Volkswagen Financial Services UK chief executive, Mike Todd, reflects on the sector's rapid evolution and offers insight about what's needed to adapt to the road ahead.
Discounts on new car retail offers have dropped slightly by 1.9% quarter-on-quarter to £1,672 on average in Q4, according to the latest AM data.
The consequences of the global pandemic have been profound. Like many other sectors, large swathes of the automotive industry had to scale back or even stop production in the early stages of COVID-19, with a gradual reopening as restrictions eased during 2020.
Motor finance companies and car dealers have borne the brunt of the COVID-19 pandemic, but how well have they overcome the challenge of motorists' 1.8 million requests for finance forbearance.
Lenders and finance platform providers report increased online vehicle financing activity, albeit mixed with dealership interaction, although the trend is far more pronounced in used than new.
Six months on from the introduction of new Financial Conduct Authority (FCA) regulations, automotive retailers should be starting to see an impact on average commission levels as they adapt to a new way of working.
Bumper chief commercial officer Jack Allman speaks to AM editor Tim Rose about the aftersales finance provider's plans for 2021.
The benefits of an agency-style model, where the new car journey is managed online and manufacturers pay a handling fee to retailers, largely outweighs the disadvantages, according to senior executives at dealer groups already experiencing mixed commissions at work in their businesses.
Small regional dealerships should collaborate with others and trade bodies to ensure their opinions are listened to by local and national government
Vanarama founder and chief executive Andy Alderson tells AM the sponsor of football's National League expects fourfold growth in vehicle leasing with home delivery
Volkswagen Financial Services (VWFS) chief executive, Mike Todd, predicts that - aside from the impact of Brexit - three other key areas will continue to influence the automotive sector’s response post COVID-19.
Coronavirus has driven an uplift in motor finance digital applications this year, but 2021 looks set to bring further effects for dealerships regulated by the Financial Conduct Authority (FCA). Here AM examines three key impacts.
In early 2021 the Financial Conduct Authority's ban on discretionary commission in motor finance will kick in. AM examines the impact on motor retailers.
The Financial Conduct Authority is keen for motor retailers providing consumer credit to be upfront about earning finance commission
Drover chief executive speaks to Automotive Management (AM) about the growth potential of car subscription services following COVID-19 and why it needs to forge relationships with more car retailers to satisfy demand.
How close is the industry to a fully-functioning online buying process? These keys may help speed it along.
Training for the EV boom, ADAS issues and FCA review topped the agenda at this year’s event
Two new laws due to enter force in April will give employees’ new rights
The FCA replaced its ‘authorised person’ credit compliance system for car dealers with the Senior Managers & Certification Regime (SMCR) on December 9
Financial Conduct Authority says proposed rules on commission disclosure are designed to give buyers more clarity
A ban on interest-linked commissions will level the playing field, says Financial Conduct Authority
Hi-tech entrants, new alliances and products, ongoing regulatory changes and old supply woes will make for an interesting 12 months
As technology becomes more sophisticated, the quality of enquiry follow-ups needs to improve in tandem
Leading insurance add-on companies aren’t blinking as the FCA takes increased interest
Delegates at the AM100 round table discussed FCA compliance, online sales and CI demands
