Used car dealers had begun to reduce the value of their forecourt stock as the UK transitioned from normal trading into a Government-imposed COVID-19 coronavirus lockdown, according to Cazana.
Motorpoint chief executive Mark Carpenter has vowed to give-up his own income from the used car supermarket business in order to top-up the wages of ‘furloughed’ staff during the COVID-19 coronavirus lockdown.
Used car values declined 2.2% in March as retail and trade demand fell due to the Covid-19 coronavirus crisis, according to Cap HPI.
The point of sale (POS) car finance market declined 2% by value and 5% by volume in January 2020, the Finance and Leasing Association (FLA) has revealed.
Cazoo has launched a further £100 million to boost its online car retail ambitions after delivering £20 million worth of vehicle sales in its first three months of trading.
BCA’s UK-wide car auction sales will go online only from March 26 as the remarketing specialist “prioritises the well-being of customers and our people” amid the COVID-19 coronavirus outbreak.
BCA has revealed that the average value of a used vehicle rose 1.6% to a record £10,002 at its auctions in February as it praised the sector's resilience in the current COVID-19 coronavirus health crisis.
Pendragon has revealed that it suffered a £117.4 million loss after tax in 2019 in an annual results statement that revealed the full impact of “significant H1 losses”.
Imperial Cars has opened the doors at its 17th used car retail site with the completion of a new showroom facility in Birmingham.
Big Motoring World chief executive Peter Waddell and former Cox Automotive president of international operations John Bailey are set to launch Carzam – a new "Amazon-style" online car retail platform.
Ford retailer Hills Automotive has expanded its used car and commercial vehicle operations into a new location with the acquisition of the Savilles Garage car dealership at Mustow Green, Kidderminster.
The 2016 Ford Ka city car has retained its status as Auto Trader’s fastest-selling used car in February as the online marketing platform recorded a speeding-up of stock turn ahead of the key number plate change month of March.
An independent used car dealership has been ordered to pay £14,000 after attempting to sell and Audi Q7 SUV having ‘clocked’ the vehicle to remove 30,000 miles from its mileage.
The volume of cars passing through UK remarketing centres looks set to stabilise during March following a “few months of strong growth”, according to NAMA.
Aston Barclay’s auctions centres in Prees Heath and Wakefield have enjoyed a record start to 2020 as demand for record used car volumes continues.
Coronavirus has been acknowledged among a series of “significant challenges” facing the automotive retail sector in the middle to long-term in Cox Automotive’s monthly Market Tracker report.
BCA is offering the next generation of used car remarketing talent a grounding in the sector through its in-house Graduate Development Programme.
Carwow's YouTube channel has reached one billion views after its new electric vehicle (EV) range car test video became its most watched new upload on the channel.
Independent used Porsche sports car dealer Specialist Cars Malton has ceased trading after administrators failed to find a buyer for the business.
UK car buyers have Europe’s strongest appetite for used diesel cars according to stock turn data published by Indicata this week.
Cox Automotive UK has completed the acquisition of vehicle services provider and Bruntingthorpe operator C Walton Ltd, expanding its whole-life vehicle services offering with its biggest UK acquisition to date.
The key number plate change month of March will be pivotal in car retailers’ efforts to achieve profitability in 2020, according to sector analyst ASE.
Two out of five car buyers would only be willing to travel up to 30 miles to buy a used car, find new research from AA Cars.
Research by MotoNovo Finance has revealed that digital platforms are proving an essential link in the retail chain for used car buyers.
The new car market will decline 1.5% by volume in 2020 as consumer confidence and vehicle emissions regulation continue to play key roles, Cazana’s latest market update has predicted.
