AM – Automotive Management magazine – July 2016

www.am-online.com July 2016 £8.00

MCL AREN 570GT / P78

Will it help McLaren to sell 4,000 supercars a year?

AUTOMOTIVE MANAGEMENT 2017 Six car brands now offer online ordering to consumers

2018 2019

2020 e

Premium brands have stores in 25 shopping centres

Electric or hybrid powertrains available in all mainstream car ranges

2022 Recession speeds a 17% reduction in UK franchised networks

>

Virtual reality equipment is standard in premium brand franchises

2023

X

14 UK cities have banned diesel cars from their roads

MOTOR RETAIL IN

2025

2024

One in five new cars sold can function autonomously

Shrinking networks, soaring property costs and virtual showrooms – we offer dealers a vision of their future PA G E S 2 7- 47

ACQUISITION / P7

SUZUKI / P22

VIDEO / P72

Marshall’s takeover of Ridgeway will require careful integration

There’s more to success than just numbers, says sales director Dale Wyatt

How video can build trust with your customers

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Franchised dealers need to find a retail model fit for tomorrow’s world f you have ever said to your teams the phrase “If you’re standing still, you’re also going backwards” then you should understand what the ‘Motor Retail in 2025’ theme of this issue of AM stands for. Business, consumer habits and certainly technology do not stay the same for long, and it is foolish to put all your focus on today, because all too quickly it will become yesterday.

In 1885, Carl Benz completed the world’s first car, the Benz Patent Motor Car. By 1910, Ford Motor Company was producing the world’s first mass production car, the Model T, in 93 minutes, making motorised transport affordable for the world’s middle classes. That same year, Henry Ford met UK entrepreneurs involved in bicycle sales and repair, and horse and carriage hire, and encouraged them to adapt to the new mobility revolution.

Today, the car brands you represent will already have their nextgeneration models hidden away in a design studio somewhere, likely accompanied by top-secret sketches and scale clay models of the cars to come even after that. Their research and development (R&D) programmes force them to predict what the consumer may want six, seven or more years ahead.

But what about the retail side of the automotive industry? The industry observers to whom AM has spoken agree that important changes to motor retail are just two five-year business plans away. Even more dramatic change could be coming another 10 years after that.

Technology is empowering consumers with greater choice, and automotive managers must adapt and cater for that choice.

So are you ready?

I

am-online.com/ami/

IN THIS ISSUE

“There’s no other retail model in existence which can survive on such limited footfall” Paul Gordon, Autotorq – P34

“As a result of changing technology and the drive for manufacturer brand equity, there are likely to be fewer, but larger dealerships” Jim Saker – P39

“The ‘pay to drive’ rather than ‘pay to purchase’ ownership model is achieving dominance” Philip Nothard – P47

Tim Rose Editor

am-online.com July 2016 3

In this issue July 2016 DEALERS AND SUPPLIERS IN THIS ISSUE: ASE ......................................................................17, 28 Auto Trader.......................................................11, 36 Automotive Property Consultancy.................34

27

MOTOR RETAIL IN 2025 AM TAKES A LOOK AT WHAT’S COMING DOWN THE ROAD IN AUTOMOTIVE RETAIL

AutosOnShow.........................................................72 Autotorq .....................................................28, 34, 36 BCA.............................................................................19 Black Horse.............................................................17 Bluesky Interactive .......................................37, 72 BMW.............................................................................8 Cambria Automobiles.........................................75 Carwow.......................................................................8 CDK Global..............................................................36 CitNow ......................................................................72 Close Brothers Motor Finance .........................17 FCA ...............................................................................8 FLA ............................................................................ 15 Frost & Sullivan ....................................................34 Hendy Group ..........................................................10 Honda........................................................................81 ICDP....................................................................28, 36 J Edgar & Sons.........................................................8 Jaguar Land Rover ..............................................10 Jardine Motors Group.....................................8, 75 JCT600.......................................................................11 Lifestyle Europe....................................................10 Lookers ....................................................................10 Manheim...................................................................19 Marshall Motor Holdings......................................7 Mazda........................................................................82 McLaren Automotive...........................................78 MTBN........................................................................28 NFDA..........................................................................17 Peter Vardy.............................................................10 Rapleys.....................................................................34 Redspy......................................................................28 Ridgeway Garages ..................................................7 Robert Stephens & Co........................................34 Ron Brooks................................................................8 SMMT..................................................................13, 16 Suzuki .......................................................................22 Toyota...........................................................................8 TrustFord.................................................................10 Vertu Motors ..........................................................10 Visualise...................................................................38 Volkswagen .............................................................13 Volvo ...................................................................10, 38

4 July 2016 am-online.com

34 PROPERTY: WHAT’S NEXT FOR THE BRICKSAND-MORTAR DEALERSHIP?

For the latest motor retail industry news, visit am-online.com Sign up to get AM news daily by email: am-online.com/newsletter

YOUR NEWS 7 News insight

Marshall Motor Holdings will tread “slowly and carefully” to integrate Ridgeway Garages, following its £106.9 million takeover.

8 News digest

Carwow takes action against BMW over dealer listing ban; JCT600 posts 12% sales increase in its 70th year; Franchised dealers ‘charge 65% more for parts than the independent sector’.

36 Showroom technology

Self-service, virtual reality and smooth digital-to-physical transitions loom large in the showroom of the future.

39 Prof Jim Saker’s view from the business school Over the next decade, carmaker power will grow and independents will suffer, predicts Jim Saker.

47 ‘iPhonification’ and the motor trade Philip Nothard looks at the future impact of data and digital devices.

AM BEST PRACTICE NEW AND USED CARS

MARKET INTELLIGENCE 15 Asians grow market share

Despite slowdown by Mitsubishi and Nissan, Japanese and Korean brands gain ground over European rivals.

22

SUZUKI ‘MARKET SHARE IS NOT THE BE ALL AND END ALL’

16 New car registrations

72 Video

16 Finance offers

SHOWROOM

Fleet props up rise in monthly figures as retail registrations fall for second month running.

Volkswagen offers heavy discounts on Q1 finance offers to offset postdieselgate registrations decline.

19 Used cars

Manheim’s average selling price for ex-fleet vehicles dropped for the fourth straight month in May.

INSIGHT MCLAREN 570GT A SUPERCAR FOR DRIVING EVERY DAY

78

22 Suzuki

Suzuki GB sales and marketing director Dale Wyatt is looking beyond the numbers for his brand’s growth.

27 Motor retail in 2025

What will franchised dealer networks look like in the middle of the next decade?

