Friday, August 25, 2006
UK car production dips in July
Car production in the UK took another dive in July as volumes fell 6.3 per cent year-on-year.
Latest figures from the SMMT showed that production dropped to 117,829 cars last month, putting the total for the year so far at 917,374 units.
UK production of commercial vehicles in July was up by 7.5 per cent at 15,318 vehicles. SMMT chief executive Christopher Macgowan said: "Despite the lower July figures, it is very encouraging to see the likes of Toyota, Honda, Land Rover and Jaguar posting significant growth."
DATED: 25.08.06
FEED: MT
Latest figures from the SMMT showed that production dropped to 117,829 cars last month, putting the total for the year so far at 917,374 units.
UK production of commercial vehicles in July was up by 7.5 per cent at 15,318 vehicles. SMMT chief executive Christopher Macgowan said: "Despite the lower July figures, it is very encouraging to see the likes of Toyota, Honda, Land Rover and Jaguar posting significant growth."
DATED: 25.08.06
FEED: MT
Vauxhall targets training for showroom staff
Vauxhall has acquired the services of training company Performance in People to help develop its customer performance levels across its UK network.
The main aim of the programme is improving new customer acquisitions and existing customer relationships. This will see showroom staff participating in a mystery shopping programme to illustrate the weaknesses that exist within a dealership’s workforce.
Other brands that have already implemented the PiP mystery shopping programme include Honda, Ford, BMW, Mitsubishi and Volvo.
DATED: 25.08.06
FEED: MT
The main aim of the programme is improving new customer acquisitions and existing customer relationships. This will see showroom staff participating in a mystery shopping programme to illustrate the weaknesses that exist within a dealership’s workforce.
Other brands that have already implemented the PiP mystery shopping programme include Honda, Ford, BMW, Mitsubishi and Volvo.
DATED: 25.08.06
FEED: MT
Industry gathers to discuss challenges
The American Bankruptcy Institute is to meet with senior industry players early next month to discuss challenges facing the automotive industry.
The UK conference will see parties address the new set of challenges in the marketplace and the changing industry structure. Experts who have worked with Ford and General Motors will examine the difficulties manufacturers face.
Ian Williams, a director with the institute, said: “The issues affecting the industry are not unique to either the US or the UK, which is why we need to work together to understand the global market in which the industry now operates.”
DATED: 25.08.06
FEED: MT
The UK conference will see parties address the new set of challenges in the marketplace and the changing industry structure. Experts who have worked with Ford and General Motors will examine the difficulties manufacturers face.
Ian Williams, a director with the institute, said: “The issues affecting the industry are not unique to either the US or the UK, which is why we need to work together to understand the global market in which the industry now operates.”
DATED: 25.08.06
FEED: MT
BMW mum on Rover name deal
BMW has agreed to sell the Rover brand for an undisclosed sum to an unnamed buyer.
It was reported last week that Shanghai Automotive Industry Company was poised to buy the brand name from the German car maker after agreeing to pay more than £11m for the name which would complete the Chinese car maker’s takeover of the failed British marque.
SAIC owns the design rights to two Rover models including the BMW-designed and engineered Rover 75. A spokesman for BMW said that Ford still had first refusal on the deal and had less than three months to stop it from going through.
DATED: 25.08.06
FEED: MT
It was reported last week that Shanghai Automotive Industry Company was poised to buy the brand name from the German car maker after agreeing to pay more than £11m for the name which would complete the Chinese car maker’s takeover of the failed British marque.
SAIC owns the design rights to two Rover models including the BMW-designed and engineered Rover 75. A spokesman for BMW said that Ford still had first refusal on the deal and had less than three months to stop it from going through.
DATED: 25.08.06
FEED: MT
Consumers drive up spending on new cars
The amount spent by UK residents buying a new car has increased by 61 per cent over the past ten years, according to new research.
A study by Halifax revealed that over the same period, however, the price of a new car has gone down by 6 per cent with consumers getting more car for their money.
The study also showed that UK residents spent over £36bn on purchasing cars last year - approximately 4.5 per cent of total disposable income and nearly £1,500 per household. Nearly one in ten motorists purchased a brand new vehicle and one in four purchased a used car.
DATED: 25.08.06
FEED: MT
A study by Halifax revealed that over the same period, however, the price of a new car has gone down by 6 per cent with consumers getting more car for their money.
The study also showed that UK residents spent over £36bn on purchasing cars last year - approximately 4.5 per cent of total disposable income and nearly £1,500 per household. Nearly one in ten motorists purchased a brand new vehicle and one in four purchased a used car.
DATED: 25.08.06
FEED: MT
German brands top used car performers
Lex Vehicle Leasing has produced its first top ten residual values list for cars in three price sectors.
The first category included cars under £15,000, which saw the Mini top of the pile and the Honda FRV proving the top choice for family transport.
In the £15,000-£30,000 group, the Germans brands were favourites as the Audi Cabriolet, Mercedes SLK and BMW 3-Series were top.
