Vertu CEO Robert Forrester says the ZEV Mandate and 2030 ICE ban are “wreaking havoc in the motor sector”. In an op-ed last week, he said manufacturers are “exasperated” by the UK stepping out of line from the EU and US 2035 EV deadline. Ministers have been “caught in the headlights of their own policy […]
Read More →Retailers could see improved profit from finance sales once the legislation around commission payments has been clarified and finalised, according to Auto Trader CEO Nathan Coe. Speaking to Auto Retail Agenda, Coe said the “finance situation will work itself out, in future it will be more transparent and better for the consumer.” He said that finance was […]
Read More →In a weekend OpEd, business secretary Jonathan Reynolds said the government is determined to work with the car industry to increase take-up, boost jobs and hit emissions targets – but added the UK’s drive for EVs cannot be delayed or “our rivals will overtake us”. He said more than 2 in 3 OEMs had previously […]
Read More →BCA and Lithia have agreed a new exclusive five-year remarketing contract. BCA owner Constellation’s executive chairman Avril Palmer-Baunack said she was “delighted” Lithia’s exclusive remarketing deal will run until 2029 “and that they have trusted and invested in our partnership with their new consolidated UK group of companies and leadership”. Lithia is described as the […]
Read More →Transport secretary Louise Haigh and business secretary Jonathan Reynolds will meet with the auto industry on Wednesday amid reports the government is preparing to relax rules around the ZEV mandate. It comes amid claims the sales quotas “have pushed car makers to crisis point”. Haigh will also attend a bilateral meeting with Nissan today (Monday […]
Read More →The shock DCA court ruling “threatens to drive up costs for motorists and – in a worst-case scenario – bring the UK’s £100bn motor sector to a shuddering halt”. The Finance and Leasing Association’s Adrian Dally admitted to the Telegraph that disruption is rife. “We’re all immediately having to restructure to comply with this in […]
Read More →Retailers, OEMs and industry experts have given their views on the opportunity presented by new entrant brands in 2024. This week, the New Entrants Report 2024 will be published, offering invaluable insight and analysis for your business. The report also features full profiles of the 15 most important new entrants to have on your radar […]
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 →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 […]
Read More →Retailers have “clearly communicated their priorities to the next government” and delivered seven key ‘asks’, says the NFDA, ahead of the General Election this Thursday. In a statement, which Auto Retail Agenda exclusively saw ahead of launch, chief executive Sue Robinson said that key issues include the ongoing skills shortage and restimulating the private EV […]
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