Monday, October 23, 2006
Holden group founder passes away
Ernest Holden, the founder of the Holden Group, has passed away.
Holden, who was 92, died at his home in Newbury on 12 October. He retired from the group in 1984 after starting his career as an apprentice motor technician in 1929 at the Reliance Garage in Norwich.
During the Second World War, Holden took control of the company and formed the Holden Group in 1960 with his son. Currently ranked 170 in the Motor Trader Top 200, the company’s franchises include Renault, Honda, Chrysler Jeep and Dodge and Renault vans.
DATED: 23.10.06
FEED: MT
Holden, who was 92, died at his home in Newbury on 12 October. He retired from the group in 1984 after starting his career as an apprentice motor technician in 1929 at the Reliance Garage in Norwich.
During the Second World War, Holden took control of the company and formed the Holden Group in 1960 with his son. Currently ranked 170 in the Motor Trader Top 200, the company’s franchises include Renault, Honda, Chrysler Jeep and Dodge and Renault vans.
DATED: 23.10.06
FEED: MT
Lombard goes online with disposals
Software firm Epyx's 1Link Disposal Network has secured a contract with Lombard Vehicle Management to dispose of its end of contract vehicles.
The dealer will see LVM, which has a total fleet of around 116,000 vehicles, become the internet platform’s largest individual user.
LVM will also be the first company to use 1Link’s auction management module, which enables fleet operators to manage the disposal of vehicles through different auctions at different sites.
DATED: 23.10.06
FEED: MT
The dealer will see LVM, which has a total fleet of around 116,000 vehicles, become the internet platform’s largest individual user.
LVM will also be the first company to use 1Link’s auction management module, which enables fleet operators to manage the disposal of vehicles through different auctions at different sites.
DATED: 23.10.06
FEED: MT
Proton boosts dealer network
Proton’s dealer recruitment drive has continued apace with the brand adding a further seven dealerships to its network in the third quarter.
This brings the total number of new recruits for the company this year so far to 23. General manager of sales and marketing Simon Park was confident the introduction of the new Satria in 2007 would improve the brand’s performance even further.
He said: “Our sales success this year and commitment to dealers is making Proton an attractive proposition to dealers across the country.”
DATED: 23.10.06
FEED: MT
This brings the total number of new recruits for the company this year so far to 23. General manager of sales and marketing Simon Park was confident the introduction of the new Satria in 2007 would improve the brand’s performance even further.
He said: “Our sales success this year and commitment to dealers is making Proton an attractive proposition to dealers across the country.”
DATED: 23.10.06
FEED: MT
Pendragon gets OFT green light
The Office of Fair Trading has decided to accept Pendragon’s offer to shed a number of dealerships in four areas in the UK.
The consumer watchdog said the decision sufficiently address the competition concerns which arose from the completed acquisition by Pendragon of Reg Vardy earlier this year.
The sites include Vauxhall dealerships in West Yorkshire, central Scotland and Hartlepool, and a Land Rover dealership in Northamptonshire.
Vincent Smith, senior director for competition at the OFT, said: “We are content that the divestments offered by Pendragon will, when implemented, address our competition concerns in this transaction.”
DATED: 23.10.06
FEEDL: MT
The consumer watchdog said the decision sufficiently address the competition concerns which arose from the completed acquisition by Pendragon of Reg Vardy earlier this year.
The sites include Vauxhall dealerships in West Yorkshire, central Scotland and Hartlepool, and a Land Rover dealership in Northamptonshire.
Vincent Smith, senior director for competition at the OFT, said: “We are content that the divestments offered by Pendragon will, when implemented, address our competition concerns in this transaction.”
DATED: 23.10.06
FEEDL: MT
Billionaires set sights on Aston Martin
Two European billionaires are now being tipped as potential bidders for British luxury marque Aston Martin. According to the Financial Times, Bernard Arnault and Alberet Frere are eyeing up the brand that has been put up for sale by Ford.
This follows an announcement by the duo to create a joint investment fund which will have equity financing capacity up to £670m. In a statement, they said the venture would invest in both listed and unlisted companies, mainly in Europe.
DATED: 23.10.06
FEED: MT
This follows an announcement by the duo to create a joint investment fund which will have equity financing capacity up to £670m. In a statement, they said the venture would invest in both listed and unlisted companies, mainly in Europe.
