Mitsubishi’s UK boss unveils plans to take the brand upmarket

Posted by in Motoring News | Comments Off on Mitsubishi’s UK boss unveils plans to take the brand upmarket

THE boss of Mitsubishi in the UK has revealed ambitious plans to take the brand upmarket.

Managing Director Lance Bradley says the standard of new models coming through, starting with the Outlander, which went on sale in the autumn, ultimately means ‘the brand will be positioned higher than it is now’.

Bradley said there was space in the market for a specialist 4×4 manufacturer that offered better value than Land Rover, and he explained how marketing would play an important role.

‘Our plan is to continue to spend at the very high level that we are now,’ he said. ‘You can’t move your brand upmarket and increase your sales without that kind of commitment.’

He warned that the Mitsubishi dealer network would need to take on more staff ‘to cope with the demand that’s coming’, and he called for a focus on used cars.

‘It’s essential dealers increase their used car sales,’ he said. ‘It’s a major focus of ours. If we are going to move the brand upmarket, and we need to move ourselves upmarket because of the quality of the cars that we are getting, we need to make that brand experience better. A key element of that is improving our residual values. We need to put more energy into building the customer’s perception of the value of a used car.’

Bradley also described the need for Mitsubishi workshops to hire more staff as a ‘time bomb’, with dealerships facing the prospect of losing out on the more lucrative retail business because of an increase in warranty work and internal work.

He said: ‘The internal work is going to increase because the new and used car volumes are increasing, the warranty work is going to increase because the new car sales are increasing, and we have gone from a three- to a five-year warranty, so if you don’t increase capacity you will have a massive squeeze on retail business and that’s where the profit is, so it’s a huge issue.’

MORE: Motors.co.uk reveals most searched and sold cars across their network

MORE: Slide in the value of used cars during December, reports CAP

MORE: Staff get their Christmas jumpers on to raise money for charity

VIDEO: Dealership puts a musical spin on selling a Toyota

On SuperUnleaded.com: 1,000hp MX-5 drift car gets 360-degree camera

The source article can be found at http://cardealermagazine.co.uk/publish/mitsubishis-uk-boss-unveils-plans-to-take-the-brand-upmarket/103502

read more

Motorpoint preparing for Stock Market debut, according to reports

Posted by in Motoring News | Comments Off on Motorpoint preparing for Stock Market debut, according to reports

MOTORPOINT is preparing to float on the Stock Market, according to reports circulating this morning.

The company, which operates one of the UK’s most high-profile chains of car supermarkets, is working with bankers at Rothschild on a listing that is ‘likely to take place in the second half of next year,’ according to Sky News.

Sky says Rothschild is understood to be in the process of appointing a number of banks to work on the project – and Rothschild could also opt to look at potential takeover offers alongside the listing process.

City sources reckon that any flotation would value Motorpoint at several hundred million pounds.

With eight large showrooms across England, Scotland and Wales, and more than 5,000 used cars for sale on its website, the company says its aim today is the same as when it opened its doors in 1998 – to provide customers with low prices on a wide range of low-mileage new and nearly new cars.

The company’s used car dealerships are in Birmingham, Burnley, Chingford, Derby, Glasgow, Newport, Peterborough, Widnes and Birtley.

The most recent addition to the Motorpoint network was its £5m supersite in Birtley near Gateshead, which began trading last month.

The branch, stretching over nine acres, will house 500 new and nearly new low mileage vehicles from 35 different manufacturers.

There was no reply at the Motorpoint press office when Car Dealer called for comment today.

MORE: Motors.co.uk reveals most searched-for and sold cars of 2015

MORE: Seasonal slide in the value of used cars during December

MORE: Audi RX test drive takes a turn for the worse

On SuperUnleaded.com: Kimi and the gang wish you a Ferrari merry Christmas

The source article can be found at http://cardealermagazine.co.uk/publish/motorpoint-preparing-for-stock-market-debut-according-to-reports/103491

read more

Motors.co.uk reveals most searched and sold cars across their network

Posted by in Motoring News | Comments Off on Motors.co.uk reveals most searched and sold cars across their network

MOTORS.CO.UK has revealed the most searched for and sold cars across its network in 2015.

In a move designed to support dealers planning their stocking policies for next year, Motors.co.uk has shared the top 10 vehicles clicked on and sold in each of seven key body style categories: 4×4, convertible, coupe, estate, hatchback, people carrier and saloon.

While Land Rover, Mercedes-Benz, Ford and Vauxhall topped the charts across the various segments in terms of sales, the search results were a little more open. Here, MG, Bugatti, Alfa Romeo, Honda, Mayback, Mercedes-Benz and SEAT all took the top honours. Unsurprisingly, the data on searches also revealed a much wider range of models within the manufacturer categories.

Dermot Kelleher, director of marketing and business intelligence at Motors.co.uk, commented: ‘Clearly, we would expect to see the mainstream manufacturers represented across both sales and searches.

‘However, it was interesting to see some of the difference in how people search for cars and what they ultimately buy.

