Used car retailers increased their stock turn by 11.8% month-on-month as demand for vehicles continued to drive up values at auction houses across the UK, according to Cox Automotive and eBay Motors Group.
Marshall Motor Group has agreed a new, three-year deal with vehicle remarketing provider, Manheim.
Cox Automotive’s monthly Dealer Sentiment Survey has found that more than a third (37%) of UK car dealers are stocking older vehicles in the wake of COVID-19 lockdown.
A 100-strong team of staff from across Cox Automotive's UK operations have succeeded in raising over £10,000 for the mental health charity, Mind.
Cox Automotive has reported signs of pent-up demand in the used car market after its auctions went wholly online due to the COVID-19 pandemic.
Before the lockdown, many of the UK’s largest motor auction and remarketing companies were enjoying successes in signing deals. Now, as the sector gears up to return to normal, they are well placed to support the recovery.
Dealer Auction has seen a 135% month-on-month increase in sales through its platform in the first week of June as dealers rush to obtain more stock to meet consumer demand.
COVID-19 has rendered physical car auctions a no-go zone for 23% of car retailers in the short- to medium-term, Cox Automotive’ s latest dealer sentiment survey has revealed.
Car retailers across the UK reported that demand from car buyers left pent-up during the COVID-19 lockdown period had resulted in a bumper return to showroom trading on June 1.
Cox Automotive has re-started Manheim's car auction operations via its online sales platform following “weeks of careful planning and implementation of the necessary safety measures”.
Cox Automotive has predicted a stop/start recovery from the COVID-19 coronavirus outbreak for the automotive retail sector – revising its new car sales forecast to detail a 29% decline in 2020.
Cox Automotive has promoted its UK CEO Martin Forbes into the position of president of Cox Automotive International, effective immediately.
While used car performance helped to deliver stable levels of profit and volume in 2019 there have been some signs of an early wobble in 2020 with pressure on petrol values in particular.
Coronavirus has been described as the “biggest immediate threat to the UK car retail sector” after retailers across the country began making contingency plans to prevent its spread.
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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.
PSA Group’s UK managing director and senior vice-president Alison Jones has been named as the latest winner of Cox Automotive’s Barbara Cox Woman of the Year Award.
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 latest results from the NextGear Capital survey have revealed that dealers are combining instinct with valuation tools to identify the best stock.
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