Monday, August 07, 2006
Upward march of the budget brands
Residual values of budget brands are beginning to threaten established volume brands in many of the core market segments.
According to EurotaxGlass's market intelligence service, manufacturers such as Skoda, Hyundai and Kia are beginning to make a real impact in the UK market place with their expanding product ranges and improved quality finding increasing demand on the used market.
"Our analysis shows that the volume players are not having it all their own way in terms of residual values," said Alan Cole. Budget diesel variants also appear to be retaining better residuals values than that those of the volume players.
DATED: 0708.06
FEED: MT
According to EurotaxGlass's market intelligence service, manufacturers such as Skoda, Hyundai and Kia are beginning to make a real impact in the UK market place with their expanding product ranges and improved quality finding increasing demand on the used market.
"Our analysis shows that the volume players are not having it all their own way in terms of residual values," said Alan Cole. Budget diesel variants also appear to be retaining better residuals values than that those of the volume players.
DATED: 0708.06
FEED: MT
Inchcape announces record profits
Inchcape, the global automotive retailer, has reported record profits in the UK for the first six months of the year.
Its UK retail business grew trading profits by 49.1 per cent, achieving a record trading margin of 2.8 per cent.
Year-on-year sales rose 5.2 per cent to £783m - trading profit increased to £23.2m from £15m a year earlier. Australia, Greece and Belgium also reported record results as overall sales for the company rose 8.1 per cent year-on-year to £2.44bn.
DATED: 07.08.06
FED: MT
Its UK retail business grew trading profits by 49.1 per cent, achieving a record trading margin of 2.8 per cent.
Year-on-year sales rose 5.2 per cent to £783m - trading profit increased to £23.2m from £15m a year earlier. Australia, Greece and Belgium also reported record results as overall sales for the company rose 8.1 per cent year-on-year to £2.44bn.
DATED: 07.08.06
FED: MT
HR Owen sheds Audi business
As part of plans to reduce its debts, HR Owen has shed three of its Audi dealerships.
A management buy-out team headed by Darren Guiver, under the company name Spire Automotive, has bought the three dealerships in Finchley Road, Hatfield and Whetstone.
As at 31 December 2005, the three sites had gross assets of £10.2m and generated a pre-tax profit of £500,000. The total consideration for the business payable in cash is £4.7m, of which £2.0m is goodwill. As part of the deal, all of the employees will be transferred to Spire Automotive.
DATED: 07.08.06
FEED: MT
A management buy-out team headed by Darren Guiver, under the company name Spire Automotive, has bought the three dealerships in Finchley Road, Hatfield and Whetstone.
As at 31 December 2005, the three sites had gross assets of £10.2m and generated a pre-tax profit of £500,000. The total consideration for the business payable in cash is £4.7m, of which £2.0m is goodwill. As part of the deal, all of the employees will be transferred to Spire Automotive.
DATED: 07.08.06
FEED: MT
BoE Rate Notification
Bank of England Raises Bank Rate by 0.25 Percentage Points to 4.75%
DATED: 03.08.06
FEED: Bank of England
DATED: 03.08.06
FEED: Bank of England
