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...]
How to save yourself £3,000 on your car this summer
The average price of a car in the UK is now £27,425 which in comparison to the median annual salary in the UK £31,602 is nearly an entire year's worth of pay. That’s why it’s more important than ever to look after your car to ensure you don’t have any added costs to an already expensive thing. Experts at car cleaning retailer, 1dot, have shared their … [Read more...]
Buyers beware of used car “bargains”, say Vertu
Thousands of drivers are looking to the used car market for their next vehicle in a bid to save money. This huge demand is reflected in new search data, which shows that searches for ‘used car dealer near me’ have surged by a massive 235% in just three months. But while finding a local dealer is the first step, walking onto the forecourt … [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...]
Act on advisories before it’s too late says RAC
One-in-six drivers (17%) who didn’t act on advisory notices following an MOT in the last 12 months – an estimated 6m people – went on to experience a vehicle breakdown or were involved in a collision as a result, according to new RAC research. Of the 1,460 drivers who have had their vehicle recently MOT’d, 44% said the test resulted in one or more advisory … [Read more...]
Sinclair Group expand reach of JLR in South Wales
Sinclair Group, Wales’ largest motor retailer, is further expanding and strengthening its association with Jaguar Land Rover with the acquisition of two more sites. The Group has extended its reach across all of South Wales after completing the purchase of the Stratstone Jaguar Land Rover businesses in Cardiff and Newport from Lithia UK. The deal increases … [Read more...]
Price war looming, says FleetCheck
A round of dramatic price cuts by Chinese manufacturers in their domestic market last weekend has raised the possibility of a similar strategy being adopted in the UK, says FleetCheck. The Financial Times is reporting that BYD has “fired a new salvo in a prolonged price war” by reducing prices of 20 different models by up to 34% with other manufacturers … [Read more...]
Rogue Welsh car dealer jailed
A rogue car dealer has been jailed for four years after he made a staggering £300,000 selling cars that had previously been written off. Zana Ahmed Muhammed ran an illegal operation selling insurance write offs out of a base at The Old Ambulance Station, Flint. The 42-year-old used Facebook Marketplace and eBay to advertise the illicit motors and but … [Read more...]
Minimum wage rise drives down dealer profits
More than half of dealers (52%) say the higher minimum wage introduced in April is having the biggest single effect on their profitability this year, new research shows. Other factors hitting margins mentioned in May’s Startline Used Car Tracker include more expensive stock (45%), premises costs (41%) and increased employer national insurance contributions … [Read more...]
FRF Toyota Wales is Britain’s best for the brand
Top accolades in the annual Toyota Best Retailer in Town awards have been won by FRF Group, named the Best Toyota Group for the second year running, and Steven Eagell Peterborough, winner of the Best Toyota Retailer title. With a 20-year history, FRF won the Best Toyota Group award for its focus on engaging and developing its teams to provide service that … [Read more...]
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