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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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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Ford is planning to cut more than half its current retailer network in time to for a switch to agency sales, according to Auto Retail Agenda sources. It is understood the network was issued with termination notices last year and it was known a cut back was planned. However, final numbers for those that will survive […]

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Canada’s Alpha Auto, through its UK entity Global Auto Holdings, has increased its takeover offer for Lookers to 130p a share. Global Auto Holdings, referred to as Bidco, has also announced that the increased offer will switch to a takeover offer for Lookers. Today’s takeover offer differs from the original scheme offer in the way voting for […]

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In April, the average price of a used car was £17,843. This represents a 1.5% rise on March levels and the largest monthly increase since November 2021. While used car prices have grown on a year-on-year (YoY) basis for 37 consecutive months, the rate of growth has gradually lessened since April 2022 which saw a […]

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Claims companies and no-win, no-fee law firms are increasingly targeting motorists who have taken out car loans as they believe car finance “could be brewing the next big mis-selling scandal”. Car finance has grown to be the second most popular type of household borrowing after credit cards, with 6.8m customers. However, complaints have also grown, […]

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The NFDA has raised concerns that replacing current retained block exemption rules (MVBER) with an aftermarket instrument “broadly in line with the status quo” does not go far enough to retain today’s “healthy levels of competition” in UK automotive marketplaces. The draft Motor Vehicle Agreements Block Exemption Order (MVBEO) “may leave too much unsaid”, says […]

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Hyundai Motor UK has promoted Managing Director Ashley Andrew to the role of President with immediate effect. Andrew joined the company as Sales Director in 2018 before becoming Tony Whitehorn’s successor as MD. He will continue to lead the UK business, “solidifying Hyundai’s premium volume positioning” and “driving the change to a smart mobility future”, Hyundai said. […]

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Lookers has issued a trading statement for the year to December 2022. The group has reported a stronger than expected performance. Underlying profit before tax for the full year ended 31 December 2022 will exceed £80m. This compares with £90.1m the previous year which included £9.8m of COVID support. CEO Mark Raban said: “We’ve enjoyed […]

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A substantial number of December registrations has helped Volkswagen retain its position as the UK’s best selling new car brand. This performance kept the Volkswagen brand ahead of its US rival, Ford. The German carmaker topped the rankings with 131,850 registrations despite a 10% full-year reduction in registrations. VW delivered 13,118 vehicles in December to […]

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