New York-based Cerberus Capital Management is currently acquiring the Vendor Finance portfolio from Westpac Group, and is reportedly now eyeing up its $10 billion dealer finance and car loan portfolio.
Following a 45% year on year increase in new vehicle sales for January, Volvo Cars Australia managing director Stephen Connor says he anticipates that dealers will sell the remaining stock of new diesel vehicles by the end of March.
Audi has globally premiered its e-tron GT – a luxury electric four-door coupe capable of 487km range which will be introduced as a rally sport (RS) model at the same time. It’s built on similar technology to the electric Porsche Taycan.
General Motors has launched a social media campaign to pay tribute to the Holden brand and remind current owners that it continues to offer parts and service support across Australia.
“Acutely disappointing” is the Electric Vehicle Council’s (EVC) view of the Morrison government’s newly released Future Fuels Strategy discussion paper which rules out EV subsidies but encourages Australian businesses to invest in plug-in hybrid (PHEV) and electric car fleets.
Groupe Renault has announced the appointment of an independent distributor to operate the Renault network in Australia. Australia joins several overseas markets moving to distributorships as part of Groupe Renault’s global reorganisation. Sydney-based RVDA, a subsidiary of the Balverona Group owned by Neville Crichton, will operate the Renault brand in Australia from April 1 this year. The existing Renault dealer network will remain unchanged. “This announcement by Groupe Renault secures Australia’s future as an important market,” Renault Australia managing director Anouk Poelmann says. “After recording a strong sales result in a difficult year, Renault is on track to cement its position as a premium mainstream brand in Australia,” Poelmann says “We have a strong track record in successfully building and managing world-renowned automotive brands locally,” Neville Crichton says.
Autocare Services Pty Limited (Autocare Services), a wholly owned subsidiary of LINX Cargo Care Group, has been placed into voluntary administration.
Toyota Australia is targeting GR Supra and GR Yaris owners with the offer of a free exclusive 12-month member of the Gazoo Racing Club.
The Federal Chamber of Automotive Industries, (FCAI), says new vehicle sales in January 2021 follow the strong recovery shown by the market in the final months of 2020 and reflects the built-up demand over the COVID lockdown.
In the 15 years since Lexus Australia introduced the RX 400h SUV in 2006, it reached the milestone of more than 30,000 hybrid deliveries to customers in December 2020.Cumulative Lexus hybrid sales reached 30,229 vehicles in December 2020 with the technology offered on CT, ES, GS, IS, LC, LS, NX, RX and UX models.The brand says that consumer demand for hybrid technology is accelerating.