34 Property speculation

Digital consumer habits and soaring prices will change how automotive retailers view dealership property.

Video can boost service work, profits and engagement, but experts say its key benefit is the trust it generates.

78 McLaren 570GT

The £154,000 super coupé is central to McLaren’s plan to triple sales.

81 Honda HR-V

Honda has made a series of films to showcase the features of the HR-V.

82 Mazda2

Despite hiccups with its online offers, Mazda2 registrations are soaring.

COMING SOON 86 In August’s issue – published July 22 Steven Eagell tells how a trio of acquisitions puts his dealer group in a stronger position for growth; how to ensure suppliers live up to your expectations; reports from the AM/IMI People Conference; and the Suzuki Baleno reviewed. am-online.com July 2016 5

NEWS INSIGHT

SEND US YOUR NEWS: newsdesk@am.co.uk

Marshall will ‘tread carefully’ with Ridgeway integration Geography and brand variety may bring post-acquisition management challenges

By Tim Rose

M

arshall Motor Holdings has a delicate integration task on its hands after its acquisition of Ridgeway Garages.

Yet there is no reason to rush. Industry executives regard Ridgeway as a strong-performing business with a respected workforce. One management source said Marshall is aware how highly Ridgeway’s staff regarded their energetic and charismatic leaders, chief executive John O’Hanlon and chairman David Newman, who stepped down after the sale.

The source said Marshall would tread “slowly and carefully”.

Marshall has only recently integrated SG Smith, bought last November.

At a cost of £106.9 million, the Ridgeway takeover is the highest cost deal since 2010. There are clear geographical and brand considerations behind it. Ridgeway bridges the gap from Marshall’s heartland in East Anglia and East Midlands to its outlying dealerships in the West Country.

AM understands Ridgeway chairman David Newman was approached informally by another prospective buyer, which led Marshall to prepare its own bid. Marshall chief executive Daksh Gupta knows the Newbury-based premium brand dealer group well. He was briefly its managing director in 2008, before joining Marshall. After that, Gupta retained a non-executive role on Ridgeway’s board.

He stepped down from that role before beginning negotiations to buy Ridgeway.

Gupta said: “David Newman and his team have built an excellent business with fantastic senior management, great staff, strong performance and a similar culture to MMH.” It is believed to be the fourth-biggest acquisition ever, behind the £504.2m paid by Pendragon to take over top 10 AM100 rival Reg Vardy in 2006, Inchcape’s £262.9m purchase of European Motor Holdings in 2007, and the £231.5m paid by Pendragon for CD Bramall in 2004.

Marshall funded the Ridgeway deal from its existing balance sheet capabilities, through releases of equity in stock and its leasing book, and expects it to create a significant uplift in profits.

The expected benefits include the additional choice that Marshall can offer customers, and increased career development opportunities for staff.

“Lots of what Ridgeway does is first-class, such as its social media presence. We will take what each party does best and roll them out across the new expanded business,” Gupta added.

The Ridgeway name will be retained until Marshall branding is introduced to the acquired sites in 2017/2018.

Marshall chief financial officer Mark Raban said: “This is massively significant in its earnings-per-share potential since we’re adding a business that, from a profitability perspective, is not that far off Marshalls. Last year, we made £23m EBITDA, Ridgeway just over £20m. So, it is almost doubling our earnings.

It is transformational in terms of shareholder benefit.”

The positive outlook on performance, he said, was based on Ridgeway as a respected brand, in “great” locations, with more than 2% return on sales.

An industry analyst told AM that Marshall can now claim almost

MMH PRE-ACQUISITION

“We will take what each party does best and roll them out across the new expanded business” Daksh Gupta, Marshall

R I D G E WAY S I T E S A D D E D

national coverage, which brings with it the challenges of complexity and maintaining effective management across a wide variety of brands and geography.

He added: “Over the past few years, there has been a slow, but steady, improvement in profitability, albeit from a low base.”

For four years out of the past 10, Marshall has had a return on sales (RoS) figure of near 0%. However, from breakeven in 2011, profits have climbed steadily to an RoS figure of 1.2% in 2015, despite its acquisitions being either neutral – Crystal Motor Group made an RoS of 1.3% in 2013, or challenging – Silver Street lost money prior to acquisition.

The analyst said: “Ridgeway, by contrast, has occasionally turned in an RoS at or above the fabled 2%. For the last three years, RoS has been around 1.5%, better than Marshall.

“In terms of franchise fit and geography, profitability and management resource, Ridgeway will undoubtedly be good for Marshall. Whether Marshall will be good for Ridgeway depends on the new combined management coping with the increase in complexity and developing the synergies that are available.”

Marshall has already announced new roles for some Ridgeway executives: operations director John Head becomes commercial director, and finance director Dan Taylor keeps the same role at Marshall, reporting to Raban.

Taking into account the amount of capital on its balance sheet, following its IPO, Marshall’s return on capital employed was just under 10%. In 2017, Raban said it will be more than 20%.

R I D G E WAY ■ 2015 financials: £722.6m turnover, £20.2m EBITDA, 2.1% RoS ■ Franchises: Audi (2), BMW/Mini (3), Jaguar (1), Land Rover (1), Maserati (1), Mercedes-Benz Cars (4), Mercedes-Benz Commercials (4), Škoda (3), Smart (3), Volkswagen Passenger Cars (4) and Volkswagen Commercial Vehicles (2).

■ Other businesses: Ridgeway Select used car centres (5), TPS trade parts depots (2), bodyshops (2), standalone PDI centre.

■ Founded in 1997 by David Newman with a single Volkswagen outlet on the carmaker’s sponsored retailer programme.

am-online.com July 2016 7

NEWS DIGEST

T H E N E W S YO U C A N ’ T A F F O R D T O H AV E M I S SE D

11

F O R D A I L Y N E W S , V I S I T: am-online.com SEND US YOUR NEWS: newsdesk@am.co.uk

JCT600 JCT600 celebrated doubledigit growth in turnover for its 70th year in business, as sales rose 12% to £1.145bn.

13

Parts prices Franchised dealers charge 65% more for parts than the independent sector, a report into the UK aftermarket shows.

FOLLOW AM ON TWITTER: @amchatter

CARWOW

IN BRIEF

Carwow takes action against BMW over dealer listing ban

T O Y O TA Toyota is considering legal action against the Vote Leave campaign after it used a Toyota logo on an EU Referendum flyer. Toyota said the flyer “could mislead the reader into thinking Toyota endorses the Vote Leave campaign” and added: “We offer no such endorsement and further we are considering a formal legal complaint.”

