Friday, November 10, 2006
Mini dealers invest in network
Mini dealers have invested over £20m in facilities this year and the BMW-owned brand is well on its way to establishing a 100 per cent standalone network by the end of 2008, according to Jim O’Donnell, managing director of BMW UK.
O’Donnell added that BMW sales were 4 per cent up for the year-to-date and would reach 115,000 for the full year. But he warned that increased regulation, environmental concerns and high taxation were making it hard to do business in the UK.
DATED: 10.11.06
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O’Donnell added that BMW sales were 4 per cent up for the year-to-date and would reach 115,000 for the full year. But he warned that increased regulation, environmental concerns and high taxation were making it hard to do business in the UK.
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Fiat boss to step down next year
Fiat SpA chief executive Sergio Marchionne has confirmed that he will step down as the leader of the company's car making unit next year.
The Fiat boss said his successor would come from within the company. Marchionne has engineered Fiat's turnaround since taking over the failing industrial group in June 2004, and assumed the helm of the core auto division at the start of last year.
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The Fiat boss said his successor would come from within the company. Marchionne has engineered Fiat's turnaround since taking over the failing industrial group in June 2004, and assumed the helm of the core auto division at the start of last year.
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Citroen bolsters its fleet division
Citroen is attempting to bolster its fleet division with the creation of a new business centre.
Launched in conjunction with marketing firm the Ion Group, its role will be to build relationships with potential fleet customers, make appointments, and provide support to the dealer network and fleet sales staff.
Neville Staines, Citroen UK national business sector manager, said: “Our partnership with Ion to promote our fleet vehicles and support the dealer network is a very good match in terms of values and approach.”
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Launched in conjunction with marketing firm the Ion Group, its role will be to build relationships with potential fleet customers, make appointments, and provide support to the dealer network and fleet sales staff.
Neville Staines, Citroen UK national business sector manager, said: “Our partnership with Ion to promote our fleet vehicles and support the dealer network is a very good match in terms of values and approach.”
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FLA launches PoS fightback
The motor finance industry’s fight to reclaim a larger share of the point of sale insurance market is gathering pace with the launch of two new initiatives.
Spearheaded by the Finance and Leasing Association, a new professional finance accreditation, backed by the Institute of the Motor Industry, is set to be launched alongside a consumer-facing website.
The new website will launch immediately with the first entrants on the accreditation scheme expected in the second quarter of next year.
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Spearheaded by the Finance and Leasing Association, a new professional finance accreditation, backed by the Institute of the Motor Industry, is set to be launched alongside a consumer-facing website.
The new website will launch immediately with the first entrants on the accreditation scheme expected in the second quarter of next year.
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Southern Finance urges caution
Miles Roberts, managing director at motor finance company Southern Finance, has urged car dealers to be more careful when selling financing packages for would-be car-buyers in a bid to boost sales.
He pointed out that consumer buying patterns show that most people change cars every two to three years but with dealers now offering loans over as long as seven years, Roberts believes they could be risking losing customers in the long-term.
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He pointed out that consumer buying patterns show that most people change cars every two to three years but with dealers now offering loans over as long as seven years, Roberts believes they could be risking losing customers in the long-term.
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Bank of England Rate Notification
09 November 2006
Bank of England Raises Bank Rate by 0.25 Percentage Points to 5.0%
FEED: BoE
Bank of England Raises Bank Rate by 0.25 Percentage Points to 5.0%
FEED: BoE
Irish car trader guilty of money laundering
DUBLIN CIRCUIT Criminal Court has found used car salesman, James Naylor (37) guilty of money laundering.
Mr Dominic McGinn, prosecuting, told the jury that Naylor had a business arrangement with Michael Byrne who was involved in various criminal activities, including drug dealing and handling stolen vehicles.
Byrne bought cars with the proceeds of crime and gave them to the accused to sell through his legitimate car business.
Byrne was arrested in January 2002 at Dover ferry port in England in possession of a large amount of cash. He was later convicted of money laundering and jailed for six years.
The jury convicted Naylor on two charges of having motor vehicles "which represented another person's proceeds of drug dealing" and one charge each of possession of EUR 22,000 and of EUR 31,340 "which represented another person's criminal activity". The crimes happened on dates from March 2001 to July 2002.
Naylor was remanded on continuing bail for sentence later.
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Mr Dominic McGinn, prosecuting, told the jury that Naylor had a business arrangement with Michael Byrne who was involved in various criminal activities, including drug dealing and handling stolen vehicles.
Byrne bought cars with the proceeds of crime and gave them to the accused to sell through his legitimate car business.
Byrne was arrested in January 2002 at Dover ferry port in England in possession of a large amount of cash. He was later convicted of money laundering and jailed for six years.
