NEWS
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Bristol Street Motors opens new York dealership
As part of the investment at Bristol Street Motors York Renault Dacia, 15 new jobs have been created covering all areas of the business, including servicing, sales and administration. The dealership is also looking to support a young person to gain experience and qualifications by offering an apprentice service technician role.
Research highlights soaring second-hand car prices
The AA’s used car website reports that demand for some models is so strong that they are even appreciating with age. For example a three year-old Mini Hatch now costs 57% more than a model of the same age cost in 2019. But a five year-old model currently costs 15% more than a three year-old car did in 2019, meaning it has gained in value despite getting two years older.
LEASING & FINANCE
Consumers’ creditworthiness awareness drives change in dealer finance
Consumers are taking greater control of their finances empowered by digital tools and an increasingly active lending sector. It is a challenge the dealer finance community should recognise.
Leasing.com has best-ever September
Leasing.com’s data coincides with a strong year for the personal leasing market more broadly. The latest statistics from the Finance and Leasing Association (FLA) showed that the value of personal contract hire (PCH) contracts provided by funders grew faster than any other form of motor finance in the 12 months to August 2021.
AFTERMARKET & WORKSHOP
MG chooses Manheim for reconditioning contract
Partnership will see MVS recondition up to 6,000 rental buy-back vehicles per year, as well as supporting with new car preparation for an initial three-year period. The agreement coincides with an announcement from Cox Automotive that it will invest into electric vehicle charging points within its Coventry site – something that enhanced the appeal of the business to MG Motor UK.
When buying used people still want to speak to a person
While online is seen as the place people research their options and discover the vehicle that is of interest to them, the appetite to complete the purchase entirely online is low, albeit it has risen slightly compared to the pre-pandemic era. However, expectations for the ability to complete the car buying journey online is declining.
DEALER INSIGHTS
Government announces ZEV strategy
Zero Emission Vehicle (ZEV) mandate takes effect from 2024 and the Government will publish a consultation early next year along with CO2 emissions regulation to ensure standards in fleets are maintained, as well as how and when targets will be set and enforced.
Pandemic creates a digital divide for dealers
Covid has forced dealers to accelerate their digitalisation plans and that the sector had made huge progress, with a much greater number of solutions in place - but the capabilities of the technology adopted varied widely.
JOBS
CarShop boosts its presence in Yorkshire with fourth store
New store in Halifax follows a string of successful Express store openings for the retailer, with CarShop Express Leicester opening at the start of May and CarShop Express Leighton Buzzard opening just two months ago.
McLeod to take up VW UK Director role
He will re-join the Volkswagen Brand after four years as Director of ŠKODA UK. At ŠKODA, McLeod’s team delivered significant improvements across the business, including achieving record market share levels.