FCA The Financial Conduct Authority (FCA) has announced that a full representative example and APR is no longer needed in an advertisement where there are no credit charges and the APR is 0%. The new rule applies to all 0% finance offers.

Carwow has appointed legal representatives in an attempt to lift a BMW UK ban on its franchised dealers using the online marketplace’s services.

Carwow chief executive James Hind said it had called in “specialists in competition law” as a last resort after talks with the manufacturer collapsed, leaving its retailers without the option of using the online platform.

The German brand has already been reported to the Competition and Markets Authority as part of the action.

Hind said: “Over some time, we have had talks with BMW retailers about their use of Carwow and it is an apparent source of frustration that BMW will not

allow them to use our service.

“Due to BMW’s stance they simply cannot, and it is them, and the customer, that is losing out.”

Asked whether BMW’s stance may be an effort to promote its own online marketing strategy – the brand will trial a used cars version of its AM Awardwinning BMW Online Retail offering later this year – Hind said: “That could be the case.”

Hind said representatives from Carwow had held talks with officials from BMW UK, but he said they were “unwilling to move”.

A spokesman for BMW UK told AM the brand was aware of the legal situation.

“Carwow does not have any substance in European law in making their claim,” the spokesman said.

JARDINE Jardine Motors Group has acquired the bulk of Colliers Motor Group as part of a deal said to be driven by Land Rover’s “drive for a common ownership model”.

8 July 2016 am-online.com

The purchase of Colliers’ single Land Rover, Honda and Mazda dealerships in Erdington as well as its Jaguar Tamworth site, means Jardine’s portfolio includes five Land Rover, six Jaguar, four Honda and its first Mazda franchise. Colliers will retain its one Nissan site.

Neil Williamson, Jardine Motors Group chief executive, said: “This new business will help drive forward our ambitious growth plans for 2016.”

Work has already started on a multi-million-pound development for Land Rover in Wolverhampton and the group is on a recruitment drive in the Midlands, creating more than 70 jobs across all levels and departments.

Jardine then did a sale and leaseback deal with Knight Frank for the former Colliers properties and rased £17 million.

It is the first new-generation Land Rover facility to be traded in the investment market.

RON BROOKS Ron Brooks Group has opened a new eight-car Mansfield Suzuki showroom following seven months of building. The dealership, on Oak Tree Lane, continued trading from temporary accommodation at the site during construction.

J EDGAR & SON Nissan dealer J Edgar & Son has completed the extension and refurbishment of its showroom at Rowrah, Cumbria, adding 80 square metres of space, to take the facility to a total of 450 sq m.

‘C H AV C H A R I O T ’ A car dealer listed a BMW as a ‘rusty chav chariot’ in an online ad. Richard Harris, sales manager at Classic Cars of Wirral, was so shocked at the condition of the 1998 BMW 318, he wrote: “If in doubt, please presume all parts of the car are either broken, rusty, or covered in some kind of dubious residue.”

It attracted more than 30 bids.

NEWS DIGEST wP E O P L E N E W S

VERTU

Hendy Automotive Group has acquired Lifestyle Motor Group, which should see the newly formed Hendy Automotive Limited achieve a turnover of £600 million, placing it in the top 25 of the AM100.

C A M E R O N WA D E Former Peter Vardy commercial director Cameron Wade has been appointed as managing director of the AM100 group’s motor division.

ANDREW STEPHENSON Lookers has appointed Andrew Stephenson as group human resources and customer director.

PA U L L O W D O N Paul Lowdon has officially taken up his new post as general manager of Vertu Group Fleet following the retirement of David Jewell last in April.

Jewell retired after nine years of service and 48 years in the motor industry.

HENDY AUTO

Vertu Motors has bought the five-site Gordon Lamb Group and gained its first Toyota dealership.

The £18.7 million takeover of the family-run group also adds Vertu’s sixth Land Rover dealership, plus the Toyota site and additional Nissan and Škoda businesses, all in Chesterfield, and a Škoda outlet in Derby.

Gordon Lamb has traded in Derbyshire for more than 60 years, and recorded £85.8m turnover in 2015. Vertu said the acquisition progresses its strategic goal of growing its range of franchises.

The transaction includes goodwill of £8.3m and freehold properties valued at £7.5m.

Robert Forrester, Vertu Motors chief executive, said: “Gordon Lamb is a much respected and well established business operating in Derbyshire, a core territory of ours. It is a business we have long admired and I am delighted to welcome them to the Vertu group. I see a very clear cultural, strategic and business fit.”

Vertu said the new additions will be earnings-enhancing – in 2015 Gordon Lamb achieved adjusted EBITDA of £2.9m and adjusted PBT of £2.7m.

The Lifestyle Motor Group, formed in 2001, operates Ford, Mazda, Kia, Renault, Dacia, Seat, Suzuki and Isuzu franchises in the South East.

Lifestyle Europe chairman Marc Matthew said: “We have built up a strong, profitable and successful business in Kent, Sussex and Surrey and believe this growth will continue with Hendy’s.”

Hendy recorded a turnover of £357m in 2015 and Lifestyle £187m. The new company has 12 motor franchises at 25 locations in Surrey, Sussex, Kent, Hampshire, and Devon.

The group employs about 1,000 staff and is expected to sell more than 40,000 vehicles a year from its dealerships and two used car stores.

JON HEAD Marshall appointed Jon Head as commercial director following its £106.9 million acquisition of Ridgeway. Head, formerly Ridgeway’s operations director, assumes responsibility for aftersales development, F&I, CRM, marketing and purchasing.

J O N WA K E F I E L D Volvo Car UK has appointed Jon Wakefield as its acting managing director. Wakefield succeeds Nick Connor, who will become chief executive of Polestar on July 1.

PAULINE A NN BE ST Former Specsavers and Vodafone director Pauline Ann Best has joined the board of Vertu Motors. Best joined on June 1 as a non-executive director, and will sit as a member of Vertu’s nominations committee and remuneration committee.

10 July 2016 am-online.com

TRUSTFORD TrustFord has brought together its two former operations in Epsom in a £4 million new FordStore in the town.

The new site is on the Longmead Industrial Estate and replaces the previous TrustFord Epsom dealerships at Kiln Lane and East Street.

A dedicated Transit Centre is included within the facility, which carries the complete range of 22 Ford vehicles – both car and commercial. It also features a further 100 display spaces for used vehicles.

