In this latest '5 Minutes With' interview, I ask Alphera Financial Services director Alex Royall about some of the work UK motor retail is doing ahead of changing FCA regulation, including affordability checking when a consumer wants to buy a car.
The Financial Conduct Authority (FCA) has warned there will be "swift action" for those that ignore its new Consumer Duty standards.
The Office for Zero Emission Vehicles (OZEV) has increased the end-user limit for plug-in van grant applications by 50%, from 1,000 to 1,500 per financial year.
Mike Todd, chief executive of Volkswagen Financial Services UK, shares his thoughts about the Financial Conduct Authority's new Consumer Duty regime which begins on July 31.
Law firm Walker Morris has appointed Russell Kelsall as a partner and head of consumer and motor finance in its regulatory team.
An April 30 deadline for motor finance providers to issue product reviews to their retail partners will put car dealers on a “compressed timeline” to deliver compliance with the Financial Conduct Authority’s new Consumer Duty regulations.
Auto Trader has called for incentives and tax breaks to make electric vehicles (EV) more affordable and put the UK Government’s plan to ban pure petrol and diesel vehicles by 2030 “back on track”.
Members of the Vehicle Remarketing Association (VRA) will gain insight from the Office for Zero Emission Vehicles (OZEV) head of vehicle policy at a meeting later this month.
Thoughts about the risk of distress sales caused by governments that set short-sighted and disruptive targets to rapidly shift consumer habits from AM's regular columnist Professor Jim Saker, director of the Centre for Automotive Management at Loughborough University's business school and president of the Institute of the Motor Industry.
Stellantis and Ford remain bullish about their electrified future despite the UK Government’s threat of £15,000 per car fines for OEMs who breach its proposed electric vehicle (EV) sales mandate.
In his latest 'guest opinion' column for AM Fraser Brown, managing director of the automotive consultancy MotorVise, spells out why the 'road to zero' must remain a one-way street.
The Government has pledged to stick to its plan to ban the sale of new petrol and diesel cars from 2030 as it revealed its Powering Up Britain strategy to transform the UK’s energy infrastructure.
Seven in 10 car dealers say that not enough is being done to support the transition of electric vehicles (EVs) and half of those believe the Government is to blame.
The Financial Conduct Authority (FCA) has made Therese Chambers and Steve Smart its joint executive directors of enforcement and market oversight.
Car retailers have been told “there is no silver bullet” in the fight to avoid potentially devastating data-grabbing cyberattacks as high-profile AM100 businesses continue to recover from hits on their digital systems.
The Chancellor of the Exchequer Jeremy Hunt has frozen fuel duty, boosted repairs to pothole damaged roads and targeted solutions to recruitment issues in his Budget statement.
A new Compliance Forum, centred around three half-day events, is hoped to help BVRLA members improve their understanding of the ongoing "period of remarkable regulatory realignment" and the future of motor finance.
More than half of motorists support calls for a cut in fuel duty in next week’s budget, according to the Startline Used Car Tracker.
The National Franchised Dealers Association (NFDA) has submitted evidence on the fast-changing automotive sector to the Department for Business and Trade’s (DBT) amid concerns new Block Exemption rules may “leave too much unsaid”.
The UK Government has asserted that its new Windsor Framework to refine post-Brexit arrangements for Northern Ireland will “protect” the country’s second-hand car market.
Society of Motor Manufacturers and Traders (SMMT) chief executive Mike Hawes has admitted that the UK car manufacturing sector needs a new "pitch” to remain competitive with global rivals.
When the initial consultation for Consumer Duty was announced in May 2021 by the Financial Conduct Authority (FCA), it divided opinion.
Failure to have appropriate processes to properly check affordability has left sub-prime firm Amigo Loans publicly censured by the FCA instead of a £72.9m fine.
Dealers must compile ‘accurate and timely’ management information (MI) in order to comply with the FCA’s new Consumer Duty responsibilities.
Alarm raised by the Financial Conduct Authority that some firms are behind in their planning with just six months until Consumer Duty rules comes into effect.
