Used car supermarket Big Motoring World aims to expand rapidly across the UK after growth investor Freshstream acquired an undisclosed stake in the business from owners Peter Waddell and John Bailey.
The car retail sector is facing a “perfect storm” of economic and political headwinds as UK inflation hits 7% - threatening to dent consumer confidence.
There are now more avenues for car dealerships to sell their vehicles than ever before but has the part-exchange process truly embraced the transparency of a truly omnichannel customer journey?
Wholesale used car values declined by 5.9% in March as external economic pressures, the cost-of-living squeeze and the ramifications of the conflict in Ukraine ensured a “tougher” market for retailers.
The UK’s cost of living crisis and the impact of Russia’s war in Ukraine threaten the used car market’s shift towards stability, eBay Motors’ Dermot Kelleher has suggested.
Auto Trader director of data and insights Richard Walker has stated that suggestions of tumbling used car prices “unfounded” – but conceded that demand is softening.
Auto Trader brand director Marc Palmer asserted that “areas of affluence” are the UK’s hotspots for interest in electric vehicles (EV) as the cost-of-living crisis continues to squeeze car buyers’ purse strings.
Cazoo reported seeing a “clear path for significant Retail GPU improvement” from its online used car sales after reporting a £550 million loss in 2021.
Norton Way has reimagined its used car retail model with the launch of its new Carverse dealership in Knebworth.
A BBC Watchdog investigation has called into question online car retailer Cazoo’s 300-point check on all its vehicles after failing to uncover documentary evidence of such scrutiny being carried out.
Swansway Group has followed a COVID crisis-defying set of record annual financial results in 2021 with a further 147% surge in pre-tax profits during 2021.
The Government is introducing a new second-hand motor vehicle export refund scheme, in October.
Warrantywise has announced the restructure of its dealer department with a new dealer partner programme.
New monthly research looking at consumer and dealer sentiment in the used car market will be launched in mid-April by Startline Motor Finance.
Used car prices have risen for the 98th consecutive week, according to Auto Trader, with cars selling at the fastest rate in five months.
Auto Trader has reported that used cars are selling at record speeds, despite a continuation of year-on-year value increases.
A used car retailer estimates that he has been left with a bill of around £50,000 after a crashed car overturned onto his dealership forecourt – damaging a number of vehicles.
Northern Ireland used car retailer Bob Mullen Motors is set to close six months after the death of its founder from COVID-19.
Almost one in two motor finance applications made during 2022 will happen online, according to new figures compiled by iVendi.
Car sales platform Buyacar is facing an uncertain future as sources have informed AM that its owners had been considering closing the business.
