Tag Archives: motor trade

July 2016: New Car Registrations

England keeps UK new car registrations afloat during July.

Considering all the doom and gloom forecasting in the run-up to and after the Brexit, you have to admit that the motor trade is standing firm with a real sense of “let’s just get on with things”.

Yes there’s been ripples in the water as a result of the EU Referendum, with Vauxhall, Ford and Peugeot having implemented small price rises across their cars in the six weeks since the UK voted to leave the European Union, according to Daksh Gupta, CEO of Marshall Motor Holdings during a recent interview with TradePlates.TV.

“It’s only been small percentages, but I think clearly one of the things (driving it) is “what’s the impact of sterling going to be?”, said Gupta.

He said: ‘If you take what we’ve seen with these manufacturers that have put their pricing up, it’s only been one or two per cent. So, if you’re saying that an average vehicle is £20,000 and you took a midpoint and said it was a five per cent increase – that’s £300.

In related news, the boss of Nissan has said future decisions about the car giant’s Sunderland plant will depend on the outcome of Brexit negotiations. However he was ‘reasonably optimistic’ that the UK will continue to be a key partner of the European Union.’

Ghosn told the BBC: ‘I don’t think today you can talk about any impact before we see what is the new status of the UK. Most of the production out of Sunderland is exported to Europe. So obviously for us, the relationship which is going to prevail between the UK and Europe is very important.’

So even with all the negative forecasting leading into the Referendum,  businesses and consumers are keeping calm, and carrying on as normal.

“Just keep swimming.”

In terms of new car sales last month, England was the only part of the UK with an increase in new car registrations during July 2016 according to figures released by the SMMT. Sizable falls of around 8% in Scotland and Wales was offset by a modest increase of 1,900 vehicles in England, which just about kept the UK sales figures afloat.

New car sales in Scotland were down to 12,471 in July 2016, a fall of just over 8% compared to July 2016, with a similar fall in Northern Ireland’s monthly registration figures to 3,899.

The year-to-date presents a more positive picture with an increase of around three per cent with 1,594,509 registrations. This is up 44,760, but it’s the 56,100 increase from England that keeps the overall number in growth.

This year sees Northern Ireland’s registrations increase by 233 vehicles while those in Wales fell by 100, and Scotland have fallen by 1,473.

Mike Hawes, SMMT Chief Executive, said, “After a healthy start to 2016 and record registrations in 2015 the market is showing signs of cooling. The automotive market is a vital part of the British economy and it’s important government delivers the economic conditions which instil business and consumer confidence. With low interest rates, attractive finance options and exciting new models coming to the showrooms, the market still has lots to offer customers.”

Looking at the graph below it seems everything is starting to settle onto a healthy plateau.

July-new-car-registrations-2000-to-present-chart

We’ll keep an eye on the months ahead and report the latest figures right here, so please check back soon!


Thank you for reading this JUly 2016 New Car Registrations post on the WAS Blog!

Video Series Launch – Smiles For BEN

Today we launch our first video in a new series aimed at the motor trade! We have also pledged to turn your views into a donation to BEN, to help those in the trade falling on hard times. So grab a hot drink, and take 2 minutes to giggle at our first step into the silver screen!

Greetings everyone! You may have already heard around the web that we release our very first video today! The first in a brand new series aimed at making light of the motor trade through the adventures of our characters – the eccentric car dealership manager, and his plucky sidekick Tim! This first video is entitled “Frustration”, so click the link below to watch how Tim steps-up and saves the day!

Crystal Clear Warranty Video

Watch the video here! warrantyadmin.co.uk/ben

 

BEN Logo

We have also pledged to turn your views into a donation to BEN, to help those in the motor trade falling under hard times. Watch, laugh, smile, and most importantly share it with your friends.

Crystal Clear Warranty Video

Every view will help to raise money for BEN; the not-for-profit team who support many of our Motor Trade colleagues during difficult times.

Video link! warrantyadmin.co.uk/ben

If our small contribution helps put a smile on the face of someone being supported by BEN, then it’s a job well done!

New Car Registrations Hit September Record

September in the UK motor trade has seen record sales, reinforced by the new 65-Plate registrations. We break down the stats to give you a clear picture of the positive growth!

In a nutshell, 462,517 new cars were registered last month. A strong rise of 8.6% and the highest September on record. Traditionally September is always one of the bigger months in the year due to the “new plate” releases, however this growth was across the board of vehicle types, with demand increases for all fuel types, and from private, fleet and business buyers. September 2015 has marked the 43rd consecutive month of growth!

The SMMT report that the year-to-date total registrations have passed the two million mark in September for the first time since 2004.

The total number of cars registered in 2015 so far is 2,096,886 – 7.1% higher than at the same point last year.

