F&I Management & Training

 BCA Marketplace 175.00p (-3.50p)

Caffyns 572.50p (-7.50p)

Cambria Auto 68.50p (-3.50p)

Inchcape 635.00p (-29.50p)

Lookers 130.00p (-2.30p)

Marshall Motor 189.00p (-17.00p)

Motorpoint Group 229.25p (-1.25p)

Pendragon 36.00p (-2.18p)

Vertu Motors 55.00p (-2.25p)

DATED: 20.06.16

FEED: ARN

HENDY PLANS £9M SHOWROOM EXPANSION

Hampshire-based auto retailer Hendy Group has submitted an application to build a new Mazda, Kia and Honda facility on land previously occupied by Eastleigh Borough Council. According to the Southern Echo newspaper, the retailer has plans for a site that will accommodate 120 used vehicles, a 20 bay workshop facility and a multi-brand showroom with space for 27 vehicles. 

Speaking to the newspaper, Hendy Group managing director Paul Hendy said the £9 million development would be a key milestone in the company’s 157-year history. If approved, the site could be open to the public by summer 2017. News of this application follows on from Hendy’s recent acquisition of the Lifestyle Motor Group, which has resulted in a combined reach of 25 locations in the Surrey, Sussex, Kent, Hampshire and Devon regions.

DATED: 20.06.16

FEED: ARN

Williams Group, a North East of England auto retailer, has recorded what it called a “strong trading performance in 2015” as its financial results for the year ended 31 December 2015 highlighted an improved year-on-year performance from all areas of the business. Gross profit in 2015 for the BMW, Mini, Jaguar and Land Rover retailer was £43.8 million, up from £38 million in 2014. 

Against a backdrop of rising UK registrations, Williams also saw a rise in fortunes as the company’s BMW division registrations were up14.4 percent against a market increase of 12.4 percent. Retail sales growth of 12.3 percent was attributed to a combination of the attractiveness of PCPs, low interest rates and strong brand residuals. Mini registrations were said to be in line with the market, while retail sales grew by 21.8 percent thanks to OEM incentives. Land Rover, its BMW motorcycle operation and corporate sales all performed above expectations, with the latter delivering a 22.2 percent increase in sales (1,941 up from 1,588) over 2014.

DATED: 20.06.16

FEED: ARN

OSBORNE WARNS OVER EU VOTE FALLOUT

With the UK’s EU referendum vote on Thursday, Reuters reports that Chancellor George Osborne has said he believes that a ‘leave’ vote could prove more damaging to the nation’s economy than predicted by current government forecasts. In a television interview on Sunday, Osborne referenced an existing estimate of a five to six percent drop in GDP and said “it's possible that it could be quite a lot worse than that.”

The Chancellor was referring to a Treasury estimate in May that expected a vote to leave would see the UK’s economy shrink by six percent within two years of the referendum, while inflation would rise sharply and house prices would suffer an 18 percent drop in value. With an emphasis on consumer-related issues, Osborne went on to say: “People are doing this already. They are not buying houses, they are not buying cars. They are delaying investment. This is before the vote. This is a taste of things to come.”

The IMF had already issued a similar warning, claiming Brexit is the "largest near-term risk" to the UK economy. However, economists for the Leave camp have said the consensus that a UK exit would be bad for the economy was "based on flawed EU-centric models".

DATED: 20.06.16

FEED: ARN