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Howards Group has raised £60,000 for charity in the primary 12 months of formalising its Howards Family Charitable Partnerships Programme. The group pledged to donate a minimum of £5 for each vehicle purchased which it said marked a major step forward in its ongoing mission to boost the health and wellbeing of people across its communities. The dealer group has supported education projects, community projects, support for older people and their carers, family welfare, youth work, schools and hospice care as a part of its partnerships programme. Jonathan Coleman, Howards group property and executive director, said: “Throughout our 51  years…

Recent automobile finance volumes dropped by 3% in October year-on-year, based on the most recent figures from the Finance and Leasing Association (FLA). The corresponding value of recent business was 2% lower over the identical period.  Within the 10 months to October 2023, recent business volumes remained 6% lower than in the identical period in 2022. Geraldine Kilkelly, director of research and chief economist on the FLA, said: “The patron automobile finance market stays remarkably resilient despite the subdued economic outlook, with the worth of recent business expected to be only 4% lower in 2023 than in 2022.    “FLA’s latest…

Commercial feature from Automobile Care Plan Progressive vehicle insurance services fully branded to your online business Leading manufacturers and retailers within the automotive industry are utilising the most recent in revolutionary motor insurance and add-on protection solutions to drive sustainable business growth and retention rates. Introducing Automobile Care Plan Protex, the UK’s leading provider of auto manufacturer branded retail motor insurance and accident aftercare solutions. Protex is the most recent addition to the portfolio of services and products offered by award-winning vehicle warranty and asset protection provider Automobile Care Plan. With over 47 years’ experience partnering with the world’s most…

Online used automotive dealership Cazoo has accomplished its debt restructuring programme after bondholders reached an agreement to exchange $630 million of debt for $200 million in bonds and shares. The business said the brand new structure will now provide Cazoo with a much better financial foundation and sets the stage for its next chapter of growth – one without its controversial founder Alex Chesterman, nonetheless. Paul Whitehead, the present CEO of Cazoo, said: “Completion of those transactions represents a major inflection point for Cazoo. With an improved capital structure and inspiring operational momentum, as demonstrated by our successive record retail GPU…

The UK and the EU have reached a deal that may delay the implementation of ‘rules of origin’ and the imposition of tariffs on electric vehicles (EVs). The European Commission has confirmed that it had agreed to a three-year postponement of the brand new trading arrangement scheduled to take effect from January.  Under the unique rules, the Society of Motor Manufacturers and Traders (SMMT) had predicted a ten% tariff on EVs traded in each directions would result in billions in costs, increased consumer prices, and diminished competitiveness for manufacturers in one another’s markets – a potential setback could significantly impede the transition to…

Online marketplace Carwow has voted the Volvo EX30 as its automobile of the yr in an bid to assist buyers make the most effective alternative based on price performance, efficiency, comfort, and practicality. Chief content officer at Carwow Mat Watson said the model proves that an exceptional automobile doesn’t have to return with a hefty price tag. ““Volvo has absolutely smashed it out of the park. The little EX30 is the most effective all-round electric automobile, and the most effective all-round automobile of 2023 and is priced to appeal to the pinnacle, as much because the design and driving experience…

A seasoned veteran with 40 years of experience within the industry insists that franchise motor retailers will proceed to be the indispensable interface between manufacturers and customers. Speaking on the Vehicle Remarketing Association’s (VRA) latest seminar, Graeme Potts, CEO, Eden Motor Group, acknowledged the long-standing speculation surrounding the demise of franchise retailers. Drawing on Mark Twain’s famous quote about exaggerated reports of its death, he said the franchise dealer would remain the crucial interface between motor manufacturers and customers, suggesting that any perceived threat might actually spur innovation and resilience. So as to ensure that the industry stays relevant, viable and…

Promoting watchdog ASA has taken Renault UK to task over misleading environmental claims. It said that a paid-for meta ad for Renault seen on 1 May contained a picture of the Renault Austral automobile with the text “Rethink hybrid we did. As much as 80% electric driving in the town. All latest Renault Austral E-Tech full hybrid. WLTP test data. Actual real world driving results may vary”. Renault explained that the headline claim was based on an internal test accomplished by Renault’s engineering team which aimed to copy the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) testing. WLTP testing is…

The UK’s first EV battery strategy has been published, alongside the Government’s Advanced Manufacturing Plan, which sets out a 2030 vision for the UK to have a globally competitive battery supply chain that supports economic prosperity and the transition to net zero carbon emissions. It guarantees targeted support for  zero emission vehicles, batteries and their supply chains including £2 billion of recent capital and R&D funding for the five years to 2030, and an additional £38 million to boost the UK Battery Industrialisation Centre’s development facilities, plus other measures including steps to support start-ups and encourage foreign investment. Industry minister…

Maintaining the traditionally strong finance and insurance (F&I) revenue stream inside dealerships is much more vital in an economic climate where consumers are cautious, lead times for brand spanking new cars are longer, and manufacturers are evolving their distribution models, despite May’s latest automobile registrations being up 16.7% (SMMT). For James Tew, CEO of finance platform provider iVendi, the reply lies in technology, especially with stricter Financial Conduct Authority (FCA) Consumer Duty regulations coming into play at the top of July. The corporate has been working closely with UK lenders to include as much information as possible into its platform.…