The FordStore features an 18-vehicle showroom, interactive displays, colour walls and a customer seating zone with free Wi-Fi and USB connectivity.

Supported by a team of 50 specialists, the 17-bay workshop has extended opening hours, from 7am to 7pm, designed to allow customers to drop off and collect their vehicles before and after work.

JLR Jaguar Land Rover said it has “delivered everything it said it would deliver” to its retail network after achieving an 84% rise in fleet sales during Q1.

Jaguar’s fleet sales grew by 194% and Land Rover’s by 53% compared with the same period in 2015 as the brands benefited from new models such as the XE saloon and F-Pace SUV and the popularity of its sub100g/km CO2 2.0-litre Ingenium turbodiesel engine.

JLR managing director Jeremy Hicks told AM the growth was the result of a retail plan that put greater emphasis on 50 UK-wide fleet specialists to grow sales.

“We sat down three years ago and developed our growth plan. It was set in stone. That drove the requirement for 50 fleet specialists.

“It’s not about saying ‘I can sell them’, it’s about an ability to store, repair and deliver them.

“I can stand in front of the retailers now and say everything we said we’d deliver we have delivered.”

Land Rover’s Q1 retail registrations grew 10.8% year-on-year; with Jaguar rising 17.4%.

MARKET INTELLIGENCE 16

New cars

Fleet props up rise in monthly figures as retail registrations fall for second month running.

16

THE NEWS IN DEPTH

17

Finance

Volkswagen offers heavy discounts on Q1 finance offers to offset postdieselgate registrations decline.

Dealer profits

Sponsored by

Average dealer made £9,000 profit in April, up from £6,000 a year earlier.

Asian brands slowly eating share from European rivals Nissan and Mitsubishi hinder Japanese brands’ growth as Koreans gain ground

T

he brands from the Far East are slowly eating into the share of the UK new car market that was traditionally held by mainstream European carmakers.

The nine Japanese and three South Korean carmakers operating in the UK have taken a combined 23.5% share of the UK’s new car registrations so far in 2016. That is a 2.6ppt gain over the past five years – for the first five months of 2011, their combined share was 20.9%.

However, SMMT data shows that declines by Nissan and Mitsubishi this year, after record performances in 2015, seem to be threatening the Japanese brands’ trend of growth.

This is despite Honda and Suzuki increasing sales thanks to better product supply, marketing activity and stronger finance offers.

At the end of May, the Japanese brands held a 16.6% year-to-date share, their second-highest this decade, but down 0.2ppts on the same period in 2015. The star performers in the Japanese camp so far this year are Honda and Mazda, although both are still clawing their way back to the level they enjoyed at the turn of the decade.

The Korean brands, however, are

A S I A N B R A N D S ’ M A R K E T S H A R E (%) – Y E A R T O M AY 31 JAPANESE

2016

2015

2014

2013

2012

2011

Honda

2.34

2.08

2.37

2.61

2.51

2.68

2010 3.13

Infiniti

0.09

0.05

0.02

0.02

0.03

0.02

0.00

Lexus

0.52

0.51

0.43

0.36

0.45

0.42

0.33

Mazda

1.92

1.79

1.62

1.39

1.49

1.67

2.28

Mitsubishi

0.80

0.99

0.45

0.49

0.36

0.61

0.49

Nissan

5.56

6.05

5.42

5.38

4.97

4.71

3.85 0.20

Subaru

0.13

0.13

0.10

0.10

0.13

0.17

Suzuki

1.42

1.30

1.55

1.48

1.22

1.05

1.08

Toyota

3.83

3.94

3.99

4.10

4.40

3.86

4.47

KOREANS

2016

2015

2014

2013

2012

2011

2010

Hyundai

3.42

3.44

3.36

3.37

3.20

3.10

3.79

Kia

3.26

3.09

3.17

3.21

3.17

2.62

3.29

SsangYong

0.17

0.09

0.06

0.03

0.04

0.00

0.02

slowly gaining ground again.

Together, Hyundai, Kia and SsangYong account for a 6.8% slice of 2016’s new car market to date, with 0.2ppts of growth after three years flatlining around the 6.6% mark.

Among the South Korean brands, Hyundai’s performance is flat, although the activity it is undertaking as a sponsor of the Euro 2016 tournament may restart growth in the months ahead. Nevertheless, Kia is in growth thanks largely to the new Sportage, and niche 4x4

specialist SsangYong has doubled its share now its award-winning Tivoli small crossover is in the market.

The march of the Asian brands is likely to continue. Toyota and Kia both have B-segment SUVs – badged C-HR and Niro respectively – waiting in the wings and ready to compete in a growing market segment. Toyota also has an MPV version of the Proace on the way, Hyundai has a hybrid Ioniq, and in 2017 Honda launches a new Civic while Nissan will revise its segmentleading Qashqai.

Source: FLA

A P R I L M O T O R F I N A N C E M A R K E T: N E W C A R S New cars bought on finance by consumers through dealerships Apr 2016 Change on 3 months previous year to Apr 2016 Value of advances (£m) 1,456 +17% 5,460 Number of cars 85,436 +12% 321,189 New cars bought on finance by businesses through dealerships Number of cars 51,182 -3% 140,755

Change on previous year +18% +12%

12 months to Apr 2016 17,215 1,026,978

Change on previous year +18% +12%

+4%

513,931

+3%

F I N A N C E S TAT S Showroom finance for new cars rose 12% in April, according to the Finance & Leasing Association (FLA).

By value, the finance provided was 17% ahead of April 2015.

Penetration continues to rise, fuelled by PCP and PCH offers. The percentage of private new car sales financed by FLA members through the point of sale (POS) reached 83.6% in the 12 months to April, up from 82.7% in the 12 months to March.

The POS consumer used car finance market also reported further new business growth in April of 9% by value and 8% by volume.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “Growth in new business volumes reported by the POS consumer car finance market was relatively steady in April and in line with the industry’s expectations of achieving solid single-digit growth in 2016 as a whole.”

am-online.com July 2016 15

MARKET INTELLIGENCE R I SER S & FA L L ER S

10

TOP SsangYong Infiniti Abarth Jaguar Smart Jeep Bentley Land Rover Mercedes-Benz Honda

99.80% 97.23% 83.87% 78.01% 74.45% 38.12% 32.36% 18.54% 18.28% 17.40%

Growth appears to be slowing. Last month, there were still two brands with more than 100% year-on-year growth: Infiniti and SsangYong. This month there are none.

