Jaguar Land Rover has unveiled a new “refined” franchised model with “key adaptions”. The decision is a departure from JLR’s former stated intention to move to pure play agency this year. Following the reveal, dealers embraced the fact that their views had been acknowledged and said the franchised model was “robust” and provided “stability” for […]
Read More →The car industry was apparently warned “more than a decade ago that keyless technology on modern vehicles risked a surge in thefts”. Research found that owners could “expect to find their cars stolen in the future without any sign of entry”. An article in 2012 written by a barrister warned keyless systems could be “successfully […]
Read More →Octopus Energy is to double its EV leasing fleet to 30,000 vehicles after securing a £550m debt deal. Around 4,000 workplaces, including Dyson, McLaren and Innocent Drinks, offer Octopus EV schemes. Octopus EV chief executive Fiona Howarth said the division has more than tripled its fleet in the past year, with revenues growing from £5m […]
Read More →Banks are in a “holding pattern” as the FCA investigates whether there has been systematic harm with discretionary commission models, says Kate Robinson from regulatory adviser Avyse Partners. However, the issue is not “black and white… the responsibility has been pushed towards the banks but the brokers were involved in this process. “From a lender’s point of […]
Read More →Cazoo is facing a funding crisis and must persuade shareholders to agree to an urgent cash injection – and is understood to be preparing contingency measures including new investors, a sale or beak-up of the company, and asset sales. If fresh funds can’t be found, it will be forced to consider administration. The Telegraph reports […]
Read More →Nissan is planning a mileage simulator to provide EV buyers with a more accurate range figure than the official WLTP measurement to help improve electric car sales. The move follows a recent crackdown by the Advertising Standards Authority which saw Kia and Mercedes told not to repeat adverts for electric cars that quoted the WLTP […]
Read More →Arnold Clark has undergone an “internal restructure” resulting in the loss of four company directors this week. Group finance director Jim Graham, group people director Carol Henry, group aftersales director Scott Grant are all still with the group but now only in operational roles. It is understood director Glen Gall has retired. According to a […]
Read More →JLR intends to move to a ‘direct-to-sales’ agency model at the back end of 2024. While other manufacturers have pushed back their agency plans, UK MD Patrick McGillycuddy said JLR will go agency across the whole business and the firm has been working with partners for the past two years on the project. He insisted the human element will […]
Read More →US-based Lithia and Driveway has completed the acquisition of the UK motor and fleet management divisions of Pendragon – the UK’s third largest automotive dealership group. Following a bidding war, the deal closed with a purchase price of £397m. Lithia says that its acquisition of the leasing division adds a “highly profitable” fleet management services […]
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