New cars are pouring onto UK roads at a faster rate than ever, led by Wales. SMMT figures show 184,101 new cars were registered in the UK this November, with the market increasing by a steady 2.9%. The growth has helped deliver more than 2.5 million new cars on to British roads so far this year – the first time the milestone has been reached in November. Demand for alternatively fuelled … [Read more...]
Finance News
PCP schemes expected to cost more
The falling value of the pound is likely to see monthly PCP new car payments rise in 2017, predicts Glass’s. The vehicle data specialist says that manufacturers importing their vehicles into the UK will need to recoup margins somewhere and that PCP payments are the least unpalatable choice. Rupert Pontin, director of valuations, explained, “The pound fell in value by about 20% against the … [Read more...]
Rail industry: Wales must not be left in the sidings
The Railway Development Group that represents train-operating companies has shone a searchlight on the impending boom in supplying rolling stock to meet demand, says transport economist Prof Garel Rhys. This is in addition to the redesign of antiquated stations and other infrastructure. Apart from interest in attracting facilities to make lighter weight suburban stock, the Welsh … [Read more...]
Silverstone sale is back on the grid
Silverstone is back on the market. JLR has pulled out of the proposed purchase of the F1 venue to use it as an engineering base and another bid by millionaire Ginetta owner Lawrence Tomlinson has also lapsed. Reports say that Porsche, which has base at the track, holds a covenant which would stop another car maker using the facility for more than 45 days a year. The name of Jonathan … [Read more...]
Finance checks need overhaul, says provider
Motor finance companies need to adopt technology that allows them to credit check a potential customer without leaving a footprint on their file, says Startline Motor Finance. CEO Paul Burgess explained that multiple footprints on customer files held by credit checking agencies tended to lead to a reduced credit rating – but that in 2016, with more and more customers shopping around for … [Read more...]
End of the road for fleet managers
Once hailed as the guardian of the company car, the traditional fleet manager is now an endangered species, especially in the small business sector, as the resource intensive role becomes difficult to justify from a cost efficiency point of view. According to a new report - Modern fleet management and the drive to reduce costs - from CBVC Vehicle Management, the fleet management and leasing … [Read more...]
Newslines 7 October
The new Ford Mustang outperforms the Porsche Cayman and even Nissan GT-R when it comes to keeping ahead on used value. Experts at cap hpi found the latest generation of the classic US sportscar held onto 99.5% of value over 10,000 miles, well ahead of its rivals, with just over 2,300 registered on UK roads this year. Three new engines have been added to the … [Read more...]
SUVs not putting a wheel wrong on forecourts
Boasting practicality, presence and efficiency, subcompact SUVs are all the rage in the UK at present and clearly an increasingly popular choice with drivers. The latest analysis from cap hpi looks at the total cost of ownership (TCO) to reveal the 10 SUVs with the lowest motoring costs over the first 3 years. The Dacia Duster Estate 1.6 SCe 115 Access 5dr and Dacia Diesel Estate 1.6 16V … [Read more...]
Logbook loans need reviewing and changing
The law on logbook loans needs changing, say law-makers and the Citizens Advice body. Logbooks for vehicles have been used as surety on loans, often at high interest rates, but pose problems when a vehicle is sold on and the new owner faces paying the debt or losing a vehicle. Citizens Advice is supporting recommendations from the Law Commission’s report on logbook loans including … [Read more...]
Web-sales and auctions are changing market
New disposal routes to market are helping to maintain values as the number of used cars available continues to grow, reports epyx. The company says that online platforms such as its own 1link Disposal Network – which has seen a 65% year-on-year increase in the numbers of vehicles sold - are helping to take the pressure off traditional disposal channels such as motor auctions. David Goodyear, … [Read more...]