BIG goes bigger with CarShop acquisitions. Motorpoint turns a corner in Q1. DfT confirms the 2030 ICE ban. Mon acquires sites.
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BIG goes bigger with CarShop acquisitions. Motorpoint turns a corner in Q1. DfT confirms the 2030 ICE ban. Mon acquires sites.
Motor Trade Radio: 27 July 2024, E46, S10
If you enjoyed this week’s Motor Trade Radio podcast, powered by MOTORS, and want to dig deeper into our featured headlines, then here are the links to all the stories.
HEADLINES
CAR DEALER
Big Motoring World completes deal for used car supermarket sites from axed Carshop brand
Big Motoring World has completed the purchase of three sites from axed used car supermarket group Carshop. Car Dealer reported last week that the Kent-based outfit was in talks over multiple premises, after Sytner killed off the CarShop name as part of a major-shake up of its operations.
CAR DEALER
Sytner completes the rebrand of nine Carshop used car supermarkets
Sytner has now completed the rebranding of its Carshop used car supermarkets to Sytner Select sites. The UK’s second most profitable car dealership group in the UK – according to the Car Dealer Top 100 – has just finished the work on its final store in Manchester.
AM ONLINE
Motorpoint rebounds after challenging 2023 with strong Q1 retail sales growth
Used car supermarket Motorpoint’s faith in the future is being rewarded after a difficult 2023, reporting strong retail first-quarter sales growth. Expecting to meet its full-year goals, the company noted its healthy net cash position of around ￡6.5 million following the repurchase and cancellation of 2.5 million shares for ￡3.5 million.
领英推荐
CAR DEALER
Cinch launching used car dealerships across the UK with first one on former Cazoo site
Online used car retailer Cinch is to open four dealerships with more to follow, it announced today. The first one will launch next week on a former Cazoo site in Northampton. Others will follow in Birmingham, Bristol and Manchester this month and next, with more planned later this year.
FLEET NEWS
DfT confirms ban on sale of new fossil fuel cars from 2030
The Department for Transport (DfT) intends to “provide certainty” to manufacturers by restoring the 2030 phase-out date for the sale of new petrol and diesel cars. While there was no mention of the changes in the King’s Speech,?which sets out the Government’s legislative plan, the DfT told Fleet News?it intends to publish further details in “due course”.
AM ONLINE Mon Motors expands with takeover of seven Volkswagen Group showrooms
Mon Motors has doubled its representation of Volkswagen Group brands with an acquisition of dealerships in the West Country. The family-owned dealer group?has taken over Bristol Skoda, Bristol Cupra and Bristol Volkswagen, plus Gloucester Cupra and Gloucester Skoda, Volkswagen Weston-super-Mare and Cheltenham Audi from Heritage Automotive.
CAR DEALER
Forty jobs to go as Ken Brown Motors shuts two Hyundai dealerships
Forty people will lose their jobs today when Ken Brown Motors closes its Hyundai sites in Richmond and Letchworth. The new and used car dealer group, which has held the Hyundai franchise in Richmond since 2018 and Letchworth since 2019, said it had been waiting for an assured renewal contract from the manufacturer following the national network termination in May.
We hope you enjoyed this week’s roundup of the big car retailing stories. Catch #AllTheChatterThatMatters?on Saturday mornings on the Motor Trade Radio podcast, powered by MOTORS.
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Automotive Leadership Coach ?? | More Success Less Stress | ?? Automotive Trainer & Thought Leader | ??♂? Executive Coach & Mentor | ? Alcohol-Free Ambassador | ??Poetry lover
7 个月One dealer group sells a number of it's dealerships and now employees work for a company they didn't choose and 40 people lose their jobs in another dealer group because of roadworks, brand requirements, a lack of alternative sites, and probably a number of other issues in the mixing pot, isn't that just another reminder that employee's are not always in control of their destiny. As I keep saying, "A job exists while someone somewhere wants something done by someone, until they don't"