With its new XE, XF and now F-Pace in showrooms, Jaguar’s registrations are 5,993 units ahead year-on-year and it is gaining market share fast. A strong May has also pushed its sister brand Land Rover into the top 10 – the SUV specialist is 5,770 registrations ahead.

Between them, volume brands Volkswagen, Vauxhall, Peugeot and Nissan have lost 15,252 sales so far this year.

10

BOTTOM Peugeot Dacia Nissan Vauxhall Aston Martin Volkswagen Seat Lotus Maserati Mitsubishi

-2.81% -3.42% -4.22% -4.49% -5.21% -6.25% -8.48% -14.38% -14.73% -15.94%

10-year market trends available: www.am-online.com/ami

N E W C A R R E G I S T R AT I O N S Marque

May 2016

Ford Vauxhall Volkswagen BMW Audi Mercedes-Benz Nissan Peugeot Hyundai Toyota Kia Land Rover Renault Škoda Citroën* Mini Fiat Honda Seat Volvo Mazda Suzuki Jaguar Dacia DS* Mitsubishi Jeep Porsche Smart Lexus Alfa Romeo SsangYong MG Abarth Subaru Infiniti Maserati Bentley Aston Martin Lotus Other British Other Imports Total

23,740 16,300 16,050 15,423 13,970 13,721 10,925 8,208 7,232 7,144 6,912 6,290 6,259 6,159 5,783 5,073 4,327 4,243 3,499 2,973 2,862 2,738 2,590 2,137 1,478 1,310 1,078 1,023 1,001 874 337 310 296 282 246 137 129 120 67 20 98 221 203,585

% market share

2015

% market share

% change

Year-to-date 2016 % market share

2015

11.66 8.01 7.88 7.58 6.86 6.74 5.37 4.03 3.55 3.51 3.40 3.09 3.07 3.03 2.84 2.49 2.13 2.08 1.72 1.46 1.41 1.34 1.27 1.05 0.73 0.64 0.53 0.50 0.49 0.43 0.17 0.15 0.15 0.14 0.12 0.07 0.06 0.06 0.03 0.01 0.05 0.11

24,273 20,698 17,316 12,206 13,802 11,355 11,561 6,922 7,045 7,300 6,133 4,966 5,453 5,914 6,301 5,239 4,370 3,624 4,595 3,192 2,718 2,589 1,579 2,046 26 1,608 1,109 1,136 705 959 447 189 269 181 249 98 122 74 68 18 62 184 198,706

12.22 10.42 8.71 6.14 6.95 5.71 5.82 3.48 3.55 3.67 3.09 2.50 2.74 2.98 3.17 2.64 2.20 1.82 2.31 1.61 1.37 1.30 0.79 1.03 0.01 0.81 0.56 0.57 0.35 0.48 0.22 0.10 0.14 0.09 0.13 0.05 0.06 0.04 0.03 0.01 0.03 0.09

-2.20 -21.25 -7.31 26.36 1.22 20.84 -5.50 18.58 2.65 -2.14 12.70 26.66 14.78 4.14 -8.22 -3.17 -0.98 17.08 -23.85 -6.86 5.30 5.76 64.03 4.45 5,584.62 -18.53 -2.80 -9.95 41.99 -8.86 -24.61 64.02 10.04 55.80 -1.20 39.80 5.74 62.16 -1.47 11.11 58.06 20.11 2.46

140,948 12.10 107,369 9.22 90,370 7.76 72,898 6.26 75,018 6.44 73,037 6.27 64,797 5.56 46,003 3.95 39,783 3.42 44,576 3.83 37,940 3.26 36,890 3.17 35,414 3.04 33,198 2.85 31,776 2.73 25,245 2.17 26,882 2.31 27,305 2.34 20,389 1.75 17,805 1.53 22,367 1.92 16,586 1.42 13,675 1.17 11,488 0.99 7,664 0.66 9,287 0.80 6,127 0.53 5,710 0.49 4,738 0.41 6,046 0.52 2,290 0.20 1,950 0.17 1,560 0.13 1,596 0.14 1,503 0.13 996 0.09 550 0.05 773 0.07 382 0.03 131 0.01 347 0.03 1,458 0.13 1,164,870

144,095 12.88 112,412 10.05 96,394 8.61 63,121 5.64 71,985 6.43 61,748 5.52 67,652 6.05 47,333 4.23 38,539 3.44 44,144 3.94 34,541 3.09 31,120 2.78 30,186 2.70 31,333 2.80 38,017 3.40 24,138 2.16 26,114 2.33 23,259 2.08 22,278 1.99 16,839 1.50 20,062 1.79 14,598 1.30 7,682 0.69 11,895 1.06 26 0.00 11,048 0.99 4,436 0.40 5,188 0.46 2,716 0.24 5,689 0.51 2,184 0.20 976 0.09 1,436 0.13 868 0.08 1,422 0.13 505 0.05 645 0.06 584 0.05 403 0.04 153 0.01 323 0.03 872 0.08 1,119,072

% market share

*Citroën’s monthly registrations included DS until May 2015. As the Citroën result for May 2015 is for both brands, please combine the Citroën and DS registrations for May 2016 when comparing year-on-year.

18 July 2016 am-online.com

% change -2.18 -4.49 -6.25 15.49 4.21 18.28 -4.22 -2.81 3.23 0.98 9.84 18.54 17.32 5.95 -16.42 4.59 2.94 17.40 -8.48 5.74 11.49 13.62 78.01 -3.42 29,376.92

-15.94 38.12 10.06 74.45 6.28 4.85 99.80 8.64 83.87 5.70 97.23 -14.73 32.36 -5.21 -14.38 7.43 67.20 4.09

Sponsored by

Fleet/leasing May 2015 May 2016

39.90

39.14

Rio Olympics. History tells us these events have notable if short-term effects on the retail sector, and this year will probably be no different.”

There is a mixed picture of the UK’s wholesale car markets left by the data of the two major auction groups, BCA and Manheim, with the latter indicating a steep decline in ex-fleet car values.

45,732 43,637 £9,719 £9,906 Part-exchange May 2015

+2.3%

Average regular pay, excluding bonuses, was £470 a week before tax and other deductions between February and April, up 2.3% on a year earlier. Average total pay, including bonuses, was £503 per week, up 2% on a year earlier.

May 2016

88.74

89.25 69,744 69,365 £4,397 £4,490 Nearly new

UNEMPLOYMENT

➡

-0.1PPTS

The unemployment rate was 5%, the lowest since August to October 2005, 0.1ppts down on January to March.