The jury convicted Naylor on two charges of having motor vehicles "which represented another person's proceeds of drug dealing" and one charge each of possession of EUR 22,000 and of EUR 31,340 "which represented another person's criminal activity". The crimes happened on dates from March 2001 to July 2002.
Naylor was remanded on continuing bail for sentence later.
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VW chief quit over pace of restructuring
Volkswagen chief executive, Bernd Pischetsrieder, resigned over a dispute in the speed of the company's turnaround plans.
According to Reuters news agency, the car-maker's supervisory board voted against Pischetsrieder in an argument over the pace of rationalisation taking place.
VW has refused to give any reason for the change.
According to Reuters, Pischetsrieder threw in the towel after failing to bridge a difficult gap between board members eager to boost VW's efficiency and labour demands to protect jobs.
Citigroup analysts briefed its clients that 'Investors will likely fear that their 'bogeyman', Dr Piech, is back in effective control'.
Piech is a former chief executive of Volkswagen. He is also the grandson of legendary VW Beetle developer Ferdinand Porsche. His family controls sports car maker Porsche AG
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According to Reuters news agency, the car-maker's supervisory board voted against Pischetsrieder in an argument over the pace of rationalisation taking place.
VW has refused to give any reason for the change.
According to Reuters, Pischetsrieder threw in the towel after failing to bridge a difficult gap between board members eager to boost VW's efficiency and labour demands to protect jobs.
Citigroup analysts briefed its clients that 'Investors will likely fear that their 'bogeyman', Dr Piech, is back in effective control'.
Piech is a former chief executive of Volkswagen. He is also the grandson of legendary VW Beetle developer Ferdinand Porsche. His family controls sports car maker Porsche AG
DATED: 10.11.06
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Four arrested after dealership car theft
TWO AUDI models have been stolen from the Bramall & Jones Audi dealership in Boston, Lincolnshire.
Police have arrested four men on suspicion of the theft.
The silver-coloured cars have not yet been recovered. Police believe they may have been taken away on a low loader.
DATED: 10.11.06
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Police have arrested four men on suspicion of the theft.
The silver-coloured cars have not yet been recovered. Police believe they may have been taken away on a low loader.
DATED: 10.11.06
FEED: AW
VW boss steps down
Volkswagen chief executive Bernd Pischetsrieder is to step down from his post at the end of the year.
Martin Winterkorn, head of the firm's Audi unit, will take over the post.
Pischetsrieder's shock decision to resign comes as Europe's biggest carmaker is undergoing a tough restructuring drive that involves 20,000 job losses.
VW gave no reason for Pischetsrieder’s decision to quit, but said the it would be effective from 31 December.
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Martin Winterkorn, head of the firm's Audi unit, will take over the post.
Pischetsrieder's shock decision to resign comes as Europe's biggest carmaker is undergoing a tough restructuring drive that involves 20,000 job losses.
VW gave no reason for Pischetsrieder’s decision to quit, but said the it would be effective from 31 December.
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Falling fuel prices boost SUV sales
Falling fuel prices witnessed in recent months have led to more consumers considering purchasing 4x4s, according to market analysts Eurotaxglass’s, which said the issue of running costs was only relevant to ‘less affluent’ owners of older 4x4s.
Meanwhile London’s Richmond Borough of Thames Council has suggested charging owners of SUVs £300 for parking permits.
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Meanwhile London’s Richmond Borough of Thames Council has suggested charging owners of SUVs £300 for parking permits.
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Dealers oblivious to clocking dangers
Less than half of dealers carry out mileage investigation checks on all their vehicles, according to research from Trader Data Systems.
Figures from the vehicle provenance provider showed that many dealers fail to check vehicles.
It warned that dealers are running the risk of having their consumer credit licence revoked by the Office of Fair Trading, which has recently stepped up the number of licence refusals and revocations.
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Figures from the vehicle provenance provider showed that many dealers fail to check vehicles.
It warned that dealers are running the risk of having their consumer credit licence revoked by the Office of Fair Trading, which has recently stepped up the number of licence refusals and revocations.
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Tuesday, November 07, 2006
IMI beefs up benefits for industry learners
The Institute of the Motor Industry has teamed up with the National Union of Students to offer candidates registered on IMI qualifications a range of lifestyle discounts.
More than 20,000 students of the IMI will have access to a wide range of student benefits. Nigel Beaven, director of marketing, IMI, said: “This new initiative will give students a wide range of benefits from both IMI membership and the NUS, that they would not have had access to before, which should make a real difference during their learning.”
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More than 20,000 students of the IMI will have access to a wide range of student benefits. Nigel Beaven, director of marketing, IMI, said: “This new initiative will give students a wide range of benefits from both IMI membership and the NUS, that they would not have had access to before, which should make a real difference during their learning.”
