In the May June issue we have our annual Motor Trader Top 200 Dealer Groups, which highlights the challenges facing dealers that have impacted the bottom line.
Challenges included high interest rates, the demands of the ZEV Mandate, used car stocking issues, higher inflation and taxation and the cost of living. This took its toll with 44 groups recorded pre-tax losses compared to 23 last time.
Average pre-tax profit as a percentage of sales for the MT Top 200 was down at 0.85% – a similar level to 2019 and well down on 2020 to 2023. And 44 groups recorded pre-tax losses compared to 23 last year.
The total number of staff employed is up 2% at 143,375 but still below the pre-pandemic year of 2019.
This issue also takes a hard look at the motor finance redress scheme. Our legal partner MILS spells out what it means for dealers and the reporting they must do, going back years to find information on motor finance deals.
The scheme is being challenged but whatever guise it ends up, finding the records is the name of the game. The NFDA, which has been working on motor finance redress, also gives practical advice in this issue.
Chinese cars are once again the headlines. Steve Young headed over to the Beijing motor show to run his eye the product on offer. What comes across strongly is the sheer scale of the offers, the large number of brands and makes and the improved quality of the product on offer.
Guy Bird was also in China talking to the top brass at Jaecoo & Omoda to get their long-term strategy. And in the UK, we have coverage of the plans from Aion, the latest Chinese carmaker to hit these shores.
Nearer to home we have the interview with Darren Cooper, MD of Peter Cooper which has expanded in recent years taking on Kia and more recently Omoda and Jaecoo while maintaining and valuing its long-held business with Volkswagen
