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Oct 28, 2017

On this Saturday’s episode of MotortradeRadio.comPhilip 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.

And finally, some recent research by us at Radar Video showed that 42% of the largest dealer groups are wasting budget on Facebook by not using the platform’s tracking capabilities.
 
This week's shout out, registrations open for MT Digital Marketing Webinar
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