The UK’s used car sector would be “a bloodbath” for dealers without the high values and strong margins maintained as a result of 2022’s supply shortages, Cap HPI’s Derren Martin has suggested.
Inchcape has expanded its used car retail division with the opening of new stores in Stoke-on-Trent and Guildford.
Cazoo has kicked-off its plan to cut its marketing costs as part of its bid to save £200 million per year with the loss of its high-profile Premier League shirt sponsorship deal with Everton FC.
Auto Trader has urged car retailers not to “jump to rash conclusions about the health of the market” after car price rises eased in May with the prospect of tough times ahead for car buying consumers.
A Scottish Football sponsorship feud involving Rangers Football Club, Parks Motor Group and cinch may have boosted the online car retailers profile, a YouGov poll suggests.
Carzam founder Peter Waddell has blamed the faltering performance of online-only car retail businesses including Cazoo for the venture’s failure.
Carwow has seen a 113% increase in the proportion of consumers who place a formal enquiry for a used car after initially searching on the platform for a new car.
The Trade Centre Group has expanded into a seventh used car supermarket site after delivering record profitability in its 2021 annual financial results.
Car retailers eager to ensure their forecourts are stocked with the best used cars in a market currently starved of vehicle supply are being urged to sign-up to today’s free AM webinar.
Big Motoring World founder Peter Waddell is experiencing his “proud dad moment” as his son, Jack, prepares to open his new car showroom this weekend.
Used car retailers have experienced a May sector “down on hopes and expectations” with average values down by 0.7% as a result, Cap HPI has reported.
Cinch is set to become Crystal Palace’s official shirt sponsor for the 2022/23 Premier League football season as part of a multi-year contract.
Auto Trader has revealed revenues up by 65% and pre-tax profit growth of 91% in a set of 2021/2022 annual financial results published this morning.
Auto Trader has entered a new partnership with Haymarket Automotive to power the used car pages on its Autocar and What Car? websites.
Used Electric Vehicles (EVs) are selling as quickly as petrol and diesel cars for the first time, according to Indicata.
Expanding used car supermarket group Big Motoring World has appointed former Styner Group chief executive and chaoirman Laurence Vaughan as its new executive chairman.
Pendragon will open the doors to its first CarStore Experience Centre this weekend as it targets “first-class in person experiences for any customer” with its reimagined used car retail division.
Used car buyers are becoming more risk averse and seeking higher-quality vehicles with lower running costs.
Used van dealers are returning to auction halls to inspect higher mileage and older vehicles prior to bidding.
Candid online used car and van descriptions that highlight scratches, dents and other minor damage are a key lesson from digital disruptors for dealers, says iVendi.
Car subscription software provider Loopit is witnessing increased demand from retailers looking at alternative revenue stream solutions for their used car inventory.
Wholesale used car prices have declined for a fourth successive month at BCA remarketing centres across the UK as chief operating officer Stuart Pearson asserts “we have seen the market soften”.
Auto Trader has struck-up a new partnership with the Office for National Statistics (ONS) which will see the used car marketplaces data become an official economic barometer for the authority.
The squeeze on household incomes and continued new car supply constraints mean that the UK’s car finance sector is likely to be restricted to ‘single-digit growth’ in 2022, the FLA has said.
Available Car has appointed former Renault Retail Group regional operations director Craig Heathershaw as its new chief operating officer.
