The world drastically changed in March 2020, and retail changed too. The nature of customer demand has been turned on its head, and anybody trying to sell products or services in this environment needs to work to keep up. It’s a challenging and unprecedented time for not only dealerships, but for the motor industry as a whole. Buyers are having to stay home and showrooms are closed, so now … [Read more...]
Finance
Car makers outline plan for production return
As Europe is grappling with the health, social and economic impacts of COVID-19, the European Automobile Manufacturers’ Association has set out four guiding principles for a successful re-launch of the auto industry, which will be vital to the wider economic recovery of the continent. “It is in Europe’s interest that this key strategic sector not only recovers, but also is revitalised in … [Read more...]
Insurance premiums slight rise, so shop around
The cost of car insurance across Wales has increased in the past 12 months, shows new data. The average price of car insurance in the region has accelerated by £21 (3%) in the past year to now stand at £699, according to the latest Confused.com survey of more than six million quotes every quarter, the most comprehensive car insurance price index in Britain. While this may not be the news that … [Read more...]
Global collapse of van production to be felt for 2020
Global commercial vehicle production volumes in 2020 compared to 2019 are forecast to be down 22 percent , some 650,000 units to 2.6 million units, in the wake of the COVID-19 pandemic, according to the most recent analysis from IHS Markit. Individual regional forecasts are set to a downtrend, and supply chain impacts are being felt, as the consequences of the virus have shuttered … [Read more...]
Dangers lurking on empty roads
Empty roads over the last few weeks have been used as race-tracks by some drivers, police have reported. Opportunist thieves and drug running gangs have also desperately used them to quickly move about, despite the risk of being caught by routine police patrols stopping to check on Coronavirus compliant trips. Now company car and van drivers have be warned to take extra care on the roads as … [Read more...]
Challenging times ahead for trade, says analyst
It has been a month of halves with two weeks of unexpected silence in the showrooms resulting in many staff being furloughed in the absence of customers. Service departments and smaller garages are working to keep key workers mobile and safe with their transportation needs and the insurance industry is still largely active. Dealers still have a shop window and many eyes browsing vehicles on … [Read more...]
AFVs demand likely to soar
Over half of UK dealers (53%) plan to stock alternative fuel vehicles in the next five years, according to research from Close Brothers Motor Finance’s Dealer Satisfaction Survey. Positively, almost three in ten (29%) car dealers already stock AFVs. And for those who already have stock, two thirds (64%) plan to increase it and a quarter (24%) plan to maintain their current level. Just 2% of … [Read more...]
Tradelines 15 April
Ford is preparing for a $600M loss in the first three months of 2020 due to sales slowdown in the shadow of the global coronavirus. It’s already secured credit facilities and has a $30B reserve to cover most eventualities. New service and maintenance procedures at Arval UK have been adapted in a matter of days to keep essential fleets available 24/7 during the coronavirus crisis. Corrine … [Read more...]
Lockdown legalities for fleets & users
The handing back of company car and van keys or fobs to employers in order to avoid benefit-in-kind taxation during the coronavirus lockdown needs careful management, the Association of Fleet Professionals has warned. There remained both pertinent questions for HMRC around the issue and a range of potential practical problems to resolve, explained co-chair Caroline Sandall. She said, “During … [Read more...]
Call for rip off insurance renewals to be outlawed
Drivers want legal steps to be taken to put the brakes on rip-off car insurance renewal pricing. According to the GoCompare Car Insurance study, 4.7 million drivers3 were caught out by the auto-renewal trap - where their insurer auto-renews their policy for another year if they haven’t checked for a better deal. The practice costs motorists £1.2bn a year in higher … [Read more...]