Motorists hoping for big payouts for financial mis-selling by major car makers' associated arms look like losing out after all. Media reports this week indicated the Financial Conduct Authority has come down on the side of the car makers' finance providers and big banks to reject payments to customers. Under the plan said to be going through final stages … [Read more...]
Cybercrime increasing threat to dealers
Specific weaknesses place the remarketing sector under increased threat from cybercrime, Vehicle Remarketing Association members heard at their first meeting of 2026. Mark Rodbert, CEO at idax Software, explained that rapid staff turnover in environments such as dealerships made it challenging to create a cybersecurity-aware culture, while the large amount … [Read more...]
Banks tardiness threatens coronavirus recovery
The Government must make lenders move faster to access the special loan scheme or businesses will fail, says the FTA. On 2 April, Chancellor Rishi Sunak MP announced changes to the government’s Corona Business Interruption Loan Scheme, vowing to take “all action necessary” to make sure government backed loans were benefitting businesses as planned. But … [Read more...]
British car makers’ tough challenges after Brexit
The automotive sector is unlikely to get any special treatment from Europe after Brexit. Chancellor Angela Merkel says the car industry as vulnerable to any British attempt to strike market-access deals ahead of the UK's exit from the European Union. In a closed-door meeting with German lawmakers, Merkel said some industries might press for such … [Read more...]
