The role of the car dealership’s business manager is evolving – and digitalisation is playing its part in that change.
Car dealerships are facing a double whammy of rising overheads and diminishing consumer finances after the Bank of England (BoE) further increased interest rates this month to 1%.
AM-online examines the impact of technology and e-commerce on the traditional in-showroom process of providing point of sale motor finance
It’s just over two years since the UK first went into lockdown and it’s safe to say we’re all continuing to feel the impacts of the pandemic.
As Q1 draws to a close with what is likely to be a quieter than normal March plate change month, AM took a look at the new car finance offers being served up by some of the sector’s leading brands.
The future of franchised retailers’ motor finance FCA ruling on discretionary commissions has lead to greater transparency, but few dealers are reporting any noticeable variation to income as a result.
Independent used car dealerships and supermarkets have been best positioned to adapt to the Financial Conduct Authority (FCA) rule banning discretionary commission models that was brought into force last January.
With December’s publication of the Financial Conduct Authority’s (FCA) second consultation on its new all-encompassing Consumer Duty protocols and the automotive retail sector now subject to commission disclosure regulations, motor finance has once again been reassessing how it operates.
As car retail sector experts predict that subscriptions could take over from PCPs as the most popular way to fund a private vehicle, AM compared Q4's offers to see how they compare.
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.
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
How close is the industry to a fully-functioning online buying process? These keys may help speed it along.
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
Leading insurance add-on companies aren’t blinking as the FCA takes increased interest