The SMMT report “Gains were made across all market sectors – private, fleet and business – while petrol, diesel and alternatively-fuelled vehicles all saw increased demand. In line with typical performance so far this year, registrations of diesel and petrol cars in September grew 4.1% and 12.3% respectively, and alternatively-fuelled vehicles (AFVs) recorded another strong month with volumes up 21.7%. This puts total year-to-date growth at 3.1% for diesel, 9.5% for petrol and 48.7% for AFVs.”

Mike Hawes, SMMT Chief Executive, said, “September is traditionally one of the year’s biggest months for new car registrations, and last month set an autumn record. With plenty of attractive, affordable deals available on the new 65-plate, Britain’s car buyers – whether private, fleet or business consumers – were busier than ever. The market reached pre-recession levels some time ago, and we anticipate some levelling off in the coming months.”


Thank you for reading this post on September UK Vehicle Sales Figures on the WAS Blog!

 

Motortrademe. The Trade-Only Motor Dealer Network

Calling all professional Motor Dealers! Motortrademe is an experienced trade-only dealer network, that has been designed and built by industry experts to solve the frustrations that is common to most dealers using existing platforms.

 

Dealers often comment that there is a need for a more reputable and cost effective alternative for disposal and stocking. Concerns with risk are often the barrier to fully realising the cost benefits that existing alternative routes offer. The risks are almost always down to the quality of the network. As a result, dealers often spend far more of their budget than necessary by dictating one stocking and disposal route over another, without ever revisiting the cost saving potential that could be realised with a fixed cost* approach versus current variable fees.

Dealers also miss the potential additional returns such as instant underwrites, real world market valuations and fast trade turnarounds on unwanted part exchanges that instant buy-it-now trade sales platforms offer.

 

Motortrademe Trade Only Dealer Network

Motortrademe is dedicated to bringing together professional members of the trade, in order to build a trusted network of like-minded fellow dealers where you can reliably source and dispose of good quality stock, without having to safeguard against poor trade practices.

Our members contribute to the success of this platform, and good trading practice is fundamental to delivering long term value, quality of service and overall sustainability. Therefore we have developed a vetting system that ensures that our members are legitimately from the trade and have been in the industry long enough to share our values and philosophy.


“Underpinned by a commitment to deliver a quality and affordable service we have ensured that Motortrademe is easy to use, and minimises the amount of administration for both buyers and sellers through your sales process.”


With your support, we commit to continue to build on this philosophy with technology and services that will help all of our our members develop and grow their business.

Please visit www.motortrade.me and apply today for your free 30 day trial account and see for yourself the benefits and value that Motortrademe has to offer.


* Our pricing plans are cost effective, simple and straightforward. Selling stock on Motortrademe is free of charge, while a full account at £50 p/m enables subscribers to purchase and sell on the platform. 

 


Thank you for reading this post on the WAS Blog! Visit www.motortrade.me for more information, or view the recent WAS Blog posts to read more motor trade news!

New “UK Car Dealer Chat” Discussion Forum On LinkedIn!

Are you on LinkedIn? Are you a car dealer in the UK motor trade? Come join our new LinkedIn discussion forum entitled, UK Car Dealer Chat!

We have taken it upon ourselves to create a dedicated discussion forum for UK car dealers on LinkedIn. “UK Car Dealer Chat” is exclusive to UK motor dealers on LinkedIn, and a perfect place to network and talk about issues affecting the trade and share best practice. It’s not an area for selling or selflessly promoting offers, but instead to network and collaborate with like-minded UK motor trade folk!

We also plan to invite guest contributors, who can give insights into market changes and new developments!

 

LinkedIn Logo

Visit the UK Car Dealer Chat Group

Click here to visit the join in the discussion! You will need to be logged into LinkedIn, and then click the big “join” button at the top! See you there!

What is the most popular new car colour?

So you’re strolling around the forecourt arranging your stock of used vehicles. Which colour car do you think is more likely to sell? The red one? The blue one? SMMT figures reveal the “colour of choice” for UK new car buyers!

Way back in 1996 when we were caught in the grip of “brit pop” fever, and our national football teams brought the UK to a standstill in the European Championships – just 2,489 white cars were sold on the UK’s forecourts.

Based on the latest SMMT figures it appears that in 2013 and 2014, “white cars” are the new “black cars”. White cars are now the colour of choice for UK new car buyers!

“Of 2,476,435 new cars registered in 2014, 22.2% were white – representing the highest proportion of white cars registered in any year since records began in 1996.”

10 years ago, only 1% of new car customers bought a white car. In 2014 almost a quarter of the 2,476,435 new cars registered in the UK were white!

Figures released today by the Society of Motor Manufacturers and Traders (SMMT) reveal:

  • 2,476,435 new cars registered in 2014.
  • 22.2% of those cars were white making it the most popular new car colour.
  • 2014 sees the highest proportion of white cars registered in any year since records began in 1996.
  • In 2010 white cars accounted for less than 10% of new-car registrations.
  • In 2010 black and silver cars were most popular new car colour.

