The Financial Conduct Authority (FCA) has announced an extension for firms to respond to complaints about motor finance agreements that do not involve discretionary commission arrangements (DCAs).
The probe into historic motor finance practices by some car loan providers could cost the industry £30 billion, according to ratings agency Moody's.
The Historic and Classic Vehicles Alliance has welcomed an independent review of the Driver and Vehicle Licensing Agency (DVLA) which could finally resolve longstanding frustrations over converting classic cars to electric.
Close Brothers resumes new lending after landmark court of appeal ruling
Manufacturers struggled to hit October new car sales as they scrambled to comply with the recent Court of Appeal ruling on the duty of car finance providers to disclose detailed commission arrangements and secure clear consent from the car buyer, according to industry insiders.
New data from the RAC reveals that 20% of UK drivers under 44 have cut costs by skipping legally required MOTs or delaying tyre replacements, raising significant safety concerns.
Dealer tech provider Mad Devs has swiftly updated its iStoreDOCS platform to support dealer compliance in response to a recent Court of Appeal ruling on finance commissions.
The Financial Conduct Authority (FCA) is undertaking a comprehensive market study into the insurance sector, focusing on the fairness of premium finance products used for motor insurance.
Most motorists are sceptical about whether the ambitious deadline to phase out Internal Combustion Engine (ICE) vehicles by 2035 will be met.
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.
Many insurers and brokers are still failing to demonstrate fair value despite industry efforts to improve governance and oversight regarding Guaranteed Asset Protection (GAP) products.
Major players like Volkswagen Group and Ford are facing significant challenges to meet new European Union (EU) regulations
Car makers are on track to meet their zero-emission vehicle (ZEV) mandate targets for this year, despite many falling short of the electric vehicle (EV) sales targets.
Vendigital’s Sheena Patel argues that the industry needs to come together to outline and define higher levels of standardisation
While there are positive signs of an industrial strategy for automotive and investment in EV infrastructure, the new government's actions will be determined by political uncertainty and competing national priorities.
The Financial Conduct Authority has found "issues" in the ways that motor finance was offered or incentivised in the past and the ongoing review will determine the breadth of those issues, and what system of redress will be needed. That's according to FCA chief executive Nikhil Rathi.
As the UK is set to restore its 2030 ICE ban, Renault chief Luca De Meo has questioned the timeline for the transition to electric vehicles (EVs) in Europe, insisting the French car maker needs to reduce costs to meet its EV goals.
The Labour government, which has committed to reinstating a 2030 deadline for phasing out new ICE car sales, is coming under pressure to decide whether to follow the EU and US in raising duties on Chinese EV imports.
The financial watchdog at the heart of the finance mis-selling probe has hit back at Barclays’ bid to quash a key ruling.
The European Commission has today officially imposed anti-subsidy duties on electric vehicles (EV) imported from China, forcing manufacturers to put aside money for the new tariffs.
