Editor’s Choice

The FCA has fined Volkswagen Financial Services UK (Volkswagen Finance) £5,397,600 for ‘failing to treat its customers in financial difficulty fairly’. This issue was uncovered during the FCA’s supervisory work to assess how lenders support borrowers in difficulty. Volkswagen Finance has agreed to pay over £21.5m in redress to around 110,000 customers. Therese Chambers, Joint Executive Director of Enforcement and ...

Sytner CEO Darren Edwards is to retire, effective January 1, 2025. Edwards has worked in motor sector for 40 years working in the automotive industry, culminating in a 20-year career with Sytner Group, the past 10 years as CEO. He will be replaced by John Cragg, who is relocating from the US to Britain. Cragg is currently executive vice president ...

Holden Motor Group is opening a new £3.5m Volvo dealership in King’s Lynn. The store is being moved from its current premises in Downham Market to Bergen Way. Martyn Webb, managing director of Holden Group, said: “We are excited to start this new chapter of Holden Volvo as we prepare to open the doors to our brand-new home later this ...

Stoneacre Motor Group has acquired an Isuzu dealership formerly run by Close Motor Company in Peterborough. The newly acquired dealership is located adjacent to its existing Stoneacre Peterborough Seat and Cupra dealership on Newark Road. Close Motor Company continues to represent Suzuki and KGM in Corby and is an approved repairer for Mitsubishi. Stoneacre Motor Group has been expanding. In ...

BCA has confirmed the sudden passing of Guy Thomas, Group Head of Product at BCA. Thomas joined BCA in 2009 to head up the development and implementation of a number of projects, including the award-winning BCA Dealer Pro vehicle appraisal, valuation and remarketing app. Avril Palmer-Baunack said “Guy was a highly experienced professional, as well as a respected industry voice ...

Volkswagen Group UK has confirmed that it is pushing ahead with plans to remap its UK dealer networks with cuts to the number of dealer outlets and fewer investors. The remap of the networks – described by one dealer as ‘brutal’ – impacts the brands it has in the UK, including Audi, Volkswagen Passenger Cars, Volkswagen Commercial Vehicles, SEAT, Cupra ...

Glyn Hopkin has appointed Tim Murphy as Chief Operations Officer (COO) for the group. Murphy joins Glyn Hopkin from Marshall where he was Audi and JLR Franchise Director. He said: “I am thrilled to be joining Glyn Hopkin as Chief Operating Officer for the next stage in the groups journey under the EOT scheme, I am looking forward to working ...

Steer Automotive has acquired Rye Street Group accident repair business with a strong presence across Hertfordshire and Essex. Rye Street Group, operating since 1990, manages a network of seven repair centres and holds 23 manufacturer approvals and 24 insurer approvals. Both managing directors, Bill Duffy and Lee McNaughton are leaving the business as part of this transition. Nick Ferris and ...

Jamie Crowther has been appointed as COO of Peter Vardy in Scotland. It marks a return by Crowther to the dealer group based in Scotland. Crowther fills the position left vacant when James Brearley left to take up the CEO slot at Lookers. He joins from Marshall Motor Group where he worked for almost 10 years, most recently as director ...

John Clark Motor Group saw pre-tax profits fall -9.7% to £22.9m on turnover up 12.6% to £1.03bn in the year to 31 December 2023. The family-run business, which has dealerships across North, East and Central Scotland, said it was another good year, breaking through the £1bn barrier for the first time. The group sold total new car sales of 13,428 ...