NEWS
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Cost of living crisis set to impact majority of car purchases
Although the rising cost of petrol and diesel will impact the decisions of 70% of buyers, most say they will go ahead and buy with 28% opting for a cheaper car and 23% a smaller car, while 19% will delay their purchase. However, 31% say these rises will have no effect.
Used BEV demand goes through the roof as prices continue to...
Demand for BEVs continues to gather strong momentum with used BEV sales in April 68% higher year-on-year. The UK remains the only country in Europe where used prices are falling. From April to the beginning of May 2022 prices fell by a further 1.4% which are now 0.1 percentage points lower than the start of January.
LEASING & FINANCE
FCA takes a new look at AR rules
There can be no doubt that the proposals will require significantly more time, effort and cost for dealers. It will also mean that principals, as the regulator recognises, will require sufficient resources to maintain the "adequate" controls required. Indeed the FCA references the need for principals to have the necessary people, processes, technology, facilities and information and, by implication, financial backing to oversee the AR's activities and potential liabilities.
MotoNovo Finance hits new lending record in March
The sustained momentum saw a record March performance for the business’ car, LCV, motorcycles, corporate and broker channels. The result was a record month that the business’ Managing Director Karl Werner sees as encouraging for the broader motor retail community.
AFTERMARKET & WORKSHOP
VWFS announces spring deals with Service Plan discounts
At a time when the cost of living is increasing, Volkswagen Financial Services UK can announce several Service Plan discounts of up to 25% for customers who drive an eligible Volkswagen Group brand vehicle. The limited-time offer locks customers into pricing fixed at today’s rates for up to three future services, whilst also spreading the cost over 24 months – making service costs more manageable.
Bumper again named in FT’s top 25 Fintechs
In the newly published FT1000 list of Europe’s fastest growing companies, Bumper ranked 21 in the FinTech sector. This is the second consecutive year the business has been ranked in the listings.
DEALER INSIGHTS
Cost of living crisis set to impact majority of car purchases
Although the rising cost of petrol and diesel will impact the decisions of 70% of buyers, most say they will go ahead and buy with 28% opting for a cheaper car and 23% a smaller car, while 19% will delay their purchase. However, 31% say these rises will have no effect.
Used BEV demand goes through the roof as prices continue to...
Demand for BEVs continues to gather strong momentum with used BEV sales in April 68% higher year-on-year. The UK remains the only country in Europe where used prices are falling. From April to the beginning of May 2022 prices fell by a further 1.4% which are now 0.1 percentage points lower than the start of January.
JOBS
iVendi creates new vice president positions as expansion continues
changes had been made in order to strengthen the company’s leadership team and enhance service across all areas of the business. Its expansion targets, announced towards the end of 2021 are ambitious and the new promotions will help to reach its goals.
Auliar returns to Nissan GB as Sales Director
Auliar, who has worked for Nissan since 1998, returns to NMGB after seven years in Europe including, most recently, as Sales Director for Nissan Nordic Europe.
