VWFS slapped with FCA fine. Appetite for EV switch strong as barriers drop. The high cost of EV repairs. Latest acquisitions. And two Chinese brands!
Motor Trade Radio Podcast
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Motor Trade Radio: 26 October 2024, E64, S10
?If you enjoyed this week’s Motor Trade Radio podcast, powered by MOTORS , and want to dig deeper into our featured headlines, then here's the links to all the stories.
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THIS WEEK'S HEADLINES
AM ONLINE
FCA compliance failing costs Volkswagen Finance ￡27m
Volkswagen Finance has been slapped with a ￡5.4 million fine by the Financial Conduct Authority (FCA) for failing to treat customers in financial distress fairly. Between January 2017 and July 2023, Volkswagen Financial Services, one of the UK’s largest motor finance providers, failed to properly assess and support the?needs of over 110,000 customers struggling to make payments.
MOTORS PRESS RELEASE
Appetite to make electric switch remains strong as barriers diminish, finds MOTORS survey
The appetite among buyers planning to switch to fully electric models for their next car remains strong as purchasing barriers start to diminish, according to new research commissioned by MOTORS. EV ownership has grown to the highest level (8%) ever recorded by the Consumer Insight Panel, with 19% of the 2,000 buyers polled saying they expect their next car to be an EV, a level consistent with previous surveys.
MOTOR TRADER
WSG reveals highest warranty claims on BEVs
New research from Warranty Solutions Group (WSG) has revealed the highest warranty claims it has paid out over the past year. The largest EV warranty claim paid by the firm between 2023/2024 was for a replacement transfer box and electric drive on an Audi E-Tron Sportback Quattro, totalling ￡5,000.
CAR DEALER
Ancaster Group adds Skoda to list of manufacturer partners with acquisition of Allams of Epsom
Ancaster Group has added to its dealer portfolio with the acquisition of Allams of Epsom. The firm has purchased the Surrey-based Skoda dealer for an undisclosed fee and is not planning to rebrand the site as part of the deal.
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Dragon2000 sale to Lacour strengthens position in DMS market
Dealer management system developer Dragon2000 has been sold to France-based Lacour Group. Northamptonshire-based Dragon2000, which has grown from its inception in 1995 into a major player in the UK’s automotive DMS?market, partnering more than 1,000 car dealers including?Williams Automobiles, also specialises in car dealer websites, garage software and?used car dealer software solely for the retail motor trade.
AUTOCAR
Xpeng G6 to be launched in the UK in a matter of weeks
Chinese Tesla rival?Xpeng?will launch in the UK in “less than a handful of months” as it works to expand its line-up to include right-hand drive cars, its co-founder has said.
The EV company will launch with its?G6?coupé-crossover, a rival to the?Tesla Model Y, Brian Gu confirmed to journalists at the?Paris motor show.?
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Opportunities for smaller dealers as China's Skywell reaches the UK car market
Car buyers’ choice is expanding further in the UK as a new electric vehicle brand, Skywell, begins sales here. Skywell is part of?China's electronics giant Skyworth Group. Its UK licenced distributor Innovation Automotive in Cirencester, which?also imports DFSK light commercial vehicles,?is busy building a footprint for both.
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1 个月Looks like the motor trade is moving faster than a Tesla on a free highway! Exciting times ahead!