• ALFA TO HIT 34-STRONG NETWORK BY MID-25
• NEW ENTRANTS REPORT 2024 PUBLISHED THIS WEEK
• COMPLETELY MOTORING IN ADMINISTRATION
• NORWAY’S LARGEST IMPORTER RECONSIDERS ICE
• PREVIOUS LEAPMOTOR IMPORTER TAKES STELLANTIS TO COURT
• AUSTRALIAN MERCEDES DEALERS APPEAL AGENCY CASE
• STOCKWATCH
• COMING UP: Vertu half-year results
• WORKERS IN 30s SEE REAL TERMS WAGE DECLINE
• £1.4m NEEDED TO MATCH TOP CIVIL SERVICE PENSION

Alfa to hit 34-strong network by mid-25

Alfa Romeo, which has seen its network numbers fluctuate in recent years, is aiming to grow the number of retailers to 36 by mid-2025, according to UK managing director Jules Tilstone.

Tilstone said the brand currently had 24 retailers, with four more on the way in West London, Birmingham, Manchester and Swansea. Another six added in the first half of 2025. Alfa has 57 authorised repairers.

“Ultimately we’re looking for a 45-strong network,” said Tilstone who added that the initial plan took Alfa to the mid-30s.

Five years ago, the Italian brand had 49 retailers, according to Auto Market Data.

Speaking at the launch of the new Junior B-SUV, which will be offered as a BEV and as a hybrid, Tilstone said the network was currently profitable but “there is a big dispersion in the return on sales figures”.

He added that brand’s concierge initiative which funds 50% of the basic salary of a dedicated sales person was working well, with those retailers that are taking part being the best performers.

While Alfa Romeo doesn’t comment on sales forecasts, the new Junior B-SUV will take Alfa’s market coverage to 60% from 39%. An extra 21% would increase Alfa’s registrations to more than 2,000 units a year. The brand is on course for 1,600 this year.

Meanwhile, Tilstone said that Stellantis will be ZEV Mandate compliant this year and won’t need to borrow from future years.

 

New Entrants Report 2024 published this week

Retailers, OEMs and industry experts have given their views on the opportunity presented by new entrant brands in 2024. This week, the New Entrants Report 2024 will be published, offering invaluable insight and analysis for your business.

The report also features full profiles of the 15 most important new entrants to have on your radar right now.

Last week, an Auto Retail Live podcast previewed the report with guests Ian Plummer, commercial director of Auto Trader, Omoda Jaecoo’s Victor Zhang and VinFast’s Andrew Pilkington. Listen back on your podcast player of choice.

In other new entrant news, the Denza N9 flagship SUV has been spotted testing in London – ahead of its official launch in China.

* Order New Entrants Report 2024

 

Completely Motoring in administration

Family-owned Completely Motoring has fallen into administration after a poor summer sales period led to financial difficulties. In the year to March 2023, revenue increased from £50.3m to £78.4m, but profits before tax fell from £1m to £677k.

The retailer has 14 showrooms in 11 locations across Wales and the South West, including a Suzuki franchise. It was founded in 2009.

https://tinyurl.com/54bu23ty

 

 

 

WORLD NEWS

Norway’s largest importer reconsiders ICE

Norway’s largest auto importer, Harald A Moller AS has said it is considering reintroducing the sale of new petrol and diesel cars in 2025, following an easing of taxes for fossil few vehicles in the country’s latest budget.

MD Ulf Tore Hekneby said ICE vehicles had already been phased out and “it’s not something we want, but we can’t be the only player to sit back and just sell zero-emission cars”.

Last month, Norway hit the milestone of having more EVs that ICE cars on its roads. It also has a long-stated goal of all new passenger cars sold from 2025 must be zero-emission vehicles.

https://tinyurl.com/53fmb7t3

 

Previous Leapmotor importer takes Stellantis to court

Didier Sirgue, the head of SN Diffusion and EVE which previously distributed the Leapmotor T03 in France, wants to take Stellantis to court after his contract was terminated without notice in May. It was due to run until January 2025. Problems first began when Stellantis acquired 21% of Leapmotor in October 2023, amid plans to distribute the cars through its own network.

https://tinyurl.com/49sc9w8w

 

Australian Mercedes dealers appeal agency case

After losing a AUS$650 million lawsuit to Mercedes-Benz over a claimed loss of goodwill due to a switch to the agency model, 37 of the brand’s Australian retailers are appealing the decision.

The group of 38 retailers, out of a total network of 50, lost their original case a year ago. Now all but one of that group are appealing the case.

https://tinyurl.com/4ds5s52r

 

 

STOCKWATCH

Closing prices on 11 October 2024 and weekly change

Auto Trader Group 869.6p (+23.2p / +2.7%)

Caffyns 450.0p (n/c)

Halfords 148.2p (-1.0p / -0.6%)

Motorpoint 163.5p (+13.0p / +8.2%)

Pinewood 304.0p (-16.5p / -5.2%)

Vertu 58.1p (-0.9p / -1.5%)

 

 

COMING UP

Monday, Paris Motor Show

Tuesday, UK unemployment

Wednesday, Vertu half-year results

Thursday, Auto Trader Retailer Awards

 

 

MONEY MATTERS

Workers in 30s see real terms wage decline

Wages for 30- to 39-year-olds have declined in real terms over the past two decades. Their average gross annual earnings were just over £41k in 2004, when adjusted to today’s money. Last year, it had fallen to £36,400. Earnings for 18- to 21-year-olds and 22- to 29-year-olds have remained stagnant at £20k and £30k respectively.

The young voters who helped Labour win the election “now want the favour returned” with student debt relief, more to help them get on the property ladder, a boost for young entrepreneurs and other help.

https://tinyurl.com/bdh7mwfr

 

£1.4m needed to match top civil service pension

The Civil Service Pension Scheme is a defined benefit scheme to which they government pays in 29%. Figures last weekend revealed a civil servant who started at 21 on the average wage of £33,980 could expect a salary of £112k by 67, and a retirement income of £72k a year.

To get a defined contribution pension paying the same would require a pot worth £1.44m.

https://tinyurl.com/2s3ktvvk

 

ISSN 3049-5725