Big Motoring World has acquired three dealerships from CarShop, Sytner Group’s used car supermarket division. This acquisition follows the opening of three Big sites in 2023 and represents a continuation of Big Motoring World’s aim to achieve national coverage. CarShop’s Norwich and Sheffield sites are reopening with the Big Motoring World branding this month. The […]
Read More →5,000 retailers now use the Motorway platform and, to date, it has sold more than 500k cars. CEO Tom Leathes says the success is through following a fundamentally different business model to Cazoo, operating as a marketplace which now handles 5% of all used car sales in the UK. Leathes now wants Motorway to become […]
Read More →Penske, which owns Sytner in the UK, has bought Bill Brown Ford of Michigan, the world’s largest Ford retailer by sales volume. Established in 1941, it will add $550m (£425m) to Penske’s revenue. The Bill Brown name will remain on the business.
Read More →Mon Motors has acquired seven Volkswagen Group retailers from Heritage Automotive. They include Bristol Seat, Cupra, Skoda and Volkswagen, Gloucester Skoda, Cupra, Seat and Volkswagen, and Weston-Super-Mare Skoda and Volkswagen. According to bespoke industry data from Auto Retail Network, the deal leave Heritage with two Audi, one Honda, two Ineos, one Skoda and three Volkswagen sites […]
Read More →James Brearley has been appointed managing director of Lookers following the takeover of the group by Canadian Kuldeep Billan’s Alpha Auto Group at the end of last year. James Brearley The appointment fills the gap left by former Lookers chief executive Mark Raban who left at the end of 2023. Lookers also lost chief operating officer Duncan […]
Read More →Major new Chinese new entrant brands showcased their product line-up at this year’s Goodwood Festival of Speed – an event which other major OEMs chose to skip. BYD, Denza, Hongqi, Jaecoo and Omoda all had huge stands at the popular annual events, and also took part in live demonstrations up the famous Goodwood hillclimb. Denza and Jaecoo […]
Read More →Carwow has secured backing from Bessemer Venture Partners, one of the world’s oldest venture capital firms, in a funding round that values the online marketplace at £250m. San Francisco-based Bessemer was an early backer of LinkedIn and Pinterest. Existing shareholders Accel, Balderton, Episode 1 and Vitruvian also invested in the funding round of $52m. Chief […]
Read More →Remarketing firm Autorola predicts used Diesel values are set to rise on the back of falling new Diesel car sales. Used demand and prices were “very strong” in Q2 and it forecasts the market will eventually reach a tipping point where used Diesels rise in price due to restricted supply.
Read More →Snows Motor Group has taken on the Chinese BYD brand in Basingstoke, joining its BYD Southampton dealership. The new showroom is next to Snows’ existing Peugeot dealership in Aldermaston Road South. BYD models currently available in the UK are Dolphin, Atto 3 and Seal, and are on display. The Seal U DM-i is a plug-in […]
Read More →Gravells Limited saw profit before tax in the year ended December 2023 grow from £2.4m to £4.6m – a return of 3.6%, up from 2.3%. Turnover was also up, from £107m to £130m. The Wales and Hereford retailer said growth has been helped by new value-added products and services, investment in its underlying systems and […]
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