Dealers say that limited potential for online-only motor retail was the top reason for the collapse of Cazoo, according to Startline’s July Used Car Tracker which questioned 62 dealers. Half of dealers surveyed said online-only was a problem, followed by 37% who said investors overestimated efficiencies that could be accessed through technology, and 35% said… Continue reading Dealers say limited online-only sales potential is main reason for Cazoo collapse
Author: Motor Trader Online News
New tech can help dealers deliver good Consumer Duty outcomes, says iVendi.
New technology is needed to help dealers deliver positive outcomes in relation to Consumer Duty, says iVendi. Most of the major providers in the motor finance market are switching to a risk-based pricing model. Current systems do not always allow dealers of consumers to see the actual interest rate they would pay until an application… Continue reading New tech can help dealers deliver good Consumer Duty outcomes, says iVendi.
Cap hpi links with Temcover to help dealers speed up car sales
Tempcover and cap hpi have teamed up to help dealers close more sales. The short-term insurance provider offers cover from one hour to 28 days to help dealers improve post-purchase service to buyers. Flexible driveaway insurance allows buyers to drive their new purchase and have time to shop around for the best insurance deal on… Continue reading Cap hpi links with Temcover to help dealers speed up car sales
JLR and dealers accelerate data sharing for improved customer service
JLR (UK) is aiming to improve how it interacts with customers, in-person and digitally, under Costa Delis, the recently appointed UK customer experience director. In February JLR unveiled its new “refined” franchised model with “key adaptions” marking a departure from its previously stated intention to switch to pure play agency in 2024. The focus on… Continue reading JLR and dealers accelerate data sharing for improved customer service
Dealers ‘confused’ by Consumer Duty reporting requirements
An Evolution Funding poll has revealed dealers are unclear on the FCA’s consumer duty reporting requirements. 889 dealers responded and a significant number were either unaware of the requirement to produce a board report or did not know they must produce their first report by 31 July. Sam Osborn, Evolution’s head of risk and compliance,… Continue reading Dealers ‘confused’ by Consumer Duty reporting requirements
Security specialists spell out what dealers can do to prevent cyber-crime
US companies, responding to the CDK Global cyber-attack which brought down its cloud based DMS system for a period, have offered UK dealers advice on how to prevent themselves falling victim to cyber fraud. Satnam Narang, senior staff research engineer at Tenable, said: “All organizations must understand they are a likely ransomware target. “In order… Continue reading Security specialists spell out what dealers can do to prevent cyber-crime
8 in 10 dealers use data to inform stock decisions
82% of motor dealers use market data to help inform their stock decisions, according to Close Brothers Motor Finance. Close Brothers’ Forecourt Foresight research surveyed over 130 dealers. Lisa Watson, director of sales at Close Brothers Motor Finance, said: “Our latest Forecourt Foresight research shows just how important market data is to dealers, with the… Continue reading 8 in 10 dealers use data to inform stock decisions
NFDA general election survey sees private EV sales boost as big issue for dealers
Consumers want the next government to focus on restimulating the private market for electric vehicles. That’s the key finding of a General Election survey from the National Franchised Dealers Association. The survey received 51 responses from various franchised dealership groups across the UK, collectively representing over 300 sites. “Through NFDA’s General Election survey and manifesto,… Continue reading NFDA general election survey sees private EV sales boost as big issue for dealers
Dealers hit out at OEM pressure to sell EVs
Most dealers say they are under pressure from carmakers to sell EVs to meet ZEV Mandate targets. A survey of dealers carried out by the National Franchised Dealers Association (NFDA) found that 39% of dealers were under ‘a great deal’ of pressure to sell EVs whilst 32% were under ‘a moderate amount’ of pressure. The… Continue reading Dealers hit out at OEM pressure to sell EVs
Cyber attack on CDK Global impacts dealers in the US
CDK Global was hit by a cyber attack in the US on Wednesday forcing it to shut down its applications for US dealers. The US software giant services 15,000 outlets across the US, with thousands of dealers and the majority of OEMs on its boos. The company “shut all systems down and executed extensive testing… Continue reading Cyber attack on CDK Global impacts dealers in the US