February 10, 2012
Car Buying Guide
Last week Vertu Motors released a decent set of interim figures for its first six months and reported the statistic that 45.7 per cent of the group's gross profit for the period came from the aftersales departments (TaklingMotors) Well as Alanis Morrisette might warble, it’s ironic but this is something we have been predicting … [Read more...]
Thank God, some sort of order has returned to the country. In the face of job losses, house price depreciation, high fuel costs, house repossessions, the credit crunch and the banking crisis it’s good to know that the headlines … [Read more...]
As you know from earlier postings we have talked about there being several potential income streams generated from the car you may potentially purchase. There is a loan itself, GAP insurance, payment protection and so on. … [Read more...]
To lift the gloom an MTI special! A review of the new Ferrari California! Screw the banks, get out all your credit cards and tot up the credit limits...you never know those absolute bankers might have given you enough credit to buy one of these! Enjoy! … [Read more...]
Reading the news item "Vehicle traders call for action as slump goes on" it is certainly consistent with what we at MTI have been saying for a long while, if the government are happy to borrow their way out of this downturn then some of it should go towards the beleaguered car sector. … [Read more...]
Although at MTI we have spent the last few months giving out depressing, albeit real information about the trade, there is still some good news. If you consider the fact that used cars have never been cheaper and if you have no car to trade in you really are making … [Read more...]
We read an interesting article on the on-line edition of MotorTrader Magazine, TalkingMotors regarding the decline of the car dealer. The article states; Car dealers are an endangered species and their number in the UK will be significantly reduced in the future, according to an industry analyst. PricewaterhouseCoopers said the severe drop … [Read more...]
Well it’s happened, and why would we think it couldn’t? Our band of merry men (the insiders) who spread good advice, news from the “inside” and expose bad practices in the trade find themselves a man light. One of our contributors, after more than 25 years of service to the motor trade from eager trainee parts man to group after-sales … [Read more...]
A report on AM-Online today regarding the increase in vehicle production figures for the UK. On the surface it seems encouraging but we are starting to hear of manufacturing now cutting production at some plants. October's figures may not be so good. UK car production was up in September by 2.4% to 142,606 units and 4.2% year-to-date. Paul … [Read more...]
We're quickly approaching year end, yet the motor shows keep on coming. There's certainly no hold-up in the car industry and certainly no shortage of new metal for us to get our teeth into over next few months. It has to be said that for me, Paris in October know how to put on a proper show. … [Read more...]
Now I've nothing against the "Insider", we even share the same name...(although I'll think you'll find we were posting first) however, it's just that I find it confusing to say the least when this "Insider" wastes their time … [Read more...]
In this economic slowdown most people are looking at ways of saving money, especially when it comes to running a car. That could be simply downsizing, doing less mileage or buying a lower engine size and spending less. However if you only use your car sporadically or just at weekends there may be an easier way. … [Read more...]
In the last article in this series we talked about the lease/company car section of the auction halls, to continue on our trade tour inside the car auction we’re going to explore what’s going on in other areas. We’ll be leaving the rows of clean and prepared lease cars and heading towards the main dealer part exchanges. … [Read more...]
Inchcape, the UK's second largest car dealer, has issued a profits warning and is now expected to make job cuts. The group, which employs 6,000 people in Britain, is seeking to make cost reductions of £50m but it said it was unable to say how many jobs would go as part of that initiative. It has been forced to issue a profits warning as … [Read more...]
A tip from MTI unless you are really, really desperate steer clear of Log Book Loans. They give credit to customers who have been refused credit elsewhere and are truly on their knees, if a customer has a car they own or with very little outstanding finance this company … [Read more...]
It’s quite a relief for us motor trade professionals to see another industry in the firing line lately, namely those complete bankers who have bought the world to financial meltdown. To know that estate agents and car sales people have been knocked off their “most despised” perch is a little comforting in all the doom. … [Read more...]
The situation regarding buying used cars has now reached a point, due to the current economic crisis, where they are quite possibly becoming the only realistic option when choosing your next car. … [Read more...]
Well we’ve been saying for a while now that the new car market was suffering, so here is the truth. New car sales are down 21% year on year and 18% down in the last 3 months. The Top 10 sellers for September were; … [Read more...]
A weekend of turmoil in the US brought rumours of car industry bankruptcies and mergers as the global credit crisis and plummeting sales plunge the big three auto makers into crisis. The US media said that General Motors and Chrysler are in possible merger or partnership talks while reports from Japan added that Ford is ready to sell its … [Read more...]
With the state of car sales looking sorry for some dealers at present, I can tell you for a fact that they are being advised to scrutinise part exchanges more than ever, with things like cracked windscreens devaluing cars by as much as £300 at auctions and alloy wheel damage by £50 to £150 per wheel. … [Read more...]
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