Editor’s Choice

Dealer group Underwoods is to close its Vauxhall dealership in Colchester from 29 April. The company will continue to provide maintenance and warranty repairs at its Vauxhall Authorised Repairer locations in Clacton, Sudbury and Tiptree. On its website the company told customers: “Please note that this decision was not one of Underwoods making, as we have been successfully representing Vauxhall ...

Only one in six (15%) petrol, diesel, and hybrid drivers never intend on switching to a pure electric vehicle. According to the latest ‘The Road Ahead’ research from Close Brothers Motor Finance, as infrastructure begins to improve and the choice of makes and models continues to grow, electric cars are becoming a more popular choice for consumers. Almost 850,000 new ...

Motorpoint said today in a trading update that pre-tax profits for the year to 31 March 2023 will be ‘break even’, in sharp contrast to the £21.5m PTP it achieved last year. It said turnover was set to hit £1.43bn, up about 9%, helped by vehicle mix and price inflation and that it was making ‘good progress’ in its aim ...

Over seven in ten consumers (73%) would be more likely to buy a second hand car this year rather than a new one, to help save money. The Motor Ombudsman has reported that more than a quarter (28%) of respondents to its poll also explained that it would be their first ever experience of buying a used car, having always ...

Luxury used car retailer Autovogue, which ceased trading in February, is £1.09m in debt to creditors according to documents posted to Companies House. The document, posted alongside the resolution to wind up the business, shows that the largest amount is owed to BCA at £685,383. Other notable companies such as Autotrader, The Warranty Group and Haydock Stock Finance also feature ...

Pendragon has posted an underlying profit before tax of £57.6m (FY21: £83.0m) to 31 December 2022. This is ahead of the Board’s expectations at the start of the year, but down on FY21. The Group has labeled this an “outperformance despite c.£10m headwind from approximately £4m higher operating expenses, driven by higher levels of inflation, and approximately £6m of higher ...

H.R. Owen is nearing completion of its multi-brand dealership in Hatfield. The site will house Bentley, Ferrari, Lamborghini and Maserati. The luxury car dealer took to LinkedIn to share images and video of its new facility, first announced in March 2021. In that original announcement, HR Owen said that the dealership will be up and running by Q3 2022 and ...

Kia is rated the top car franchise in the UK in the latest Dealer Attitude Survey from the National Franchised Dealers Association (NFDA). Kia delivered a score of (9.3) out of 10 in the survey, narrowly pipping Lexus (9.2) to the post. Mini was in third sport with an 8.8 rating. An analysis of the ‘overall average score’ across all ...

Lithia & Driveway has bought Jardine Motors Group from Jardine Matheson. The acquisition represents the US Group’s first entry into the UK. Jardine management will remain in place and Lithia has said that employees will not be negatively impacted by the transaction. The group is expected to generate over $2 billion in annual revenue. Reports of Lithia’s interest in buying Jardine ...

The Chancellor Jeremy Hunt used the 2023 Spring Budget to freeze fuel duty for another year and to confirm that corporation tax will rise to 25% from 19%. The Government is now introducing full expensing from 1 April 2023 until 31 March 2026. This means that companies across the UK will be able to write off the full cost of ...