NEWS

GOVERNMENT business minister Mark Prisk is tonight hosting 70 car makers at the British Embassy in Paris. He has invited them, on the eve of the Paris Motor Show, to ‘take a fresh look at what the UK can offer potential investors’. He will be joined by Automotive Council co-chairman Richard Parry-Jones, who explained the [...]

VAUXHALL sportscar fans recently helped charity by driving up bidding to £4700 for a scrap VX220. The Lotus-derived sportscar went for so little because it was a ropy example ‘given’ to the new Giveacar charity firm. Giveacar is the brainchild of former dealer Tom Chance. It offers to take customers’ car off them, for free, [...]

CAR dealers are being called upon by the Government to help review consumer credit and insolvency arrangements. Consumer Affairs Minister Edward Davey has revealed the Government will begin the review after Parliament’s summer recess – and wants to start generating feedback right now! He wants advice from all stakeholders, including car dealers, on a range [...]

VINCE Cable has told the UK automotive industry that it is the ‘hinge’ to economic strength in the country. But the industry should not expect a continuation of short-term subsidies such as scrappage. Addressing delegates at the SMMT International Automotive Summit, he said ‘it is becoming clear Government success depends on the automotive industry.’ It [...]

SMMT chiefs say the motor trade is hoping for an Emergency Budget that does not risk economic recovery. Next week’s Budget must deliver stability and certainty on motoring taxes and show a collaborative approach to sustainable growth. SMMT head Paul Everitt admits tough times are ahead – but says the automotive industry has huge potential [...]

SMMT and RMI experts have teamed up to help car dealers navigate the maze of new CO2 emissions red tape. The government Carbon Reduction Commitment initiative went live in April and is set to affect many UK car dealers. It applies to any business using more than £500k of electricity every year, and offers financial [...]

SMMT chief Paul Everitt has called upon support for the UK car industry from any new UK Government. To help politicians make the right decisions, the trade body has thus launched its own manifesto. This will, he says, ensure many of the successful schemes that have already been running will continue to strengthen economic recovery. [...]

ELECTION fever will reinforce the regular late-spring slowdown in the used car market warns Glass’s. As buyers become less certain, they curb their retail spending – and this includes cash on new cars. This means May 2010 could be a difficult month for the UK used car industry. ‘In the weeks before and after the [...]

SMALL businesses are to benefit from a new credit adjudicator task force to ensure fairness in finance. It will be headed by The Apprentice leader Lord Sugar, who is the government’s enterprise chairman. Lord Mandelson has teamed him up with FSA chairman John Wright and former Lloyds TSB deputy chief exec Mike Fairey. What’s this [...]

CAP Black Book reports another month of used car price stability for April as supply and demand continue in balance. This is because the new car sector remains fragile, which is ensuring there is no risk of used market oversupply. Short-cycle business in particular is ‘dramatically’ down say the used car experts. This stability is [...]

BMW is hooking into election fever with a new aftermarket option for drivers keen to show political allegiance. The firm has developed a new ‘Political Roundel Attachment Tag’ for sticking over its famous propeller badge. This comes in 3 prime colours – red for Labour, blue for Conservative, yellow for Liberal Democrats. This allows alignment [...]

NEW car buyers will be hit today by big changes to the vehicle excise duty system that could cost them. The first-year rates of road tax come into force – which will mean a £545 RISE for the highest-emitting models. Yes, cars emitting more than 255g/km CO2 will be stung for a first-year tax bill [...]

GOVERNMENT ministers have laid out new rules in Parliament which give more finance power to consumers. The new rules implement the European Consumer Credit Directive and come into force on 1 February 2011. They are focused on unsecured credit agreements, and new rules include: •    14-day window for consumers to cancel agreements without penalty •    [...]

SCRAPPAGE will come to an end TODAY as final funds for the successful Government scheme are used up. The industry-boosting scheme is set to go down in history as a landmark in the UK car dealer world. Up to 400,000 new car buyers have been helped into new cars, but the significant of the scheme [...]

CHANCELLOR Alistair Darling has revealed details of a delay to fuel duty rates in today’s budget. The announcement means the full price rise originally scheduled for April 1 will not come into force until 2011. But the Chancellor has made no announcement on delaying the controversial ‘Showroom Tax’. Thus, from April 1, there will be [...]

MOTORISTS are going to be put off buying a new car because of the new showroom tax says a survey. 93 percent of those polled by Motorpoint will think twice about buying a new car. It’s set to come into force on April1 – adding up to £515 to the first-year VED road tax of [...]

MOTOR Codes boss Chris Mason has met with the DfT, VOSA and Paul Clark MP to discuss future plans. The high-level meeting was described as ‘positive’ by Mason, who says he has received plenty of reassurances from the Government bodies and MP. Mason’s team showed off to Clark how they have the potential to extend [...]

BUSINESS secretary Lord Mandelson has revealed details of a £270m loan that will ‘help secure’ Vauxhall. The loan package to GME Europe is being made under the Government’s Automotive Assistance Programme. GME needs the money to secure longer-term investment. A recent guarantee of €1.9bn from GM has, Car Dealer Magazine, ensured the company has the [...]

GOVERNMENT chiefs have announced the 2010 Budget will be held on Wednesday 24 March. Confirmation from Chancellor Alistair Darling has got immediate response from the SMMT. In a pre-Budget submission, the SMMT called upon the Government to support long term investment for car makers and car dealers. However, as the scrappage scheme ends, chief Paul [...]

SCRAPPAGE deals are running dry for many car makers with some insiders predicting they will close order books today. Many big brands are down to their final initial allocations under the Government’s official Exit Strategy scheme. Unless and until further allocations are dished out for the the last dregs of the scrappage fund pot, the [...]