- STEVE YOUNG’S AUTO WEST CHISWICK OPENS
- CHINA HAS INVESTED $100bn IN THE UK
- TRUMP TARIFFS ‘WON’T CAUSE GLOBAL RECESSION’ SAYS IMF
- HALFORDS SHARES SOAR AS CEO DEPARTS
- WEEK AHEAD: Tesla Q1 earnings
- KIA EV3 IS WORLD CAR OF THE YEAR
- INFLATION FALLS – BUT EXPECTED TO RISE IN APRIL
- STELLANTIS APPROVES €23m TAVARES PAYOUT
- US RETAILERS PROMOTE TARIFF FREE CARS – WHILE THEY CAN
- OPINION: Scoring high and low
Steve Young’s Auto West Chiswick opens
Auto West Chiswick, whose MD is ICDP’s Steve Young, has officially opened. The Omoda and Jaecoo retailer is located next to Hogarth Roundabout – and is formerly a Tesla retailer.
“It’s the first dealership you come to when you drive in from Heathrow and the M4, where you can pull straight off the road and come directly into the showroom,” said Young.
He also revealed Auto West London has a second retailer opening in Wandsworth later in 2025.
Auto West London is wholly owned by Cetas Automotive, the largest auto retail group in Turkey and a top 50 retailer in Europe. Owner and executive chairman Mehmet Tasar also attended the opening event.
China has invested $100bn in the UK
China has invested more than $100bn in the UK since 2000, according to research outfit the Rhodium Group. The FT reports around a third of the spending has been in the energy, technology and transport sectors. Geely and Envision Group are cited as major transport investors.
Chinese investment in the UK has, however, been slashed in recent years, due to a “less welcoming” attitude and Beijing’s tightening of capital controls.
Trump tariffs ‘won’t cause global recession’ says IMF
The IMF says inflation will rise in some countries as a result of US president Donald Trump’s trade policies, but they will not cause a global recession. Instead, there will be “notable” markdowns to growth forecasts, said MD Kristalina Georgieva on the eve of the IMF’s spring meeting in Washington.
Halfords shares soar as CEO departs
Halfords shares soared as it announced its second profit upgrade in four months last week – along with the departure of CEO Graham Stapleton. He oversaw a transition from a traditional cycling and motoring retailer to an omnichannel retail and services business.
New CEO Harry Birch, former chief of online retailer The Very Group and Rank Group, “is expected to accelerate the company’s digital growth and strategic evolution”.
WEEK AHEAD
Tuesday, Tesla Q1 earnings (after US market closes)
Wednesday, public sector net borrowing
Friday, retail sales
DATA INSIGHT
Kia EV3 is World Car of the Year
51: Number of other cars the Kia EV3 beat to be named World Car of the Year 2025. It is also the current UK Car of the Year. Auto Sunday editors are judges in both awards.
Inflation falls – but expected to rise in April
2.6%: Latest CPI measure of inflation, down from 2.8% in February and 3% in January. However, it is likely to rise again in April as rises in energy, water and council tax bills kick in.
GLOBAL AUTO
Stellantis approves €23m Tavares payout
Stellantis shareholders last week approved a €23.1m final pay package for former CEO Carlos Tavares. 67% of investors voted in favour of the deal during the Stellantis AGM in Amsterdam.
The payout, reports Euronews, includes a €2m base salary, €500k ‘post retirement benefit expense’ and more than €20m as part of a long-term incentive package.Stellantis said its search to find a new leader will be complete in H1. Five candidates are said to be on the shortlist.
US retailers promote tariff free cars – while they can
Savvy US retailers are responding to tariffs by advertising tariff-free cars. Mercedes-Benz of Calabasas has a banner that reads: “No Added Tariffs. 100% Tariff Free” – the German OEM has said it will cover the cost of tariffs for 2025 model year cars, and probably has enough inventory in hand imported before the tariffs to keep the promise. Infiniti and Porsche retailers are also promoting tariff-free cars.
“I think it is a good sales tactic, but keep in mind right now they are tariff-free cars… because the tariff has not stated yet, and cars that are being produced [now’ will have tariffs,” said Tom Maoli, a Lexus, BMW and Ford franchise-holder. “I’m not so sure how they sustain that marketing.”
OPINION
Scoring high and low
Reading through the full NFDA Dealer Attitude Survey, which was out last week, provides a valuable insight into the relationship between retailers and national sales companies.
Beyond the headline winners and losers, it’s the changes in scores and rankings of brands, or groups of brands, that can be most telling.
Stellantis is a prime example. For years, its brands have, for the most part, lurked at the lower end of the ranking. However, the latest survey has seen both increases in scores and positioning for the Stellantis group of companies against other brands and against the market averages.
It’s not uncommon for a change of management to alter a score. Eurig Druce took over from Maria Grazia Davino approximately six months ago. However, leadership changes can see scores go down as well as up and by all accounts, retailers liked and respected Davino.
As you dig through the NFDA survey data one area of assessment stands out – electrification.
All of the questions relating to EVs such as current product, upcoming product, incentives, training and much more, Stellantis saw very respectable scoring by retailers. Sure, it wasn’t leading the charts, but it clearly has a significant influence on the overall score.
With so many NSCs under pressure to hit the ZEV Mandate figures, if their retailers don’t hit EV targets, then bonuses or deliveries for ICE cars won’t happen.
The changes to the ZEV Mandate will help soften this relationship between consumer demand, the NSC and the ‘middle man’ retailer. However, unless something is done to stimulate retail EV sales the link between retailer and NSC will only be more strained in future.
Tristan Young
Editorial Director
Get in touch: tristan@autosunday.co.uk
ISSN 2977-6597