May 2016

“The market is now moving into a period when demand eases”

MORTGAGES

8.37 8,563 £20,494 Average age (months) Average mileage Average value

Simon Henstock, BCA

Source: BCA

Manheim Fleet £ Manheim Part Ex £

U S E D C A R VA L U E T R E N D S (£ )

BCA Fleet £ BCA Part Ex £

➡

Ex-fleet stock The average selling price of ex-fleet vehicles dropped for the fourth consecutive month at Manheim’s auctions. The May average was £9,183, a £470, or 4.9%, fall since April. The average value was £1,325, or 12.6%, down year-on-year.

BCA’s average ex-fleet car value rose £7, or 0.1%, in May to £9,906. The total was 2%, or £187, ahead year-on-year, helped by average mileage being 5% lower.

Simon Henstock, BCA UK’s chief operating officer for remarketing, said average values remain at record levels: “With the summer months upon us, the market is now moving into a period when demand eases and typically values remain flat. Household budgets tend to focus on paying for the summer holidays rather than changing the family car, and this year we have the distractions of the Euro 2016 tournament, the EU referendum and the

Trade-in disposals BCA reported that average values for dealer part-exchanges improved for the third month running, reaching £4,490, a £16, or 0.4%, rise and the highest value on record. That figure was ahead year-onyear by £93, or 2.1%. The average mileage of part-exchanges was marginally lower than that of a year before, at 69,365 compared with 69,744 in May 2015.

At Manheim’s auction rooms the average part-exchange value for May dropped by 0.9%, or £32, month-on-month to £3,543.

PAY

➡

Manheim ex-fleet values fall for fourth month

ECONOMIC I N D I C AT O R S

YEAR-ONYEAR

+15%

The Council of Mortgage Lenders reported that firsttime buyers borrowed £3.9bn in April, down 11% on March, but up 15% on April last year.

This totalled 25,100 loans, down 9% month-on-month but up 7% year-on-year.

12,000 10,276

10,622

10,274

10,241

10,000 9,719

9,727

9,662

9,648

9,700

9,848

CREDIT CARD BORROWING

10,583

10,458

10,155

9,899

9,908

9,690

9,778

9,588

9,440

9,662

9,741

9,899

9,906

9,653 9,183

8,000

6,000 4,397

4,278

4,268

4,243

3,559

3,490

3,503

Jun 15

Jul 15

Aug 15

4,334

4,401

4,314

4,248

4,316

4,255

4,382

4,474

4,490

3,766

3,643

3,641

3,617

3,570

3,587

3,643

3,575

3,543

Sep 15

Oct 15

Nov 15

Dec 15

Jan 16

Feb 16

Mar 16

Apr 16

May 16

4,000 3,379

➡

10,508

-3.2%

There were 217 million purchases in April, with a total value of £12.2 billion, said the British Banking Association.

That was down from March’s 223m purchases, worth £12.6bn.

May 15

Used cars bought on finance by consumers through dealerships Apr 2016 Change on 3 months to previous year Apr 2016 Value of advances (£m) 1,163 +9% 3,530 Number of cars 109,821 +8% 332,188 Used cars bought on finance by businesses through dealerships Number of cars 2,983 -6% 9,516

Source: FLA

Change on previous year +13% +10%

12 months to Apr 2016 12,663 1,189,649

Change on previous year +13% +10%

-10%

37,312

-8%

➡

HOUSE PRICES

2,000

+8.2%

As of April 2016, the average house price in the UK is £209,054. Property prices have risen by 0.6% compared with the previous month and are 8.2% higher than April 2015.

am-online.com July 2016 19

ION AT !

TR PEN GIS O RE NOW

61 EXHIBITORS * 38 SECTORS 15 SPEAKERS 8 MASTERCLASSES 1 INSPIRING EVENT *

16 November 2016 Milton Keynes Arena 01733 468325 automotive-management-live.am-online.com

NOVEMBER 16, 2016, ARENA MK, MILTON KEYNES *SO FAR...

AM is pleased to bring you its biggest daytime motor industry event yet utomotive Management Live is a day-long exhibition packed with innovative ideas, best-practice advice and the latest products for used car retailers and franchised dealers, who are invited to attend for free.

Taking place across 2,800 square metres of floor space at the Arena MK, Milton Keynes, the expo will also feature product launches, grand prize draws and business-boosting drop-in clinics, as well as legal and regulatory updates to help bring all of your industry knowledge up to date.

Stephen Briers, editor-in-chief of AM, said: “We’re really excited to be launching this new event for the UK’s motor retail industry in 2016. We expect it to become one of our flagship events, alongside the AM Awards and AM100 Dinner, because the quality and breadth of information will be essential for people employed in motor retail at any level.”

Sue Robinson, director of the NFDA, said: “We are delighted be part of this important event for the motor industry and would encourage all dealers to participate from all sectors of their business.”

Demand is strong, so visit automotivemanagementlive.co.uk now to register and we look forward to seeing you on November 16.

A

Find out more and register (dealers go FREE) at: automotivemanagement 6 July 2016 am-online.com

Exhibitors So far, 61 exhibitors from 38 industry sectors – including website designers, legal experts, finance providers and remarketing firms – have signed up to appear.

AA Garage Guide Alphera Financial Services ASE Automotive Compliance Autos on show AutoWeb Design Autovolo BCA Buyacar Call it Automotive Car Care Plan carwow CBW Design CitNOW Codeweavers Cooper Solutions

Dealer Management Services Diamondbrite Drive Development Solutions DSG Group Dura EDT Automotive EMaC eDynamix GardX International Gemini Computer Systems GForces Hitachi Capital Consumer Finance Howes Percival In-Automotive Insurethat iVendi

JudgeService Lawdata Manheim Remarketing Marketing Delivery Moneypenny Motors.co.uk Movex Nextgear Capital NFDA Nick Stone Media Pentana Solutions Perfect Channel Premia Solutions Product Partnerships Quid Car Ads RDS Global

Reef Business Systems Reynolds & Reynolds Rhino Events Rotary Lift Search Optics Spidersnet Supagard T Cards Direct Titan Dealer Management Solutions Total UK TRACS Solutions VE Interactive WMG

Best-practice masterclasses

The F&I Theatre

As part of AM’s Best Practice Programme, industry experts will share their most effective working methods and crucial advice in a dedicated masterclass area throughout the day.

The F&I Theatre will be your place to learn the latest on Financial Conduct Authority (FCA ) regulation in an engaging, interactive way.

