The probe into historic motor finance practices by some car loan providers could cost the industry £30 billion, according to ratings agency Moody's.
Shares in Close Brothers have taken a sharp hit in the wake of a landmark ruling by the Court of Appeal, which determined that motor finance brokers must provide full disclosure on commissions when arranging car loans.
Close Brothers Motor Finance (CBMF) has promoted John Cassidy to the position of managing director - sales.
Recent developments in government policy are raising concerns that could stall the momentum of the transition to electric vehicles, writes Fraser Brown of automotive consultancy MotorVise.
Drivers of electric cars should be braced for higher ownership costs as several key incentives that have fuelled the rise in EV ownership are slated to expire next year.
A fifth of car dealers admit to not using market data on which to base their stock decisions.
Price continues to be the obvious driving factor behind purchase consideration for UK car customers, according to new research.
More than two thirds (68%) of dealers are finding it challenging to source the right stock at an affordable price
Close Brothers Motor Finance is linking up with fintech Zuto’s marketplace to extend access to its products and digitising the customer journey.
New research has found that almost a third (30%) of motorists feel that the delay to the new petrol and diesel vehicle ban will allow for more time for an expansion in electric vehicle infrastructure .
Sales of new electric cars held their own during the traditionally slow month of February
UK car production got off to a fast start in January, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).
Lloyds Banking Group has allocated £450 million to cover potential expenses related to regulatory investigations into historic motor finance commission deals.
Motor dealers are still looking to invest in their forecourts this year despite economic uncertainty, rising costs and business challenges
Close Brothers Premium Finance has signed a new five-year contract with Brown & Brown’s UK network business Hedron Network.
Close Brothers Premium Finance (CBPF) has signed an exclusive deal with broker The Green Insurer
The looming cost-of-living crisis has emerged as the most significant hurdle that dealers will have to grapple with next year, according to Close Brothers Motor Finance.
The UK new car market enjoyed its best November for four years with registrations staging a near return to pre-pandemic levels
The UK Chancellor has moved to boost advanced automotive manufacturing and industry apprenticeships as part of the UK’s latest budget review.
This week’s Government’s Autumn Statement could prove a pivotal point for UK motor retail businesses and their customers, according to the NFDA.
