Chancellor Rachel Reeves’ Mansion House address revealed a process that sees the Financial Ombudsman Service (FOS) and Financial Conduct Authority (FCA) ask for input from consumers and businesses to improve their effectiveness. iVendi noted that acknowledgement of the problem is ‘welcome’ but faster action is required to solve immediate issues caused by the recent court of appeal decision on commission ...

Auto Trader, the Society of Motor Manufacturers and Traders (SMMT), and ChargeUK have launched a new initiative designed to combat misinformation surrounding EVs. The group have created a collection of facts, offering a data-backed view of the reality of owning and driving EVs. Erin Baker, editorial director at Auto Trader, said: “Electrification is a significant change and with change comes uncertainty ...

The used car market is expected to remain robust in 2025, with diesel and petrol performing similarly in price trends. Hybrids will continue to show resilience, and battery electric vehicles (BEVs) will stabilise after previous declines, though variability by model may continue. BEVs continue to attract cautious dealer interest, and although some prices have plummeted since 2022, recent buyer demand ...

Peoples Group reported a drop in turnover (-7.6%) and pre-tax profits (-32.9%). Chairman Brian Gilda has said seeing figures down is disappointing but not surprising as a similar pattern is being seen across the industry. He said: “I am a director of the Retail Automotive Alliance and we know from some of the discussions there that dealers are not doing ...

The Tesla Cybercab will be displayed at the Tesla store in London Westfield from 20th November until 8th December. It has been reported that the vehicle will be available for purchase in 2026 for less than £23,000. It is a two-seater fully autonomous robotaxi with no steering wheel or pedals. It is accessible to anyone via the Tesla app. Once the robotaxi ...

Alternatively fuelled vehicles (AFVs) traded in October were younger, carried fewer miles and were more profitable than in September, according to Dealer Auction’s EV Performance Review. There was a 10% rise in bids on EV and hybrid vehicles. The average sold price (£15,706) also rose 9.5% MoM. Dealer Auction’s marketplace director, Kieran TeeBoon, said: “As the automotive retail landscape continues to ...

AA Cars has highlighted the decline in pricing of the most popular second-hand EVs and hybrids. On average in the last year prices have fallen by 16%. Toyota Priuses (-31%) have dropped the most in value, followed by Hyundai IONICs (-30.2%) and Nissan Leafs (-26%). James Hosking, director of AA Cars, said: “The cost of a brand new EV or ...

Over two-thirds (69%) of buyers say they would consider using finance provided by dealers, according to MOTORS. The latest Consumer Insight Panel research polled the views of 2,000 car buyers. Retailers include funding options as well as costs on their websites and 71% of buyers say this would make them more likely to consider finance provided by dealers. Lucy Tugby, ...

Alan Day Motor has acquired Hummingbird Motors, a renowned Kia retailer. Located on Edgware Road, Hummingbird Kia joins Alan Day’s established network of Volkswagen, ŠKODA, BYD, and Volkswagen Commercial showrooms in London. Alan Day MD Paul Tanner said: “We are very excited and grateful to Kia for allowing us to be part of their amazing brand. “As a family-run business, ...

Volkswagen Group UK has announced the departure of Alex Smith. Replacement Damien O’Sullivan will begin his new role as managing director on 1 December. Smith spent nearly 15 years with Volkswagen Group UK, with the last six as Group MD. He said: “I’m very proud of everything the team and the networks have achieved in a period which has included ...