Auto Retail Agenda: 2 April 2024
01 April 2024
- FORD CHOOSES ALLEGO FOR RETAILER EV CHARGERS
- HOLDEN GROUP OPENS CUSTOMER CARE HUB
- RON BROOKS EXPANDS WITH SUZUKI
- CITI PREDICTS EV SALES TOO SLOW TO MEET CO2 TARGETS
- NETWORKS REPORT NOW ON SALE
- TOYOTA REJECTS AMAZON SALES
- BILLIONAIRE BROTHERS BUY US RETAILERS
- STOCKWATCH
- COMING UP: UK consumer credit
- ENERGY BILLS LOWEST IN TWO YEARS
- LARRY FINK WARNS OF ‘SNOWBALLING’ US DEBT
Ford chooses Allego for retailer EV chargers
Ford has partnered with EV charging network Allego to roll out ultra-fast chargers for customers and public at its European retailers, including the UK. The first chargers will be installed starting Q1 2025 and be in place over the next three to four years.
Allego is investing in the charging stations, so will receive the revenue from them – but members of the Ford BlueOval charging service will receive preferential rates. They will charge at speeds of up to 400kW.
“By opening them up to the public, they will bring owners of other EV brands into contact with Ford products at retailers,” said Ford Model e head of charging Joerg Hofmeister. “It’s a great opportunity to showcase our products.”
Allego CEO Mathieu Bonnet added that “by enabling any EV driver to charge at these Ford dealerships, we contribute to better EV penetration”.
Holden Group opens customer care hub
Holden Group has opened a new Care Hub for customers in Norwich. It centralises enquiries from all its retailers, which include Dacia, Honda, Kia, MG, Renault, SEAT and Volvo. “Our new care hub will offer seamless, consistent service across all of our dealerships,” said Holden Group MD Martyn Webb.
Bethany Metcalf, Care Hub manager, added: “Our goal is to enhance the overall customer service experience, making it more convenient, efficient and personalised.”
All customer queries will be directed to the hub, from vehicle maintenance and managing service, to scheduling MOT appointments.
Ron Brooks expands with Suzuki
Ron Brooks has been appointed Suzuki sales and service for Derby and the wider area. It complements the retailer’s other Suzuki business in Mansfield, Nottingham. The site will open in the coming weeks and is part of the retailer’s growth pipeline to exceed £100m turnover.
Group manager Tom Slack said the strategy was to “grow meaningful relationships with selected brands at scale” and thanked Suzuki MD Dale Wyatt and the wider management team for putting the brand’s faith in the 60-year-old retailer.
Citi predicts EV sales too slow to meet CO2 targets
Sluggish EV demand may hinder European efforts to meet 2030 net zero targets, Citigroup analysts have warned. The bank predicts EVs will make up 18% of vehicles on the road in 2025, and 40% in 2030. Analysts had earlier predicted EVs would make up 22% and 50% of the parc by 2025 and 2030.
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WORLD NEWS
Toyota rejects Amazon sales
Toyota has no plans to follow Hyundai and sell vehicles on Amazon. North America executive vice president for sales Jack Hollis said it was “dangerous to go outside the dealership system”. Instead, Toyota is working with retailers to improve the digital experience for customers.
Billionaire brothers buy US retailers
Duff Capital Investors, owned by brothers Tom and Jim Duff, has bought two more US retailers, John O’Neil Johnson Toyota and Hyundai. They now own eight retailers. The family is also known for its five-decade history in the tyre business.
Each brother has a net worth of $3bn.
STOCKWATCH
Closing prices on 28 March 2024 and weekly change
Auto Trader Group 700.2p (-62.2p / -8.5%)
Caffyns 450.0p (n/c)
Halfords 160.5p (+1.5p / +0.9%)
Inchcape 724.0p (+35.0p / +4.9%)
Motorpoint 134.0p (+4.0p / +3.0%)
Pinewood 38.4p (+0.2p / -0.5%)
Vertu 67.5p (+1.3p / +1.9%)
COMING UP
Tuesday, UK consumer credit
Tuesday, BRC shop price index
Friday, Halifax house price index
27 April, NFDA Spring Ball
3 May, Radius Law Annual Conference
MONEY MATTERS
Energy bills lowest in two years
The average annual energy bill for a household has dropped by £238 to £1,690 under the latest Ofgem price cap. The cap affects 29 million households in England, Wales and Scotland; rules are different in Northern Ireland, but prices are also falling there too.
Larry Fink warns of ‘snowballing’ US debt
Larry Fink, boss of the world’s biggest investment group BlackRock, has warned “snowballing” US government debt has reached “very dangerous” levels. The federal government has issued $11.1 trillion of additional debt since the start of the pandemic and cannot “take for granted” investors continuing to buy US treasuries.
Phillip Swagel, head of Congress’ independent watchdog the Congressional Budget Office, also warned the US might face a Liz Truss-style market shock if it carried on borrowing on the same unprecedented trajectory.
Tags:
Allegro, Amazon, Citi, debt, Duff Capital, energy bills, EV, Ford, Holden Group, Hyundai, Networks Report, Ron Brooks, Suzuki, Toyota 
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