CCC

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CCC last won the day on October 4 2019

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About CCC

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    Independent dealer
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    Coper cariage

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  1. It’s often due to skill sets. A friend works in e-commerce. Received 3 job enquiries from M&S the day they announced 7,000 redundancies. If they’d recruited e-commerce skills earlier maybe they wouldn’t have to make so many redundancies.
  2. Whether businesses survive will be partially down to the owner/managers attitude to risk. Fortune favours the brave?
  3. That’s the new reality. It was easy to find new employment before, what’s an unemployed pilot qualified to do if he can’t fly a plane?
  4. CCC

    HeyCar

    With the advent of Cazoo, I'd assumed Heycar was a similar operation retailing cars themselves but having read the article in the latest Car Dealer magazine then it looks like they're just another competitor to Autotrader but with a more restricted dealer/car base. Very interesting reading about their "content is king" approach but I'm a bit clueless as to how that's going to help them when all of their competitors (Gumtree, Motors, Autotrader) are using Google Ad's on searches anyway. I guess another player might force AT to reconsider it's pricing policy. Can't help but think the fragmentation of the used car advertising market has no winners in the end. They heycar valuation tool seems a bit optimistic too with a recent purchase valued at £1900 vs £1480 on AT and £1485 on WBAC.
  5. I’m watching this with interest. HMRC very wary of the problem and now trying to work out the solution. Last idea I read was making it like student loans, you pay back when profits allow. Given that profit is a fudgeable number then they’ll have to audit books to be on top of it properly (eg exclude director and family member salaries) Whatever they do then they need to be harsh early on to get the message across.
  6. I can see the pound plummeting but not sure how that will affect the market. Arguably just make new cars more expensive and help prop up the used market. The cheapies market is where the action will be as people wise up to the risks around PCP and buy what they can afford to run in tougher times.
  7. We’ve got a journalist as PM. Anything is possible. car dealers understand the basics of business.....
  8. I’m not sure it’ll get clawed back but he’ll have to make the payments (cheap) or fold. HMRC will find it easier to claw back money taken fraudently than looking for cash via VAT inspections I suspect. Getting money after going bankrupt might be a lot harder going forwards as I’m sure lenders will be more circumspect after this. Unfortunately a lot of people are going to learn what a real recession is, we’ve not had one since the early 90’s. Those of us who lived through that and the 80’s one have generally been more cautious as we know what can happen.
  9. This. 25% of turnover for most small businesses who qualified for BBL’s wasn’t £50k. Though I know a few one man bands who’ve taken them and been looking for a new sports car.
  10. ^this. A lot via pcp’s as the smart money knows this reduces their exposure significantly and moves it to the finance company. buy assets and lease liabilities. Some people think a super car is an asset which it generally isn’t in the long term. Genuine rarity isn’t what it used to be. Look at all manuf’s numbers.
  11. The big problem will be finding enough stock to do this cost effectively in volume I’d guess. in reality there’s more profit opportunity on slightly rarer stuff where fixing costs might be higher but sales prices higher too (eg nice BMW 6’s/2002’s). If you can weld and spray then MX5 mk1 might be a gold mine but I don’t think there is the demand there used to be. ULEZ and recession might mean a surplus of sellers over buyers in the long term too.
  12. If looking at a private then you often “buy the owner” as much as the car. Evidence of regular maintenance and things being done when they need to be. Service history always a good indicator. Best we had was a Grade 3 Mini that was really Grade 1/2 but no history But limited owners. Quick few phone calls and turns out it had been main dealer serviced annually for 10 yrs.
  13. CCC

    Autotrader

    It’s in the FT but that might be behind a paywall, here’s the same story. https://tamebay.com/2020/05/axel-springer-submit-bid-for-ebay-classifieds.html
  14. CCC

    Autotrader

    I think EBay are selling their classifieds business which includes motors and gumtree. I suspect this is because they’re expecting a decline in revenues (due to FB marketplace?)
  15. CCC

    Hertz

    https://www.theguardian.com/business/2020/may/23/car-rental-firm-hertz-files-for-bankruptcy-protection-in-us No mention of Uk numbers but I’m guessing some of the 30,000 cars per month they will be selling off will be in the UK?