The Mercedes SLK was also king in the over £30,000 category. Lex managing director Jon Walden said: "German cars are still strong but Japanese, English and Swedish manufacturers are also now well represented."
DATED: 25.08.06
FEED: MT
The first category included cars under £15,000, which saw the Mini top of the pile and the Honda FRV proving the top choice for family transport.
In the £15,000-£30,000 group, the Germans brands were favourites as the Audi Cabriolet, Mercedes SLK and BMW 3-Series were top.
The Mercedes SLK was also king in the over £30,000 category. Lex managing director Jon Walden said: "German cars are still strong but Japanese, English and Swedish manufacturers are also now well represented."
DATED: 25.08.06
FEED: MT
Car Care Plan to ease pain of warranty work
Care Care Plan has teamed up with Trader Data Systems to cut down on the administration involved in registering vehicle warranties and improve the claims process.
Car Care Plan is planning to use the Trader Data Systems’ VRM look-up kit, which allows both dealers to instantly view all the various data on a vehicle.
The new service features a real-time data feed so that any changes by the DVLA or other providers will be updated automatically. Neil Hodson, managing director of Trader Data Systems, claimed the new service would allow the firm to become a more significant player in the automotive data provision market.
DATED: 25.08.06
FEED: MT
Car Care Plan is planning to use the Trader Data Systems’ VRM look-up kit, which allows both dealers to instantly view all the various data on a vehicle.
The new service features a real-time data feed so that any changes by the DVLA or other providers will be updated automatically. Neil Hodson, managing director of Trader Data Systems, claimed the new service would allow the firm to become a more significant player in the automotive data provision market.
DATED: 25.08.06
FEED: MT
Trevor Jones to host major autumn dealer conference
Trevor Jones, the specialist motor trade accountancy firm, and Motor Trader are joining forces to co-host a major dealer conference in October focusing on managing major strategic business changes.Topics set to be covered include business consolidation through acquisitions and disposals, future business planning, maximising profitability as well as succession and exit strategies.
The Change Strategy Conference, sponsored by NatWest, will be held at two separate venues to cater for dealers across the UK. The first session will be held at the Belfry Hotel in Manchester on 4 October, followed by the Baylis House conference centre in Slough on 5 October.
Keynote speakers for the conference include Michael Jones, a partner at Trevor Jones, Steve Branney from the NatWest Motor Retail team as well as guest speakers from DWF Solicitors.
The conference is aimed at managing directors, finance directors, owner-drivers, franchising managers from car brands and anyone looking to enter the car retailing sector. For further details please contact David Kendrick or Clair Hyde on 0161 475 4700 or e-mail info@trevorjones.uk.com
DATED: 25.08.06
FEED: MT
The Change Strategy Conference, sponsored by NatWest, will be held at two separate venues to cater for dealers across the UK. The first session will be held at the Belfry Hotel in Manchester on 4 October, followed by the Baylis House conference centre in Slough on 5 October.
Keynote speakers for the conference include Michael Jones, a partner at Trevor Jones, Steve Branney from the NatWest Motor Retail team as well as guest speakers from DWF Solicitors.
The conference is aimed at managing directors, finance directors, owner-drivers, franchising managers from car brands and anyone looking to enter the car retailing sector. For further details please contact David Kendrick or Clair Hyde on 0161 475 4700 or e-mail info@trevorjones.uk.com
DATED: 25.08.06
FEED: MT
Industry calls for insurance benefits for active safety
The SMMT has called on motor insurance repair research centre Thatcham to advocate premium discounts for drivers fitting their car with the latest accident prevention technology.
The call follows research produced by Thatcham which promotes the benefits of electronic stability control systems.
However, SMMT argued that these systems were currently not part of Thatcham’s insurance rating criteria, which meant customers fitting ESC were not benefiting from cheaper insurance premiums. The industry body called on Thatcham to direct its members to offer 15 per cent off policies for cars fitted with the system.
DATED: 25.08.06
FEED: MT
The call follows research produced by Thatcham which promotes the benefits of electronic stability control systems.
However, SMMT argued that these systems were currently not part of Thatcham’s insurance rating criteria, which meant customers fitting ESC were not benefiting from cheaper insurance premiums. The industry body called on Thatcham to direct its members to offer 15 per cent off policies for cars fitted with the system.
DATED: 25.08.06
FEED: MT
Dealers unrealistic when selling businesses
Dealers looking to sell off their business have unrealistic expectations when it comes to how much they can get in goodwill payments.
According to motor trade specialist accountancy firm, Trevor Jones, a number of dealers are looking to achieve goodwill payments which have no substance. “A large proportion of people looking to exit the motor trade are expecting too much in the way of goodwill payments for their businesses without thinking about how the goodwill is justified”, said Robert Jones.
“Vendors should not be put off selling. However, they should consider just how much they themselves would be willing to pay for their own business.
