Hendy Group set to scale AM100 with Westover Group acquisition
Hendy Group expects to scale the AM100 with a turnover of over £1 billion following its acquisition south coast-based Westover Group.
Hampshire-based Hendy should add considerably to the £555 million revenue it achieved in 2017 to climb into the AM100’s top 15 (2018: 29th) with the acquisition of 46th-placed Westover, which achieved a turnover of £336m in 2017.
NAMA predicts surge in volumes at April auctions
The National Association of Motor Auctions’ (NAMA) market attitude survey shows that most auction centres expect to see petrol and diesel car values to remain stable, with only 5% of respondents expecting a decrease in petrol prices and 15% expecting a drop in diesel. Values of alternative fuel vehicles (AFV) are thought to also remain steady during April or even actually increase as demand for them begins to rise.
AFVs are generally expected to increase in value and number in 2019, with more plug-in hybrids and BEVs going through auctions, increasing supply and starting to normalise their price behaviour. The Euro-6 market looks set to perform particularly well, with over 40% of members expecting an increase in values with a further 50% expecting values to remain stable.
Vospers opens £15m five-brand car retail super site in Exeter
Vospers has officially opened the doors to its £15 million car retail super site, bringing together three sites and Ford, Mazda, Alfa Romeo, Jeep and Fiat dealerships in one location in Exeter. The 45,000 square-foot development is the largest development at Exeter’s Matford Green Business Park and is now welcoming customers following a 12-month build programme completed by Leeds-based car dealership developments specialist, APP Construction.
TrustFord supports World Autism Awareness Week
TrustFord has shown its support for the National Autistic Society by helping to raise awareness throughout World Autism Awareness Week (April 1 to 7). The Ford of Britain-owned AM100 car retail group has consistently aligned its support with the National Autistic Society, as TrustFord became the “first and only” automotive company to participate in 2017’s ‘Autism Hour’ initiative.
Clocking costs used car sector £800 million a year, says Cap HPI
The problem of vehicle clocking is one the rise with one-in-14 cars on UK roads showing “mileage discrepancies”, according to research carried out by Cap HPI.
The proportion of affected cars has risen from one-in-16 in 2017 and one-in-20 cars in 2014, an increase of nearly a third (30%) in just five years – costing motorists over £800 million every year.
HPI estimates that 1 in 3 cars that it checks every year has a hidden history.
Consumer car finance market sees increase in February
The point of sale (POS) consumer car finance market increased 2% by volume and 6% by value in February 2019, compared with the same month in 2018. Figures released by the Finance & Leasing Association (FLA) show that the percentage of private new car sales financed by FLA members through the POS was 91.1% in the twelve months to February, 0.1 percentage points lower than in the same period to January 2019.
The POS consumer used car finance market reported new business in February up 2% by volume and 7% by value, compared with the same month in 2018.
The Epic Thames Waterbike Ride is this year’s Industry Leader Challenge (ILC) in aid of Ben – the independent charity for the automotive industry. The feat of endurance will see Volvo Car UK managing director Jon Wakefield, Allianz Partners UK & Ireland chief executive Tim Tozer, and Group 1 Automotive managing director Darren Guiver pedal the 166-mile route on waterbikes, with a fundraising target of £300,000 to support industry employees going through tough times.
02.04.2019, Car Dealer Magazine: http://cardealermagazine.co.uk/publish/ben-reveals-full-details-industry-leader-challenge-2019-epic-thames-waterbike-ride/169061
Swansway Crewe named Seat Fleet Dealer of the Year
Seat UK has named Swansway Crewe Seat Fleet Dealer of the Year, thanks to the quality of it service delivery to fleets, resulting in strong customer satisfaction and sales growth of 38% in 2018. Supporting businesses across the fleet market, from SMEs to large institutional customers and leasing company sales, Swansway Crewe has effectively integrated Seat’s Local Business Development Manager (LBDM) and Fleet Excellence programmes, the manufacturer said.
The Seat Fleet Dealer of the Year award is designed to highlight fleet sector excellence across a range of key areas including customer service.
Diesel pump price could fall by 3p a litre
The RAC says if retailers reflect wholesale fuel prices, diesel should fall by around 3p a litre in the next fortnight, whereas petrol could increase by 2p in the coming weeks. RAC Fuel Watch data shows that the average price of petrol rose for the second month in row, with a litre going up by 2p in March to 122.58p. The average price of diesel also increased but only 0.70p to 130.67p taking a fill-up to £71.87. This is the second straight monthly increase for both fuels, making unleaded 2p more expensive than it was at the same time in 2018 and 2017 (120.11p – 2018; 120.15p - 2017).