The FLA said the market is well regulated and points out the arrears rate is 1.3%. A rise in complaints reflects more people using motor finance and is “a tiny percentage” of people who have a finance agreement, said director Adrian Dally.

https://bit.ly/3EuhhJC

Toyota plans special EV retail hubs

Toyota plans to sell its new range of pure electric vehicles through dedicated in-dealer ‘hubs’ which will provide specialist EV advice. Called bZ Hubs, Toyota product and marketing boss Andrea Carlucci said they will be ‘store in store’ facilities.

He added that not every retailer will be required to offer them. “In big cities, where there is probably greater demand for EVs, it may make sense for all dealers to be bZ hubs. This won’t be the same in other areas.

“Our dealerships will remain at the heart of our customer proposition. The hubs are about enhancing that, for those who want to harness what digital services can offer.

“Some people want to visit the dealership five, six or seven times before buying the car’ others don’t want to do this at all. We need to be able to satisfy both types of client.”

Toyota’s first pure electric car is the bZ4X, which will be available as part of an all-inclusive leasing package including maintenance, insurance, connected services, home wallbox and ‘single card’ access to multiple public charging networks.

Earlier this year, Auto Retail Agenda exclusively visited Steven Eagell Toyota in Solihull to see its new Lexus store-in-store retailer. It was the first Lexus-within-Toyota site as part of a trial concept where the area does not support a standalone Lexus retailer.

https://bit.ly/31yR4eh

 

Alan Day ‘world first’ EV mobile technician

Alan Day Volkswagen Hampstead has invested £250k in new ABT e-Transporter electric mobile servicing van.

Alan Day Group MD Paul Tanner claims it is a world first. However, other independent EV mobile servicing businesses exist such as Cleevely EV Mobile which operates a Nissan ENV200 and an electric MG estate converted to a van.

The Alan Day van has solar panels on the roof that power interior electrics, and was kitted out by Bri-Stor with 5G internet, diagnostics, compressed air jacks and a sink.

Alan Day, which already operates a zero waste policy, aims to become Britain’s first carbon negative auto retailer.

https://bit.ly/31tb2r0

 

Gates donates another Ford

Gates Ford of Bishop’s Stortford has provided a Kuga Plug-in Hybrid to the Essex and Herts Air Ambulance. The liveried vehicle replaces a Mondeo handed over in 2019. The charity said that as it receives only limited government funding, “we depend on the generosity of individuals and businesses such as Gates”.

https://bit.ly/31myZ3K

 

 

 

WORLD NEWS

NADA predicts the end of incentives

NADA chairman Paul Walser said supply chain disruptions may lead to the end of cash bonus incentives to hit sales targets, called ‘stair-step programs’ in the US. They have already practically disappeared due to the semiconductor crisis hitting production and “could be gone for good,” said Mr Walser.

He highlighted improving results in NADA’s Dealer Attitude Survey. “There’s strong evidence that the absence of stair-steps improves manufacturers-dealer relations… everybody is now realising that life is better without them.”

https://bit.ly/3Gj6CSv

 

Polestar to double US retailers

Electric car brand Polestar aims to double its US retailer network by 2023. Today’s 25-shop network will expand to 38 in 2022 (and, globally, grow from 86 to 150). The Polestar ‘Spaces’ are operated by selected Volvo retailers. “From here on in, Polestar is all about growth,” said CEO Thomas Ingenlath.

https://bit.ly/3Imm1TX

 

 

STOCKWATCH

Closing prices on 3 December 2021 and weekly change

Marshall up more than a third after Constellation offer

Auto Trader Group 715.4p (-14.4p / -1.9%)

Caffyns 550.0p (+50.0p / +9.5%)

Cambria 82.5p (n/c)

Halfords 344.6p (+23.6p / +7.0%)

Inchcape 850.0p (+18.5p / +2.2%)

Lookers 56.9p (+0.5p / +0.8%)

Marshall Motor Holdings 392.0p (+118.0p / +35.4%)

Motorpoint 334.0p (-11.0p / -3.2%)

Pendragon 21.5p (+2.85p / +14.1%)

Vertu 65.2p (+6.2p / +9.9%)

 

 

COMING UP

Monday, November new car registrations

Tuesday, UK retail sales

Thursday, RICS Housing Market Survey

Friday, UK GDP

14 December, Auto Retail Live Outlook for 2022

 

 

MONEY MATTERS

Omicron to delay interest rate rise?

An expected interest rate rise in December could be delayed due to the risk of the Omicron coronavirus variant slowing the UK economy. Bank of England policymaker Michael Saunders was one of two MPC members who voted for a rate rise in November, but now says he needs more information before making a decision at the next meeting on 16 December.

https://bbc.in/3Gfjr0f

 

FCA to scrutinise appointed representatives

The FCA has launched a consultation on improving the appointed representatives regime to “tackle harm from this model”. Proposals would require FCA-authorised principals to provide more information on their appointed representatives, so the FCA can spot risks faster.

“The appointed representative model helps bring choices to consumers, but the level of harm we are currently seeing is too high,” said FCA consumers and competition executive director Sheldon Mills. The consultation paper has been published and it closes on 3 March 2022.

https://bit.ly/3EtsCJZ