Price pressures on EVs in challenging market hit Hedin Mobility in Q1
Motor Trader Magazine
by John Kirwan
2d ago
Hedin Mobility took a hit in the first quarter largely n the back of reduced operational earnings as margins fell in used EVs. It said some European counties had dropped EV subsidies and carmakers had responded with price cuts, leading to reduced margins in the used car market. The company turned a loss of SEK231m (-£17m) in the three months to march on sales up 32% to SEK23585m £1.7bn Hedin Mobility CEO Anders Hedin (pictured) said the quarter had been characterised by “caution”. “The considerable and relatively rapid increase in the interest rates has resulted in a decline in the order intak ..read more
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Financial Ombudsman proposes fees for claims management firms
Motor Trader Magazine
by John Kirwan
3d ago
The Financial Ombudsman Service is proposing to charge Claims Management Companies and legal firms up to £250 to lodge a case, reduced to £75 if the case outcome is in favour of the consumer. The proposals could impact the motor finance market with claims management firms looking to bring cases based on historical commission payments. The service remains free to those who bring their case directly to the service, as well as families and friends, charities, and voluntary organisations who may be helping them. The proposed new case fees are detailed as part of a consultation launched by the Fina ..read more
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Manufacturer-backed tactical registrations rise 39%
Motor Trader Magazine
by Jasleen Mann
3d ago
Car supply is now close to pre-Covid levels but a consistent increase of manufacturer-backed tactical registrations could contribute to damaging used car values, INDICATA UK suggests. Manufacturer-backed tactical registrations increased by 39% in April, according to INDICATA UK’s latest Market Watch. Dean Merritt, INDICATA UK’s head of sales, said: “The used market continues in its healthy state as supply and demand remain finely balanced. “If the volume of nearly new used cars getting pumped into the market continues to increase it will impact the used values of all cars, not just EVs. “Used ..read more
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Humphries and Parks opene Suzuki dealership in West Malling
Motor Trader Magazine
by John Kirwan
3d ago
Humphries and Parks has opened a new Suzuki dealership in West Malling, Maidstone bringing the brand to north and mid Kent. The family-owned and run dealership now offers a large range of new, used and Motability Suzuki vehicles, as well as providing a full Suzuki aftersales service and parts operation. Humphries and Parks has been in business for 77 years and had a presence West Malling for 45 of those years. The opening of the Suzuki dealership has created five new vacancies within Maidstone. Marcus Joy, managing director at Humphries and Parks, said:  “We are incredibly proud to repres ..read more
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G3 Vehicle Auctions acquires Cazoo Wholesale
Motor Trader Magazine
by Jasleen Mann
4d ago
G3 Vehicle Auctions has acquired the Cazoo Wholesale business to create a new ‘G3 Bedford’ auction facility which will undergo a ‘seven-figure’ investment over the next 12 months. The centre will be fully operational with a newly formed sales schedule being released soon, continuing operations as it undergoes development. G3 has secured the premises, land and existing experienced remarketing team from Cazoo, and software assets to add to their G3 Castleford flagship centre. G3 also intends to relocate its existing Pool Fleet operation to this facility. The new Bedford site will be an addition ..read more
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EVs ‘easier to sell’ when priced the same as petrol cars
Motor Trader Magazine
by John Kirwan
4d ago
More than half of dealers (53%) say that electric vehicles (EVs) become much easier to sell when they are priced the same as petrol cars. May’s new Startline Used Car Tracker also shows that a third (32%) think that EVs have become generally easier to sell in 2024. Paul Burgess, CEO at Startline Motor Finance, said: “The large reductions in prices and values seen for EVs in the last year or so have received a lot of attention, and mean we are now in a situation where many comparable used EVs and petrol models are priced at around the same level. “What dealers are telling us in the reseach is t ..read more
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Affordability remains ‘biggest barrier’ to mass adoption, says Auto Trader
Motor Trader Magazine
by Jasleen Mann
4d ago
Affordability remains the biggest barrier to mass adoption of EVs in the UK, according to Auto Trader’s latest Road to 2035 Report. Three-quarters of new EVs are being advertised with a discount, and average prices are falling for seven in 10 new electric models. However, affordability is still a concern even in the used electric market experienced 20 consecutive months of price drops. Ian Plummer, commercial director at Auto Trader, said: “A growing trend towards electric consideration is fantastic news but for this to be a fair and equitable transition – and, crucially, for expanding intere ..read more
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Suzuki GB’s opens new dealership in Kent
Motor Trader Magazine
by Jasleen Mann
4d ago
Suzuki GB has announced the recent opening of its Humphries and Parks dealership in West Malling, Kent. Humphries and Parks has served customers in the automotive industry for 77 years. For 45 of those years, Humphries and Parks strengthened its presence in West Malling. Dale Wyatt, director Automobile Suzuki GB PLC, said: “We are delighted to partner with Humphries and Parks to bring the Suzuki brand to a wider audience in Maidstone. “Their long-standing reputation for excellence aligns perfectly with Suzuki’s commitment to providing exceptional customer service and high-quality vehicles. “T ..read more
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Eden Motor Group awards loyal customer £10,000 in prize money
Motor Trader Magazine
by Jasleen Mann
4d ago
Eden Motor Group announced Mr. Robin Giles as the winner of their annual £10,000 VIP prize during a surprise ceremony on Wednesday 15 May. The event which selects one customer at random to receive £10,000 alongside their new car took place at the Christchurch showroom. Mike Taylor, general manager at Eden Motor Group Christchurch, said: “With a history of purchasing 6 cars from our Christchurch dealership since 2008, Mr. Giles is not just a valued customer but also a dear friend of the company.” Mr. Giles expected to drop off his car for a routine service but was presented with a £10,000 cheq ..read more
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Marshall’s new multi-million pound JLR showroom is open
Motor Trader Magazine
by Jasleen Mann
4d ago
Marshall Motor Group’s new Jaguar Land Rover Cheltenham & Gloucester has opened on Ashville Business Park in Staverton. Marshall invested more than £10m in the development of the new showroom. It features an under cover drive-in service reception, seven car showroom, 18 bay workshop, dedicated MOT lanes, cosmetic repairs and a client lounge. Martin Casha, Marshall CEO said: “Our new development in the Cotswolds region represents another step in Marshall’s growth and investment strategy for the brand. “The road network feeding our new facility is in a perfect M5 / A40 corridor location sit ..read more
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