Car manufacturers and the Society of Motor Manufacturers and Traders (SMMT) have been accused of “scaremongering” in their efforts to lobby the UK Government over its 2030 ban on diesel and petrol cars.
The National Association of Motor Auctions (NAMA) has said that first-time conversion rates are set to rise as used car demand increases with the easing of COVID-19 lockdown restrictions.
The Finance and Leasing Association (FLA) has predicted a “strong recovery” from the consumer car finance sector after volumes declined by 35% as COVID-19 ‘Lockdown 3’ stalled trading in January.
Park’s Motor Group has confirmed that it closed the doors to one of its Nissan dealerships after a number of employees tested positive for COVID-19 coronavirus.
Auto Trader has painted a positive picture of the car retail sector during March’s COVID-19 ‘Lockdown 3’, with consumer confidence reaching new heights and dealers trading at 90% of normal volumes.
Lexus UK has retained its title as the top-rated new car retail franchise in the National Franchised Dealers Association (NFDA) Dealer Attitude Survey Winter 2020/21.
Demand for used cars is starting to accelerate as buyers look to make post-lockdown purchases, according to Starline Motor Finance.
Renault has sold its 1.5% share in Mercedes-Benz carmaker Daimler for 1.143 billion euros (£0.98bn) as its looks to reduce debt and leverage profits.
Demand for subprime lending has more than doubled in the last year, according to motor finance broker Caerus Capital.
CarGurus’ 2021 Buyer Insight Report has found that the 63% of car buyers are now open to the idea of buying a vehicle online as a result of the impact of the COVID-19 pandemic.
Mazda UK managing director Jeremy Thomson has told AM that the brand plans to “capture back” 50% of March sales lost to COVID-19 ‘Lockdown 3’ showroom closures in April, May and June.
Costly corporate identity upgrades and showroom developments should be pulled forward to take advantage of Rishi Sunak’s ‘super-deduction’ tax relief offer, according to RSM.
New data from Cox Automotive shows orders for new ‘21’ number plate cars in March, usually the industry’s best performing car sales month of the year, were down by as much as 30%.
Marshall Motor Holdings chief executive Daksh Gupta has said that the AM100 PLC will consider repaying Government furlough payments “if we have the opportunity”.
Marshall Motor Holdings reported revenues down by 5.3% to £2.15 billion as pre-tax profits rose 3.7% to £20.4 million in a COVID-19 impacted 2020 car retail market.
The average list price of a used car increased by 1.5% in February, climbing from £12,370 to £12,558, according to eBay Motors Group.
Volkswagen has set-out its plan to leverage profitability from data as it focuses on a future of autonomous electric vehicles (EV) with its new Accelerate brand strategy.
Vertu Motors chief executive Robert Forrester has insisted that his business is not making a switch to online car sales after a 360% rise in end-to-end digital transactions in 2020.
Porsche GB’s growing franchised car retail network contributed to a February sales result which delivered growth amid a market down 35.5% due to the ongoing COVID-19 ‘Lockdown 3’ showroom closures.
Car dealers should be braced for “a third, successive dismal new plate month” in March after COVID-19 ‘Lockdown 3’ delivered another 35.5% decline to the UK’s new car registrations in February.
