News

The average UK dealer recorded a trading loss in 2008, the first annual loss in a decade, according to the latest national motor trade profitability figures.

Chrysler is asking dealers in the US to accept cost cuts and order vehicles as it races to restructure and secure additional government aid.

A new survey by Manheim Retail Services has found that most dealers experienced a downturn in used sales during 2008, but the auction house saw the possibility of a price recovery later this year.

UK car production plummeted 47.5 per cent to 53,823 cars in December as car makers acted to match supply with falling demand.

German car maker BMW is considering an application for government aid for its financial services arm.

Franchised dealers are focusing hard on the used car market amid fears of continued falling revenues from new car sales.

Southern Ireland consumers are continuing to buy cars in the UK in increasing numbers.

Used car selling prices in the wholesale market fell 3.1 per cent (£185) in December compared to the previous month, according to the latest data from Manheim.

The Government is looking at a proposal to pump money into the finance arm of the motor industry.

Honda has announced that car production at its Swindon plant will stop for 35 days in April and May because of the collapse in global demand.