Research from GoCompare reveals that since 2012, the average cost of compulsory car insurance excesses has risen well above the rate of inflation. Depending on their policy, drivers can now face compulsory excesses for a fire, theft or accidental damage claim of up to £3,000, compared with a maximum of £475 in 2012. Average excesses for accidental damage … [Read more...]
Finance News
Motorists pay hefty price for auto-renewal insurance policies
Ahead of one of the busiest months for car insurance renewals, GoCompare Car Insurance revealed millions of motorists are overpaying to the tune of £982m a year for their car cover by allowing their insurer to automatically renew their policy. At their last renewal, 4.1 million drivers rolled-over their insurance without checking to see if they could get … [Read more...]
Tradelines 28 August
The Petrol Retailers Association has welcomed hints carried by national media that the Treasury may be considering fuel duty cuts in the upcoming Autumn Budget, said Brian Madderson, Chairman of the PRA. Senior sources have confirmed that the Government would announce the 2ppl fuel duty cut later this year - the first reduction of the motoring tax in … [Read more...]
New car discounts are rising
New car discounts have steadily increased since the beginning of the year as the motor trade struggles to shift stock. Citroën retailers have offered the biggest discounts on new models, with nearly 12% savings since the start of the year, according to exclusive What Car? research. Premium brands, including BMW, Mercedes-Benz and Volvo among those offering … [Read more...]
Insurers are raising motor costs by stealth
Analysis of car insurance policies reveals that since 2012 admin fees have become more commonplace with charges increasing by twice the rate of inflation, but you'd hardly know about it. Cancellation fees have risen by 49% since 2012; Charges for mid-term policy alterations have increased by 38%; GoCompare Car Insurance urges drivers to … [Read more...]
Newslines 16 November
The sky’s the limit with the next Volkswagen T-Roc Cabriolet. The powered soft-top SUV will be shown at Frankfurt Motor Show next month and it follows the Beetle, Golf and Eos convertibles and will on sale early next year. The UK’s used car market declined by a moderate -2.8% in the second quarter of the year, according to Society of Motor … [Read more...]
Dealers offered one-stop check on vehicles
Thousands of motor traders across the UK will be able to perform a provenance check and value a vehicle using a new one-stop portal from Cazana and Experian. In this fast-changing market dealers need accurate, real-time insight on which cars to buy, their provenance and how to price vehicles appropriately to attract consumer demand. The companies’ new joint … [Read more...]
Dealers welcome Government boost to EV charging network
It is positive to see that the Government has announced additional funds for charge-points on residential streets, said Sue Robinson, Director of the National franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle retailers in the UK. Transport Secretary Grant Shapps has announced an additional £2.5 million to fund … [Read more...]
Massive on-line used cars’ website launches today
A new online marketplace for used cars launches in the UK today. The website heycar.co.uk is on a mission to bring greater trust and transparency to one of the UK economy’s largest retail sectors. The brand will do this by creating a superior user experience for consumers and dealers, launching with an inventory of over 100,000 listed vehicles from nearly … [Read more...]
Auction prices encouraging, says trade
More than 50% of auction hall members are expecting conversion rates to increase in August. This has been assisted by the volume of vehicles coming though remarketing centres which has meant buyers have had less vehicles to choose from and has in turn increased conversion rates of those vehicles that are available to buy, said Louise Wallis, Head of the … [Read more...]
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