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Howard Basford invests in UK sites
Independent accident repair group Howard Basford has invested over £500,000 into upgrading equipment at all nine of its sites.
Every technician and welder at the company’s 300-strong workforce is also to undergo training in the latest repair method.
Chairman Tracy Howard said the investment was crucial to help the group face the technical challenges of new technologies and materials appearing in its bodyshops.
This follows a recent estimate by the Auto Body Porfessionals Club that fewer than 25 per cent of the UK’s 6000 bodyshops were trained and equipped to deal with advanced high strength steels.
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Every technician and welder at the company’s 300-strong workforce is also to undergo training in the latest repair method.
Chairman Tracy Howard said the investment was crucial to help the group face the technical challenges of new technologies and materials appearing in its bodyshops.
This follows a recent estimate by the Auto Body Porfessionals Club that fewer than 25 per cent of the UK’s 6000 bodyshops were trained and equipped to deal with advanced high strength steels.
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Used car sales set to soar
Over five million people in the UK are expected to buy used cars in the six months to February 2007.
According to research by Sainsbury's bank, total expenditure on second-hand vehicles will be close to £26bn during that period.
Steven Baillie, Sainsbury’s Bank loans manager said that figure could be significantly reduced if consumers were prepared to barter.
"Haggling could save hundreds or even thousands of pounds, unfortunately many of us are reticent to do this," he added.
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According to research by Sainsbury's bank, total expenditure on second-hand vehicles will be close to £26bn during that period.
Steven Baillie, Sainsbury’s Bank loans manager said that figure could be significantly reduced if consumers were prepared to barter.
"Haggling could save hundreds or even thousands of pounds, unfortunately many of us are reticent to do this," he added.
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New car sales see slight October upturn
October saw new car volumes take a slight upturn to mark only the second monthly gain this year.
SMMT figures showed sales up 0.9 per cent over the 2005 total, pushing the month's registrations to 153,851. The figure for the year to October, however, still remained depressed at 2.05 million units, 3.2 per cent down on the same period last year.
The SMMT revised its 2006 full-year forecast to 2.345m, 15,000 units above its previous estimate, after the stronger than expected September performance.
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SMMT figures showed sales up 0.9 per cent over the 2005 total, pushing the month's registrations to 153,851. The figure for the year to October, however, still remained depressed at 2.05 million units, 3.2 per cent down on the same period last year.
The SMMT revised its 2006 full-year forecast to 2.345m, 15,000 units above its previous estimate, after the stronger than expected September performance.
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VW considers job cuts
Volkswagen is reported to be planning to shed 2,400 jobs in its plants in Belgium, Portugal and Spain.
The carmaker is looking to significantly cut the capacity of plants in western Europe as well as to reduce production.
However, reports said there were no plans to close any plants. The supervisory board of the car maker will meet to discuss production planning over the next few years on 17 November.
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The carmaker is looking to significantly cut the capacity of plants in western Europe as well as to reduce production.
However, reports said there were no plans to close any plants. The supervisory board of the car maker will meet to discuss production planning over the next few years on 17 November.
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Aston Martin attracts private equity group interest
Aston Martin could return to British ownership after it emerged two UK investment groups are preparing bids for the luxury marque.
According to reports, Permira and Alchemy Partners are each considering £500m bids for the company but will face competition from US buyout firm Texas Pacific Group.
Ford put Aston Martin up for sale this summer. It is expected to command a price of between £350m - £1bn.
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According to reports, Permira and Alchemy Partners are each considering £500m bids for the company but will face competition from US buyout firm Texas Pacific Group.
Ford put Aston Martin up for sale this summer. It is expected to command a price of between £350m - £1bn.
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Sunday, November 05, 2006
Inchcape extends BCA partnership
Inchcape Retail and BCA have announced a new remarketing deal that will see the two companies combine to sell around 60,000 vehicles over the next three years.
The UK’s second largest dealer group has been remarketing stock through BCA since 1994, with the new announcement extending that partnership until 2009. Cliff Deller, who heads up Inchcape Retail’s used car programme, said: “We will continue to work together to look for innovative ideas, identify best practice and process efficiencies, thereby improving returns to our dealerships.”
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The UK’s second largest dealer group has been remarketing stock through BCA since 1994, with the new announcement extending that partnership until 2009. Cliff Deller, who heads up Inchcape Retail’s used car programme, said: “We will continue to work together to look for innovative ideas, identify best practice and process efficiencies, thereby improving returns to our dealerships.”
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New marketing boss for DCUK
DaimlerChrysler UK has appointed Ian Dutfield to the position of marketing director for the Mercedes Car Group.
