F&I Management & Training

BCA Marketplace 176.00p (+8.00p)

Caffyns 582.50p (-12.50p)

Cambria Auto 78.50p (no change)

Inchcape 675.50p (-20.00p)

Lookers 142.80p (-5.30p)

Marshall Motor 199.00p (+46.50p)

Motorpoint Group 231.75p (+1.25p)

Pendragon 41.00p (+0.05p)

Vertu Motors 60.00p (+1.00p)

DATED: 06.06.16

FEED: ARN

Japanese car maker Suzuki has become the latest manufacturer to become embroiled in a fuel economy test scandal. The firm’s headquarters were raided by officials as part of an investigation into the improper reporting of fuel economy test results. Recently Suzuki said it found “discrepancies” in its tests but denied cheating, later clarifying the statement saying it failed to use approved testing procedures and infrastructure due to a lack of manpower and investment. The company added that the vehicles concerned were destined for the domestic market.

Suzuki follows Mitsubishi in becoming the latest Japanese car maker to fall foul of domestic fuel economy testing procedures, while on a global level Volkswagen has been joined by a number of rival European car makers as investigations into the use and legality of so-called emissions ‘defeat devices’ continue.

DATED: 06.06.16

FEED: ARN

A personnel reshuffle at premium auto retailer HR Owen has seen Manish Patel, currently group accountant, assume the responsibilities of recently departed financial director Graham Vincent. Mr Patel, who has been in the automotive industry for almost two decades, has worked at HR Owen for the last 10 years. Established in 1932, luxury brand retail group HR Owen boasts retail sites in London, Cheltenham, Berkshire, Surrey, Hertfordshire and Greater Manchester. It is also the official UK retailer for Bugatti and Pagani. 

DATED: 06.06.16

FEED: ARN

Independently owned auto retailer Riverside Motors has recorded improved sales and pre-tax profits, according to its latest accounts. For the year to 31 December 2015, the Mitsubishi, Seat and Volvo retailer posted pre-tax profits of £1.46 million - up from £1.34 million for the previous year. Turnover was £84.4 million, compared to £75.4 million for the previous 12 month period.

Despite the positive financial performance, commenting in its strategic report the retailer acknowledged that the current trading environment was a challenging one. Established in 1982, Riverside Motors operates franchised businesses in Doncaster, Scarborough and Hull.

DATED; 06.06.16

FEED: ARN 

Lincoln-based auto retailer Dennis Horton Group has embarked on a major revamp of its Skoda showroom facilities. Located on Kingsley Road, the 30-week, £1.3 million project includes a 6.5 metre showroom extension, a complete interior refresh and work to expand the retailer’s service area. Parking facilities will also be expanded, while the retailer plans to fill around 10 new positions as part of the business overhaul.

Despite the considerable upgrade to the site, the business will stay open during the revamp. Speaking to the Lincolnshire Echo, Oliver Horton, director, said: "Everything is getting stripped back to the bare bones and is being done again. It will double the size of the showroom.”

DATED: 06.06.16

FEED: ARN

BMW has been reported to the Competition and Markets Authority by Carwow for what it believes are “anti-competitive” controls that stop franchise holders from using the online car sales channel.

“We have reported BMW to the CMA,” confirmed Carwow boss James Hind, speaking to Auto Retail Agenda. “We believe there are a lot of their dealers who want to join Carwow but BMW is stopping them.”

BMW is one of the few major brands that is not represented on Carwow.

Mr Hind said: “We think it’s a contravention of European Block Exemption Regulation and is anti-competitive. Ultimately we believe it goes against the customer’s best interest.” Mr Hind added that reporting a company to the CMA was the “easy bit” and that now it was up to the government body to decide if it would investigate.

A BMW spokesman responded saying: “We are aware of the legal situation. It’s something we feel that Carwow does not have any substance in European law in making their claim so there is a discussion between the two legal departments.”

The move by Carwow follows a similar situation in Germany where Ford, Opel and Peugeot Citroen had to climb down from restrictions on how their networks cooperated with intermediaries. The manufacturers were forced to change their retailer controls under legal proceedings initiated by the Bundeskartellamt, the independent competition authority whose task is to protect competition in Germany.

FEED: ARN

DATED: 06.06.16