Used car prices have fallen back in line with ‘seasonal norms’ in April – despite values dropping for the second month in a row. Cap HPI has reported prices of three year old cars, around the 60,000 mile point, fell by around 1.5% in the fourth month of the year – equivalent to around £300. The dip is the marks the second month of decline in a row, after values grew 0.7% growth in February – the first rise in over a year. March saw a marginal decline of 0.1% but overall, used values rose by 0.5% in the first quarter of the year. As a result, Cap HPI says that the latest decline is nothin ..read more

Stellantis has threatened to slash its presence in the UK in response to the ‘terrible’ ZEV mandate. The carmaker’s boss, Carlos Tavares, has been speaking to the national media this week, amid reports the company is unhappy with net zero measures currently being pursued by the UK government. Tavares said that the current ZEV mandate is ‘terrible for the UK’ and suggested that Stellantis may be forced to cut back the number of cars it sells here as a result. He added that the outfit would not ‘support an red ink business’ and even refused to rule out pulling some models from sale altogether ..read more

MG’s hotly-anticipated Cyberster electric sports car has finally gone on sale with selected dealer partners now taking orders. The drop-top has been one of the most-talked about new cars of the year as the brand returns to its roots and releases its first sports car since production of the TF ended in 2011. The EV will be is available in two trim levels – the standard Trophy and the top-of-the-line GT – with prices starting at less than £55,000. The Trophy comes with an electric motor that produces 335bhp, has a torque figure of 475Nm and can do 0-60mph in 4.8 seconds. The GT, meanwhile, come ..read more

Brindley Group has signed a new partnership to represent both Omoda and Jaecoo in the UK The Wolverhampton-based dealer group will partner with the Chinese brands, both of which are subsidiaries of Chery, from this spring. The vehicles will be sold from the group’s Cannock dealership as the brands look to follow through on their ‘aggressive’ ambitions for the UK market. Beginning later in the year, the site will offer a range of electric and petrol models, including the Omoda 5 and Jaecoo 7. The Omoda 5 is a mid-size SUV, similar to the likes of the Hyundai Kona or Nissan Qashqai, with e ..read more

Cazoo’s new online marketplace has now gone live, more than a month after the firm announced its drastic change of model. Car Dealer reported in March that the online disruptor had pulled out of used car sales and was planning to take on the likes of Auto Trader. The plans raised more than a few eyebrows within the automotive industry but the new service has now gone live, with more than 12,000 vehicles listed on the platform from the off. Ironically, given Cazoo’s stated plans to overthrow the likes of Motors, many of the listings currently appearing on the new marketplace appear to have bee ..read more

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

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

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