DATED: 23.10.06
FEED: MT
RMIF concern over FSA review
The Retail Motor Industry Federation has voiced concern that the Financial Services Authority has identified a problem with the motor trade over payment protection insurance.
An FSA review claimed standards among dealers were still poor during the selling process. Matthew Carrington, RMIF chief executive, blamed part of the problem on the “complex and burdensome nature” of the FSA regulations.
He said: “The RMIF has been constantly urging the FSA to adopt a lighter touch. We hope that the current effectiveness review being conducted by the FSA will take note of our concerns.”
DATED: 23.10.06
FEED: MT
An FSA review claimed standards among dealers were still poor during the selling process. Matthew Carrington, RMIF chief executive, blamed part of the problem on the “complex and burdensome nature” of the FSA regulations.
He said: “The RMIF has been constantly urging the FSA to adopt a lighter touch. We hope that the current effectiveness review being conducted by the FSA will take note of our concerns.”
DATED: 23.10.06
FEED: MT
TVR pulls plug on UK operations
British sports car maker TVR has performed a u-turn over its decision to stay in the UK, closing its Blackpool factory and axing 250 jobs.
The company, owned by Russian businessman Nikolai Smolenski, said production in Blackpool will be transferred to another European country.
The announcement upset unions, which had hoped that despite recent financial difficulties, the company's operations could be kept in Britain. Smolenski, who bought the company in 2004, said the decision was needed to secure the company's future.
DATED: 23.10.06
FEED: MT
The company, owned by Russian businessman Nikolai Smolenski, said production in Blackpool will be transferred to another European country.
The announcement upset unions, which had hoped that despite recent financial difficulties, the company's operations could be kept in Britain. Smolenski, who bought the company in 2004, said the decision was needed to secure the company's future.
DATED: 23.10.06
FEED: MT
Consumers happy to buy cars
UK consumers are happier spending their money on cars than any other commodities.
A study that asked consumers to rate their satisfaction in relation to goods and services found that over 70 per cent of customers were “very satisfied” with their car.
Bank services were rated second but gas and electricity suppliers received the worst rating. “Overall the figures are good news for car manufacturers,” said Caroline Kimber, marketing director for data analysts Wegener DM, which carried out the research.
DATED: 23.10.06
FEED: MT
A study that asked consumers to rate their satisfaction in relation to goods and services found that over 70 per cent of customers were “very satisfied” with their car.
Bank services were rated second but gas and electricity suppliers received the worst rating. “Overall the figures are good news for car manufacturers,” said Caroline Kimber, marketing director for data analysts Wegener DM, which carried out the research.
DATED: 23.10.06
FEED: MT
EMH attracts bid speculation
European Motor Holdings has notified the London stock exchange of a major interest in its shares.
The group, ranked 10 in the Motor Trader Top 200, said Man Financial had taken a 4.45 per cent stake in the company.
Having posted pre-tax profit of £10.2m this week for the six months to 31 August, EMH said it had appointed investment bank Goldman Sachs to conduct a strategic review of the business – prompting speculation that it would invite takeover bids.
DATED: 23.10.06
FEED: MT
The group, ranked 10 in the Motor Trader Top 200, said Man Financial had taken a 4.45 per cent stake in the company.
Having posted pre-tax profit of £10.2m this week for the six months to 31 August, EMH said it had appointed investment bank Goldman Sachs to conduct a strategic review of the business – prompting speculation that it would invite takeover bids.
DATED: 23.10.06
FEED: MT
Carter & Carter profits from training
Training giant Carter & Carter cemented its leading position in the sector by nearly doubling its profits for the year end to 31 July.
The group reported underlying pre-tax profit of £15.2m, up from £7.2m a year ago, while turnover was up 85 per cent from £51m to £94.1m.
The average number of apprentice learners increased by 50 per cent to 6,684 and the average number of fee-earning staff increased by 22 per cent to 438.
DATED: 23.10.06
FEED: MT
The group reported underlying pre-tax profit of £15.2m, up from £7.2m a year ago, while turnover was up 85 per cent from £51m to £94.1m.
The average number of apprentice learners increased by 50 per cent to 6,684 and the average number of fee-earning staff increased by 22 per cent to 438.
