Stellantis announced results for H1 2024, including €85.0 billion of Net revenues, down 14% y-o-y, and €5.6 billion in Net profit, down 48% y-o-y. Lower financial performance in the first half of 2024 has been attributed to lower volumes and mix. Lower volumes would be the result of inventory reduction initiatives, temporary product production gaps ... This story continues at Stellantis revenues and profit take hit in H1 Or just read more coverage at Motor Trader ..read more

The newly redesigned CUPRA Formentor (pictured) and CUPRA Leon are now available to order in the UK with pricing starting from £33,450 OTR and £31,090 OTR, respectively. A starting price of £33,370 OTR has been set for the new CUPRA Leon Estate. Designs feature a striking, shark-nose front end with an integrated CUPRA logo, triangular ... This story continues at Newly redesigned CUPRA Formentor and CUPRA Leon available to order Or just read more coverage at Motor Trader ..read more

Drivers are still paying too much for fuel as increases in retail fuel margins cost drivers over £1.6bn in 2023, according to the Competition and Markets Authority (CMA). Retailers’ fuel margins are still significantly above historic levels while supermarkets’ fuel margins are around double what they were in 2019. Sarah Cardell, Chief Executive of the ... This story continues at Increases in retail fuel margins cost drivers over £1.6bn in 2023, says CMA Or just read more coverage at Motor Trader ..read more

Evolution Warranties agreed a deal with GSF Car Parts for an exclusive new programme for dealers to save thousands on parts. Evolution Prep Direct (EPD) will enable dealers to significantly reduce vehicle prep costs while increasing profitability. The programme is available across the UK, including Northern Ireland, from over 190 outlets with same day and ... This story continues at Evolution Warranties strikes deal with GSF to save dealers thousands Or just read more coverage at Motor Trader ..read more

The average three-year-old used electric car is now 43.8% cheaper than 18 months ago, according to INDICATA UK. A 2.0% price fall was experienced by used EVs in June, resulting in price parity between equivalent EVs and ICE cars. Dean Merritt, INDICATA UK’s head of sales, said: “Our latest used EV trends do not make enjoyable reading for leasing companies who have got used cars to sell at the end of customer contracts. “Some are turning to secondary leasing for their younger lower mileage used EVs as a means of reducing the residual value pain, which also helps to reduce the chance of ex-flee ..read more

UK car production fell -7.6% in H1, according to the Society of Motor Manufacturers and Traders (SMMT). Factories turned out 416,074 units, 34,094 fewer than in the same period in 2023. A -26.6% decline in June was caused by multiple model changes. Manufacturers also turned their attention to electrified models following £23.7 billion of UK investment announced last year. Mike Hawes, SMMT Chief Executive, said: “The UK auto industry is moving at pace to build the next generation of electric vehicles – a transition that can be a growth engine for the entire British economy. “The new government ..read more

Steven Eagell Group has adopted eDynamix’ Workshop+ module at various locations, with the rollout across the Group expected to continue over the coming weeks. The system’s capabilities are being explored by Steven Eagell Toyota Chelmsford where Workshop+ was deployed on Monday. Workshop+ is expected to be beneficial for skilled technicians. Technicians will carry out each Workshop using an App on an iOS or Android tablet device, selecting the relevant template, taking any necessary pre-inspection photographs and completing all checks. The Group’s dealerships are distributed across Bedfordshir ..read more

Group 1 has reported revenues of £3.6 billion and profit of almost £600 million in Q2. The dealer Group, which operates 206 dealerships across the UK and the US, has been focus on expanding its geographic footprint. Daryl Kenningham, Group 1’s President and CEO, said: “Our U.K. team remains focused on the acquisition of Inchcape’s U.K. retail automotive business planned for Q3 2024, and we look forward to the successful completion of the transaction which will further strengthen our U.K. presence through the addition of quality assets with an expanded geographic footprint.” The integration of ..read more

Cap hpi has partnered with vehicle recycling company SYNETIQ to receive information on salvage total loss vehicles. The data agreement will ensure vehicle provenance checks give a clearer picture of a vehicle’s history. The enhanced vehicle search will include a history of incidents and total loss. Jon Clay, identification director at cap hpi, said: “The data agreement with SYNETIQ and the additional integration of Audatex data, is part of our ongoing journey to enhance the HPI Check. “As technology and data advance, we are able to connect parts of the industry to increase transparency across ..read more

The Honda e:NY1 is July’s most in-demand new EV, according to Auto Trader. Generating more enquiries than all other models, the vehicle also accounted for more than one in every 10 EV leads sent to a retailer. Affordability is key as the model’s rise to the top has been attributed to a combination of large discounts, deposit contributions and finance offers. Auto Trader’s new car performance director, Bex Kennett, said: “It will be interesting to see what other tactics manufacturers deploy over the coming months to move the needle, as they try to balance volume with the increasing pressure of ..read more