Dutfield takes on the role from December, having been with the company for over 20 years. He joined as a technical adviser and was promoted through a variety of roles in aftersales to become dealer operations manager and then service support director.
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Dutfield takes on the role from December, having been with the company for over 20 years. He joined as a technical adviser and was promoted through a variety of roles in aftersales to become dealer operations manager and then service support director.
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Dealers fail to stock most wanted used cars
Dealers are failing to stock the used cars consumers want and are missing out on sales and profitability as a result.
Most used car buyers are looking for vehicles over the age of three years but models less than one year old are prominent on franchised dealer forecourts, a study by Eurotaxglass’s found.
The research found that the market is still dominated by buyers seeking older used cars but many dealers are increasingly burdened with expensive late models less than one-year-old.
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Most used car buyers are looking for vehicles over the age of three years but models less than one year old are prominent on franchised dealer forecourts, a study by Eurotaxglass’s found.
The research found that the market is still dominated by buyers seeking older used cars but many dealers are increasingly burdened with expensive late models less than one-year-old.
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Lookers expands with Kia
Lookers has expanded its presence in the north west with the addition of two Kia dealerships in Macclesfield and Stockport.
The expansion also reinforces the brand’s progress towards its target of 100,000 new car sales by 2010. Ken Surgenor, chief executive of Lookers, said: “We are certain that by bringing Kia to our network of dealerships we will be complimenting our existing portfolio of franchises.”
The announcement comes ahead of next year’s launch of the Kia c’eed, the brand’s highly anticipated C-segment model.
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The expansion also reinforces the brand’s progress towards its target of 100,000 new car sales by 2010. Ken Surgenor, chief executive of Lookers, said: “We are certain that by bringing Kia to our network of dealerships we will be complimenting our existing portfolio of franchises.”
The announcement comes ahead of next year’s launch of the Kia c’eed, the brand’s highly anticipated C-segment model.
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Dealer car sales plummet in October
The positive effect of the plate change month was brutally brief as dealers' new car sales in October fell at their fastest rate in ten months.
According to the Confederation of British Industry’s monthly survey of distributive trades, reported sales fell by 42 per cent – the biggest decline since December 2005 when a drop of 43 per cent was recorded.
The CBI said volumes in the sector were not expected to improve in November, with the boost to sales of new registration plates lasting just one month.
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According to the Confederation of British Industry’s monthly survey of distributive trades, reported sales fell by 42 per cent – the biggest decline since December 2005 when a drop of 43 per cent was recorded.
The CBI said volumes in the sector were not expected to improve in November, with the boost to sales of new registration plates lasting just one month.
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Mini to stand alone
Mini aims to establish an entirely solus dealer network by the beginning of 2009.
At present just under half of its 154-strong UK network operates from Mini-only outlets with the rest sharing dealerships with parent company BMW.
Mini wants all customer facing services to be dedicated solely to the brand although back office facilities could still serve both brands. The second generation Mini Cooper and Cooper S go on sale in the UK on 18 November.
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At present just under half of its 154-strong UK network operates from Mini-only outlets with the rest sharing dealerships with parent company BMW.
Mini wants all customer facing services to be dedicated solely to the brand although back office facilities could still serve both brands. The second generation Mini Cooper and Cooper S go on sale in the UK on 18 November.
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Pentagon to open all-brand used car site
Pentagon Group are preparing for the opening of their new all-brand used car operation in Barnsley in January .
The Pentagon Car Shop is being built on a two-acre site which once housed a Fiat dealership and a large used car operation.
The group is currently redeveloping the showroom and 8-bay aftersales facility. It is estimated that the site will house in excess of 250 used cars.
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The Pentagon Car Shop is being built on a two-acre site which once housed a Fiat dealership and a large used car operation.
The group is currently redeveloping the showroom and 8-bay aftersales facility. It is estimated that the site will house in excess of 250 used cars.
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Britain the most costly place to run a car
Britain is Europe's most expensive place to run a car, a new survey has claimed.
The average cost of running a family saloon in the UK is £4,997 a year, which is £642 more than Spain, £513 more than France and £320 more than Germany.
With an average mileage of 12,500 miles a year, UK car ownership works out at 40p per mile. The survey, carried out by Prudential Car Insurance, also found that new cars can cost up to £2,000 more here than in other European countries.
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The average cost of running a family saloon in the UK is £4,997 a year, which is £642 more than Spain, £513 more than France and £320 more than Germany.
With an average mileage of 12,500 miles a year, UK car ownership works out at 40p per mile. The survey, carried out by Prudential Car Insurance, also found that new cars can cost up to £2,000 more here than in other European countries.
DATED: 05.11.06
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