Editor’s Choice

The new car sales figures for October show how chip shortage is wreaking havoc on some carmakers vehicle supply while others are still producing positive performances. Some players saw big increases, including Polestar up 217.9%, Maserati (+76.1%), SsangYong (+74.7%), Hyundai (+34.5%), Porsche (+33.6%), Subaru (+31.3%) MG (+23.6%) and Kia (+22.1%). At the other end of the scale Jaguar had a ...

JCT600 turned in a strong performance in 2020 with pre-tax profits up 25% to £19.6m on turnover down -12.6% to £1.117bn. Like most dealer groups it was hit in the first lockdown with the temporary closure of showrooms but recovered “quickly and effectively,” delivering what it described as an excellent result for the year. It availed of the government Business ...

  New car registrations fell for the fourth consecutive month in October with a decline of -24.6% to 106,265 units compared to October last year. The monthly performance was the weakest since October 1991. Demand from large fleets fell by 40.4%. Private demand fell by a more modest -3.3%, although this apparent small decline is compared against weak consumer uptake ...

MG Motor UK and Vertu Motors Plc have opened a second MG Bristol Street Motors dealership in Beaconsfield, Buckinghamshire. The first Bristol Street Motors MG site opened in Carlisle, Cumbria, in August 2021. Bristol Street Motors MG Beaconsfield is based on the town’s Station Road adjacent to the Vertu Motors Mercedes-Benz of Beaconsfield site and carries a range of new ...

Cazoo has today opened its latest Customer Centre in Scotswood Road, Newcastle. This marks the 21st collection and drop-off location opened by Cazoo over the last 15 months. The site in Newcastle was acquired earlier this year and Cazoo has since invested over £1m, creating 20 new customer-facing and vehicle-servicing jobs. Alex Chesterman, Founder & CEO of Cazoo said, “Consumers ...

Peter Vardy has partnered with electric vehicle specialist, Zoom EV, to ease EV transition. Customers who buy a plug-in hybrid or fully-electric car from a CARZ store, will gain access to a suite of discounts as part of Peter Vardy’s EV Benefits Bundle, as well as support from Zoom EV’s expert team. Benefits include discounted access to public charging networks, ...

Inchcape has upgraded its profit forecast for 2021 to more than £290m despite reporting ongoing supply issues caused by the chip shortage which are set to impact well into 2022. It reported like-for-like revenues up 10% to £1.9bn in Q3 and said the UK performance was “relatively resilient” against the backdrop of supply constraints Duncan Tait, Group CEO, said: “The ...

Endeavour Automotive saw pre-tax profits fall 21.9% to £439,221 on turnover down -14.7% to £181.8m in 2020 in the pandemic. During the year the company, which operates Volvo, Hyundai, Lotus and LEVC franchises, opened its first Polestar business and this contributed to the profitability during the year. In results filed at Companies House Endeavour said the results were positive given ...

Eastern Holdings saw pre tax profits rise 32.8% to £15.8m on turnover down -14.1% to £664.7m in 2020. Like all dealer groups, it was hit hard in the first lockdown with showrooms temporarily closed for business, with profitability £8m down on the previous year From the start of the lockdown one to the end of June the company sold over ...

Peter Vardy saw pre tax profits in 2020 accelerate 47.6% to £9.3m on turnover down -6.5% to £440.6m. It said although revenues were down it was a good performance given that showrooms were shut for business in successive lockdowns. “Dealerships were forced to close their doors for more than a quarter of the year. “In addition, underlying return on sales, ...