More than 23 million people expect to be win compensation for mis-sold car finance a new survey has found as Brits await a pivotal Supreme Court ruling that could release tens of billions in potential payouts. A new poll by law firm Slater & Gordon found that 45% of people believe they could be entitled to a payout over a car finance agreement taken out … [Read more...]
Manufacturers pouring money into registrations
Manufacturer and dealer incentives meant the UK’s new car market grew for the second consecutive month in June, as registrations rose 6.7% to 191,316 units, according to the Society of Motor Manufacturers and Traders. It was the best June since 2019, helping lift first half performance 3.5% above the same period last year, although the market remains -17.9% … [Read more...]
Fuel remains overpriced, says RAC and CMA
Fuel prices are staying higher than they should be say observers. RAC head of policy Simon Williams said, “Drivers will be concerned to hear that retailer margins on fuel are still above where they have been historically and that competition remains weak. "Given fuel is a major expense for households, and with eight-in-10 drivers dependent on their cars, … [Read more...]
Newslines 30 June
On line and later on-site car dealer Cazoo collapsed with over £250M of debt just over 12 months ago and owed money to about 10,000 creditors, according to data at Companies House, Cardiff. The business was sold for £5M last year after filings showed it had been under financed and overstretched itself and was hit by the Covid-crisi and a change in market … [Read more...]
Lack of home charger is barrier to buying EVs
More than half of dealers (56%) say that having no charger at home is the biggest objection they hear from customers considering an electric car. June’s Startline Used Car Tracker also shows potential buyers believe electric cars are too expensive compared to petrol or diesel (42%), that the range is too low for their needs (42%) and the battery might … [Read more...]
Wales is top for motor bike sales in UK
New analysis of Department for Transport and Driver and Vehicle Licensing Agency data has found that motorbike numbers have increased by 10.51% since 2015. It also revealed the regions that have seen the largest jump in figures, highlighting where the two-wheelers are seeing the biggest boom in popularity. The second quarter of 2024 saw more than 1.4 … [Read more...]
UK car makers may still face higher US tariffs
British luxury car makers may still be hit by higher tariffs on US sales. Last month, the UK car sector was breathing sighs of relief that it has escaped the highest American tariffs being proposed by US President Donald Trump but last week he announced that he may soon raise auto tariffs, aiming to encourage automakers to accelerate their investments in … [Read more...]
Majority of UK drivers considering Chinese cars
More than seven out of 10 motorists (72%) would “consider” buying a car made by one of the new Chinese manufacturers entering the UK market, according to new research. Startline’s June Used Car Tracker shows BYD is the brand with the highest level of recognition among these potential customers at 28%, followed by Maxus (19%) and Chery (14%). Aiways, Denza … [Read more...]
Ford lag behind industry EV targets for vans
Ford is the biggest laggard on tough government-mandated EV sales targets when it comes to the main players, new figures show. The UK’s biggest van seller showed electric light commercial sales so far this year reached 2443 units, equating to 5.4% of its 45,190 total and someway short of the 16% required by the ZEV mandate, according to figures from the … [Read more...]
FCA move in massive compensation claim
Some of the factors the Financial Conduct Authority will consider if it launches a UK-wide consumer redress scheme as part of its review into car loans commission have been set out. The regulator says it will confirm within six weeks of the outcome of the Supreme Court case, which is hoped to be announced in July, whether it does plan to introduce a redress … [Read more...]
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