The New York Stock Exchange (NYSE) has begun the process of de-listing warrants for online car retailer Cazoo as a result of “abnormally low” price levels.
As some carmakers see opportunity in manufacturer refurbishment programmes, a consumer survey has found one in two carbuyers would choose a factory-reconditioned used car over current approved used vehicles.
Stellantis has launched the Fiat Metaverse Store in a bid to recreate a car showroom experience via an “immersive” online car buying experience.
As dealers have fewer opportunities to sell used cars in volume due to the supply constraints and gaps on their forecourts, so the onus must be on sales staff to identify a customer’s pressing needs when they do appear ready to buy.
Armed forces and public sector workers will benefit from a £500 contribution to their next used car as part of a limited-time offer from heycar.
Half of consumers (52%) who bought a car using PCP are expected to refinance them, rather than trade in for a new car at the end of the contract, according to research by NTT Data UK&I.
The growth in the number of drivers considering buying a BEV (Battery Electric Vehicle) as their next car has slowed, according to a new study.
Motorists’ continued appetite for car buying has delivered another 5.1% increase in the value of the average used vehicle advertised for sale on Auto Trader.
Almost 40% of Gen Z car buyers would prefer to transact online, according to new research.
Used car values rose by an average of 2% on eBay Motors Group’s online marketplace as the market’s balance of consumer demand and limited supply continued to defy the UK’s economic gloom.
The Stellantis-owned used car retail business Aramis Group has acquired Cazoo’s Italian operations as the online retailer continues its withdrawal from Europe to focus on cost savings and the UK market.
Mercedes-Benz customers have been advised to buy their next car online or travel up to 110 miles to another dealership after Marshall Motor Group revealed it will stop selling cars at its South Lakes franchise.
Cazoo, the online motor retailer, has reported UK revenues of £347m from Q3 trading, which is a 103% increase versus Q3 2021.
Auto Trader has sold off its Webzone subsidiary, which trades as Carzone in the Republic of Ireland, for 30m euros (approx. £26m).
Franchised dealers who fail to sell cars with service plans are losing one-in-five customers to independent garages for servicing work.
The automotive retail sector’s used car shortages “will stick with us” for some time to come but it is not altogether bad news, Auto Trader commercial director Ian Plummer has told the AM News Show.
Genesis will open its second UK Studio at the landmark Battersea Power Station site in a move that accompanies its shift into electric vehicles (EV).
Used car supermarkets and franchised retailers responded to September’s sector stability to increase the value of their advertised vehicle stock by 1.5% and 1%, respectively.
Car buyers researching their next vehicle purchase on Parkers have gained access to 80,000 used car listings as part of a new partnership with heycar.
Online fraudsters used headshots of a Hollywood actor and a Financial Times reporter to build a car retail website to scam car buyers out of thousands of pounds.
A luxury and premium car retailer suffered an estimated £30,000 loss after a London solicitor exploited distance selling regulations to gain full refunds on two Tesla EVs he had owned for over a year.
A used car retailer has taken to his popular Tiktok account to tell car buyers that they need to scour private car sellers’ adverts on Auto Trader if they want to access the market’s cheapest vehicles.
A trio of directors who previously helped drive Imperial Cars to rapid growth have accelerated the expansion of their Carsa used car retail business with the opening of a new showroom in Bradford.
Cazoo has confirmed that it will retreat from mainland Europe to focus on the UK used car market as part of cost-saving measures expected to deliver net savings of over £100m by end of 2023.
Car subscriptions services are expected to become more popular as living costs increase, causing more consumers look for greater flexibility with their finances.