CitNOW: How video is forging customer relationships, sales and retention The opportunity to use video throughout the customer lifecycle is huge. CitNOW will explain video relationship marketing (VRM) and show how manufacturers and dealers have adopted this.

Cooper Solutions: The modern auction as part of the new and used car strategy Exploring the role of both physical and online auctions and the appraisal process as vital elements of the dealership’s new and used car strategy. eDynamix: Boosting customer loyalty via aftersales This session discusses how aftersales can maximise the dealership’s customer retention capability, confronts issues such as migration to the independent sector and explores wider opportunities.

ALPHERA Financial Services Creating a win-win approach to customer finance Exploring the motor finance landscape in the context of increasing competition, evolving consumer demands and regulatory impacts, Alphera draws upon its decade of experience in the UK market to share knowledge and deliver skills-oriented workshops. These will feature practical ideas that can be implemented in dealerships, as well as some ‘must-do’ finance top tips.

Car Care Plan Insurance products, regulation, customer satisfaction and profitability Stringent regulations under the FCA are creating a very different sales environment for insurance products. This session looks at the latest developments and how best practice has evolved since the introduction of new GAP rules. It also explores the increasing role of online in customer engagement and alternative methods of purchase to the traditional point of sale.

GForces: The continually evolving digital landscape GForces will highlight how the fast-paced digital environment continually develops and evolves and outlines some of the best practices currently in operation. iVendi: Understanding consumer online finance behaviour iVendi draws on its data and detailed analysis to show how finance and the availability of information online can sway the car-buyer’s decision to visit a dealership and other insights into the car-buyer’s online behaviour.

JudgeService: From purchase to retention, the customer review cycle This session underlines the hugely influential role fellow consumers play in a customer’s decision to buy. It will encourage dealers to think holistically about the entire purchase journey including how consumers research their next vehicle, the purchase experience, customer reviews, retention and repurchase.

Marketing Delivery: The maturing of social media Tackling issues such as balancing organic and paid-for reach, local content, the dominance of mobile and relevant analytics, this session promises to bring you up-to-date with the latest thinking, trends and influences.

Supagard: Developing a sustainable new car strategy Exploring the new car market and areas that require the dealer’s focus in order to maximise profitability and best prepare for the future.

Legal advice clinic Independent legal advisers to the automotive sector, Lawdata will be on hand to answer individual queries in the Automotive Management Live Legal Advice Clinic. Dealers will be able to raise any areas on which they would like a legal view. Lawdata expects questions on legal developments such as the Consumer Rights Act, employment law and compliance queries.

tlive.co.uk. Tweet us on @AMLive2016 if you are attending #AMLive am-online.com July 2016 7

SHOWROOM 81

82

Honda HR-V

Honda has made a series of films to showcase the features of the HR-V.

THE CARS DRIVING YOUR BUSINESS

Mazda2

Despite a few hiccups with its online offers, registrations of the Mazda2 are soaring.

FIRST DRIVE: MCL AREN 570GT

On the fast track to 4,000 cars a year The £154,000 570GT is central to McLaren Automotive’s plan to double UK registrations and almost triple production

By Tom Sharpe herever McLaren Automotive moves, it moves at speed and its Sports Series is about to usher in a period of growth that it says will see production grow from about 1,400 cars a year to more than 4,000.

Billed as an “everyday driver”, the £154,000 570GT is its most luxurious, refined and comfortable sports car yet, according to McLaren.

Unveiled at the Geneva Motor Show in March and now officially heading into the UK’s five McLaren Automotive showrooms (soon to be six, with the imminent opening of Rybrook Holdings’ facility at Bristol’s Cribbs Causeway), the Surreybased brand’s latest creation could be its most important yet.

In 2015, McLaren produced a total of 1,654 vehicles, with UK registrations of 171 up from 121 in 2014, and the expectation is to double that figure this year.

Geoff Grose, McLaren Automotive head of vehicle

W

78 July 2016 am-online.com

Read our interview with McLaren’s sales and marketing director, Jolyon Nash, from the February issue of AM, at am-online. com/mclaren-profile

development, said the five-year-old manufacturer, which is poised to announce a third consecutive year of profitability, has high hopes for the new model.

Managing demand for the product is already a key priority, with a seven-month lead time for customers and impressive performance expected within the increasingly important McLaren Qualified approved used programme. Residual values for the 570GT (3yr/30,000 miles) are expected to be on par with the 570S’s 63% – some 18% better than a Porsche 911 Turbo S. Grose said: “Our 80 retailers will soon be receiving their allocation of a showroom car and a demonstrator and the challenge for them will perhaps be persuading customers that they can’t have those cars and have to wait.

“McLaren is intent on maintaining its exclusivity, so we will never produce more than around 4,500 cars a year and that will make the job of managing lead times quite difficult.”

Although the 570GT is intended for everyday driving, it still

F O R M O R E R E V I E W S V I S I T: w w w . a m - o n l i n e . c o m / r o a d t e s t s

The 570GT’s doors now open more vertically, improving access in tight parking spaces

The interior is the most plush of the Sports Series range

takes its performance credentials very seriously – it can accelerate to 62mph in a searing 3.4 seconds and on to a 204mph top speed. It is fitted with a 3.8-litre twin-turbocharged V8, delivering 564bhp and 443lb-ft of torque.

Fuel efficiency claims of 26.6mpg on the combined cycle and CO2 emissions of 249g/km do not scream practicality, but with a design fundamentally changed from that of the more performance-focused £147,000 570S, the 570GT has introduced a side-opening rear glass hatch, underneath which lies a 220-litre luggage space. In addition to the 150 litres of space available under the bonnet, the result is a load space equivalent to that found in a BMW 1-Series.

A panoramic glass roof continues the theme set by that glass rear hatch, allowing light to flood into a leatherwrapped interior. This features prominent areas of the carbon-fibre trim that defines the look of many McLaren products, but the interior of the 570GT is more plush than anything found elsewhere in the comparatively pared back and driver-focused Sports Series range.

The glass roof uses McLaren’s Sound and Solar Film to cut down glare and deaden noise. McLaren has also worked with Pirelli to develop a set of P Zero tyres, which incorporate the French brand’s patented Pirelli Noise Cancelling technology to deliver a more refined ride.

The carbon-fibre tub that forms the lightweight (just 75kg) and rigid core of all McLaren Automotive products has been modified to be both lower and narrower at the front end of the door sill to allow easier access and the trademark dihedral doors now open more vertically, bringing improved access in tight parking spaces.

