Ministers are drafting plans to subsidise electric vehicle (EV) purchases by guaranteeing consumer loans in a bid to accelerate sales that remain below official targets, according to the Financial Times.
Fraudsters who removed the equivalent of four round trips to the moon in mileage from vehicle odometers have been sentenced following a major investigation by Kent Trading Standards.
Volkswagen Group has come under scrutiny after a significant data leak reportedly exposed sensitive customer information online for several months.
The DfT has today launched a consultation asking for industry views on the Government's restoration of the 2030 petrol and diesel new car ban. Elements include gathering views on which full hybrid and plug-in hybrids could be sold still alongside zero emission vehicles, and what approach should be taken for vans and low volume OEMs.
The Financial Conduct Authority (FCA) has announced an extension for firms to respond to complaints about motor finance agreements that do not involve discretionary commission arrangements (DCAs).
FCA chief executive Nikhil Rathi joined Martin Lewis’ Money Show to address shortcomings about the regulator, as well complaints against lenders.
The financial crisis brewing in the UK’s motor finance sector could rival the infamous £50 billion Payment Protection Insurance (PPI) consumer scandal, the Financial Conduct Authority's (FCA) top legal chief has conceded.
Is the UK Government's strategy for electric car adoption a special case or a basket case for consumers, wonders Professor Jim Saker, regular Automotive Management contributor and president of the Institute of the Motor Industry.
The motor retail industry is being urged to have its say on a proposal from the Financial Conduct Authority to let dealerships and finance providers delay their responses to consumer complaints about motor finance commission.
Direct warnings to the UK Government about the feasibility of ZEV Mandate targets without more work to get motorists into electric cars appear to have fallen on deaf ears.
The used EV market is showing signs of decline, according to recent data from Marketcheck, with sales slipping while petrol vehicle sales achieved a yearly peak.
The move by the Treasury to sound out how best to deal with mass compensation claims has been welcomed as a positive step although immediate certainty is critical for car loan providers, according to motor retail tech business iVendi.
The UK financial watchdog plans to consult on extending the time motor finance firms have to respond to consumer complaints involving non-discretionary commissions
The motor finance industry is urgently calling for a pause on regulatory action and court cases over motor finance commission.
Clear, upfront disclosure of commission to ensure informed consent will be critical for providers of motor finance following last week’s shock Court of Appeal decision which saw several major industry names suspend lending in order to take stock of the implications of the ruling.
Shares in Close Brothers have taken a sharp hit in the wake of a landmark ruling by the Court of Appeal, which determined that motor finance brokers must provide full disclosure on commissions when arranging car loans.
Cybercrime is an ever-evolving threat for every business, and the automotive industry is not immune, according to Gary Higham, Zuto's chief technology officer.
Robin Brundle's Recyclus Group is the UK’s first industrial-scale recycler of lithium-ion batteries, dedicated to developing a stable supply chain for battery metals.
Volkswagen Finance has been slapped with a £5.4 million fine by the Financial Conduct Authority (FCA) for failing to treat customers in financial distress fairly.
The Government is launching a national awareness campaign, 'Fake Always Breaks' about the dangers of buying counterfeit car parts, including wheels, airbags and brakes that can leave cars unsafe.
The Financial Conduct Authority (FCA) is undertaking a comprehensive market study into the insurance sector, focusing on the fairness of premium finance products used for motor insurance.
Transport Secretary Louise Haigh said the UK Government "wants to make EVs as affordable as possible" and it sees big fleet deals as an advantage in bringing more low priced used EVs into the market for private motorists.
The Financial Conduct Authority (FCA) has fined TSB Bank £10.9 million for failing to ensure fair treatment of customers who were in arrears.
The Government's aims for zero carbon motoring will need to do more to convince a general public which is happy to be greener if it doesn't cost them more money or time, notes AM's regular columnist Professor Jim Saker, president of the Institute of the Motor Industry.
Dealerships risk a halt to their car loans provision in 2025 if they've not put staff through the Specialist Automotive Finance accreditation programme, warns Lisa Watson, sales director at Close Brothers Motor Finance.
