Cost control

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Investment in these technologies over the past five years has been “amazing”, he said, with much coming from non-manufacturers.

Dealerships can now conduct a real-time audit of their customer database thanks to a new data cleanse report developed by Marketing Delivery.

Gaurav Jain, UK commercial director, Get Your Car, Carwow, discusses the opportunities for dealers as car buyers seek more guidance on finance options

Autotech Group founder Gavin White is to partner with commercial finance broker independent commercial finance broker Activate Business Finance

The majority of car buyers are satisfied with their experience buying finance from dealers, according to research by JudgeService.

If consumers are paying a greater price now than they did before, what harm is the FCA’s intervention actually preventing?

Lloyds Banking Group has allocated £450 million to cover potential expenses related to regulatory investigations into historic motor finance commission deals.

Consumer champion Martin Lewis’s free tool for consumers to probe whether they were victims of discretionary commission agreements (DCAs) has logged the filing of over half a million complaints.

Eight out of ten insurance firms have agreed to pause sales of Guaranteed Asset Protection (GAP) insurance at the request of the financial watchdog.

The Financial Conduct Authority has announced it is looking deeper at historical agreements between motor finance companies and their brokers or car dealers because of mounting complaints, some of which have been upheld by the Financial Ombudsman Service. But what is causing its concern?

Car retailers from around the country are facing a series of rapid clean-up operations following the flood damage caused by Storm Babet.

Tackling the cost base has once again been brought into sharp focus for automotive retailers as the UK economy stagnates.

As 1 in 2 car dealers predict their 2022 profits will be down vs 2021 AM's survey finds 1 in 4 have made wage increases above 5% to help staff with living costs

As omnichannel sales, agency fees and low-maintenance electric cars become a norm, it will become imperative for car dealerships to identify new revenue streams.

The benefits of an agency-style model, where the new car journey is managed online and manufacturers pay a handling fee to retailers, largely outweighs the disadvantages, according to senior executives at dealer groups already experiencing mixed commissions at work in their businesses.

MotoNovo has urged dealers to ‘be prepared’ for car buyers' greater levels of interest in a dealer’s finance commission.

Coronavirus has driven an uplift in motor finance digital applications this year, but 2021 looks set to bring further effects for dealerships regulated by the Financial Conduct Authority (FCA). Here AM examines three key impacts.

Our new December 2020 issue of AM magazine is out now here with vital insights into January's FCA motor finance changes and a study of lockdown 2's impact on car dealers.

Coronavius crisis has meant FCA is putting back the release of car finance findings

​Kew Vehicle Leasing claims to have become the first leasing broker to openly disclose the amount of finance commission it receives on all regulated Personal Contract Hire (PCH) agreements.

The Financial Conduct Authority has considered whether to force car dealers to tell their customers about the way they earn commission from selling motor finance and the amounts they earn.

Fully salaried wages may help mitigate motor retail employees’ ‘financial shock’ worries