Auto Retail Agenda: 28 October 2019
27 October 2019
- BRITISH MOTOR SHOW RETURNS IN 2020
- RENAULT ADDS FUEL CHECK TO NETWORK SALES TRAINING
- HARWOODS FD TO RETIRE
- SUVS ‘SECOND BIGGEST CAUSE OF CO2 RISE’
- POLESTAR SPACE OPENS IN OSLO
- TESLA PROFIT SURPRISE
- STOCKWATCH – Pendragon up after Q3 results well received
- LAUNCH DIARY – Seat Mii Electric, BMW M340i xDrive
- COMING UP – UK consumer confidence
- MONEY MATTERS: BCA delist date revealed
- BLOG: CAFE ZERO? IT’S COMPLICATED
British Motor Show returns in 2020
The British Motor Show is making a comeback after 12 years. It will be held at the Farnborough International Expo Centre on August 20-23, 2020. The SMMT, which organised the last British Motor Show at London’s Excel, is not involved.
The show will run across five halls and 40,000 sq. m, with two dedicated to retailers, manufacturers and suppliers. Imperial Cars is title sponsor for a live action arena and there is a 2km test drive track. The target is at least 40,000 visitors over four days.
A presentation pack seen by Auto Retail Agenda shows exhibitor packages starting from £160 per sq. m. A fully fitted one-car stand with power, carpet and backlit branded wall is £5,000. Several sponsorship packages are available, although the headline sponsor is sold.
Automotion Events, the company behind the new show, says it has already worked for six months to secure the rights to the British Motor Show name. Chief executive Andy Entwistle told Auto Retail Agenda: “It’s really exciting times, but I just need to get the industry aware and behind us now.”
The press and trade launch will be held on 19 November. It is understood the London Motor Show, with which Entwistle was previously involved, is not running in 2020.
Renault adds fuel check to network sales training
Renault is adding a new element to its product training courses for sales executives to ensure they are checking customers are buying the correct fuel type for their needs.
The move comes as the French brand introduces hybrid and plug-in hybrids, alongside petrol and diesel, to the Clio and Captur respectively. Renault hopes the move will mean lower CO2 diesels remains part of the mix and help the company hit new European emissions targets from 2020, according to UK managing director Vincent Tourette.
The move comes after Vauxhall revealed it would be promoting diesel next year in order to help it meet the tough new regulations.
Mr Tourette, speaking exclusively to Auto Retail Agenda, added he was confident Renault would hit its CO2 target for 2020 and would not pay any fines.
Harwoods FD to retire
Long-serving Harwoods financial director Paul Suter is to retire in March 2020. Guy Rowson joined the company on 10th October as the highly regarded FD’s successor.
Rowson was FD and operations director at Colbornes before it was acquired by Lookers. He has also worked at Mercedes Benz Retail group and Group 1 Automotive. “I have absolute confidence he will bring great value to our business,” Archie Harwood told Auto Retail Agenda.
SUVs ‘second biggest cause of CO2 rise’
SUVs were the second-largest contributor to the increase in global CO2 between 2010-2018, reports the International Energy Agency – ahead of heavy industry, aviation and shopping. Its definition of an SUV is broad, ranging from crossovers to large 4x4s.
The growth of SUVs has offset efficiency gains by smaller cars and rising electric car sales. The IEA will now focus on this “under-appreciated area in the energy debate” in its upcoming World Energy Outlook report, due 13 November
Polestar Space opens in Oslo
All-electric performance Volvo division Polestar wants to ‘change the face of traditional automotive retail’ with the opening of its first Polestar Space outlet in Oslo, Norway.
Polestar Specialists act as brand ambassadors on a non-commission basis. The city centre outlet carries no held stock. “There is no hard sell, no requirement to shift stock and an entirely customer-focused journey,” said Polestar COO (and former Volvo UK MD) Jonathan Goodman.
Tesla profit surprise
Tesla shares soared as much as 20% on Thursday after it issued a surprise Q3 profit. It is now back above GM as the top US automaker for market capitalisation. It received a further boost when VW CEO Herbert Diess called it “a competitor we take very seriously” at the Mk8 Golf launch.
In September, the Tesla Model 3 almost entered the European top 10 rakings, with 17,505 registrations. It placed 11th overall, just a few hundred units behind the Renault Captur. Overall, Tesla controlled almost half the EU electric car market.
Closing prices on 25 October 2019 and weekly movement
Pendragon up after Q3 results well received by markets
Auto Trader Group 565.6p (+35.6p)
BCA 236.0p (-0.2p)
Cambria 57.0p (n/c)
Caffyns 400.0p (n/c)
Inchcape 663.5p (+12p)
Lookers 56.1p (+0.9p)
Marshall Motor Holdings 142.5p (+0.5p)
Motorpoint 236.5p (+0.5p)
Pendragon 13.04p (+1.64p)
Vertu 39.5p (+2.25p)
Seat Mii Electric, 161 miles’ range for £19,300 (after Plug-in Car Grant) or £199 a month on Seat PCP
Audi A6 55 TFSI e, plug-in hybrid with 32 miles’ electric range and 367hp, arrive in November
BMW M340i xDrive, saloon and Touring both offer 374hp and M Performance styling, arrive November
Tuesday, BoE consumer credit and mortgage approvals
Thursday, UK consumer confidence
7 November, Auto Retail Live Q4 briefing
BCA to delist on 6 November
BCA Marketplace has received approval by the EC and FCA to delist its shares on 6 November. The last day for dealings will be 5 November and the shares will be suspended from listings and dealings on 7.30am on 6 November.
BCA, which owns webuyaycar.com, is being acquired by private equity firm TDR Capital. The £1.9bn deal was agreed in June 2019, valuing the company’s shares at 243p. TDR has committed to invest and “develop its business as a private, unlisted company”.
Car tech challenges insurer
Car insurer Hastings warned it could miss forecasts due to increasing parts and labour costs. It previously predicted annual claims inflation of 5%; this grew to a range of 6% to 7% in H1 2019, and 7% to 8% in Q3. Increasingly high-tech vehicles are blamed for the increase.
BLOG – CAFE zero? It’s complicated