Although many car dealers are forecasting recession busting numbers in terms of point of sale finance penetration, others are saying that the lack of choice and flexibility from lenders is hampering growth and hitting profitability. Customers who were a fairly safe bet for competitive finance rates last year are now considered a much higher risk … [Read more...]
Motor finance sales show first increase in more than a year
October 14, 2009 By Leave a Comment
Sales of new cars bought by consumers using dealer finance have grown for the first time since July 2008, according to figures published today by the Finance & Leasing Association (FLA). In August, the number of new cars sold with dealer finance to consumers increased by 4% compared with the same month last year. While this is welcome, a … [Read more...]
Decline in dealer finance eases up in July
September 14, 2009 By Leave a Comment
With volumes still lower than last year it would appear that the scrappage scheme is having little impact on dealer finance sales, although the decline has been arrested somewhat in July, according to the latest figures from the Finance & Leasing Association (FLA). … [Read more...]
Finance & Leasing Association seeks government help
August 10, 2009 By Leave a Comment
Latest figures released by the Finance & Leasing Association (FLA) show the smallest drop in private new and used cars bought with dealer finance since September 2008.The number of cars bought by consumers using finance obtained through dealerships in June fell by 6% compared with the same month a year earlier. But the FLA warns that more financial … [Read more...]
Finance refusals hurting recovery
July 15, 2009 By Leave a Comment
The much publicised decline in new car registrations has meant that new or used cars being bought through dealer finance have declined accordingly. Although there is divided opinion from many … [Read more...]
FLA reveal dealer finance is still the most popular way to buy a car
July 13, 2009 By Leave a Comment
Forecourt finance remains the most popular way to buy a car. Over half (52.9%) of motorists used motor finance from dealers to buy their new cars in the last year. This is almost 3 percentage points up on the year before. Figures in May showed the smallest drop in the number of new cars bought by consumers on dealer finance since September 2008. … [Read more...]
Dealer finance still most popular but figures drop
June 22, 2009 By Leave a Comment
The Finance and Leasing Association’s latest statistics show that the recent slowdown in new motor finance business has continued. Consumers purchased 32% fewer new cars with dealer finance through car showrooms in April 2009 compared with April 2008. In the first four months of 2009, the volume of sales was down by 28% compared to the same … [Read more...]
Ford and Honda end scrappage “dispute”
May 19, 2009 By 3 Comments
The dispute between carmakers and the government over the UK car scrappage scheme has now been resolved. Ford and Honda had delayed the start of their involvement on Monday. Both had expressed concerns about VAT arrangements and tax liabilities. … [Read more...]
Nissan, Land Rover and VW win EU loans
April 8, 2009 By Leave a Comment
Nissan, Land Rover and Volkswagen will receive 866 million euros ($1.2 billion) worth of loans to develop cleaner cars, the European Investment Bank said Wednesday. The money is part of a 7 billion euro lending package to the ailing European automotive industry that the bank expects to lend in the first half of this year. It has already … [Read more...]
RMIF talking to Government about the “Car Dealers Bank”
March 17, 2009 By Leave a Comment
The RMIF has talked to a Treasury minister about its plans to form a car dealer bank in partnership with an existing financial institution. Paul Williams, RMIF chairman, has told Angela Eagle, exchequer secretary to the Treasury, that his members want to have some control over funds available to lend to car buyers. … [Read more...]
Car dealers and customer service – are the lessons being learnt?
January 30, 2009 By Leave a Comment
Following a recent survey by Which? it appears that although there have been vast improvements in the sales process resulting in a much better experience for customers in after-sales, some dealers still aren’t getting … [Read more...]
Accountants predict the worst but what’s really happening?
January 19, 2009 By Leave a Comment
PricewaterhouseCoopers forecasts tough year ahead for car industry. Although there is obviously a lot of reality to this story in global terms, our information is that there happens to be a fair bit of good news as well. This could, of course be confined … [Read more...]
Mitsubishi leads the way into the brave new world
January 6, 2009 By Leave a Comment
The “brave new world” of franchised dealerships we have been describing, where manufacturers start to reign in the demands they make of their dealers in order to achieve and maintain mutual profitability, appears to be starting sooner than we thought. Mitsubishi has announced that is to assist its dealer network with new cost cutting … [Read more...]
Personal Contract Plans can bring peace of mind
December 30, 2008 By Leave a Comment
In order to protect against the growing threat of negative equity at least there are packages in the world of car sales which can offer peace of mind. Personal Contract Plans (PCPs) are naturally growing more popular and over … [Read more...]
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