Read an interesting article in Saturday August 30th Daily Mail by their Motoring Editor Ray Massey. In fact it was "interesting" for all the wrong reasons. Now I don't know Ray Massey but I understand he is a respected journalist in motoring circles but I'm afraid he's got this one wrong. … [Read more...]
Rip-off garages under the spotlight
August 30, 2008 By
The motor industry has launched a new code of practice to stop consumers being ripped off by garages. Surveys have shown that car owners could be paying as much as £4billion a year more than they need to for vehicle servicing. … [Read more...]
Insider view
August 29, 2008 By
A colleague and I were chatting yesterday and he mentioned that a friend of his had a car to trade-in and would I be able to find a replacement (which I since have) his current car is a Renault Vel Satis a rather unusual looking car (think Fiat Multipla) which was only around for a short while. … [Read more...]
It’s going to be a nervous September
August 29, 2008 By
As September is almost upon us and we have enjoyed such a lovely warm summer! What better way to cheer yourself up than to buy a new car. Manufacturers and dealers alike are well behind the eight ball when it comes to like for like targets so the competition will be vicious. The great thing however in all this doom and despondency is that the … [Read more...]
British drivers ‘want to go green’
August 29, 2008 By
More than half of all car owners in the UK are concerned about the impact their vehicle has on the environment, it has been revealed. Research carried out by financial services provider Experian found 55 per cent of motorists are worried about carbon emissions when they drive, with 26 per cent adding this will be a factor when it comes to buying … [Read more...]
UK’s fifth biggest car dealer group feels the pinch
August 28, 2008 By
Lookers’ pre-tax profits slip 28 per cent in first half of 2008 Lookers’ profits slipped during the first half of the year despite gains in revenue, according to the group’s interim results. Operating profit for the six months to the end of June dropped 5.2 per cent from £25m in 2007 to £23.7m, while revenue rose 18.2 per cent from … [Read more...]
Tip of the day
August 25, 2008 By
There is a feeling permeating the trade that if dealers aren’t careful with their September trade-ins then their profitability could be wiped out by over trading; also the time to go and buy a car from auction is definitely late September when the market will be flooded. There will definitely be many bargains to be had. … [Read more...]
Car sales, the Internet and the happy shopper
August 22, 2008 By
The internet, as we know, is a very powerful tool in the world of selling motor cars, in fact it is so powerful that some dealers do not even bother with newspaper advertising anymore, apparently the accuracy and the ability to update information daily are proving the difference between selling more cars and having stagnant stock. … [Read more...]
Dealers fined £175,000 by FSA
August 21, 2008 By
Five motor retailers have been fined more than £175,000 in total by the Financial Services Authority for serious breaches relating to sales of payment protection insurance (PPI). … [Read more...]
POS finance must adopt ‘third way’
August 21, 2008 By
Fundamental rethinking of point-of-sale motor finance is needed so that dealers can reclaim their lost independence, says Peter Cooke, University of Buckingham professor of automotive management, in a comprehensive study published this month. … [Read more...]
Get the competitive edge!
August 20, 2008 By
Get the Motor Trade Insider Guide To Buying New Cars and have the competitive edge when you buy a new car! … [Read more...]
White is the new black
August 18, 2008 By
Its official silver is definitely going out of fashion! We have had dealers telling us this week that they are actively avoiding silver and that white is having a real comeback, especially in sportier models. It’s a surprise because white used to be the kiss of death on a used car but anything can make a comeback (if Take That can do it…!) so … [Read more...]
Dealers get a bigger share of the finance market
August 18, 2008 By
Tougher lending conditions from high street banks has driven an increase in dealers successfully selling motor finance at point of sale. The latest statistics from the Finance and Leasing Association show that in the year to June 2008, 50% of all new car purchases were bought using dealers' motor finance. … [Read more...]
Incentives!
August 15, 2008 By
Watch out for some great offers coming soon to encourage the used car market and offset some of the pressure on September part exchanges such as free fuel, redundancy cover and free RAC cover. … [Read more...]
Jumping on the green bandwagon
August 14, 2008 By
Motor trade Insider has come accross some marketing advice being sent out to dealers to get them to make the most of the current "green" demand. Some of it is reasonable some of it terrible. We have placed our comments in italics under each "proposal". … [Read more...]
What trade-in?
August 13, 2008 By
Do your research; we heard on the grapevine that a certain major group who maybe experiencing some financial difficulty at present are reportedly not accepting trade-ins, makes you wonder how they expect people to dispose of their existing cars and what appetite they would have for continuing to use these dealerships! … [Read more...]
Call to end ‘one size fits all’ approach to finance
August 13, 2008 By
Motor finance firms need a new approach to underwriting because the historic “one size fits all” no longer works, according to a report by University of Buckingham KPMG professor of automotive management Peter Cooke. … [Read more...]
Gain a competitive edge at trade-in
August 12, 2008 By
When selling cars in the current trading climate we need to maximize our opportunities when it comes to saving money, therefore when it comes to presenting your car for sale whether advertising privately or for part exchange it is more important than ever to ensure your car is in as good condition as possible. … [Read more...]
Deteriorating roads could be good news for dealers
August 11, 2008 By
The results of a road survey by the RAC gives even more weight to arguments for dealers to get involved in tyre fitting. The RAC Breakdown Britain report, its study on the state of the nation's roads, directly attribute a deterioration in the condition and quality of UK roads to an upturn in vehicle breakdowns, and potentially lucrative repairs … [Read more...]
A vehicle for profits
August 11, 2008 By
With increasing pressure on new/used car profit margins, the business managers are now perhaps the most important employee in the dealership when it comes to generating profit, indeed whereas maybe 2 yrs ago a sales manager would be targeted to sell 400 used cars per year at £1000 per unit profit, today’s market is very different. … [Read more...]
Taxing times
August 9, 2008 By
As usual a tax on the motorist, not just the motorist but the poorest motorist. The people who drive the older more environmentally unfriendly cars are at the bottom end of the scale, if they are penalized they will not be able to afford to switch to greener cars as they are much more expensive in the first place and all that will happen is that … [Read more...]
Used car prices to slump 12 per cent
August 8, 2008 By
Analysts predict sector to be badly hit by economic slowdown Used car values are set to fall by 12 per cent between now and Christmas, according to EurotaxGlass’s. The analysts said the decline would be caused by falling retail demand and a plentiful supply of second-hand vehicles. “Retail demand will remain weak in August, and the … [Read more...]
New car sales: July 2008 results
August 8, 2008 By
Volumes experience steepest decline in 18 months. New car sales plummeted by 13 per cent in July – the steepest decline since December 2006. The July total of 153,420 units was down 13.4 per cent year-on-year, as sales in both the private and fleet sector fell. … [Read more...]
It’s all about timing!
August 6, 2008 By
For every ying there must be a yang and it is very true today, right now in the motor trade. The market is swamped with big engined petrol cars as people attempt to off load their big thirsty cars and get into something cheaper and, of course, "green". … [Read more...]
Car tax plans are not enough, says committee
August 6, 2008 By
Parliament's Environmental Audit Committee says plans for VED rises are a step in the right direction but the tax should be even more punitive to push drivers into the greenest cars. Its chairman, Tim Yeo, told the BBC this morning that it is an urgent issue. … [Read more...]
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