Editor’s Choice

Motorpoint Group has put its expansion roll-out programme on hold with a new focus on cash conservation, increasing margins and lowering its cost base. The group today announced losses of £300,000 in the year to March 2023 compared to the £21.5m generated the prior year on turnover up 8.9% to a record £1.4bn. Gross profit fell -19.4% to £85.7m. The ...

Arnold Clark jumped to the top of the Motor Trader increased profits table in the recently published Top 200 Dealer Group listings. The dealer group saw a huge jump in profits to £263m compared to £156.5m last time, an increase of £106.5m. Arnold Clark beat Sytner into second slot. The Penske owned group saw profits of £178.1m compared to £100.4m ...

HR Owen has topped the salary charts of dealers in the Top 200 Dealer Groups paying an average employee salary of £50,287. The top-end dealer group narrowly edged out TC Harrison Group into second place followed by Jemca, Park Lane BMW and Sandal Group. Report author Chris Oakham commented on the overall salaries for the Top 200 said: “There are ...

Peter Vardy has appointed James Brearley, former Inchcape UK CEO, as chief operating officer. Group founder, Peter Vardy, said: “Following the launch of our 2030 Strategy in 2020, our aim has been to significantly expand the Peter Vardy Group by 2030 which, despite the disruption caused by the covid pandemic, we are on track to achieve. “To enable this growth, ...

Big Motoring World has confirmed a planned move of its headquarters in Autumn 2023. The new premises is located at the Gillingham Business Park in Kent. The new head office will allow the company to move into the next phase of its growth plans, according to boss Peter Waddell. He said: “Our move to the new premises on Bailey Drive ...

The NFDA Electric Vehicle Approved (EVA) hits milestone of 500 accredited dealer sites. Sue Robinson Chief Executive of the NFDA said: “It is extremely positive to see that  the automotive retailing sector has embraced the NFDA Electric Vehicle Approved (EVA) scheme since its launch in 2019. Over the years, the scheme has continued to grow in strength and we are pleased ...

The rising cost of living and high prices are deterring buyers from purchasing an EV. According to What Car? when asked whether the current economic climate is impacting their vehicle purchase, 43.3% of the 1009 survey respondents said it is impacting them negatively – having to either spend less, choose a different make or model or delay their purchase. Just ...

Sales of used EVs slowed in May as stock volumes dropped. According to the latest eBay Motors Group Market View, average days in stock for EVs increased year-on-year by 18 days to 51, making them the slowest sellers by fuel type. Last May EVs were the fastest sellers, averaging just 33 days to sell. EV stock levels on Motors.co.uk were ...

Hedin Mobility has reiterated its plans to expand in the UK in its Q1 interim report. The company, led by CEO Anders Hedin (pictured)  acquired four dealerships in South London from Mercedes-Benz Retail Group UK in a deal completed on 1 April. The dealerships are in Brooklands, Dartford, Croydon, and West Bromley. “We continue to expand our operations outside of ...

John Grose Group turned in a strong performance in 2022 with pre-tax profits surging 33% to £8.3m on turnover ahead 18% to £187.8m. In accounts filed at Companies House it said the increased turnover reflected demand beginning to recover to pre-pandemic levels but said changes made by Stellantis to its systems had led to ‘frustrations’ with the carmaker. “It looks ...