‘For example, while no one would be surprised to see Mercedes-Benz top the sale list for both convertibles and coupes, SLK and C Class respectively, the search results features the MG MGTF and the Bugatti Veyron – a lot further out of most peoples’ price range.

‘This kind of data can be really useful for dealers when it comes to pulling together their stocking policies for the next 12 months.

‘Understanding what consumers are searching for and what they ultimately spend their money on can help to inform which vehicles should be on the forecourts and, also, which models are likely to draw attention from which you can then move on to sell something else.’

MORE: Slide in the value of used cars during December, reports CAP

MORE: Staff get their Christmas jumpers on to raise money for charity

MORE: New Mitsubishi dealership is the 12th to open this year

VIDEO: Dealership puts a musical spin on selling a Toyota

On SuperUnleaded.com: 1,000hp MX-5 drift car gets 360-degree camera

The source article can be found at http://cardealermagazine.co.uk/publish/motors-co-uk-reveals-most-searched-and-sold-cars-across-their-network/103462

read more

Seasonal slide in the value of used cars during December, reports CAP

Posted by in Motoring News | Comments Off on Seasonal slide in the value of used cars during December, reports CAP

THE used car market weakened during December as used values dropped by 1.8 per cent, in a predicted seasonal slide.

Derren Martin, pictured, senior editor at CAP Black Book, said: ‘Buyers were back in the market early in December, looking for stock for January, but they were not buying in bulk. Demand softened as the month progressed, and volumes in the wholesale marketplace remained steady.

‘The number of actual trade sales through auction was around nine per cent lower than in November. However, auction sales were up 6.5 per cent on December 2014.

Overall, prices within the data received by CAP continue to weaken at a similar rate to the previous six weeks, and as a result, values dropped in Black Book Live by 1.8 per cent at the three-year, 60,000-mile point.’

CAP predicts 2016 will be a challenging year, as volumes in the used car marketplace continue to rise thanks to record levels of new car registration. Stability in the market will rest on strong retail demand.

We are predicting there will be more pressure on prices during 2016

Martin continued: ‘Late plate cars are likely to be an issue in 2016. Many manufacturers continue to register tactically and rental registrations increased in 2015. These cars enter the used market and compete with new car offers.

‘We are predicting there will be more pressure on prices during 2016 than there has been over the last 12 months. The seasonal pattern is likely to be similar to that of the last few years: stability for quarter one, steady drops in values for quarters two and three, followed by a heavier decline in the final months of the year.’

CAP data showed different sectors reacted very differently in 2015. A city car measured at the three-year-old point at the end of this year is worth 15 per cent less than the same car a year ago, where a three-year-old SUV was just four per cent less.

City cars have faced the most price pressure due to the attractiveness of new car offers, increases in used volumes and pre-registration activity. The volume of used city cars within CAP’s sold trade data has doubled in the last five years.

A three-year-old vehicle in the luxury executive sector had a higher value than the same vehicle a year ago, by around 1.5 per cent, with luxury vehicles holding their value due to low volumes, and steady demand from more affluent consumers.

MORE: Staff get their Christmas jumpers on to raise money for charity

MORE: New Mitsubishi dealership is the 12th to open this year

MORE: Audi R8 test drive takes a turn for the worse

On SuperUnleaded.com: 1,000hp MX-5 drift car gets 360-degree camera

The source article can be found at http://cardealermagazine.co.uk/publish/seasonal-slide-in-the-value-of-used-cars-during-december-reports-cap/103393

read more

VIDEO: Dealership puts a musical spin on selling a Toyota

Posted by in Motoring News | Comments Off on VIDEO: Dealership puts a musical spin on selling a Toyota

A TOYOTA dealership has put a musical spin on the sales process with a video that has become a hit on You Tube.

The staff of Steven Eagell Toyota in Letchworth Garden City, Herfordshire, show an amusing side to the customer journey with witty lyrics and high video production values.

Taking the lead is Sales Executive Ricky Rose, pictured above with colleagues in the video, who came up with the idea for the runaway online hit Ricky Rose – What You Gonna Buy? (A Toyota).

‘I was on a training course with Martec Europe and our homework was to come up with a script – so I came up with the rap that combines the two passions of my life, music and cars,’ Ricky told Car Dealer.

‘Everybody thought it was really good and we decided to make a video. Everything you see is down to Dama James, who is group marketing manager at Steven Eagell,’ added Ricky. ‘I’m really, really excited it has done so well, and it’s great that the managers and directors let us go ahead with it. We really wanted to get across what we do.’

The video – which is set to the music of Nelly’s international hit Hot In Herre – was shot in and around the dealership over two or three days, with filming slotted in between work schedules. At the time of writing the video had received thousands of hits on You Tube.

MORE: Staff get their Christmas jumpers on to raise money for charity

MORE: Now independents can access cash-for-cars market with new website

MORE: Ready to download to your iPad now – issue 94 of Car Dealer

On SuperUnleaded.com: Rough and ready – Leh Keen hits the forests in Safari 911

The source article can be found at http://cardealermagazine.co.uk/publish/dealership-puts-a-musical-spin-on-selling-a-toyota/103387

read more