Vertu drops Bristol Street & Macklin brands, as it reports strong results. JATO reports EV discounts double ICE cars. Industry news from Paris
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Vertu to drop Bristol Street and Macklin brands, as it reports strong H1 results. JATO reports EV discounts double those of ICE cars. Industry news from the Paris Motor Show.
Motor Trade Radio: 19 October 2024, E63, S10
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HEADLINES
CAR DEALER
Vertu to axe Bristol Street Motors and Macklin Motors names as it delivers strong half-year results
Vertu Motors’ dealerships will all wear ‘Vertu’ branding by April 2025 company bosses have announced, as the dealer group signed off on a strong set of half-year results. Posted on the London Stock Exchange this morning (Oct 16), the listed dealer group’s H1 FY25 results showed the company had made strong gains in a ‘fast-shifting market backdrop’.
Adjusted profit before tax was down by ￡8m on the same period last year, but still came to a very robust ￡23.5m.
MOTOR TRADE NEWS
JATO: EV discounts now double those of ICE cars
Discounts available to UK motorists buying new electric vehicles (EVs) are now almost double those offered to buyers of petrol and diesel cars, according to automotive analyst JATO. Transaction data compiled by JATO show that EV discounts have increased dramatically over the past 12 months by 53%?to an average of ￡5,006, whereas?the average discount across all new diesel or petrol-powered vehicles has risen only 13% to ￡2,652.
AM ONLINE
Completely Motoring dealer group seeks buyer to rescue it from administration
Completely Motoring, the company behind four Gloucestershire-based dealerships, including the Completely Suzuki franchise at Staverton, has confirmed that it has entered administration alongside the multi-franchise motorcycle chain. ?
FINANCIAL TIMES
European carmakers plan dozens of cheaper models to survive ‘EV winter’
European carmakers are planning dozens of affordable electric models next year as they brace for an “EV winter” driven by tough new EU carbon emission targets and fierce competition from China.
Ahead of this week’s Paris Motor Show, the big European manufacturers, which have also been squeezed by falling demand, are focused on recovering lost market share with new vehicles.
AUTOMOTIVE NEWS EUROPE
EU must cancel ICE ban to reduce reliance on China, BMW CEO Oliver Zipse says
Europe must cancel its plan to ban new fossil fuel-emitting cars from 2035 to reduce reliance on China's battery supply chain, BMW CEO Oliver Zipse said. The European Union's plan to ban the sale of combustion-engine cars from 2035 will lead to a "massive shrinking" of its automotive industry, Zipse said.
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1 个月There is a logic to Vertu rebranding BSM sites to Vertu, but I hope the pursuit of efficiency doesn't come at the cost of effectiveness.
Automotive Leader Success Coach ?? | Less Stress ?? More Success | ?? Automotive Trainer & Thought Leader | ??♂? Executive Coach & Mentor | ? Alcohol-Free Ambassador
1 个月An interesting point of view from BMW CEO Oliver Zipse to cancel ICE ban to reduce the reliance on China, as more and more China based franchise retailers are being created in the UK?