The FCA has set out its expectations for firms making full and final settlement offers during the partial suspension of its motor finance redress scheme. But there could still be disputes over settlements. Commenting, Hyder Jumabhoy, Partner at global law firm White & Case LLP and Global Co-head of its Financial Institutions Industry Group and EMEA … [Read more...]
Car registrations slowly rising but there’re worries ahead
The UK new car market rose 5.4% to 152,730 registrations in October, according to the Society of Motor Manufacturers and Traders. The performance marks the 11th consecutive increase, albeit at around half the growth rate seen across the first 10 months of the year after a bumper number-plate change September. Growth was recorded across all sales types. … [Read more...]
First drive: Changan Deepal SO5 Phev Max
Barely six months after launching its first mid-sized SUV pure electric model in Britain, China’s latest entrant has just strengthened and doubled its offering with the introduction of the plug-in hybrid derivative which has a range extender petrol generator. The Changan Deepal SO5 Ultra Phev is now on sale as the Birmingham based importer seeks to widen … [Read more...]
Saudi Arabia unveil first electric cars
The dramatically styled flagship electric vehicles from Saudi Arabia’s national automotive company and first production models were unveiled last night. This national milestone reflects Saudi Arabia’s strategic direction toward developing an advanced industrial sector aligned with the objectives of Saudi Vision 2030, said His Royal Highness Prince Mohammed … [Read more...]
Chinese brands raising their image
Nearly half of motorists (44%) with £50,000 to spend would consider buying a Chinese car over an established prestige brand, new research shows. September’s Startline Used Car Tracker reports that 27% believe a well-designed and well-made car is more important than the brand, 21% that Chinese manufacturers are capable of competing with established upmarket … [Read more...]
Call for scrappage scheme to boost EV adoption
More than eight out of 10 car dealers say the UK needs a scrappage scheme to support electric car sales, according to new research for one finance provideer. September’s Startline Used Car Tracker shows 60% believe the government should encourage the adoption of electric cars and 61% that they need to be as affordable as possible. Also, 26% think electric … [Read more...]
McLaren reveal £500M investment & planned SUV
McLaren Automotive will make a £500m investment to expand its UK manufacturing, engineering and operations, enabling it to accelerate the development of its next generation of models including a long-awaited performance SUV. The investment forms part of a larger commitment from McLaren Automotive shareholder L’IMAD, a sovereign investor of the Government of … [Read more...]
Momentum mounts with EV registrations
With EV registrations rising and the used market surging, NFDA Electric Vehicle Approved highlighted growing momentum in the UK’s switch to electric, while calling for continued action on affordability, charging and consumer confidence. Developed by National Franchised Dealers Association (NFDA) and endorsed by the Government’s Office for Zero Emission … [Read more...]
Used EVs adding to challenges and hitting new prices
The used EV sector is challenging even before the new-plate trade-ins arrive this month, say car makers and dealers. SMMT’s latest used car market data is a welcome indicator that Britain’s EV transition is moving in the right direction – even if not as rapidly as hoped. All-electric models accounted for more than one in 18 transactions between April and … [Read more...]
Agency sales have worked for some retailers – Car Dealer
Three years after Mercedes-Benz and Volvo became two of the first major brands to switch to agency sales for franchise holders, Car Dealer examined the most recent filed accounts of companies across their dealer networks, along with newer additions Mini and Honda. Early accounts were dominated by wariness about commission levels, volumes and whether … [Read more...]
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