Dealer profitability declines need context, Fleet & OEM relations are strained plus tariffs and policy shifts loom
Motor Trade Radio Podcast
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Motor Trade Radio: 8 June 2024, E36, 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.
Charity walk for CALM in memory of late ATG and Nissan executive Mark Hamilton
A charity walk in memory of former ATG, Nissan, Audi and Mercedes-Benz executive Mark Hamilton will take place at the end of June.
The walk, at Windsor Great Park on June 30, will raise funds for the Campaign Against Living Miserably (CALM) anti-suicide charity.
Inspirational Jacqui Barker wins Barbara Cox Woman of the Year Award
Jacqui Barker, global OEM strategy director at Keyloop, has been named Barbara Cox Woman of the Year 2024.
She was among six women shortlisted for the award, which was presented at a special Cox Automotive Women with Drive event in Bruntingthorpe, Leics, on June 5.
Car Dealer
Fleet operators still not acting fast enough to keep pace with change, says AFP
Large companies with fleets shouldn’t rely solely on outsourcing vehicle management
Fleet operators not keeping up with the transition to alternative fuels, says trade body
Political party manifestos failing to address regulation and labelling of vehicles to simplify management processes
Car Dealer
Losses deepen at Cambria Automobiles in second year of trading after leaving stock market
Cambria Automobiles publishes accounts for year to August 31, 2023
Turnover dropped by almost a fifth
Pre-tax loss worsened by 6% to more than ￡1.3m
Motor Trader
Decline in used car values hits Barretts of Canterbury profits
Rapidly falling used car values impacted profits at Barretts of Canterbury last year. The group saw pre-tax profits fall 56.9% to ￡2.2m on turnover up 6% to ￡276.5m. Last year Barretts of Canterbury sold 2,540 new cars, an increase on the 2,260 units sold in 2022. Used car sales declined to 2,740 compared to 2,960 the prior year.
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Car Dealer
Used car supermarket Motorpoint suffers massive deepening of losses in its ‘most difficult year’
Motorpoint publishes its results for year to March 31, 2024
Revenue is down by nearly a quarter to ￡1.09bn
Underlying pre-tax loss widens by 2,633% to ￡8.2m
Brokers are confident about its future, though
Family-run JCT600’s profits slide as move to agency hits turnover and franchises are ditched
JCT600 publishes its accounts for 2023
Dealer group’s turnover dropped by 2.8%
Pre-tax profit is down by 16.3%
Mercedes’ move to agency model cuts group turnover by ￡64m
But it delivers record sales of ￡1.414m
AM Online
Chinese car brands developing franchise networks most likely to succeed, dealers say
Chinese EV manufacturers adopting a traditional franchise model are being tipped for successful UK market entry, according to the latest dealer survey from Startline Motor Finance.
According to June’s Startline Used Car Tracker, 36% of dealers reckon Xpeng is the Chinese electric vehicle (EV) manufacturer most likely to succeed in the UK followed by Omoda (34%), BYD (31%), Lynk & Co (24%) and Nio (24%).
FT
EU to impose multibillion-euro tariffs on Chinese electric cars
Brussels moves ahead with additional duties of up to 25% despite opposition from Germany
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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