Cazoo, a UK online motor retailer that already sold almost 20,000 cars to consumers since December 2019, says claims it is stock market bound are speculation.
Car retailers balancing supply and demand during COVID-19 ‘Lockdown 3’ trading have delivered a 41st consecutive week of rising used car prices on the Auto Trader classified advertising platform.
Used car dealers are more positive about their ability to make a healthy margin on their sales than they were before the COVID-19 pandemic, a new survey has found.
Cox Automotive’s Phillip Nothard has said it is “vital” that car showrooms are able to re-open as soon as possible despite signs that many retailers continue to perform well against the odds in COVID-19 ‘Lockdown 3’.
Cazana’s director of insights, Rupert Pontin, has conceded that February new and used car sales were ‘less promising than expected’ – despite attempts to set the data in a positive context.
Used car retailers have been warned of an electric vehicle (EV) overpricing issue once again after diesel-powered vehicles sold fastest in January.
CD Auction Group has axed listing and sellers fees on its dealer-to-dealer Vehicle Tradex platform in a bid to support car dealers keen to re-stock their forecourts during COVID-19 ‘Lockdown 3’.
Car retailers have returned to auctions in February after January experienced “price sensitive” trading as they stocked forecourts with sub-£12,000 price vehicles, according to Aston Barclay.
The CarShop brand is set to go global as Penske Automotive looks to rebrand its US CarSense operation and expand its used car supermarket footprint from 17 to 40 locations by 2023.
Cazoo has completed the acquisition of Smart Fleet Solutions in a deal which equips it with the ability to recondition more than 100,000 used cars each year ‘in house’.
Car auction firms believe that values for used petrol and diesel cars will remain strong or could increase, despite a decline in the used car market.
G3 Vehicle Auctions have announced the development of its new wheelchair accessible vehicles (WAV), light commercial vehicles (LCV) and motorbike auction centre in Leeds.
The Society of Motor Manufacturers and Traders (SMMT) has revealed that used car dealers delivered four consecutive months of sales growth in 2020 – despite months of enforced showroom closures in COVID-19 lockdown.
The UK’s COVID-19 ‘Lockdown 3’ trading restrictions mean that franchised car retailers are “suffering” more greatly than their European counterparts.
Dealer Auction anticipates a ‘used car boom’ this year, following a strong performance in Summer 2020.
Auto Trader has said that January’s 7.4% rise in used car values has given it “confidence we’ll see a quick return to health” as COVID-19 ‘Lockdown 3’ restrictions start to ease.
The Independent Motor Dealers Association (IMDA) has appointed Aston Barclay as its new auction partner.
The latest national lockdown has impacted car sales with a 36% decline in orders for new cars and 45% drop in used, according to lead management specialist Dealerweb.
A slowdown in consumers’ car buying activity and uncertainty when the current COVID-19 ‘Lockdown 3’ restrictions will end was the catalyst for a fall in used car trade prices in January.
Auto Trader has reported a 1.6 million uplift in the volumes of visitors to its online car marketing platform and record consumer confidence amid KPIs which could indicate another post-lockdown sales boom.
CarShop, has been named as one of Glassdoor’s Top 50 Best Places to Work in 2021, ranking at number 35.
The Big Motoring World used car supermarket business has reported that it managed to overcome the challenges of COVID-19 to increase its used car sales volumes in 2020.
SW Car Supermarket is poised to embrace a “wholesale approach” to used car retail in 2021 following the acquisition of two new sites in its hometown of Peterborough.
The Peter Cooper Motor Group is celebrating 40 years in business this year by pledging to raise £40,000 for local charities.
The Fiat 500L used in Peter Kay’s hit TV sitcom Car Share will be sold to raise funds for charity after being listed for sale on Dealer Auction by Picadilly Motors.
