Cazoo has said that it cannot guarantee it will “achieve profit at all” in a newly-published document detailing the potential risks and pitfalls of its online car retail and vehicle subcription model.
Buyacar founder Andy Oldham has left his position with the business’s new owner, Autovia, after a new strategic direction brought an end to the platform’s online sale of used cars and motor finance.
Cazoo has revealed that its gross profits and profit-per-unit both declined as its online used car sales soared to deliver record revenues in Q1 2022.
A quarter of in-market car buyers say they are more likely to buy from British brands or choose cars manufactured in Britain to support the automotive sector.
Carwow has attracted an investment from Volvo Cars, which has taken a minority stake of the online car sales marketplace through its venture capital arm, Volvo Cars Tech Fund.
Vehicle supplies, compliance and new mobility are considered the three top challenges facing car retailers in 2022, according to the Startline Motor Finance’s first monthly Used Car Tracker survey.
Data from wholesale and retail used car values data providers has indicated “signs of a market correction” but hopes remain that any market decline will be minor.
As the car retail sector becomes increasing digital-savvy, AM's Debbie Kirlew took a look at six key areas where strides are being made towards a true omnichannel customer journey.
Vertu Motors has declared that its promotion of IT director Bruce Clark into the newly-created role of chief technology officer marks “a further step change in its focus on technology".
The car retail sector is facing a “perfect storm” of economic and political headwinds as UK inflation hits 7% - threatening to dent consumer confidence.
There are now more avenues for car dealerships to sell their vehicles than ever before but has the part-exchange process truly embraced the transparency of a truly omnichannel customer journey?
The UK’s cost of living crisis and the impact of Russia’s war in Ukraine threaten the used car market’s shift towards stability, eBay Motors’ Dermot Kelleher has suggested.
Citroen’s cheapest new model is now the C3 YOU!, but buyers will only be able to purchase the new £12,995 hatchback online.
Automotive retailers were obliged to accelerate their omnichannel retail plans in response to the COVID-19 pandemic, but another by-product of this development has been the demise of the haggle.
Cazoo reported seeing a “clear path for significant Retail GPU improvement” from its online used car sales after reporting a £550 million loss in 2021.
A BBC Watchdog investigation has called into question online car retailer Cazoo’s 300-point check on all its vehicles after failing to uncover documentary evidence of such scrutiny being carried out.
Genesis UK has expanded its home test drive programme to offer nationwide coverage for customers looking to experience a Genesis car ahead of purchase.
Owners of hybrid cars account for almost half of all searches for electric vehicles (EVs), according to automotive ecommerce business drivvn.
Growing concerns about the automotive supply chain, a potential energy crisis and consumer confidence crash are feeding fears about the impact of the Ukraine-Russia war on UK car retail.
Evolution Funding has partnered with Codeweavers to help dealers deliver a ‘more streamlined’ finance journey to customers.
A leasing business has analysed pricing data and found that driving a battery electric car on a lease is cheaper than funding the EV on PCP (personal contract purchase).
Auto Trader has reported that used cars are selling at record speeds, despite a continuation of year-on-year value increases.
Polestar is catching up with Tesla in a global ranking of car makers’ online sales performances.
Subscription models could help new car buyers who are hesitant about electric vehicles (EV) make the switch, according to the latest research by What Car?.
Car retailers driving towards an omnichannel sales journey could be subject to a double-whammy of “complex” new taxation, it has been suggested.