 

Best-selling white cars by year

Year         Make Model Registrations
1996 Citroën Xantia 2,489
2000 Vauxhall Astra 4,775
2005 MINI MINI 3,827
2010 Fiat 500 13,049
2014 Ford Fiesta 25,845

So if you’re arranging your used stock on the forecourt this weekend, maybe have a look to see if any of your white cars are fully visible. It just might be the next car you sell!

 


Thank you for reading this post on the WAS Blog about the most popular new car colour in 2014! Please share and comment below! Image credits to Anja Disseldorp via Flickr, Dave Shafer via Flickr, André Sá via Flickr, and Keith via Flickr.

Backing Ben!

Ben Automotive Charity

It’s nice to support the organisations that support the industry we work within. So Warranty Administration Services Ltd were delighted to recently make a contribution to BEN, the Motor Trade Benevolent Fund, as part of our 30th anniversary.

Although not a massive amount of money compared with some of their large corporate supporters, we hope our small contribution will help this fantastic organisation to meet their objectives.

Treating Customers… Fairly?

Treating Customers Fairly is without a doubt, the latest “buzz phrase” to be sweeping through most businesses at the moment. But what does it mean? How does it apply to the motor trade, and the aftermarket warranty? Is it not a concept that all businesses subscribe to as a matter of course? After all, if you don’t look after your customers you will soon run out of them, especially in today’s social media driven background.

Treating Customers Fairly
Treating Customers Fairly

Although our self-funded warranty is outside the scope of FCA involvement, we have always looked at “best practice”, and ensured we address all of their concerns in our Crystal Clear Warranty.

The aims of the Treating Customers Fairly programme are fully embedded within our core values and, no doubt, yours. But as an audit perhaps we need to identify what the FCA are looking to achieve with the Treating Customers Fairly programme, to confirm we are following best practice.

The Treating Customers Fairly programme aims to “help customers fully understand the features, benefits, risks and costs of the financial products they buy”.
The Crystal Clear Warranty that we offer is the only warranty product in the UK approved by the Plain English Campaign, for the clarity of the wording. We did this to ensure that our warranty was perfectly clear and easy to understand. The features, benefits, risks, and price paid are clearly shown.

The Treating Customers Fairly programme also aims to “minimise the sale of unsuitable products by encouraging best practice before, during and after a sale”.
Having a range of different cover levels allows our  to ensure that the right warranty is attached to the right vehicle. Also our free on-site training sessions reinforce the principles of how our warranty not only covers the principles of Treating Customers Fairly, but exceeds them.

What are the desired consumer outcomes of Treating Customers Fairly? The FCA have outlined six core consumer outcomes that it wishes to see as a result of the Treating Customers Fairly initiative. These are:

Outcome 1 – Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.

Outcome 2 – Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.

Outcome 3 – Consumers are provided with clear information and kept appropriately informed before, during and after the point of sale

Outcome 4 – Where consumers receive advice, the advice is suitable and takes account of their circumstances.

Outcome 5 – Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as described.

Outcome 6 – Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

I firmly believe that with the clarity of our products, the constant training we supply to client staff, and the internal training that you carry out in-house, we can be extremely confident that between us the desired outcomes of Treating Customers Fairly are being met in full.

Unfortunately, some warranty providers are attaching “risk” to the Treating Customers Fairly programme, and claiming that self-funded warranties fall foul of the FCA because if the car dealer goes out of business, then the customers are left without any protection. This is total rubbish.

Our self-funded warranty is outside the scope of the FCA, however all the best practices they have put forward have been integrated into our programme. What is more interesting, is that the alternative that they put forward and suggest you subscribe to, is more than often “a self-funded and non-insured warranty scheme”.

The simple test to discover the reality is to open up a warranty document that you presently give to the customer. If there is no Insurance Certificate or mention of an Underwriter in that document, then the customer will be left stranded if whoever is holding the “pot” goes out of business.

We of course, over our 30 year history, have experienced dealers going into liquidation. The reality is, however, that over 95% of the customers who were left stranded because of the dealer ceasing trading had their warranties reinstated by the new company who took over the business. We work with the liquidator to ensure that any potential buyer is aware of the self-funded warranty scheme that was run, and its liability. In a massive percentage of cases the purchaser of the business will take on the liability to retain the customer’s goodwill (and hopefully their business), and reflect the cost in the purchase price.

If you’re ever made to feel that your self-funded warranty is bad for customers through scaremongering tactics from other providers, because you are holding the money, just think about all the old Rover dealers. I imagine they will have wished they had access to the warranty pot.

If you would like to know more about our Self-Funded Crystal Clear Warranty, or have any questions, please give us a call on 01522 515600, or click here to request an information pack.