The Financial Conduct Authority will ban discretionary commission models from 28 January 2021. The FCA has also issued revised commission disclosure rules. The ruling follows a consultation by the FCA in October last year. Some car retailers currently receive commission which is linked to the interest rate that customers pay. This creates an incentive to […]
Read More →Parkhills Car Centre, Bury, has joined Ssangyong Motors UK’s franchised car retail network. This is the brand’s second new addition of the year, following the opening of Fine Cars’ showroom in Gosport back in March. Kevin Griffin, managing director at SsangYong Motors UK, commented: “We welcome Parkhills to our growing network and expect a prosperous […]
Read More →Franchise dealers should assume they are classed as shops when the new facemask law comes into force, according guidance from the NFDA. Wearing a facemask in a retail environment in England becomes mandatory for customers on Friday (24 July). It has been mandatory in Scotland since 10 July. Guidance in Wales and Northern Ireland strongly […]
Read More →New-start online retailer Cazoo has bought Imperial Car Supermarkets for an undisclosed sum. The move takes Cazoo from being an online-only, home delivery, retailer to being a more traditional used car dealer. A spokesman for Cazoo said: “The deal, combines Cazoo’s leading digital capabilities and platform with Imperial’s extensive infrastructure and expertise. It will accelerate […]
Read More →Lotus CEO Phil Popham says they need a lot more franchise dealers and is actively seeking a “world class” network of UK retailers. Lotus want to double the size of their current dealer network. Mr Popham revealed he expects the future network of retailers to be 75% new compared to today. This will be achieved […]
Read More →Auto Trader’s audience reached 64 million in June 2020, up 29% on 2019. Used car prices on the platform also grew 3.7% in June 2019. This is the largest monthly increase since January 2019. The biggest gain was for cars aged 5-10 years, which rose 7.0%, with cars below 5 years up 3.0%. It is […]
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