Car dealers face becoming the focus of a new customers financial scandal similar to PPI claims of the last two decades.
The Financial Conduct Authority is investigating cases of finance houses not paying out compensation to customers over now-banned ‘discretionary commission arrangements’ and the watchdog is using its powers under S166 of the Financial Services and Markets Act 2000 to identify cases of potential wrongdoing by motor finance firms which allowed dealers to inflate interest repayments and cream off extra incentive money.
Britain’s advertising watchdog has ruled that car makers cannot describe electric vehicles as being ‘zero emissions’.
MG and BMW have were reprimanded the Advertising Standards Authority after ads last year which suggested that their electric models do not produce emissions during the manufacturing process.
Last week marked the 35th anniversary of the Mazda MX-5 launched in the USA.
There have been four generations of the model with over a million sold including in excess of 115,000 in Britain.
The UK’s used car market grew by 5.1% to 7,242,692 transactions in 2023, according to the latest figures published today by the Society of Motor Manufacturers and Traders.
Four straight quarters of growth saw 351,915 more motorists get behind the wheel of a second hand car than in 2022 as the previous year’s supply constraints receded, delivering more choice to buyers and the most popular was the Ford Fiesta.
A planned rise in Welsh train fares has been cricitised by opposition MS politicians.
The 4.9% increas was attacked by Natsha Asghar MS, Shadow Transport Minister, saying, “Transport for Wales is languishing in bottom place for UK customer satisfaction and passengers have complained that the quality of the service is deteriorating month by month. Raising prices whilst running a consistently poor standard will push people away. After sinking £125m to bail out TfW, it is high time that commuters in Wales see significant improvement to the service and a return on Labour’s investment of taxpayers money.”
Transport for Wales has started introducing pay as you go contactless system on some south east Wales services.
It will begin on the Cardiff, Newport and Pontyclun lines as a pilot be be rolled out to 95 stations through 2024.
Volvo committed to its electric-only future and isn’t worried by recent weakening of demand for electric cars, boss Jim Rowan has said.
The Swedish manufacturer intends for its EV sales mix to hit 50% by 2025 and 100% by 2030 and currently amounts to 16% of its total global sales.