NEWS

Volume to return by 2014

CAR production will return to 2007 levels in 2014 with an EU market of 20.4 million motors predicts the SMMT. This is a much more positive outlook than estimated a few months ago. ‘Although vehicle production volumes across Europe fell by more than 2.8 million units in 2009,’ said the SMMT’s Paul Everitt, ‘there is [...]

	Ford Retail record profits
FORD Retail has reported a record-breaking 2009 turnover of £1.15bn that sees it return to profit. The Ford-owned UK retail group made a pre-tax profit of £15.7m, reversing a £0.85m loss for year-end 2008. A sales increase of more than 7 percent helped this performance, and led chairman and chief exec Chris Hayden to say [...]

	Jaguar premium 2010
2010 will be a critical year for Jaguar car dealers as the firm formally adopts a defined premium strategy. Jaguar dealers will be rewarded for the pain of recent years with better profits and ‘class leading’ cars to sell. ‘The X-Type has now finished,’ Jaguar UK MD Geoff Cousins told Car Dealer Magazine at the [...]

	Used value rise slows
USED car prices are still rising but the rate of improvement has slowed to an average of just £20. BCA reports the marginal average rise equated to an average month-on-month increase of 0.3 percent. Why the slow in improvement? Well, it’s not because the market is losing enthusiasm, says the BCA Pulse report. It is [...]

	Positive used outlook
MANHEIM has predicted 2010 will be a positive year for used car retailers as the recovery continues. However, it has also warned car dealers to start preparing now for future challenges in the used car market. Weak registrations in 2008 and 2009, it explained, will limit the use car pool in 3 to 4 years’ [...]

		Car auction prices rise
		PRICES at used car auctions are going up for the first time in 4 months reports one auction house. Auction4cars says average part-exchange values recorded a 15 percent rise in January compared to the month before. That equates to an average of over £400 on the price of a motor. Group disposal manager at Motorpoint, [...]
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		4×4 prices recovering
		HPI Valuations is warning car dealers to buy posh SUVs now before prices used prices start to rise. The under-fire sector is finally showing signs of recovery and prices are expected to go up. It is all thanks to newer greener models such as the BMW X6 and latest versions of the Land Rover Discovery [...]
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		No end for recession
		CAR dealers do not expect the market to resume pre recession levels for at least another 5 years, says research. Castrol Professional findings mean long-term planning is more important than ever. ‘The general consensus is that the recovery is likely to be a slow, and possibly painful, process,’ said Castrol marketing manager Nigel Head. The [...]
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		Mondial and BMW
		BMW has marked its 25-year association with Mondial Assistance, by awarding the firm a new contract. Mondial will continue to provide pan-European breakdown assistance cover for BMW car owners, via its distinctive branded silver BMW 5 Series Tourings. The recovery firm reckons it can fix 84 percent of problems on the road. Car dealers come [...]
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		Used prices’ rise
		6 consecutive months of price rises offer yet further proof the used car market is recovering, reports BCA. The market has improved by more than 18 percent since the nadir in October 2008. The 1 percent rise in April – an average of £59 – was some way short of £400 plus figures seen earlier [...]
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		Skills to drive recovery
		CAR firms will need to outsource specialist jobs when the recession starts to fade, reveals a motor consultancy. Network Automotive reckons that staff cuts have been so severe, only tendering out for specialism in areas such as Motability and blue light sales will meet demand. This will be essential if support to car dealers is [...]
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