brand Director at Vindis, said: “We’re delighted to be launching the newly refurbished Cambridge VW as part of Vindis’ ongoing programme of development and customer… Continue reading Vindis refurbishes Volkswagen dealership in Cambridge
Dealers buy lower grade vehicles at auction to counter shortages
Dealers are buying lower grade used car stock at auction because of stock shortages and high demand for the best vehicles. That’s the view of the Vehicle Remarketing Association (VRA), which said dealers who would normally only acquire grade one or two cars were settling for grade three vehicles and then spending money on refurbishment.… Continue reading Dealers buy lower grade vehicles at auction to counter shortages