Compliance & risk management - Page 5
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DVLA findings highlight mixed views on classic car EV conversions
Current guidelines for converting classic cars to electric are overly restrictive making it difficult for owners to retain a vehicle’s original identity and registration, according to responses to the long-awaited DVLA call for evidence focusing on the future of the classic car industry.
Supreme Court grants appeal in car finance commission case, expedited hearing set
The Supreme Court has granted permission for two car lenders to appeal a landmark ruling on motor finance commission payments that has raised concerns over a potential £30 billion compensation bill.
Car loan crisis could rival £50bn PPI scandal, FCA chief warns
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.
Executive View: Is this the experience we want for EV and PHEV beginners?
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.
NI hikes will only deepen challenges for rental and leasing sector, warns BVRLA
The vehicle rental and leasing industry faces a turbulent 2025, with escalating employer National Insurance contributions (NIC) at the forefront of mounting concerns, according to the BVRLA’s Industry Outlook Report.
EV transition needs policy overhaul amid struggles to compete with China
A leading expert on automotive economics is calling for a comprehensive overhaul of UK policy, including incentives, infrastructure development and a clear industrial strategy to address domestic production woes and accelerate the EV transition.
MP Clive Jones visits Select Car Leasing to discuss EV transition strategies
Liberal Democrat MP for Wokingham Clive Jones heard firsthand about the significant discrepancies in the cost of home versus public charging and the need for additional government support to entice motorists to go green when he visited Select’s HQ in Reading.
Financial Conduct Authority to consult on extra extension for car loans complaints
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.
Auxillias launches motor finance hub to navigate regulatory changes
Legal and compliance specialist Auxillias has launched the Motor Finance Hub, a comprehensive online resource designed to support motor finance professionals grappling with evolving regulatory requirements.
Certainty essential for motor finance sector amid new Treasury consultation, says iVendi
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.
Lenders upgrading tech to meet court mandate on commission disclosure, says iVendi
Lenders are ramping up their technology solutions to provide timely, transparent commission disclosures to customers following the recent Court of Appeal ruling on motor finance, iVendi reports.
Northern Ireland’s dealerships urge swifter action over dire state of MOT testing
Northern Ireland’s largest car retailers are calling on the region’s authorities to accelerate their efforts to reverse the MOT backlog which they say is impacting public and business confidence amid concerns about road safety.
October saw new car sales at risk in wake of court ruling on commission disclosure and consent
Manufacturers struggled to hit October new car sales as they scrambled to comply with the recent Court of Appeal ruling on the duty of car finance providers to disclose detailed commission arrangements and secure clear consent from the car buyer, according to industry insiders.