Car dealers are having to battle increased levels of fraud and attempted fraud to go with a number of other challenges currently facing the motor trade. That is according to the latest Forecourt Foresight report from Close Brothers Motor Finance which found that one in five automotive retailers have fallen victim to fraud and a further 31% of dealers have … [Read more...]
Statement gives some motorists relief
Motorists can get some relief from today's Spring Statement by the Chancellor. John Cassidy, Director of Sales at Close Brothers Motor Finance said, “The Chancellor reconfirming her pledge to extend the freeze of fuel duty, as well as the temporary five pence cut, until March 2026, will offer a glimmer of relief to motorists concerned about the soaring cost … [Read more...]
Newslines 11 October
Barry Island is seeing a proper tidy rise in customers as new trains and the return of some old favourites give the area a welcome boost. More than 100,000 people caught the train to the Island in July and August, a huge rise from 57,000 the previous year and some of that's put down to filming the final Christmas special of Gavin and Stacey comedy … [Read more...]
More time needed for EV infrastructure network
In a sector under pressure to be at the forefront of the green transition, more time is what it’ll take to get us there, say drivers. Research by Close Brothers Motor Finance found that almost a third (30%) of British motorists feel that the delay to the new petrol and diesel vehicle ban will allow for more time for an expansion in electric vehicle … [Read more...]
One-in-ten car buyers victims of fraud
Some 10% of Brits have been the victim of fraud when buying a car, according to the latest ‘The Road Ahead’ research from Close Brothers Motor Finance. With the growth and evolution of the motor industry and its market, changes to the car buying experience over time have provided consumers with more choice, but also presented scammers with more … [Read more...]
Tradelines 30 November
The excessive margins being taken on fuel by the UK’s four big supermarkets have been further called into question as the RAC discovered membership-only retailer Costco has reacted to the falling wholesale market by cutting its petrol by 8p a litre to 147.7p– 12p less than the average price of a litre bought at a supermarket and 14p lower than the UK … [Read more...]
After the hard winter, more chilling news to come
A massive hike in fuel duties is on the cards next spring after a particularly tough winter of rising costs, said the RAC. RAC head of roads policy Nicholas Lyes said, “As things stand, drivers will face an enormous hike in the cost of fuel next Spring due to fuel duty going up. “The Office of Budget Responsibility expects to see 12p added to a litre of … [Read more...]
Dealers and makers’ reputations bashed by delays
Car manufacturers and dealers are suffering reputational damage as a result of unavoidable supply chain disruption, according to research from Close Brothers Motor Finance. While two-thirds (66%) of consumers considering a new car say they understand the difficulties involved, nearly half (48%) say the delays negatively impact their perception of motor … [Read more...]
Tradelines 31 August
Nearly half of motorists planning to buy a car in the next year would be prepared to pay more to skip waiting lists caused by supply chain problems, according to research from Close Brothers Motor Finance. It follows a fifth consecutive month of decline in registrations in August, which the Society of Motor Manufacturers and Traders attributes to ongoing … [Read more...]
Car production improves but issues remain
Though the outlook is beginning to look more positive as production levels rise for the third month in a row and the industry shows signs of recovery, persistent issues will continue to cause turbulence in the coming months, said Lisa Watson, Director of Sales at Close Brothers Motor Finance. “The ongoing conflict in Ukraine means the well-documented … [Read more...]
