Europe’s new car market struggled during 2024’s first quarter, thanks to persistently high inflation and interest rates causing a slowdown in demand. That’s according to latest data from JATO Dynamics for 28 European markets, which revealed year-on-year declines in registrations in 23 countries. Registrations totalled 1,377,541 units last month – a 2.7% decrease versus March 2023. But registrations in Q1 were up by 4.8% on Q1 2023 at 3,380,048 units. Felipe Munoz, global analyst at JATO Dynamics, which sponsors the Car Dealer Podcast series, said: ‘Although registration figures for the first ..read more

The clock is ticking relentlessly towards the deadline for entries to Car Dealer Power 2024! There are now just 22 days to go before our grand survey of suppliers and manufacturers finishes. It’s your golden opportunity to honour the suppliers who have done you proud over the past year, as well as the car manufacturers you think are the best to represent – but you’ve only got until Friday, May 17 to do so! These awards are unique because they’re voted for by those who matter the most – the dealers. We launched this year’s Car Dealer Power in February and – as always – dealers have been fallin ..read more

Drive Motor Retail has opened a standalone MG dealership in Scarborough. It sees the marque hived off from the nearby site in Seamer Road that it shared with Hyundai, and is the only franchised MG dealership in the area. Servicing and repair facilities are also part of the site’s offerings, including MOT testing, with Motability specialists on hand as well to offer advice on the range of adaptable vehicles. Carl Prescott, Drive MG Scarborough general manager, said: ‘We are excited to announce the opening of our prestigious new MG dealership in Scarborough. ‘This marks a significant milestone ..read more

Global automotive distributor Inchcape enjoyed a 5% growth during the first quarter of the year, it announced this morning. The UK-based company said group revenue between January 1 and March 31 reached £2.3bn – not including its retail division, which it said was now a discontinued operation following the £346m sale agreement to Group 1 Automotive announced on April 15. In its trading update, it hailed the ‘positive start to 2024’, saying there had been continued outperformance in Europe, thanks to accelerated supply, plus more momentum in the Asia-Pacific (Apac) region including Hong Kong a ..read more

Labour vows to be the most ‘pro-business government’ UK has ever seen Labour’s ‘number one mission’ is to expand the economy by being ‘more pro-business than Tony Blair’, shadow chancellor Rachel Reeves has said. The Leeds West MP said she believes her pro-business approach will be ‘the way to improve living ­standards and to achieve our potential’ as a nation ‘by unlocking private business investment’. Reeves told The Times: ‘If I become chancellor, the next Labour government is going to be the most pro-business government this country has ever seen.’ Ex-England star John Barnes banned as com ..read more

Automotive industry charity, Ben, is offering car dealers the chance to have their own ‘MOT for their physical and mental health’. The outfit has launched Ben Health Checks, which can be booked by any automotive employer for their employees. The service offers automotive workers the chance to have one-on-one conversations with a medical professional about their physical and mental health. It is hoped that the offering will help to flag up potential health issues, allowing people to make positive changes. Ben is offering two types of health checks; one focusing solely on physical health, which ..read more

Tesla has announced drastically reduced sales, revenue and profit figures for the first quarter of 2024. Figures posted by the EV giant show that the Texas-based outfit made $1.13bn (£0.91bn) in the first three months of the year, compared with $2.51bn (£2.02bn) in the same period 12 months ago. Revenue also fell to $21.3bn (£17.1bn) – down 9% from last year – as slowing EV demand sparked a 9% drop in sales. Elsewhere, the company’s net income plummeted 55% in a difficult set of results for Tesla and its controversial boss, Elon Musk. The company’s gross profit margin also fell once again to ..read more

Fiat has slammed the government’s decision to ignore suggestions made in a House of Lords report into EVs and says the UK is on the cusp of an ‘electric vehicle crisis’. Car Dealer reported last week that the Tories have rejected a wide range of proposals to accelerate the take-up of electric cars, which included the re-introduction of the electric car grant. The suggestions were made in a wide-ranging report written by the House of Lords Environment and Climate Change Committee, which outlined what is needed to help the transition to electric cars and allow the government to hit it ..read more

The RAC’s used car portal is to relaunch later this year after the firm signed a five year deal with Heycar. The online new and used car marketplace will take over the running of RAC Cars from June, when an all new website will be launched. Bosses say the platform will be given ‘feature parity’ with Heycar’s own site, providing automotive retailers with a ‘fantastic showcase’ for their vehicles. The upgraded site has been developed in line with RAC brand guidelines and will feature a responsive design that renders across all devices and screen sizes. Mark Adcock, head of brand licensing ..read more

Pendragon’s new US owner, Lithia Motors, is to cut around 250 jobs from the UK dealer group after deciding to kill off the firm’s CarStore used car supermarket brand. The American giant completed its £397m purchase of Pendragon’s dealerships and leasing business earlier this year and is now setting about a drastic restructure. According to the Financial Times, the firm is planning to cull the used car supermarket in response to a ‘collapse in the supply of used cars’. Staff were told of the decision yesterday (Apr 23) with all 16 of Pendragon’s CarStore sites now set to close down. The closur ..read more