Canadian buyer swoops on Lookers! Cambria’s first FY since delisting. Most/least reliable used brands. Pricing rules for buyers.
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Canadian buyer swoops on Lookers; rival bid not ruled out; industry reactions! Cambria’s first FY since delisting. Most/least reliable used brands. Pricing rules for buyers.?
Motor Trade Radio: 24 June 2023, E38, S09?
If you enjoyed this week’s Motor Trade Radio podcast, powered by eBay Motors Group, and want to dig deeper into our featured headlines, then here are the links to all the stories.?
HEADLINES?
FINANCIAL TIMES??
Canada’s Alpha Auto to buy UK dealership Lookers for ￡465mn
The deal has been approved by both boards but still requires shareholder approval. One of Lookers’ largest shareholders with a 20 per cent holding is Constellation, the UK-based company that also owns dealer group Marshalls as well as We Buy Any Car and online retailer Cinch.???
CAR DEALER??
Rival Looker's bid could knock out Canadians as shareholders reveal their price??
The door is open for a rival bid to the ￡465m offer tabled by a Canadian firm for car dealer group Lookers – and a price that’ll pique attention has been outlined too.??
THE TIMES??
Investors failed to kick the tyres at Lookers??
Some takeover deals cause doublethink. Take Alpha Auto Group’s ￡465 million agreed cash bid for car dealer Lookers. On the face of it, a 120p-a-share offer seems an okay price for what, just a few years back, looked a right old banger. Yet isn’t it the latest proof of something else, too: that the wheels are coming off the UK stock market???
CAR DEALER??
Cambria profits increase in 2022 as firm flourishes in private hands away from Stock Market??
Cambria Automobiles increased profits to ￡26.2m in 2022 as it consolidated its dealerships and added new brands to its roster.?In the group’s first set of financial results, since it left the Stock Market, Mark Lavery’s firm revealed turnover increased marginally to ￡566.2m from ￡563.1m the year before.??
AM ONLINE??
领英推荐
Most and least reliable used cars revealed by What Car???
Suzuki has topped What Car?'s latest reliability survey, but luxury cars and SUVs were highlighted as the most problematic segments. What Car? has analysed feedback from 25,000 car owners in association with MotorEasy for used cars aged between six and 20 years old.??
CAR DEALER??
Used car buyers motivated by pricing rather than brand loyalty according to new study by eBay Motors Group??
Most used car buyers are motivated by a vehicle’s price rather than a sense of brand loyalty, a new study has shown.?Data collected as part of eBay Motors Group’s latest Consumer Insight Panel found that the starting point for most consumers is finding a car within budget.??
MOTOR TRADER??
International Motors to recruit 25 UK dealers for B-ON eLCV brand??
International Motors is to distribute B–ON electric light commercial vehicle in the UK.??
It said the German eLCV brand will offer fleets a greener alternative to traditional ICE delivery vehicles.??
AM ONLINE??
Donnelly Group predicts 30% fall in new car market in Northern Ireland due to EVs??
Donnelly Group saw pre-tax profits fall by 10.2% to ￡5.3m last year and is predicting a dampening of the new car market due to electric vehicles (EV). The Northern Ireland-based group posted its account for 2022 to Companies House and reported a 4.5% drop in turnover to ￡252 million and an operating profit performance that was down by 12% to ￡5.7m.??
?We hope you enjoyed this week’s roundup of the big car retailing stories. Catch?#AllTheChatterThatMatters?Saturday mornings on the Motor Trade Radio podcast, powered by eBay Motors Group.?
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