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The UK’s first EV battery strategy has been published, alongside the Government’s Advanced Manufacturing Plan, which sets out a 2030 vision for the UK to have a globally competitive battery supply chain that supports economic prosperity and the transition to net zero carbon emissions. It guarantees targeted support for zero emission vehicles, batteries and their supply chains including £2 billion of recent capital and R&D funding for the five years to 2030, and an additional £38 million to boost the UK Battery Industrialisation Centre’s development facilities, plus other measures including steps to support start-ups and encourage foreign investment. Industry minister…
Maintaining the traditionally strong finance and insurance (F&I) revenue stream inside dealerships is much more vital in an economic climate where consumers are cautious, lead times for brand spanking new cars are longer, and manufacturers are evolving their distribution models, despite May’s latest automobile registrations being up 16.7% (SMMT). For James Tew, CEO of finance platform provider iVendi, the reply lies in technology, especially with stricter Financial Conduct Authority (FCA) Consumer Duty regulations coming into play at the top of July. The corporate has been working closely with UK lenders to include as much information as possible into its platform.…
Lookers’ latest BMW dealership in Crewe is open after a £5.8m injection and significant upgrade. The positioning on Fourth Avenue off Weston Road which closed for major construction works last yr now features the very latest showroom design with each model displayed in modern, state-of-the-art surroundings that features loungelike seating, unique lighting and premium furnishings. The spacious, light-filled and tech-laden latest showroom adheres to BMW’s latest ‘Retail Next’ concept which debuted in america last yr, prioritising space, glass and natural light. The dealership also features an all-new contemporary aftersales space. Lookers’ BMW Crewe redevelopment is its latest investment within the premium marque after…
This week’s Government’s Budget Statement could prove a pivotal point for UK motor retail businesses and their customers, in line with the National Franchised Dealers Association (NFDA). The organisation recently submitted its proposal to the UK government outlining the important thing areas which it believes must be addressed within the budget review to support the automotive sector and overcome challenges hindering the sector. Sue Robinson, NFDA chief executive, said that following a set of ‘problematic’ announcements, the Autumn Statement “presents the chance for Government to hearken to the calls of the sector by outlining a transparent and strategic vision that…
Research has found that the variety of AM100 motor retail groups which did not record a pre-tax profit in FY2022 was double the number that made losses in 2021, at six. AM has now launched the 2023 AM100 Report, studying the UK’s largest and most influential automotive dealers and their latest financial results, and it is accessible here free to read in a digital format. It reveals that although the general return on sales of the AM100 declined year-on-year to 2.2% from 2.4%, the overwhelming majority of AM100 dealer groups achieved good returns, with earnings fuelled by demand-led automotive markets and…
Big Motoring World has now officially opened the recently acquired AvailableCar dealerships at Leeds and Cannock which grow to be the automobile supermarket’s seventh and eighth outlets inside its growing network.It said the opening of the 2 state-of-the-art high-capacity showrooms marks the following milestone within the group’s expansion and confirms its position because the UKs largest automobile supermarket, based on stock volume.In October 2020, Big Motoring World revealed it was actively in search of further premises across major metropolitan hubs as a part of a bid to grow its footprint nationwide.The group has since added an extra five retail sites to…
Tamworth-based LKQ Euro Automobile Parts has launched its first ever finance graduate scheme to create recent pathways for young people seeking to begin their profession within the automotive industry. The aftermarket specialist is recruiting for 3 recent graduate positions in its finance team. Successful candidates will enrol on a three-year programme where they’ll be supported and funded to realize CIMA/ACCA accredited accountancy qualifications. The graduates may also be allocated a private mentor to oversee their progress, in addition to being sponsored by the director of economic finance and financial planning and evaluation (FP&A) Melanie Lowe. Applications are open now and…
Rapid growth in fleet segment latest automobile sales is an indication of carmakers’ return to their traditional habits of enormous volume incentives and increased supply to automobile rental firms. Although the UK’s latest automobile market is anticipated to stay below two million units in 2023, the diminishing lead times, return of finance deposit contributions and ramp up of supply to large fleets are signs of the return to a ‘push’ market wherein increased marketing is critical to helping latest cars find their owners. Brands including Jaguar, Nissan and Mercedes-Benz have attractive consumer discounts on certain models at present, based on the…
Electric vehicle (EV) charging and energy management solutions expert Wallbox has announced a strategic partnership with Osprey, considered one of the UK’s largest rapid EV charging networks. The collaboration will begin by expanding the Osprey network with 125 units of Wallbox’s Supernova DC rapid charger coupled with WBX care program; offering preventative and corrective maintenance to their Supernova fleet. Charge point availability and reliability are each crucial for consumer confidence in making the switch to electric vehicles. Wallbox’s Supernova rapid charger uses a modular design with an easy user-centric experience and payment process. This ensures that EV drivers get ease of use…
Salesforce has launched latest Automotive Cloud innovations to assist automotive firms harness data and AI to offer more personalised in-car experiences, manage fleets, and simplify auto lending and leasing. Automotive Cloud will unify automaker’s data – from vehicle telematics to service records to customer data – to power latest features that provide a real-time, contextualized view of what’s happening inside a vehicle so every driver can get a very personalised experience. Connected cars will make up 95% of all latest vehicles sold by 2030. Today’s connected cars are already generating an estimated 25 gigabytes of information per hour — data that automotive firms must harness to…
