Following fears the new ICE market may slow in the second half of 2024, due to potential sales restrictions from brands eager to meet ZEV Mandate targets, there are fresh hopes used cars could take up some of the slack for retailers. Although Cox Automotive is maintaining its baseline forecast of 7.4m used cars sales in 2024, […]

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Renault retailers can expect to add a fifth brand to their showrooms from next year with the launch of Mobilize. Mobilize is the French firm’s finance house, but is also the division that will sell the Twizy replacement called Duo, and commercial vehicle version called Bento. Mobilize will sit alongside Renault, Dacia, Pro+ and Alpine […]

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More than 125 Subaru retailers last week heard new MD Lorraine Bishton rule out the agency model and commit to franchised retailers. “The dealer model is here to stay,” she said. “People buy from people.” The event in North Yorkshire was part of a renewed focus on the Subaru brand by parent IM Group, which […]

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Inchcape has revealed it is to sell its UK retail division to US-owned Group 1 for £346 million. The sale is expected to complete during Q3 2024 and involves £100m being returned to Inchcape shareholders through a share buyback programme. Sales plans Inchcape revealed it was considering selling off the UK retail arm earlier this […]

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Lookers has opened its £6 million new and used vehicle multi-franchise hub in Middlesbrough. As well as multi-franchise vehicle sales, the centre will focus on all-electric driving including specialist servicing, maintenance and body repair. The site also houses Ford and BYD dealerships. Lookers’ investment in the site will contribute towards Middlesbrough Council’s ambition of becoming […]

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Hyundai will reduce its retail partners by almost a third but increase the number of franchise points to 173 over the next four years. Speaking exclusively to Auto Retail Agenda, the brand’s business transformation director, Nick Tunnell, said the manufacturer planned to reduce the number of retail groups it deals with from 75 to 54 […]

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JLR will review its recent decision to stick with the franchised model and look again at agency in late 2027, according to UK managing director Patrick McGillycuddy. Speaking exclusively to sister title Auto Retail Bulletin, McGillycuddy said: “When you look at the amount of change that we are already planning to implement, the amount of change we’d […]

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Jaguar Land Rover has unveiled a new “refined” franchised model with “key adaptions”. The decision is a departure from JLR’s former stated intention to move to pure play agency this year. Following the reveal, dealers embraced the fact that their views had been acknowledged and said the franchised model was “robust” and provided “stability” for […]

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Octopus Energy is to double its EV leasing fleet to 30,000 vehicles after securing a £550m debt deal. Around 4,000 workplaces, including Dyson, McLaren and Innocent Drinks, offer Octopus EV schemes. Octopus EV chief executive Fiona Howarth said the division has more than tripled its fleet in the past year, with revenues growing from £5m […]

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Cazoo is facing a funding crisis and must persuade shareholders to agree to an urgent cash injection – and is understood to be preparing contingency measures including new investors, a sale or beak-up of the company, and asset sales. If fresh funds can’t be found, it will be forced to consider administration. The Telegraph reports […]

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