One area where retailers will be keen to see developments is in the McLaren Special Operations (MSO) division headed by executive director Paul Mackenzie.

Mackenzie told AM that MSO is becoming more and more involved in the early development of cars to come up with a range of personalised options.

He said: “The MSO products represent a huge and growing opportunity for retailers. We have seen that many are making great profits by really embracing the concept, while others are more apprehensive, but the benefits for them are obvious.

“Many of the bespoke parts on the newer cars have been

“The challenge for [retailers] will perhaps be persuading customers that they have to wait” Geoff Grose, McLaren redesigned to allow them to be fitted by the retailer and that’s all part of the move we need to make as volumes grow and retailers gain the ability to realise greater profits.”

While desirable options will benefit dealers, the 570GT’s design, by chief designer Robert Melville, is described by the Yorkshireman as McLaren’s most “classically graceful”.

A rear spoiler – 10mm taller than the 570S – helps to reduce lift at speed and huge air intakes down each flank aid cooling on the turbocharged V8.

On the road, the 570GT – riding on conventional springs with damping some 15% softer than the 570S – provides a supple ride. At motorway speeds, a degree of roll can even become apparent.

The ability to affect both handling and drivetrain via two dials on the centre console means the driver can tune the car through Normal, Sport and Track settings.

In Normal, the car is relaxed and remarkably refined, albeit still hugely fast when called upon.

Sport tightens the ride up and sharpens the gear shifts of the seven-speed automatic gearbox which can be operated manually via a pair of F1-style, steering-wheel paddles.

Adjusting suspension, drivetrain and stability systems still further, Track is best preserved for circuit driving.

Whip-crack gear-changes and surging acceleration is a given in this supercar-quick slice of advanced British engineering.

The combination of performance and finesse is expected to see the 570GT account for 40% of all sales generated from the three-model Sports Series range made up by the 540C (£126,000), 570S and 570GT, which itself is anticipated to account for two thirds of all McLaren sales in the coming 12 months.

McLaren Automotive powertrain director, Richard Farquhar, said: “The reaction to the 570GT has been amazing.

“Everyone in the business has to step back and realise what we are all part of at the moment. From the designers to the engineers and the production teams and retailers: we are building what will hopefully be a truly iconic brand for decades to come.”

S P EC I F I C AT I O N Price from £154,000 Engine 3.8-litre twin-turbocharged, 564bhp Performance 0-62mph 3.4 seconds; top speed 204mph Transmission 7sp automatic Efficiency 26.6mpg, 249g/km CO2 RV 3yr/30k 63% (est) Rivals Porsche 911 Turbo S, Audi R8

WHAT YOUR CUSTOMERS WILL READ ABOUT THE MCLAREN 570GT TOP GEAR The GT is elegant and understated. But there’s nothing understated about the way it lights your fire when you point it down a cursive road.

THE TELEGRAPH The 570GT proves that by dialling back on the numbers, McLaren is learning to make a great road car as well as a track car.

EVO It may be the most refined, luxurious and ‘long-trip’ McLaren ever made – but its DNA is still laced with sports car genes.

am-online.com July 2016 79

IN AUGUST’S ISSUE

C O N TA C T U S

PUBLISHED JULY 22

AM, Media House, Lynch Wood, Peterborough PE2 6EA Email: AM@bauermedia.co.uk Editor-in-chief Stephen Briers 01733 468024 Editor Tim Rose 01733 468266 News and features editor Tom Sharpe 01733 468343 Head of digital/associate editor Jeremy Bennett 01733 468261 AM production Head of publishing Luke Neal 01733 468262 Production editor Finbarr O’Reilly 01733 468267 Designer Erika Small 01733 468312 Contributors Debbie Kirlew, Chris Lowndes, Philip Nothard, Prof Jim Saker, Tom Seymour

Face to Face: Steven Eagell How a hat-trick of acquisitions is putting AM100 dealer group Steven Eagell in a stronger position for growth with its sole brand partner, Toyota.

Managing thirdparty relationships How dealers decide what to outsource, and how to ensure suppliers live up to your expectations.

First drive: Suzuki Baleno The Japanese brand launches new technology in this not-so-mini supermini.

Subscriptions 01635 588494. Annual UK subscription £99, two years £168, three years £238.

Overseas one year/12 issues £149, two years £253, three years £358.

Expert advice on getting the most from your employees.

Accident Exchange ...........................26 Aston Barclay.....................................80 Autoclenz ............................................76 Autotech Recruit ...............................83 Autotorq ...........................30, 31, 32-33 Autoweb Design ................................46 Barclaycard Loans .............................2 British Car Auctions ...................76, 85 Call It Automotive .............................83 Carwow .........................................48-49

86 July 2016 am-online.com

Castrol .................................................24 CDK Global (UK)..........................44-45 Chris Eastwood Automotive ..........85 Cooper Solutions.........................50-51 Dealer Management Services.......25 Dennis Buyacar ...........................52-53 Drive Group.........................................35 Enquiry Max ..........................54-55, 85 Exchange Enterprises.......................9 Gardx International....................56-57 Hitachi Capital Consumer Finance.... ..........................................................58-59 Infomedia ............................... 60-61, 88 Ivendi..............................................12, 82 John W Groombridge.......................80

AM events Event director Chris Lester Event manager Luke Clements 01733 468325 Event planner Nicola Baxter 01733 468289 AM publishing Managing director Tim Lucas Office manager Jane Hill 01733 468319 Group managing director Rob Munro-Hall Chief executive officer Paul Keenan

AM/IMI People Conference Report

ADVERTISERS’ INDEX

AM advertising Commercial director Carlota Hudgell 01733 366466 (maternity cover) Group advertisement manager Sheryl Graham 01733 366467 Head of project management Leanne Patterson 01733 468332 Project managers Kerry Unwin 01733 468578 Lucy Peacock 01733 468327 Account managers Sara Donald 01733 366474 Richard Kerr 01733 366473 Kelly Crown 01733 366364 Recruitment enquiries Richard Kerr 01733 366473

Karcher (UK) ......................................77 Lawdata...............................................77 Lloyds Banking Group ...............14, 17 Mapfre Abraxas UK....................62-63 Motonovo Finance......................64-65 Perfect Channel ..........................66-67 Search Optics UK.........................68-69 Secure Valeting ...........................70-71 Steele-Dixon & Associates ............85 Symco Training..................................42 Tootle......................................................6 Trader Publishing ................40-41, 43 Trusted Dealers.................................13 Zype TV ....................................11, 73, 74

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