FCA looks to ban car dealers’ discretionary finance commission
The Financial Conduct Authority (FCA) has opened a consultation in a bid to ban car retailers’ discretionary finance commission model – saving UK car buyers an estimated £165 million a year.
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Renault and Citroen plan network shake-ups
Renault insists it will keep dealer numbers in ‘hub and spoke’ restructure as Citroën predicts market slump of up to 25% will lead to multi-franchise sites
SsangYong Motors UK creates ‘new type of retail offering’ inside M25
SsangYong Motors UK has said that it is “creating a new type of retail offering” to take its products to potential customers inside the M25, where it is currently under-represented by franchisees.
Dealers will disclose commission under new FCA motor finance plan
The Financial Conduct Authority has considered whether to force car dealers to tell their customers about the way they earn commission from selling motor finance and the amounts they earn.
Keith Brock leaves Wessex Garages, Chris Wiseman is new MD
Keith Brock announced today that he is leaving Wessex Garages after 24 years with the franchised dealer group. Its new managing director is Chris Wiseman.
Car retail groups scaled Sunday Times Top Track 250 rankings
The Trade Centre Group was among the big winners as car retailer operations scaled the latest Sunday Times Top Track to 250 - rising 66-places to 90th.
Sturgess Motor Group sells Volvo Leicester dealership amid 2018 losses
Sturgess Motor Group has completed the sale of its Volvo Car UK franchise in Leicester to TMS Motor Group after revealing a pre-tax loss of £1.26 million in its 2018 annual financial results.
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