Hendy Group has opened a new multi-brand showroom on Tudeley Lane in Tonbridge in Kent for the sale of new and used Vauxhall and Peugeot vehicles. With an investment of £1million, the Hendy Vauxhall and Peugeot facility will also provide vehicle service and repair capabilities, motability support, and specific sales and service for the latest range of Vauxhall vans. Paul ...
Read More »Stellantis &You, Sales and Services appoints new CEO
Stellantis &You UK has appointed Richard Garbutt as its new Chief Executive, replacing Angela Shepherd. He has been promoted from his sales director role which he started in 2016, overseeing new, used and fleet operations. Garbutt said: “I’m delighted to be appointed. Having been a part of the Group for almost 20 years’ I’ve seen the Group and our teams ...
Read More »Motorpoint losses hit -£8.2m in “most difficult year” ever
Motorpoint saw losses widen to -£8.2m in the year to March 2024 compared to losses of -£300,000 the prior period on turnover down 24.6% to £1.09bn. It said the market was the worst it had traded in with high interest rates, inflation, consumer uncertainty and higher finance stocking costs. Motorpoint was particularly hit by the smaller used car parc due ...
Read More »European Union to impose tariffs on Chinese cars
The EU is expected to announce today it is imposing tariffs on Chinese cars coming to Europe, according to reports. The EU is said to have notified car makers that it would apply additional duties of up to 38.1% on imported Chinese electric vehicles from next month, according to Reuters. This follows hard on the US imposing 100% tariffs on ...
Read More »Grange Motors unveils Rolls-Royce Motor Cars Edinburgh
Grange Motors unveiled its new Rolls-Royce showroom in Edinburgh last week. Julian Jenkins, director Sales & Brand Rolls-Royce Motor Cars, and Boris Weletzky, regional director Rolls-Royce Motor Cars were in attendance. Guests enjoyed bagpipes, a champagne reception, as well as a culinary experience prepared by Scottish chef Tom Kitchin. The showroom is located at One Corstorphine Road, Edinburgh, Midlothian, EH12 ...
Read More »Chinese carmaker Chery aims for ‘reasonable’ 100,000 UK sales a year by 2035
Chery has outlined a 10-year forecast to take 6% of the UK new car market, reaching 100,000 sales a year. Speaking on the BBC’s ‘The Bottom Line’, Victor Zhang, UK country manager for Omoda and Jaecoo parent firm Chery, denied that Chery had plans to flood the UK market with cars saying the brand was premium offer. He said that ...
Read More »Brayley hits the acquisition trail buying Honda and Suzuki dealerships
Brayleys is celebrating the purchase of two Honda dealerships and a Suzuki business from Crown Motors. Paul Brayley, CEO of Brayleys cars and West Way, took to LinkedIn to announce the move. “It gives me great pleasure to welcome our new team members to the Brayleys family following our recent acquisition of two Honda dealerships and our first Suzuki dealership ...
Read More »MT Top 200 reveals dealer groups with highest return on sales
The just published Motor Trader Top 200 Dealer Groups reveals the businesses delivering the highest return on sales across the sector. CEM Day tops the rankings once again with a return on sales of 12.7%. The company explained this performance in last year’s MT Top 200 as a result of diversity encompassing vans, car and van hire, HP and leasing ...
Read More »KGM Motors UK expands dealer network
KGM Motors UK has expanded its dealer network with the addition of RJTK Automotive’s Wilson & Co and Drayton Motors. Wilson & Co. Bolton, in operation since 2004, is located on Manchester Road, Bolton, Greater Manchester, BL3 2NY. Drayton Motors acquired in 2021, is located on Frith Bank, Boston, Lincolnshire, PE22 7BD. Kevin Griffin, MD at KGM Motors UK, said: ...
Read More »Price pressures on EVs hit Hedin Mobility in Q1
Hedin Mobility took a hit in the first quarter largely n the back of reduced operational earnings as margins fell in used EVs. It said some European counties had dropped EV subsidies and carmakers had responded with price cuts, leading to reduced margins in the used car market. The company turned a loss of SEK231m (-£17m) in the three months ...
Read More »