Dealers’ awareness of new Consumer Duty regulations has increased from 28% to 91% over the last quarter, according to Close Brothers Motor Finance.
Finance penetration rates for new and used car funding is slowing, but increasing APRs are having limited impact on engagement according to new research from Auto Trader.
Letting customers self-serve their motor finance needs is proving the most effective route to Consumer Duty compliance, iVendi is reporting.
AM's latest industry special digital report, Running A Modern Dealership, has now been published. Industry experts, prominent suppliers and franchised dealers have shared their insights into the major aspects required in running a modern dealership, including used car retailing, EV sales, finance and insurance, omnichannel customer experience and aftersales efficiency.
The Financial Conduct Authority (FCA) has found motor insurers need to improve how they treat vulnerable customers and handle claims, and end paying out low for write-offs
Alphera Financial Services is providing free training videos and documents to help prepare for the FCA’s Consumer Duty regulations on July 31.
Motor finance deposits and payments have stayed “remarkably consistent” over the last 12 months despite ongoing interest rate pressures, says iVendi.
Auto Trader's Retail Price Index has shown that the average retail value of used cars has increased by 3.5% compared to last year's levels, which were already 24% higher than in 2021.
Volkswagen has launched a 0% finance campaign for its ID.4, ID.5 and the outgoing ID.3 from now until October 2.
Ivendi is launching a new product range this week designed to act as a “single point solution” to dealer Consumer Duty compliance.
Nearly two-thirds (59%) of young drivers (18–34 year olds) are considering flexible car ownership models, according to new research from Churchill Expert.
Ivendi has taken the experience of 8,000 retailers, manufacturers and finance partners to create a free step-by-step guide to the new Consumer Duty regulations.
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.
Nearly 60% of automotive retailers are urging more support from motor finance providers to retail electric vehicles (EVs).
The Financial Conduct Authority (FCA) has warned there will be "swift action" for those that ignore its new Consumer Duty standards.
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.
The presence of a powerful and active regulator in the marketplace, the Financial Conduct Authority, means there has never been the attention given to the critical driver of new and used car markets, point of sale finance and insurance.
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.
The Finance and Leasing Association has predicted a 6% decline in car finance during 2023 after new business volumes declined 5% in February.
