Auto Retail Agenda: 14 August 2023
13 August 2023
- CUPRA BOSS SLAMS 2030 ‘DOGMA’
- SMART UPS NETWORK TARGET
- CLIVE SUTTON CLAIMS VICTORY IN LEGAL BATTLE
- EUROPCAR ADDS ORA FUNKY CAT TO DAILY RENTAL
- BYD ‘DECLARES WAR’ ON WESTERN OEMs
- FERRARI CHINA SELLS 1 IN 4 CARS TO WOMEN
- STOCKWATCH
- COMING UP: UK unemployment, CPI and retail sales
- UK ‘COMPLY OR EXPLAIN’ REGIME STIFLING BUSINESS
- UK BORROWING COSTS SURGE ON GDP SURPRISE
Cupra boss slams 2030 ‘dogma’
Cupra and Seat boss Wayne Griffiths has labelled the UK 2030 deadline banning new petrol and diesel sales “dogma” and says he doesn’t think “prohibition… [is] the right way to change societies or create transformation.
“You need to convince and motivate a lot more people to purchase electric cars before you start to prohibit combustion cars.”
The EU, in contrast, is targeting a 2035 ban, and is more open to technologies such as hydrogen and e-fuels, rather than the UK’s EV-only belief.
Manchester-born Griffiths also warned of “charging deserts” and called UK’s lack of a plan to provide sufficient EV charging stations acute. 2030 “is like tomorrow”, he said.
Despite this, Griffiths doesn’t necessarily believe the 2030 target should be pushed back. “I’m just saying that if you set that target, then make it real.” He wants the government to say what needs to be happening now in order for it to become a reality, rather than “leaving the target at 2030 so that somebody else will have to fix it”.
Smart ups network target
Smart is increasing its initial target of showrooms from 34 to more than 40 to improve geographic coverage.
Speaking exclusively to Auto Retail Agenda last week, UK Smart managing director David Browne said the network currently had 23 sites and was partnered with 17 groups. His original target of 34 locations will be hit by “mid next year” and “probably 40-plus by early 2025”.
The agency model brand will be located within Mercedes-Benz sites. Mercedes-Benz owns 50% of Smart, with Chinese manufacturer Geely.
Browne added that he expects to sell between 8,000-12,000 of the new Smart #1 in a full year, with volumes constrained by supply rather than demand.
* Read the full interview in the September issue of Auto Retail Bulletin: subscribe here
Clive Sutton claims victory in legal battle
Clive Sutton, supported by Carroll Shelby Licensing and Superformance, has defended a claim for trademark infringement brought by Acedes Holdings, which operates the AC Cars brand.
In May 2022, Acedes claimed Shelby Cobra cars were infringing its trademark for AC Cobra, and that Shelby Cobra cars were infringing its UK-registered designs. Acedes withdrew its claim in June 2023. The UK IPO also concluded the UK-registered designs of Acedes were invalid, with the designs to be revoked, enabling Clive Sutton to continue selling continuation and replica Shelby Cobra cars in the UK.
Last week, AC Cars grabbed headlines after claiming it was victorious in a counterclaim from Clive Sutton over its rights to the UK-registered AC Cobra trademark.
Europcar adds ORA Funky Cat to daily rental fleet
Europcar has added the GWM ORA Funky Cat to its daily rental fleet. The Chinese electric car will be available to hire from 108 locations. Commercial director Mark Newberry said 71% of motorists have not yet driven an EV.
WORLD NEWS
BYD ‘declares war’ on Western OEMs
BYD founder Wang Chuanfu last week encouraged Chinese car firms to “demolish the old legends and achieve new world-class brands” as he celebrated the firm delivering its five millionth EV. Former Aston Martin CEO Andy Palmer said OEMs in the EU and US face a “real and present danger” as Chuanfu said the “time has come for Chinese brands.
“It’s an emotional need for the 1.4 billion Chinese people to see a Chinese brand becoming global.”
Ferrari China sells 1-in-4 cars to women
Ferrari China has become the first country where the brand sells more than a quarter of new and used vehicles to women. Female buyers averaged 26% of Ferrari China sales over the past five years, which “far exceeds” the proportion in other countries.
STOCKWATCH
Closing prices on 11 August 2023 and weekly change
Auto Trader Group 622.6p (-5.0p / -0.7%)
Caffyns 540.0p (-40p / -7.1%)
Halfords 191.5p (-13.9p / -7.0%)
Inchcape 781.0p (-6.5p / -0.8%)
Lookers 128.6p (+0.4p / +0.1%)
Motorpoint 101.75p (+0.75p / +0.7%)
Pendragon 19.28p (+0.38p / +1.9%)
Vertu 71.0p (-1.0p / -1.3%)
COMING UP
Tuesday, UK unemployment
Wednesday, CPI and RPI
Friday, GFK consumer confidence
Friday, UK retail sales
MONEY MATTERS
UK ‘comply or explain’ regime stifling business
Two advisory groups have warned the FCA that British business competitiveness is begin damaged by rules demanding companies report gender diversity and net zero targets. The ‘comply or explain’ regime has become ‘comply or else’.
“No wonder the UK market gets so few new listings,” said Vertu CEO Robert Forrester on X, formerly known as Twitter, in response to the report. “What is the purpose of a capitalist company?”
UK borrowing costs surge on GDP surprise
UK borrowing costs surged to mini-Budget levels after better-than-expected GDP figures raised expectations that the Bank of England will keep interest rates higher for longer. The FTSE 100 fell as much as 1.45% as data showed the economy expanded by 0.2%, faster than the zero growth predicted by economists.
Tags:
2030, BYD, Clive Sutton, Cupra, Europcar, EVs, Ferrari, GDP, GWM Ora, regulation, Robert Forrester, Seat, SMART 
Why Subscribe?
As an auto retail executive you need insightful and unique industry intelligence to boost your business potential. Here’s a taste of what Auto Retail Network has to offer:
- Get informed and boost your business potential
- More than 1,200 fellow executives have joined us since launch
- Independent, carefully crafted, unique content relevant to you and your business
- Develop a greater awareness of market trends and opportunities
- Access to a wide range of materials whenever, wherever and however you want it
- Significant discounts on ARN events, reports and other publications
