Motorway has launched a new ‘Pro’ version of its stock acquisition platform following the completion of an £11 million funding round to drive further growth for the business.
Hyundai’s petrol-powered Tucson SUV was the UK’s fastest selling used car for a third consecutive month as it was joined at the top of the fast-turn rankings by Vauxhall’s Crossland X during May.
TDR Capital is in advanced talks to buy BCA Marketplace for £1.9bn.
Manheim has agreed a new five-year deal with used car supermarket operator Big Motoring World.
Unpredictable trading conditions prompted a drop in retail demand for 65% of car dealers, according to the latest sentiment survey from Modix.
Sytner Group’s Car People used car supermarket network has been rebranded and brought under the CarShop banner.
Car dealers have been called upon to end unnecessary used vehicle stock value losses of up to 5% by creating a centralised national service history database.
Vantage Motor Group is “embracing the burgeoning digital retail opportunity” with the integration of GForces’ NetDirector Auto-e online vehicle sales platform across its 25 dealership sites.
Wessex Garages’ Mazda Bristol dealership has installed an iPad offering customers access to The Car Buying Group (TCBG) valuations portal in a bid to speed up the part-exchange process.
BCA chief operating officer Stuart Pearson has said that buoyant 2018 used car values may have created ‘unrealistic expectations’ among used car dealers after another year-on-year decline at its auctions.
Car retailers increased their stock of used cars by an average of 15% in May but took longer to sell vehicles according to analysis of year-to-year trends analysed by Motors.co.uk.
Auto Trader is targeting new car buyers with a multi-million pound marketing campaign.
The majority of car retailers expect at least 10% of dealerships in the UK to close within the next five years, according to the findings of the latest Cox Automotive Insight Report.
Car dealers registered a “marginal” year-on-year improvement in profits during April, according to ASE – the month’s average total amounting to £5,000.
Foray Motor Group has closed its Andover Used Car Centre less than a year after re-branding the showroom from its Andover Ford dealership.
Pendragon needs to refocus its Car Store used car supermarket strategy as it seeks out “self-help opportunities” in light of an operational business review which predicted that the group would make a significant loss in H1, 2019.
Cartime is targeting a £100 million turnover by 2021 after celebrating a set of annual financial results which revealed a 28.7% rise in revenues and 27% increase in pre-tax profits in 2018.
Motorpoint delivered 6.8% turnover growth and 10% growth in profit before taxation and exceptional items in its 2018 annual financial results.
Driver1 has signed a two-year partnership with Cox Automotive, to provide cheap cars on subscription to young drivers.
Cazoo has appointed Jonathan Howell as chief technology officer, ahead of its launch at the end of the year.
Despite volatile alternative fuel vehicle (AFV) values and reports of significant decline across the sector, there is ‘no need' for car retailers to heavily write back stock values, according to Cazana.
Car dealers pushed hard to realise the benefits of car buyers’ increased interest in used cars during May – with the number of prospecting calls up by 21% during the month.
JudgeService has urged dealers to focus on improving customer satisfaction and attention to detail to help drive stock turn and avoid “book” drops.
Auto Trader’s annual turnover rose 8% to £355.1 million in 2018 as its grew its average profit per retailer forecourt by 9% to £1,844.
Auto Trader data recorded a 14% rise in car buyers searching for electric vehicles (EVs) during May, but the 2012 Ford Focus Estate emerged as the online marketing platform’s fastest-selling car.
