Author: Tim Rose
Used automotive marketplaces Cazoo and Cinch are reported as being amongst the businesses looking for to purchase a few of Cazoo’s assets. Cazoo’s marketplace operation, including its mental property assets, are the goal of MOTORS, Sky News reports. And ahead of Cazoo’s administration, its recovery advisers Teneo have reportedly done a cope with Constellation Automotive, the parent group of Cinch and Marshall Motor Group, to purchase tackle of its leasehold properties and avoid wasting jobs. A Cazoo spokesperson said: “This marks the most recent step within the planned restructuring of Cazoo which began at the tip of last 12 months. Our recent marketplace…
Cost-cutting aimed toward saving £10 million annually from Group 1 Automotive’s UK operation are continuing to play out through the second quarter of this 12 months to deliver advantages to the underside line. Group 1 Auto UK has reduced headcount by around 10% through Q1 redundancies, and is making reductions through demonstrators, managing used automotive stocks and other efficiencies after it was slow to react to trading conditions in late 2023 and it had turn out to be inefficient in recent times. Daryl Kenningham, president and chief executive of USA-based Group 1, told AM the corporate “took a tough take a…
The UK automobile parc, the variety of cars registered for UK roads, reached 35.7 million by the tip of 2023, in line with the Society of Motor Manufacturers’ Motorparc database. That total comes after the UK’s strongest post-pandemic latest automobile market last yr. The information confirms, nevertheless, that franchised dealer networks could possibly be missing an enormous opportunity in aftersales from specializing in young cars, particularly as electrification ramps up, as two in three of all cars currently are older than seven years. Almost one in three cars has been on the road for not less than 12 years, which is…
LEVC has announced that its first passenger automotive to achieve the UK market will probably be an MPV able to seating between six and eight adults, depending on the configuration. The LEVC L380 is an opulent electric people carrier built on parent group Geely’s newest electric vehicle (EV) platform, and it’s going to be available to buy within the UK inside the following two years. Currently LEVC is best known within the UK for its TX electric taxi and its VN5 panel van based on the identical vehicle, and its UK dealer network includes AM100 groups Caffyns, Endeavour Automotive and Vertu Motors. The…
