Magazine

Troubled dealer group reconsiders DMS subsidiary sell-off PENDRAGON has abandoned plans to float Pinewood, its profitable dealer management software business, as a result of uncertainty in the equity markets. The dealer group, number one in the Motor Trader Top 200, is now reviewing its plans for the Birmingham based operation which sells the Pinnacle DMS platform. The group is thought ...

Used car sales remained relatively steady in December with Cap Black Book recording an overall reduction in average prices, based on three years/60,000 miles, of just 1.6 per cent. “The December market saw pockets of activity amid the ongoing downturn,” said Cap communications manager Mike Hind. “Notable was the market beating performance of 4x4s, which out-did even the reliably robust ...

2008 sales slide by 11 per cent and fall below 2.2 million for first time since 1999 as downturn bites DEALERS were warned last week they face a “difficult” future with vehicle registrations set to slide by up to 15 per cent in 2009. The warning from the SMMT chief executive Paul Everitt came as its figures showed car registrations ...

THE UK’s two largest auction houses have clashed over how much used car values declined in 2008. While Manheim’s full year market report indicated average wholesale values of used cars reached a peak in February and then fell throughout 2008 BCA’s Pulse reported a rise in November and December. BCA communications direction Tony Gannon said: “Used cars currently represent exceptional ...

Nissan sheds 1,200 UK jobs Nissan will cut 1,200 jobs at its Sunderland plant, representing nearly a quarter of its workforce. The union Unite’s joint general secretary, Derek Simpson, said: “It is absolutely crucial that these workers’ skills are not lost. The economy will improve and when it does Nissan will need these workers again.” Nissan said it is also ...

UK provenance supplier acquired by Audatex parent HPI, the UK vehicle provenance and services company has been bought by Audatex parent Solera for £94.4m. The price is well below the £120m publically listed Aviva paid for the business in 2004 when the insurance giant, which also owns Norwich Union and the RAC, was on the acquisition trail. HPI said the ...

Over the Christmas period, Motor Trader’s website, TalkingMotors.com, reported on the top breaking stories. Here is a round-up of the coverage On the dealer front, shares in Lookers fell by almost 15 per cent to 19p, after the dealer group announced a profit warning and scrapped its final dividend. Following poor sales in both the new and used car markets ...

Reduction of VAT rate may have helped market during closing month of 2008 December marked the eighth consecutive month of decline for the new car market with just 108,691 registrations, according to the SMMT. A glimmer of positive news for dealers in the figures was the 21.2 per cent year-on-year drop fell short of the 35 per cent fall predicted ...

With December traditionally the weakest month for new and used car sales the UK’s biggest auction houses have disagreed over trends during the month. BCA’s monthly Pulse Report showed average used car values improved for the second month in a row in December, although they remained significantly down year-on-year. The average used value in December was £4,836, just £13 ahead ...

Ray Hutton identifies the cars heading for showrooms in 2009 The New Year is a time for predictions but you won’t find many high flyers in the motor industry prepared to say what’s going to happen in 2009. Franz Josef Paefgen, chairman of Bentley, neatly expressed the situation as: “Like driving through fog. You can only see so far ahead.” ...