DATED: 25.08.06
FEED: MT
According to motor trade specialist accountancy firm, Trevor Jones, a number of dealers are looking to achieve goodwill payments which have no substance. “A large proportion of people looking to exit the motor trade are expecting too much in the way of goodwill payments for their businesses without thinking about how the goodwill is justified”, said Robert Jones.
“Vendors should not be put off selling. However, they should consider just how much they themselves would be willing to pay for their own business.
DATED: 25.08.06
FEED: MT
GM brand takes pole in Europe corporate sales
The Opel marque was last year’s best-selling corporate car brand, according to research from London analyst firm, Datamonitor.
The study revealed that the GM company's corporate business accounted for well over half of its total sales in Europe. In second place was Volkswagen, while third position was closely contested by Renault and Ford.
According to Datamonitor in 2005, nearly half the new passenger cars sold in the seven largest markets on the continent were bought by legal entities, ranging from car rental companies and large corporations through to governments and small companies.
DATED: 25.08.06
FEED: MT
The study revealed that the GM company's corporate business accounted for well over half of its total sales in Europe. In second place was Volkswagen, while third position was closely contested by Renault and Ford.
According to Datamonitor in 2005, nearly half the new passenger cars sold in the seven largest markets on the continent were bought by legal entities, ranging from car rental companies and large corporations through to governments and small companies.
DATED: 25.08.06
FEED: MT
Stratstone sites claim global record
Pendragon has claimed that its Stratstone dealerships are among the top five selling sites for Aston Martin in the world this year.
The UK’s largest dealer group claims the showrooms in Mayfair, Wilmslow and Birmingham are setting the benchmark for 2006 sales and are first, second and fourth respectively for deliveries out of 109 Aston Martin dealerships globally.
Between them the three dealerships deliver almost a quarter of Aston Martins sold to UK customers.
DATED: 25.08.06
FEED: MT
The UK’s largest dealer group claims the showrooms in Mayfair, Wilmslow and Birmingham are setting the benchmark for 2006 sales and are first, second and fourth respectively for deliveries out of 109 Aston Martin dealerships globally.
Between them the three dealerships deliver almost a quarter of Aston Martins sold to UK customers.
DATED: 25.08.06
FEED: MT
Dealer told to pay back profits from brothel
A car dealer who ran a brothel has been ordered to pay back more than £18,000 under a confiscation order.
Roger Durrell, from Poveycross Road, Horely, was reported to have made almost £323,000 from the brothel he ran near Gatwick Airport where he employed Eastern European women to entertain clients.
However, at a confiscation hearing at Lewes Crown Court, police accepted they could only realise assets of £18,158. Durrell, who was jailed for a year in February, was told by the judge to hand over the cash within six months or face a further 12 months behind bars.
DATED: 25.08.06
FEED: MT
Roger Durrell, from Poveycross Road, Horely, was reported to have made almost £323,000 from the brothel he ran near Gatwick Airport where he employed Eastern European women to entertain clients.
However, at a confiscation hearing at Lewes Crown Court, police accepted they could only realise assets of £18,158. Durrell, who was jailed for a year in February, was told by the judge to hand over the cash within six months or face a further 12 months behind bars.
DATED: 25.08.06
FEED: MT
uSwitch attacks dealer finance
The rates charged by dealers for finance deals have been attacked by the independent comparison website uSwitch.
According to its research motorists opting to use dealer finance can end up paying as much as £3,000 more than taking on a loan. It claimed that the average interest rate charged for customers taking on showroom finance packages were over 11 per cent APR, which is more than double that of some cheaper personal loans.
uSwitch said with around 180,000 new cars set to be purchased on dealer finance programmes in September, UK drivers could pay an extra £210m.
DATED: 25.08.06
FEED: MT
According to its research motorists opting to use dealer finance can end up paying as much as £3,000 more than taking on a loan. It claimed that the average interest rate charged for customers taking on showroom finance packages were over 11 per cent APR, which is more than double that of some cheaper personal loans.
uSwitch said with around 180,000 new cars set to be purchased on dealer finance programmes in September, UK drivers could pay an extra £210m.
DATED: 25.08.06
FEED: MT
Dealer profitability slips as new car prices slide
The rise in UK new car prices has slowed significantly compared to the rest of Europe, resulting in a further blow to dealer profitability.
A study of new car prices by the Roadtodata Euro Index, shows that prices in the UK rose just 0.5 per cent during the 12 months to June 2006 as the market continued to decline.
In contrast, average new car prices across Europe increased by 1.3 per cent over the same period. The report said the average price of a new car in Britain is now 1 per cent below the average across Europe.
DATED: 25.08.06
FEED: MT
A study of new car prices by the Roadtodata Euro Index, shows that prices in the UK rose just 0.5 per cent during the 12 months to June 2006 as the market continued to decline.
In contrast, average new car prices across Europe increased by 1.3 per cent over the same period. The report said the average price of a new car in Britain is now 1 per cent below the average across Europe.
DATED: 25.08.06
FEED: MT
