28th October 2017 Saturday Morning Show
Oct 28, 2017
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.