The data for Mercedes-Benz Retail Group UK Limited shows a general trend of decreasing average time to pay invoices over time. From 2018 to 2022, the average time to pay has decreased by 27.3%. Additionally, the percentage of invoices paid within 30 days has increased from 77% in 2018 to 50% in 2022. However, there has been an increase in the percentage of invoices paid between 31 and 60 days, from 20% in 2018 to 37% in 2022. The percentage of invoices paid later than 60 days has also increased from 2% in 2018 to 18% in 2022.
The data for Mercedes-Benz Retail Group UK Limited shows a relatively stable trend in terms of average time to pay. However, there have been fluctuations in the percentage of invoices paid within 30 days, with a decrease from 77% in 2018 to 49% in 2021, followed by an increase to 50% in 2022. The percentage of invoices paid between 31 and 60 days has also had fluctuations, with a peak of 41% in 2021 and a decrease to 34% in 2022. The percentage of invoices paid later than 60 days has been consistently increasing, with a peak of 18% in 2022.
The data for Mercedes-Benz Retail Group UK Limited shows a decrease in the average time to pay invoices over time, with a decrease of 27.3% from 2018 to 2022. However, there has been an increase in the percentage of invoices paid later than 60 days, with a peak of 18% in 2022. The company has also shown improvements in paying invoices within 30 days, with an increase from 77% in 2018 to 50% in 2022.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2022 - 31 Dec 2022 | 13 Jan 2023 | 53 | 45% | 37% | 18% | 29% |
| 01 Jan 2022 - 30 Jun 2022 | 15 Jul 2022 | 46 | 50% | 34% | 16% | 27% |
| 01 Jun 2021 - 31 Dec 2021 | 15 Jul 2022 | 40 | 49% | 41% | 10% | 23% |
| 01 Jan 2021 - 30 Jun 2021 | 15 Jul 2021 | 29 | 63% | 32% | 5% | 14% |
| 01 Jul 2020 - 31 Dec 2020 | 21 Jan 2021 | 32 | 62% | 32% | 6% | 17% |
| 01 Jan 2020 - 30 Jun 2020 | 07 Aug 2020 | 24 | 70% | 25% | 5% | 8% |
| 01 Jul 2019 - 31 Dec 2019 | 14 Jan 2020 | 29 | 73% | 21% | 6% | 13% |
| 01 Jan 2019 - 30 Jun 2019 | 10 Dec 2019 | 28 | 70% | 23% | 7% | 14% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 30 | 67% | 26% | 7% | 14% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 33 | 77% | 20% | 2% | 7% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Mercedes-Benz Retail Group UK Limited, as standard, pays all its suppliers and distributors no later than the last day of the month following the month in which an invoice is received. Intra-group vehicle purchases are paid within 15 days. Variations to these standard payment terms are by exception only and only applied when negotiated and agreed by both parties.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Mercedes-Benz Retail Group UK Limited offers a dedicated front office customer service function, who can be contacted by phone or email. Mercedes-Benz Retail Group UK Limited offers a supplier payment portal to allow suppliers to monitor their account and the status of their outstanding invoices.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Mercedes-Benz Retail Group UK Limited is the registered entity behind Hedin Automotive UK, which now trades under that name rather than its historic record name. It operates car dealerships across London and the South of England, selling new and approved used vehicles under the BMW, Mercedes-Benz Cars, Mercedes-Benz Vans, MINI and smart brands. Services include fleet and business vehicle sales, finance and insurance arrangement, and after-sales servicing and parts. The business forms part of the Hedin Mobility Group, described as Europe's largest dealership network with over 330 locations. Its registered office is in Milton Keynes, and its core activities align with the recorded SIC codes for sale and maintenance of new and used motor vehicles.
Generated from the company's website and Companies House records. Sources: mercedesretail.co.uk · mercedesretail.co.uk · mercedesretail.co.uk