The Financial Conduct Authority (FCA) has confirmed it will introduce a ban on motor finance discretionary commission models. The announcement followed a consultation in October 2019. “In the light of consultation feedback and the additional operational pressures which the sector is facing at present the FCA has agreed to give firms limited additional time to implement the new rules, with the ban coming into force on 28 January 2021”, FCA said.
The government’s decision to include car showrooms in its first wave of of retail reopenings on 1 June has been welcomed by dealers. Sue Robinson, director of the National Franchised Dealers Association stated: “Following our lobbying efforts where we highlighted it was vital to include dealerships in the first wave of non-essential retail reopening, it is positive that the Prime Minister has confirmed the Government intends to reopen car showrooms from 1 June.
Extinction Rebellion has issued a threat against car dealers, car manufacturers and car firms in Bristol and London today (Friday 1 May). The Society of Motor Manufacturers and Traders (SMMT) has seen a leaked document issuing the threat, with London and Bristol being named as targets. It is unclear what the threat involves, but at a low level will simply be campaigning outside car dealers. The worry is that expensive vehicles may get damaged. Although only London and Bristol were named specifically, it is thought that other luxury car brands may be targeted nationwide, although no detail of this was released.
This NFDA Dealer Attitude Survey summer 2019 was conducted in July 2019 and asked franchised dealers 53 questions about their on-going relationship with their respective manufacturers. The questions covered a range of business issues and the impact on dealers’ satisfaction levels with their manufacturers’ relationship. Responses are scored from 1 (extremely dissatisfied) to 10 (extremely satisfied). NFDA surveyed 30 franchise networks and received 2,077 responses from dealers, equating to a record 50 per cent response rate.
The brands offering the biggest and smallest new car discounts have been revealed in market intelligence from consumer champion What Car?’s New Car Buying platform. Citroën topped the table, while Dacia offered buyers the lowest price reductions in the first six months of 2019.
A new study has found that almost nine in 10 car dealership owners have bugbears when it comes to the car buying process, with buyers wanting more for their part-ex vehicles, finance agreements being too complicated and online conversations being very stop-start being the top issues that they face.
UK franchised dealers are more positive about their relationship with vehicle manufacturers, the latest NFDA Dealer Attitude Survey has shown. “It is encouraging to see that the overall relationship between franchised car dealers and manufacturers recorded an average score of 5.7 in the NFDA Dealer Attitude Survey Summer 2018, which is 0.4 higher than six months ago”, said Sue Robinson, Director of the National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle retailers in the UK, commenting on the results of the NFDA Dealer Attitude Survey Summer 2018, published at the beginning of September 2018.
Dealerships are being advised to create EV champions in their dealerships to take advantage of the growing demand for electric vehicles. According to Gain Solutions, who have been at the forefront in the development of electric vehicles, dealerships need to invest in specialist EV training for their sales and technical teams.
The latest NFDA Dealer Attitude Survey has revealed that the relationship between car manufacturers and franchised dealers has deteriorated. The NFDA surveyed 29 franchised networks and received 1,893 responses from dealers, equating to a 47 per cent response rate, the highest since the inception of the survey in 1989.
The average UK dealership is failing to replace 66 per cent of severely worn tyres, according to data collated by autoVHC.
The electronic vehicle health check provider suggests that an average dealership sold replacement tyres on only 34 per cent of the occasions when either severely worn or faulty tyres were identified during services carried out in July 2017.
The National Franchised Dealers Association Winter 2017 survey had 1,704 respondents from a total of 29 participating franchise networks, which equates to a response rate of 41 per cent. The all-important question asking dealers ‘how would they rate their manufacturers overall’, saw a slight decline compared with last summer’s survey (6.1 vs 6.2), but it stands at the same level as the winter 2016 survey.
New vehicles registered for the first time with the Driver and Vehicle Licensing Agency (DVLA) from 1 April 2017 will pay new first year licence rates based on carbon dioxide (CO2) emissions bands which are different from the ones currently in use. In some cases, these fees will almost double.
Exclusive findings from Close Brothers Motor Finance’s Dealer Satisfaction Survey reveal the majority (63 per cent) are positive about their business prospects for 2017. The Dealer Satisfaction Survey is a continual telephone survey undertaken by Close Brothers Motor Finance and reported on a monthly and quarterly basis. The survey questions 750 new and used car, motorcycle and light commercial vehicle dealerships across the UK to help provide a picture of dealer trends and help Close Brothers Motor Finance improve their service.
An investigation into the pre-registering of cars by the BBC Radio 4 consumer programme ‘You and Yours’, suggests that up to a fifth of new cars in the UK are estimated to be “pre-registered” to dealers – potentially skewing sales figures and leaving drivers confused.
Finance deals are key to the new car market with dealers reporting a high level of satisfaction with their manufacturers’ finance schemes”, said Sue Robinson, Director of the National Franchised Dealers Association, commenting on the recent results of the NFDA Summer 2016 Dealer Attitude Survey.