September used car values & diesel upsurge afoot? Arnold Clark year-ends. PLUS updates on ICE U-Turn & Pendragon acquisition, as AutoNation join race
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September used car values. Used diesel upsurge afoot? Arnold Clark year-ends. PLUS updates on both the ICE U-Turn and Pendragon acquisition, as AutoNation joins the race!??
Motor Trade Radio: 30 October 2023, E59, 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's the links to all the stories.?
MOTOR TRADE RADIO?
Podcast interview: Derren Martin, cap hpi Full interview with cap hpi’s Director of Valuation on how used car values performed in September. ?
MOTOR FINANCE ?
Used diesel sales and prices set to rise following PM’s ICE ban extension ?
Sales of used diesel cars up to four years old accounted for just 16.1% of cars sold in August, but that may change in the future following Rishi Sunak’s delay on banning new ICE car sales until 2035.?INDICATA’s latest Market Watch report saw used diesel car sales fall to a record low in August while used petrol sales rose to 54.6% and hybrids and BEVs comprised 22.5% and 6.6% respectively.??
CAR DEALER ?
Investigation: What will happen to used car prices in 2024? When will used car prices fall? ?
What’s going to happen next to used car prices is becoming harder than ever to predict.?In this special investigation, Car Dealer spoke to a wide cross section of experts – from pricing specialists to advertising gurus – who were asked for their thoughts on the used car market. ?
CH After the break – we’ll have all you need to know about the impact of the ICE ban announcement and the latest developments on who’s buying Pendragon… ?
MOTOR TRADE NEWS ?
EV buyers consider switch to petrol and diesel as result of 2035 ICE ban shift??
THE government’s decision to delay the ban of new internal combustion engine (ICE) car sales until 2035 has cooled the appetite to transition to electric vehicles (EVs) among in-market car buyers, according to research by eBay Motors Group. The latest Consumer Insight Panel study, conducted immediately after last week’s announcement and polling the views of 2,004 car buyers, found 40% currently searching, or planning to buy an electric vehicle within the next six months will now either delay purchasing, buy an ICE car instead or transition when forced to. ?
REUTERS ?
UK's fossil fuel car ban delay may only stall investment ?
Britain's decision to delay a ban on new fossil fuel car sales may make little difference to the pace of a shift to electric vehicles (EVs), even though the news drew anger from automakers?worried about supply chains and investment uncertainty. ?
MOTOR FINANCE ?
领英推荐
ZEV mandate will continue unabated despite ICE ban delay ?
Government ZEV quotas on auto manufacturers to sell an ever-increasing percentage of zero-emission vehicles each year will continue despite the ban on sales of new petrol and diesel cars being delayed by five years. ??
AUTO RETAIL AGENDA ?
AutoNation bid for Pendragon matches Hedin/Penske ?
AutoNation, one of America’s largest retail groups, has joined the race to takeover Pendragon with a 32 pence-a-share offer which matches the current bid from the combined forces of Hedin Mobility Group and Penske.??
CAR DEALER ?
Car dealer group Pendragon wants ￡260m High Court action dismissed ?
Pendragon is trying to get a ￡260m High Court case for alleged breach of contract by a tech subsidiary dismissed.?Pinewood UK is facing legal action over its dealer management system by its reseller in the Asia-Pacific region Pinewood AP, as reported exclusively earlier this year by Car Dealer. ?
AM ?
Profits rise for Pendragon despite economy woes ?
Pendragon has delivered a positive set of trading results revealing pre-tax profits rising 10.6% to ￡36.4 million in the six months to June 30. ?
The owner of the Stratstone, Evans Halshaw and Car Store brands said like-for-like revenues increased 15% in a strong first half, which it said came "despite what remain challenging economic conditions, with pressure from higher interest rates and ongoing elevated levels of cost inflation". ?
CAR DEALER ?
Car dealer group Arnold Clark’s profits tumble for 2022 as increased costs take their toll ?
Pre-tax profit at the UK’s most profitable car dealership Arnold Clark plummeted by more than a third last year to ￡173.5m.?The top-ranking company in the current Car Dealer Top 100?of the UK’s most profitable dealerships said in its newly published accounts?for the year ended December 31, 2022 that despite a ‘positive trading performance’, it was hit by ‘significant increases’ in its underlying operational costs. ?
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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 eBay Motors Group.?
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