Nissan profits have collapsed by 70% in three months. It made $278M to the end of September with retail sales down 7.5% globally, European registrations slid 23% but sales showed a steadying picture in America. JLR is looking for partners to share new technology and other costs, say media reports. BMW and Zhejiang Geely are mentioned but others may be … [Read more...]
Finance
£60 added to average premiums by comparison sites, claim
A new report sheds light on the practices price comparison websites are implementing to persuade vulnerable young drivers to part with their hard-earned cash - when they already pay 149% more than national average on their insurance. Earlier this month the Financial Conduct Authority released an assessment of the insurance industry, which lifted the lid on … [Read more...]
SUVs now seen as growing polluters
A new report that indicates SUVs have become a major source of increases in CO2 emissions during the last few years should prompt businesses to consider their role on company fleets. Fleet software company FleetCheck says that the International Energy Agency document shows that growing demand for SUVs was the second largest contributor to increases in … [Read more...]
New car sales fall is not the full picture
The SMMT figures this morning show a 6.7% fall in new car registrations in October. They do not tell the whole story though, says an industry watcher. Seán Kemple, Director of Sales at Close Brothers Motor Finance, said, ““Disappointing sales figures this month, slightly down once again, point to a lack of confidence among consumers. Larger, more … [Read more...]
Dunton now Ford of Britain HQ
Ford has renamed its Dunton Technical Centre in Laindon, Essex, to Dunton Campus, Ford Britain, to highlight its new role at the centre of the company’s activities in Britain. The Dunton Campus becomes headquarters of its European Commercial Vehicles business group and home to light commercial vehicle engineering, powertrain engineering, Ford of Britain … [Read more...]
Ghost brokers’ deals will haunt you
GoCompare Car Insurance is warning drivers to swerve away from heavily discounted car insurance deals advertised on social media or marketplace websites, and to trust their gut instincts. Victims of fraudsters known as ‘ghost brokers’, lose on average £769 and face penalties for uninsured driving. "Ghost broker" is the name given to someone who poses as … [Read more...]
Used cars three times as popular as new – AACars
Motorists are three times more likely to be driving a car they bought used rather than new, according to the AA’s used car website. The AA-Populus poll of more than 15,000 drivers found that 29% had bought a ‘nearly new’ car most recently, compared to the 26% who opted for a brand new car, and 25% who bought a used car which was more than five years … [Read more...]
Technology overwhelming small traders
Used car dealers are being blitzed with new IT hardware and software to an extent that used car dealers’ efficiencies could be impacted when adopting new technology, according to V12 Vehicle Finance. As part of its road map to develop and launch its used stock funding, dealer stocking and consumer finance proposition, the V12 team researched the sector to … [Read more...]
Electric cars surprise running costs
Electric cars travel up to three times the distance of their petrol or diesel rivals for the same amount of money, according to research. With interest in electric cars rising, many potential buyers are left confused by the way running costs are explained, with ‘miles per kWh’ difficult to compare to ‘miles per gallon’. To help consumers, car reviews and … [Read more...]
Dealers to be banned from some car finance
The Financial Conduct Authority plans to ban the way in which some car retailers and brokers in the motor finance sector receive commission. Currently, some motor finance brokers receive commission which is linked to the interest rate that customers pay. The broker can set that rate and the FCA found that the widespread use of this type of commission … [Read more...]
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