The average UK car retailer saw profitability decline by 75% year-on-year in October and is likely to end 2019 with a 9% overall reduction in overall profit, ASE has reported.
Pentagon Motor Group has announced the appointment of Sytner Group used car supermarket division head of business Alwyn Harris as a regional director.
Spoticar, a Europe-wide used car brand, is set to launch in the UK in early 2020.
Glyn Hopkin claims to have halved its used car days in stock within 30 days after rolling out a new group-wide focus on ageing stock and introducing new pricing parameters.
Cazoo has launched its UK used car retail portal with the backing of a record £80 million in pre-launch funding to boost its chances of success.
Pre-tax profits have dropped by 18.3% at the UK’s largest independent car dealer group Motorpoint.
Cox Automotive has predicted a 1.3% year-on-year decline in new car sales and 2.7% decline in used car sales volumes in Q1 2020.
Sytner Group’s used car supermarket division will launch a new drive-in service centre concept when it opens the doors to its 10th CarShop site in Bristol this weekend.
Used electric vehicles (EV) like the Renault Zoe and BMW i3 are appreciating in value after car buyers "turned a corner" in their attitude to adoption, according to CarGurus.
Affordable pure electric vehicles (EVs) are moving into the used car sector’s fast lane as consumers show less enthusiasm for a new crop of expensive zero-emissions cars.
Used electric vehicle (EV) values continued to rise as consumers warmed to electrification during October as petrol powered cars faltered and diesel vehicles showed signs of growing demand, according to the Auto Trader Retail Price Index.
Swansway Group is hoping to take on web-savvy used car supermarkets with a newly-launched Motor Match website offering free provenance checks and independent review content to assist consumer car searches.
Franchised car retailers will have to continue to drive the efficiency of their used car sales in order to maintain profitability during 2020, according to epyx.
Small SUVs dominated October’s fastest selling used car rankings as the Audi Q3 led the pack, according to data published by Indicata.
Digital used vehicle buying increases at Aston Barclay in the third quarter of 2019.
New car sales remain in decline but data for Q3 2019 shows the UK's used car sales volumes have risen by almost 20,000 units.
Manheim has launched a new suite of valuation and appraisal products to support dealers with the part-exchange process.
Motorpoint has appointed former JLA group operations director Andy Smyth as its first-ever chief operating officer as it looks to shift all aspects of its business “from good to great”.
Research conducted among 2,000 motorists has shown that 90% of car buyers are more likely to make a purchase when if presented with accurate vehicle service history documentation, revealed HPI.
Auto Trader has said that the Renault Zoe’s dominance of its fastest selling used car rankings for November demonstrates car buyers’ growing appetite for electric vehicles (EV).
Manheim has has hired former Arval-BNP Paribas executive Arnaud Bosvieux as its customer relationship director.
October has been a volatile month politically and economically with warnings around future investment in the UK and the viability of running certain business types amid major UK business failures in the retail sector.
Used vehicle values stabilised in October as a result of low supply and steady demand, according to Cap HPI.
Demand for used cars at auction has gained momentum in quarter three, with hybrid and electric vehicles (EVs) reaching their highest average prices on record.
Independent dealer Cartime says sales are off to a fast start at its new Rochdale dealership and it is continuing to recruit new staff members.
