Used vehicle retailing - Page 32

Used car inventory levels grew by 4.7% in September, but the improved supply did nothing to stem price growth.

A used car dealership’s sales manager claimed he stole up to £30,000 from his employer to “make ends meet” after his family expanded with the arrival of quadruplets.

The Motorpoint used car supermarket group has revealed turnover growth of 57% and pre-tax profits up 30% in a trading update for the first half of 2021.

Pendragon has followed fellow car retail PLCs Marshall and Lookers into issuing an upgrade to its 2021 profit expectations after a “strong” Q3 performance.

The Hyundai i30 and Mitsubishi Shogun have been listed among Auto Trader’s ranking of the used cars that delivered the biggest retail value increases in September.

Almost two thirds of used car buyers expect to buy a used car in a showroom and talk to dealers face-to-face, a new study has found.

Competition for used car stock continued to grow as used car retail values rose 21.4% in September to reach a new record high after 18 consecutive months of appreciation.

Aston Barclay achieved its strongest ever conversion rates in September, along with record prices.

Hendy Group’s breadth of initiatives and innovations across used car retail secured its win in the Best Used Car Dealer Group category at the AM Awards 2021.

Big Motoring World has kick-started an growth plans with the acquisition of Peterborough-based used car supermarket group SW Car Supermarket.

Cazoo has appointed former eBay and mobile.de executive Abhishek Roy as its European managing director ahead of its planned expansion into France and Germany.

Pendragon is preparing to launch a fresh used car proposition under the brand ZenCar by the end of this year.

Record used car value increases in September have been hailed as a “black swan event” by Cap HPI, with head of valuations Derren Martin describing the seventh consecutive month of rising prices as “extraordinary”.

Motorpoint has said that a “heavyweight media campaign”, customer prizes and gift giveaways are set to drive footfall into its new Manchester used car supermarket.

The UK’s weekend fuel frenzy sparked a 61% rise in car buying interest in electric vehicles (EV) on Auto Trader and a 59% spike on carwow.

More than 20 dealer groups, operating 740 showrooms, are making use of Cox Automotive’s eVA Valuations and Appraisals tool.

Used diesel cars are in rising demand as commuters opt for fuel-efficient cars to replace public transport in light of the COVID-19 pandemic, research from heycar has found.

The Kia Sportage has re-established its dominance as the AM readers’ Used Car of the Year.

Technical issues arising after a platform update left car dealers reliant on Auto Trader Market Insight view of their advertisements’ performance in the dark for more than two days.

Used car values are likely to rise to “another new level that once didn’t seem possible” according to BCA chief operating officer Stuart Pearson.

Marshall Motor Group’s Mercedes-Benz Southampton dealership impressed AM Awards 2021 judges after its workforce improved its performance despite the challenges posed by COVID-19.  

Aston Barclay has enhanced its digital platform to enable finance houses to repatriate used cars back into franchised dealer networks.

A range of eight remarketing modules for motor finance, vehicle leasing, and major fleets has been launched by Epyx.

The National Association of Motor Auctions (NAMA) has appointed Fleet Auction Group (FLAG) chief executive Andrew Walker as its new chairman.

Cashflow is quickly becoming king as larger car dealers and used car supermarkets pay well above market valuations to secure used car stock, according to Shoreham Vehicle Auctions (SVA) managing director Alex Wright.