Less than half of motorists would actively seek-out face-to-face guidance from a car dealer when making their next automotive purchase, according to a new survey.
Black Horse has uncovered evidence that 22% of potential car buyers do no research at all before arriving on a dealer's forecourt.
Tim Smith, Black Horse’s head of motor finance, explains why increased scrutiny of PCPs is a direct result of their success.
The automotive finance industry must focus on generating positive messages as it endures a flurry of negative publicity and the growing attention of regulators, according to a panel of industry experts.
The UK new car market achieved a 12-year high in January, with a 2.9% uplift in registrations. Private registrations were up 5%.
Black Horse is expecting to see increased challenges in the second half of this year as the regulatory and economic climate becomes more uncertain.
Senior leadership team changes will put Tim Smith in charge of Black Horse’s whole motor finance team from the end of April, as Paul McGill prepares to retire.
The new car market returned to growth in November, after a decline in October – the first in 44 months.
New car registrations in the UK reached their highest-ever September total last month.
New car registrations saw steady growth in July, according to the latest figures from the Society of Motor Manufacturers and Traders.
Black Horse has reported 18% net lending growth since 31 December 2014 and 33% year-on-year to £8 billion driven by strong levels of new business.
UK new car registrations grew 7% in the first half of 2015 to the highest half-year total on record.
Black Horse managing director Chris Sutton is to retire from the motor finance provider this summer.
Nearly half a million new cars were registered in the UK during the crucial March 2015 plate-change month.
