Market insight
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Car Dealer News 30 JulGroup 1 boss predicts release of several years’ pent-up car retail demand
Group 1 Automotive president and chief executive Earl J. Hesterberg has predicted the release of “several years” pent-up demand in the UK car retail sector.
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Market Insight 30 Jul‘Unclear' whether European car registrations will return to pre-COVID levels
Jato Dynamics has said that it is “unclear” whether Europe’s new car registrations volumes will return to pre-COVID pandemic levels after the sector’s recovery slowed in June.
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Car Dealer News 30 JulPositive car buyer demand prompts 20% Pendragon profit upgrade for 2021
Strong demand from car buyers and good levels of stock in the first half of the year have prompted Pendragon to upgrade its pre-tax profit guidance for 2021 by 20%.
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Market Insight 29 JulMPs suggest EV mandate for OEMs to ramp-up adoption ahead of 2030
MPs on the UK Government’s transport committee have suggested that a mandate compelling car makers to sell increasing numbers of electric vehicles (EV) could be the key to driving greater adoption.
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Market Insight 29 JulUK’s June car production choked by COVID staff absence and semiconductor crisis
The UK’s car manufacturing sector saw its productivity choked by COVID-19 triggered staff absences and the global shortage of semiconductor microchips in June.
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Car Dealer News 29 JulInchcape reports near 15-fold year-on-year profit increase in H1 2021
Inchcape PLC has reported a 30% rise in turnover and a near 15-fold increase in its pre-tax profits as showed strong signs of recovery from the COVID-19 pandemic in the first half of 2021.
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Car Dealer News 29 JulLookers turnaround to deliver £50m pre-tax profit in H1 2021
Lookers has said that a positive swing in performance that will see 2020’s H1 loss of £50 million converted into a £50m pre-tax profit in the first half of this year.
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Car Dealer News 29 JulVertu Motors' 2021 pre-tax profit forecast upgraded by 60% in a month
Vertu Motors has suggested that its 2021 pre-tax profits could be up to 60% more than forecast just a month ago after continuing its “exceptional” performance in the used car market.
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Latest News 28 JulEV subscription provider Onto attracts £126m in funding round
UK-based electric vehicle (EV) subscription provider Onto has attracted a further £126 million in its latest funding round.
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Acquisitions and deals 28 JulVertu Motors acquires RRG Renault and Dacia Leicester dealerships
Vertu Motors will operate Leicester’s Renault and Dacia franchised car dealerships in Leicester after acquiring the businesses from Renault Retail Group.
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Market Insight 28 JulPost-Euros period delivers 28.8% used car sales boost for dealers, data shows
Used car buyers who paused their purchase to focus their attention on England’s route through the European football championships may have triggered a 26.8% boost to retail sales last week.
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Opinion 28 JulHow will car maker's evolve to combat semiconductor supply shortages? Opinion
The shortage of supply of semiconductors and microprocessors is having a profound impact on the global automotive sector, but how will car makers' strategies evolve to mitigate against the issues.
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News 27 JulMotorpoint sells 61% of cars online in record start to 2021
Motorpoint has revealed that it sold 61% of its used car volume online in Q1 as it accelerated its ecommerce retail offering to deliver a record start to 2021.
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Used Cars 27 JulCox Automotive downgrades 2021 used car sales forecast
Cox Automotive has downgraded its used car sales forecast for 2021 as the lasting impact of COVID-19 and the global semiconductor shortage look set to result in a “market starved of supply" in Q3.
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Manufacturer 26 JulInternational Motors acquires Mitsubishi UK aftersales franchise operation
International Motors has completed the acquisition of the Mitsubishi Motors in the UK aftersales franchise operation from the Japanese brand’s long-term importer The Colt Car Company.
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Car Dealer News 26 Jul
Lookers completes opening of new Chester Kia dealership
Lookers has marked the opening of its new Chester Kia dealership with a weekend-long customer event.
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Market Insight 26 Jul
Average LCV value approaches £10,000 at BCA auctions for first time
The average value of a used light commercial vehicle (LCV) has risen to almost £10,000 at BCA auctions as demand for vans continues to soar.
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Used Cars 22 JulConsumer demand drives 12.6% increase in used car values on Auto Trader
Strong levels of consumer demand in the market is continuing to drive used car price growth on Auto Trader, according to its latest data.
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Supplier News 22 JulPremium used cars most in demand in July, according to Aston Barclay
Premium SUVs and used sports cars are the most in-demand stock in July across Aston Barclay’s physical and online auction channels.
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Car Dealer News 22 JulTrustFord boss Stuart Foulds celebrates group’s record H1 performance
TrustFord chairman and chief executive Stuart Foulds has expressed “pride” in his workforce’s delivery of a £13.6m pre-tax profit in the first half of 2021.
