Tag Archives: Car

City Auction Group will launch a new 28-acre site to house the Headquarters of its logistics business, PurpleRock, in September. This will expand capacity with an additional 5,000 vehicles across defleet, logistics and secure storage. The site will be located off the A1, north of Peterborough. Michael Tomalin, CEO of City Auction Group, said: “This is a game changer for ...

NextGear Capital, the wholesale funding firm, and online auction platform 1link Trade Buyer have joined forces to help trade buyers source and fund stock in just a few clicks. The new arrangement means NextGear Capital customers can instantly add vehicles purchased on epyx’s 1link Trade Buyer to their Stocking Plan, easing the buying process and opening the platform to them ...

Sales of LCVs fell -8.5% in July with 24,689 units registered, according to the latest figures the Society of Motor Manufacturers and Traders (SMMT). The performance is in comparison with a strong July in 2023 – the best in three years – however, which came amid a record-equalling 17 consecutive months of market growth. The SMMT said the overall market ...

Dealers increased used stocks in March 2019, but sold cars faster than they did 12 months ago. Motors.co.uk found that despite the new 19-plate, used forecourts were busy in March with dealers stocking an average of 66 cars, eight more than 12 months ago, and seeing their average days in stock fall from 41 to 39. Petrol won the fuel ...

New car buyers are turning to shorter lease lengths with less money upfront. This, says Leasing.com, is down to Brexit and general new car market uncertainty. Data shows that enquiries for 18-month lease deals with a one-month initial payment increased 190% year-on-year in March. Paul Harrison, head of strategic partnerships at Leasing.com, said: “As uncertainty takes a bite out of ...

The used market fell 0.9% at the three-year, 60,000-mile mark, in March. Cap hpi reports an overall decline of 2.1% over Q1 of 2019, and a 3.3% negative swing compared to value movements in the same period a year ago. However, it does not see this as a result of Brexit uncertainty, but rather an example of a gentle, downward ...

Dealers held higher levels of used car stock in February than they did in the same month last year. The monthly analysis, from Motors.co.uk shows the average dealer increased year-on-year stock levels in February from 59 to 66 cars, while average days in stock remained unchanged at 44. Stock levels in franchised sites averaged 62 cars in February, taking 49 ...

Car supermarket Motordepot is featuring free vehicle history data alongside dealer stock advertised online, which is an industry first. This is the result of collaboration with trade-only vehicle check provider, MotorCheck and automotive software specialist Nexus Point. Buyers can confirm that the vehicle they are looking at has been checked for insurance write-off flags, stolen markers and mileage discrepancies. The ...

Finance broker Evolution Funding has secured investment from mid-market private equity investor LDC. This sees LDC take a significant minority stake in the business. Evolution Funding’s Evolve is used in car dealerships and online purchasing. The investment reflects the buoyant finance market, which saw used car finance grow by 13% in 2018, reaching £17.5bn. Overall, 2018 saw a 7% rise ...

SsangYong has appointed Haven Motor Company as part of its franchise. The dealership will operate from its premises at Handcross Road, Plummers Plain, Horsham. The appointment is part of SsangYong’s push to attract new dealers on the back of the launch of its new Rexton and Musso pick-up. Nick Laird, managing director of SsangYong Motor UK said: “We and our ...