Auto Retail Agenda: 4 April 2022
02 April 2022
- ALL-STAR AUTO RETAIL EXPERTS TO DISCUSS FUTURE CHALLENGES
- VERTU HOLIDAY BOOST
- RON BROOKS WINS TOYOTA ICHIBAN AWARD – AGAIN
- LLOYD ACQUIRES RAYRIGG
- DACIA REVEALS NEW RETAILER IDENTITY
- NAPLETON AUTO PAYS $10m TO SETTLE FTC CASE
- NISSAN MIGHT CUT ARIYA EV RETAILER MARGINS
- HONDA US EXTENDS CERTIFIED USED CARS TO 10 YEARS
- STOCKWATCH
- COMING UP: SMMT March new car registrations
- ‘HORRIBLE’ FREEZE ON INCOME TAX THRESHOLDS
- DIESEL PRICES RISING FASTER THAN PETROL
All-star auto retail experts to discuss future challenges
Lookers CEO Mark Raban, Peter Vardy CEO Peter Vardy, Lookers COO Duncan McPhee, Auto Trader commercial director Ian Plummer, Ford of Britain and Ireland director Sarah Brettle, Toyota GB network development manger Paul Marshall and many other senior auto retail executives will discuss the significant challenges that lie ahead for our industry at the Auto Retail Performance Conference 2022 on Wednesday 25 May.
Held centrally at the Hilton Hotel Northampton, near to J15 of the M1, registration opens from 08.30. Auto Retail Network’s Mike Jones will chair the conference and lead the sessions, which start at 09.00 with a panel discussing critical issues including agency agreements.
Auto Retail Network publication subscribers can attend for a heavily-discounted price of £190 plus VAT.
- Book your place here: https://bit.ly/ARNPerformance
Vertu holiday boost
Vertu has boosted holiday provision for its 6,000 colleagues. The retailer, with immediate effect, now offers a minimum of 25 days plus statutory days, which rises to 29 days in line with service length. “Plenty of smiling faces this morning!” said CEO Robert Forrester after the change was announced.
Ron Brooks wins Toyota Ichiban award – again
Ron Brooks Toyota Ilkeston has won the Toyota Ichiban award for customer service for the second time. The retailer is 60 years old in 2022 – and has represented Toyota for 50 years.
Lloyd acquires Rayrigg
Dacia will reveal its new retailer identity today (Monday 4 April). Staples Corner London is the first to showcase the new khaki green branding, ahead of rolling out to all 148 of Dacia’s nationwide retailers. Brand manager Luke Broad says the new look is “eye-catching yet simple”.
- Read more on Dacia’s brand-building initiatives in this month’s Auto Retail Bulletin – take a free trial and subscribe here
WORLD NEWS
Napleton Auto pays $10m to settle FTC case
Napleton Automotive Group, one of the largest groups in the US, is paying a record $10m settlement for adding unknown fees to customers’ bills and for discrimination of black customers. The Federal Trade Commission said Napleton charged customers more than $70m since 2017.
The group said in a statement it “vehemently denied any wrongdoing” and “reluctantly” settled “to avoid the disruption of an ongoing dispute with the government”.
Nissan might cut Ariya EV retailer margins
Nissan is considering a 2.5% cut in retailer margins for the Ariya electric SUV when it goes in sale in the US this autumn. The 8.5% profit margin compares to the usual 11% margin on Nissan combustion engine vehicles in the US.
Honda US extends certified used cars to 10 years
Honda US is now selling certified pre-owned cars aged up to 10 years old – with no mileage restrictions. The aim is to draw younger and more budget-minded buyers to retailers. American Honda remarketing manager Dan Rodriquez called the initiative “kind of a gateway product”.
STOCKWATCH
Closing prices on 1 April 2022 and weekly change
Auto Trader Group 638.2p (-6.6p / -1.0%)
Caffyns 550.0p (n/c)
Halfords 259.2p (+1.0p / +0.3%)
Inchcape 678.0p (-13.5p / -1.9%)
Lookers 94.3p (-3.2p / -3.3%)
Marshall Motor Holdings 395.0p (-1.0p / -0.2%)
Motorpoint 285.0p (-3.5p / -1.2%)
Pendragon 28.0p (+0.6p / +2.1%)
Vertu 64.9p (+0.9p / +1.3%)
COMING UP
Tuesday, SMMT March new car registrations
Wednesday, Lookers full year results
Thursday, Halifax house price index
Thursday, FCA strategy and annual business plan
MONEY MATTERS
‘Horrible’ freeze on income tax thresholds
Income tax thresholds have been frozen until 2026, which Sarah Coles from Hargreaves Lansdown calls a “horrible stealth tax on our incomes”. It means more people will become higher-rate taxpayers as they get inflation-linked pay rises. It will earn the Treasury £19bn over four years.
Diesel prices rising faster than petrol
Diesel pump prices have risen 18% since the start of February, compared to 11% for unleaded. Russia supplies 18% of the world’s diesel and the Ukraine war has led to a shortage of the fuel across Europe, which experts predict may worsen in the coming months.
Tags:
Agency Agreements, Auto Retail Network, Auto Trader, Dacia, diesel, income tax, LLoyd, Lookers, Mark Raban, Napleton, Nissan, Peter Vardy, Rayrigg, Ron Brooks, SMMT, Toyota, Vertu 
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