Millons of motorists should learn by the end of this month how long they will have to wait for payouts and how much they will get under the FCA’s motor finance redress scheme. The financial body has also said it expects most successful claims to be paid by the end of this year but acknowledges some may run into next year. The FC intends to introduce an … [Read more...]
Finance News
Car b&b rental considered by owners
Hard-up car owners would seriously consider renting out their car when they don't need it. March’s new Startline Used Car Tracker shows that 37% believe it is a good way to make money from their car when not in use, while 28% would trust the rental company to make relevant safety and security checks. Also, 18% say this kind of passive income is a useful … [Read more...]
Positive outlook for vehicle manufacturing in UK
January’s production figures outline the pressing challenges faced by UK vehicle manufacturing in 2026. Weaker export demand beyond Europe, and a sharp contraction in commercial vehicle production following major restructuring, have all impacted output. That said, the sector continues to depend on overseas markets – with more than three quarters of output … [Read more...]
10,000 jobs & 130 companies hit by Welsh Government axe
Welsh Government has pulled support for 10,000 people and 130 companies who are members of the Welsh Automotive Forum. The 27 year old trade cluster has published its intention to voluntarily dissolve at the end of this month when funding ceases through Industry Wales, which is also being closed down by Welsh Government. WAF was established in 1999 to … [Read more...]
Tribunal slashes public charging VAT
Motorists are likely to see a dramatic drop in costs for recharging an electric vehicle in public places as points widen. A UK court has ruled that the 5% ‘domestic’ VAT rate should apply for charging an electric vehicle on the public network, instead of the 20% currently paid by drivers. Community charge point operator, Charge my Street, had protested the … [Read more...]
Too early to expect pump prices to rise
It is too soon to say if pump prices will rise after the outbreak of Middle East hostilities on Saturday. RAC head of policy Simon Williams said, “While the conflict in the Middle East undoubtedly has the potential to push up pump prices in the UK, it’s not a certainty. The oil price would have to rise significantly and stay that way for some time to have … [Read more...]
Middle East conflict warning for motorists
The escalating conflict in the Middle East has put $100-per-barrel crude oil prices into sharp focus. Analysts from major institutions such as Barclays, Goldman Sachs, and JPMorgan are projecting potential spikes to $100-130 per barrel if the Hormuz Strait faces prolonged disruptions, as it handles about 20-21% of global oil supply and significant LNG … [Read more...]
New Chinese brands now spreading through used market
Almost half of used dealers (45%) say they have added cars from Chinese new entrants to their stock, according to new findings. February’s Startline Used Car Tracker shows 45% say they sell quickly, 33% they represent good value and 20% buyers like the cars on offer. However, 37% of motor retailers are waiting to see how reliable they prove to be, 20% … [Read more...]
Real battery life revealed
In what’s being claimed to be the UK’s largest used battery electric vehicle study, the impact of age and mileage on the charging capacity of batteries has been revealed. Generational, a specialist in battery electric vehicle (BEV) battery condition diagnostics, tested more than 8,000 electric cars and light commercial vehicles (LCVs). It found that … [Read more...]
Aston Martin car plant workers facing cuts
Scores of jobs are on the line in Aston Martin's St Athan plant. The luxury sports car brand today announced a 20% cut in its 3,000 strong workforce in Britain, mostly at its Gaydon HQ and St Athan plants. Aston Martin has confirmed the firm's net losses jumped 52% last year to £493.2m. It has this month announced plans to raise some capital by … [Read more...]
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