DATED: 23.10.06
FEED: MT
Dealers to face fines after MIB clampdown
Thousands of dealers face fines of up to £5,000 if they fail to supply vehicle details to the Motor Insurance Database ahead of the looming deadline.
The Motor Insurer’s Bureau has written to 3,000 dealers and fleet operators providing them with a two-week deadline to submit the required information. “We have given rogue policyholders their final warning,” said Neil Drane, head of the Motor Insurers’ Information Centre at the MIB.
DATED: 23.10.06
FEED: MT
The Motor Insurer’s Bureau has written to 3,000 dealers and fleet operators providing them with a two-week deadline to submit the required information. “We have given rogue policyholders their final warning,” said Neil Drane, head of the Motor Insurers’ Information Centre at the MIB.
DATED: 23.10.06
FEED: MT
European sales dip in September
New car registrations fell across Europe last month as the loss of one day of trading took its toll.
Year-on-year sales fell 2.6 per cent in September to 1.4 million units, according to the latest figures from ACEA, the association of European car makers.
Acea said the figures were affected by the loss of one trading day compared to last September but also described the European new car market as “flat”. Year-to-date sales are now just 0.1 per cent ahead of 2005 at 11.85 million units.
DATED: 23.10.06
FEED: MT
Year-on-year sales fell 2.6 per cent in September to 1.4 million units, according to the latest figures from ACEA, the association of European car makers.
Acea said the figures were affected by the loss of one trading day compared to last September but also described the European new car market as “flat”. Year-to-date sales are now just 0.1 per cent ahead of 2005 at 11.85 million units.
DATED: 23.10.06
FEED: MT
EMH drives ahead in first half
European Motor Holdings has bucked the downward sales trend in the market with a strong set of interim results.
The group, ranked 10 in the motor trader Top 200, posted profit before tax, excluding exceptional losses, of £10.2m for the six months to 31 August – up 26 per cent year-on-year.
The margins within its motor retail division were also up from 2.9 per cent to 3.1 per cent. Chief executive Richard Palmer claimed its franchise partners continued to outperform the market, leaving the business looking forward to “a satisfactory full year outcome"
DATED: 23.10.06
FEED: MT
The group, ranked 10 in the motor trader Top 200, posted profit before tax, excluding exceptional losses, of £10.2m for the six months to 31 August – up 26 per cent year-on-year.
The margins within its motor retail division were also up from 2.9 per cent to 3.1 per cent. Chief executive Richard Palmer claimed its franchise partners continued to outperform the market, leaving the business looking forward to “a satisfactory full year outcome"
DATED: 23.10.06
FEED: MT
New md for Benfield
Benfield Motor Group has appointed Nigel McMinn as its new managing director.
McMinn joins the north-east based group, which has 26 UK dealerships, from Pendragon where he ran the company’s former Reg Vardy dealerships in the east of Scotland.
McMinn will work alongside chief executive Mark Squires. The Squires family has owned Benfield since 1957 and in a new managerial structure chairman John Squires will take a non-executive role
DATED: 23.10.06
FEED: MT
McMinn joins the north-east based group, which has 26 UK dealerships, from Pendragon where he ran the company’s former Reg Vardy dealerships in the east of Scotland.
McMinn will work alongside chief executive Mark Squires. The Squires family has owned Benfield since 1957 and in a new managerial structure chairman John Squires will take a non-executive role
DATED: 23.10.06
FEED: MT
JCB boss pulls out of Jaguar sale
The boss of mechanical digger manufacturer JCB has ended his interest in acquiring Jaguar from Ford.
Sir Anthony Bamford said he was pulling out as any sale would also include the Land Rover brand. Bamford said he had no interest in buying the two together and was therefore “not getting involved”.
Ford is undergoing a strategic review of its Premier Automotive Group, with the sale of Aston Martin looking more likely than that of Jaguar and Land Rover.
DATED: 23.10.06
FEED: MT
Sir Anthony Bamford said he was pulling out as any sale would also include the Land Rover brand. Bamford said he had no interest in buying the two together and was therefore “not getting involved”.
Ford is undergoing a strategic review of its Premier Automotive Group, with the sale of Aston Martin looking more likely than that of Jaguar and Land Rover.
DATED: 23.10.06
FEED: MT
