NEWS
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Santander to launch online marketplace for dealers
Aim is to help dealers sell more cars online with a reduced marketing overhead and offer the customer a reward for each successful purchase. The onboarding programme started at the beginning September and will continue through to the end of the year.
Continuation of CBILS is key announcement from Chancellor
NFDA welcomes VAT deferral and the pay as you grow scheme which will give dealers additional time and greater flexibility for their repayments in times when businesses face a number of external challenges
LEASING & FINANCE
Finance applications surge for new 70 plate
Applications for both Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements have been markedly higher than during the same period in 2019 since showrooms reopened on June 1.
FCA Discretionary Commission, can this benefit motor finance?
Quotevine Chief Executive Daniel Layne said some concerns remain over areas of the ban, and more clarity is needed – including specific definitions around which vehicles it applies to – as well as the potential for unintended consequences such as dealers exploiting the loophole left by excluding personal contract hire (PCH) from the changes, in order to make up lost revenue.
AFTERMARKET & WORKSHOP
New tool targets potential MoT customers
Tool could have a significant impact on conversion rates. Marketing Delivery surveyed motorists across the UK and found that 60% were more likely to book aftersales work with a workshop that sends them a timely reminder ahead of a service or MOT due date.
Coronavirus changes how users interact with fleet and workshop IT
There have been a number of noticeable trends that have developed as a result of lockdown, furloughing and rapidly changing business priorities including changing how users are interacting with their fleet and workshop software.
DEALER INSIGHTS
East-West Partnerships may offer key to making transition to profitable EV...
Assuming that government subsidies will not be offered for EV vehicle manufacture (other than increasing penalties being mounted on the OEMs of ICE vehicles and the consumers buying them through increased taxes and fuel duties etc); manufacturers themselves will need to find ways of saving all or nearly all of that $12,000 per unit in the next few years.
Finance activity increases as dealers move to click and collect
In the period May 11-15th, MotoNovo's finance business activity returned to around half of pre-lock-down volumes, a positive sign to dealers seeking to establish click and collect services following recent Government advice that this option is available to them.
JOBS
New Managing Director for Yorkshire automotive group
Richard Hargraves will work closely with chief executive John Tordoff, supporting the operations board in managing the group’s 48 dealerships from Yorkshire and the North East to Derbyshire, Lincolnshire and Nottinghamshire.
Hyundai expansion continues with new dealers and senior appointment
New network development chief will focus on developing the brand’s representation across the country and will drive long term commercial improvements across the network.
