Philip interviews Chris McDonald, CEO of REEP Group, Automotive Car Care Specialist. Chris shares how detailing has changed over the years, along with why nationwide coverage is so important to dealers. They also discuss, the products and services on offer, along with both how it can benefit the value of the vehicle and the trends of vehicle detailing.
On this Saturday’s episode of MotortradeRadio.com, Philip Nothard of COX Automotive joined by Curtis Hutchinson, editor atMotortrader.com to discuss the latest headlines, Pendragon is carrying out a strategic review of its business as it announced that underlying pre-tax profits for the year to 31 December 2017 will fall 20% to £60m compared to £75.4m in 2016. And, a big push on commercial vehicles helped Ford dealer group Peoples generate record turnover in the year to 31 July 2017 although profits dipped.
Conversely, Inchcape turned in a strong international performance in the third quarter, up 14.6% to £2.3bn.
In other news, the rate of pay rises have fallen across the motor retail sector as a result of the long expected slowdown, according to the 2017 Motor Salary Survey by accountants and business advisers BDO. And, the latest figures available from the Finance & Leasing Association obtained by Motor Trader show that in the 12 months to June the value of used PCPs processed by dealer rocketed 20% to £6.9bn.
MotoNovo Finance has called for car finance houses to adopt a more conservative approach to residual values and the Guaranteed Minimum Future Value (GMFV) offered on PCPs and other products. Whilst, a survey from the Financial Conduct Authority (FCA) which found that motor finance is used by just over five million UK adults in the UK.
On this Saturday’s episode of MotortradeRadio.com, Philip Nothard of COX Automotive joined by Curtis Hutchinson, editor at Motortrader.com to discuss the latest headlines, Lance Bradley to step down as MD of Mitsubishi UK in 2018 and Motors.co.uk to launch Price & Go part-exchange and disposal service.
Vertu Motors is poised to support its online used car buying service with an “aggressive” marketing campaign following its soft launch in May.
In other news, Polestar, Volvo Car Group’s performance arm, has announced that its cars, which go into production in 2019, will be configured and ordered online using an app or online portal. Less than 2% of the total value of car finance arranged via dealers is provided by companies specialising in the sub-prime segment, that’s the conclusion of a new report from Apex Insight.
And finally, a survey carried out by Cox Automotive found that nearly nine out of 10 dealers plan to review their fuel profiles in 2018 in response to consumer uncertainties around diesel.
Plus, shout-out for the SMTA dinner and Motor Trader Summit in November, and an exclusive interview with Sam Watkins, Sales & Marketing Director at CW Walton (Bruntingthorpe), discussing with Philip, the relaunch of the VRA and the forthcoming Seminar.
Join Derek & Phil this week as we discuss the September new car registrations. We also cover iVendi's take on how Apple's face recognition could help online finance applications and we touch on #GDPR, the FCA and poor quality mobile phone coverage!
Yvonne Hignell, Care & Support Services Director of Ben Motor Charity makes a welcome second appearance on Motor Trade Radio with Philip. Yvonne and Phil talk about mental health in the workplace and the #HatsOn4MentalHealth campaign on the 13th October. Download FREE http://bit.ly/HatsOn4MentalHealth