• STELLANTIS REBRANDS PSA RETAIL, MOTOR VILLAGE IN ONLINE PUSH
• CAMBRIA’S MULLINS DEPARTS NEWLY PRIVATISED GROUP
• BREARLEY TO SET UP ON OWN AFTER INCHCAPE DEPARTURE
• RYBROOK AGAIN 100% OWNED BY WHALE FAMILY
• SYTNER FERRARI FIRST IN 15 YEARS
• RETAILERS ON TRACK FOR RECORD PROFIT
• GROUP 1 EXITS BRAZIL
• STOCKWATCH: Auto Trader up 16.1% after 121% rise in operating profits to £151m
• COMING UP: UK retail sales, consumer confidence
• JOB VACANCIES HIT ALL-TIME HIGH
• HALFORDS CALLS FOR GOVERNMENT EV TRAINING FUNDS

Stellantis rebrands PSA Retail, Motor Village in online push

Stellantis’ owned retail divisions PSA Retail and FCA’s Motor Village, which merged in February, have been rebranded ‘Stellantis &You, Sales and Services’. The firm claims it is the second-largest automotive distribution company in Europe; the new branding will be used across 12 countries.

It has a goal of 25% online sales by 2030 – and improving retailer profitability by 50% “while equally decreasing its physical footprint”.

A new website will become the “digital one-stop-shop” for sales, aftersales and car rental: Stellantis & You, Sales and Services senior vice president Anne Abboud is targeting best-in-class e-reputation results. Owners will also be able to sell their cars to the retail division.

The move is the latest in Stellantis’ revamp of sales and distribution in Europe. Existing contracts with retailers will be scrapped after June 2023 and premium brands Alfa Romeo and DS will move to an agency model.

Speaking to two thirds of the two networks last week (the other third were not told about the meeting), Alfa Romeo CEO Jean-Philippe Imparato said brands will have a year to “align” with their manufacturer over agency agreements.

In the UK, Robins & Day will change its name to Robins & Day by Stellantis &You UK from January 2022.Stellantis &You has 225 multibrand sites across Europe, 35 Distrigo spare parts warehouses and more than 11,000 employees.

https://bit.ly/3DjpXlu

 

Cambria’s Mullins departs newly privatised group

Cambria’s finance director James Mullins is understood to have left the business and is currently on gardening leave.

Companies House has recorded Mr Mullins as no longer being a director of Cambria Automobiles from the end of last month. Sources close to Mr Mullins told Auto Retail Agenda he is on gardening leave.

Cambria was recently taken private by CEO Mark Lavery.

Both Mr Mullins and Mr Lavery were contacted for comment.

 

Brearley to set up on own after Inchcape departure

James Brearley, who is leaving Inchcape at the end of this year after five years in the role of UK retail CEO, is understood to be planning to set up his own retail business.

Sources told Auto Retail Agenda it was clear six years ago that Mr Brearley wanted to set up his own operation when he left Pendragon and that was now his plan.

Mr Brearley’s original plan in 2015 was blocked by a legal case brought by Pendragon. Mr Brearley also recently lost a case he brought against the legal firm that advised him at the time.

George Ashford, currently Inchcape’s group chief transformation officer, will take on the CEO, Inchcape UK role on an interim basis.

 

Rybrook again 100% owned by Whale family

Rybrook is back in the full ownership of the Whale family after buying out the investors which helped the Midlands-based group return to private ownership in 2003.

Commenting on the move, chief executive, Henry Whale said: “The equity in the holding company of the Rybrook business has been held for many years through a joint venture arrangement between the Whale family and Interamericana Trading Corp (ITC). ITC has recently agreed terms for the Whale family to acquire its 50% interest in the holding company. The transaction concluded on Friday, 29 October 2021.”

Rybrook became a PLC in 1994 under the chairmanship of Peter Whale. After nine years as a PLC, however, Mr Whale led a management buyout, returning it to private ownership.

 

Sytner Ferrari first in 15 years

Sytner is opening a new Ferrari retailer in Glasgow – its fifth Ferrari site and the first new Ferrari UK franchise in 15 years. Sales have already commenced as building work continues; the new site will officially open in Q1 2022.

https://bit.ly/3HmYQso

 

 

WORLD NEWS

Retailers on track for record profit

The average US retailer recorded pre-tax profit of $3m (£2.4m) in September – more than double the $1.3m (£1m) average in the first nine months of 2020. Operating profit has more than quintupled to $1.8m (£1.3m). Rising vehicle prices amid inventory shortages are driving the gains: average per-vehicle gross profit rose 65% for new and 36% for used.

https://bit.ly/3cbIRyW

 

Group 1 exits Brazil

Group 1 has sold its Brazil operations to Original Holdings for BRL510m (£69m). The transaction will complete by the end of Q2 2022. Group 1 has 17 Brazilian retailers, which retailed 8,131 new and used vehicles in 2020, accounting for 2.3% of its total revenues.

“Unfortunately, despite our best efforts, we were unable to attain critical mass or meaningful scale,” said president and CEO Earl Hesterberg.

https://bit.ly/3cc6Uh6

 

 

STOCKWATCH

Closing prices on 12 November 2021 and weekly change

Auto Trader up 16.1% after 121% rise in operating profits to £151m

Auto Trader Group 718.0p (+107.4p / +16.1%)

Caffyns 500.0p (n/c)

Cambria 82.5p (n/c)

Halfords 325.0p (+43.8p / +14.5%)

Inchcape 850.0p (-17.0p / -1.9%)

Lookers 60.5p (-4.5p / -7.1%)

Marshall Motor Holdings 268.0p (-19.0p / -6.8%)

Motorpoint 355.0p (+20.0p / +5.7%)

Pendragon 19.35p (+0.85p / +4.4%)

Vertu 61.4p (-0.8p / -1.2%)

 

 

COMING UP

Tuesday, UK unemployment

Wednesday, CPI, RPI

Friday, UK retail sales

Friday, GFK Consumer Confidence

 

 

MONEY MATTERS

Job vacancies hit all-time high

Nearly 2.7 million jobs are currently being advertised with more than 220k added in the first week of November alone. The Recruitment and Employment Confederation said the increase shows no signs of slowing in the build-up to Christmas.

https://bit.ly/3opf0c1

 

Halfords calls for government EV training funds

Halfords CEO Graham Stapleton wants government to help fund the recruitment and training of “thousands more” EV technicians. “We think the industry will need to add 6,000 to 7,000 people a year between now and 2030 to ensure there is a backbone of mechanics,” he said.

https://on.ft.com/3HhoazU