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Motor Trade news for Car Dealers, Mechanics and Valeters from iQuote Insurance - We have a wealth of experience
in the Motor Trade and will help you find the right Motor Trader insurance. Whether your require Garage Insurance or need a Mobile Mechanic Insurance Quote, our services are tailored to the needs of Motor Traders. |
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2011 - European new car sales falling in Q1
The Europe wide figures for new car sales across europe fell by nearly 2 percent in the first quarter of the year. Whilst some countries experienced an increase a number of factors, including economic troubles in Portugal and Greece contributed to the overall reduction. Within the top five markets: Spain, Italy and Great Britain all experienced negative retail figures for new car sales.
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Motor Dealers urged to extend opening hours
Over half of the visits to Car Dealer websites occur outside of the traditional 9-5 office hours. Online enquiries tend to peak, between 7-10pm - but a response is usually not processed until the following day. The automotive director of Google UK stated that the average time for a UK dealer to respond to an online enquiry is 72 hours (compared to just 4 hours in the US).
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Electric Cars create new challenges for Motor Traders
Last week saw the launch of another electric city car, the Citreon C-Zero this type of vehicle is starting to prove popular with buyers in urban areas. The take-up of these new cars is expected to increase, with the current record highs in fuel prices. The trend towards Hybrid and all Electric vehicles provides challenges across the Motor Trade for Car Servicing, Repair and MOT stations.
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Buyer found for Auto Windscreens
The Windscreen repair brand, Auto Windscreens was placed in administration last month (February), when additional capitalisation for the business could not be found. A buyer has emerged for some of the companies assets and use of the brand name. Markerstudy Group a major player in the Motor Trade insurance market, has acquired the business assets from the previous owners a private equity firm.
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UK Government encourages Motor Trade apprentices
The new coalition Government is keen to see an increased uptake in apprenticeships for young people within the Motor Trade. Vince Cable spoke on the issue recently and the government are targeting an additional 100,000 apprentices in UK businesses by 2014.
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Motor Trade facing tough challenges in 2011
Figures for January 2011, indicate a tough trading climate for the Motor Trade during the coming year. The SMMT statistics recorded a fall of 11.5% in new car sales. Increasing unemployment, lack of available finance and increases in VAT and fuel prices are all effecting consumer confidence and personal budgets.
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Motor Trade reports 4x4 values rising fast
Car Dealers are currently trying to satisfy demand within the used car sector for 4x4's. This is largely due to the poor weather conditions and potential for further extreme weather. The increase in demand and prices for SUV's continues unabated despite the increase in fuel prices to record levels.
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Motor Dealers should focus on customer relationships
Freely available pricing information available to consumers online for car prices and servicing costs is driving down Motor Trade profits. To maintain profitable businesses many dealers are investing in improving relationships with their customers.
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Car Dealers launch VAT saving offers
To help encourage demand within the Motor Trade during the traditionally quiet first quarter, some manufacturers and car dealers are offering to absorb the VAT rise. When dealers opened for business they and their customers faced an increase in VAT to 20%, the highest rate since the introduction of VAT within the UK.
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Information for Car Dealers: UK vehicles with the lowest depreciation
A survey by Glass's conducted on vehicles registered three years ago, has produced a list of the top ten cars for maintaing residual values. If you work in the Motor Trade and buy and sell vehicles, this is essential information for your business.
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Car Dealers still purchasing at auction during the freeze
Despite the arctic conditions many of the major vehicle auctions are reporting steady levels of vehicle sales during recent snow and wintry conditions. Many Motor Traders now purchase from auctions using online services and this method of buying saw spikes in usage during the heaviest snow and ice. Some vehicle auctions experienced increases in online bidding and purchase activity of over fifty percent.
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Mobile vehicle valuations for the Motor Trade
There is a new online service for mobile available from Glass’s which provides valuation tools for Car Dealers whilst on the move. The mobile revolution for web usage has continued to grow during 2010 with online traffic from mobiles increasing three-fold. The new service ‘GlassNet Unlimited Mobile’ reflects this trend and the increasing diversity of the Motor Trade.
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Positive annual sales for the UK Motor Trade
The annual figures for new car sales are up by nearly 5% on the vehicle sales for the first ten months of 2009. This is good news for Car Dealers, however figures for October were much lower than last year, as the scrappage scheme was still active in the latter months of last year. This makes the overall annual increase all the more impressive and provides much for motor traders to be positive about for 2011. Read more » |
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Top tips for Traders with iQuote Insurance
When you purchase a Traders Insurance policy, we are committed to providing you with the most competitive deal on your Traders policy. Because you are covering your livelihood and vehicle stock, you shouldn't purchase insurance cover purely on price. You should also consider the level of cover required and whether you require additional benefits such as premises or indemnity cover.
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Car Dealers report increasing demand to beat the VAT increase
Many car dealers are reporting an increase in forecourt demand during the past month, due to the impending VAT increase. In January 2011 the rate of VAT increases from 17.5% to 20% which will have a hefty impact on new car buyers. For example the increase in purchase price on a mid-range Ford Focus will be in excess of £500.
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Traders Insurance in times of austerity
In the past week the coalition government has announced a wide range of spending cuts, that will impact across all areas of society. Whether or not the spending cuts directly effect you and your Motor Trade business, there is likely to be a knock on effect to consumer confidence. With potentially hundreds of thousands less in work and with less disposable income to purchase used or new cars.
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IMI will introduce Electric Vehicle qualification and training for the Motor Trade
Although the Electric Vehicle (EV) and hybrid vehicles are still far from ubiquitous, however they are becoming increasingly popular within the UK. This means that as cars of this type begin to enter the used car market, it is important for consumers to have a level of choice in their servicing.
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Internet Marketing is becoming critical to Motor Traders
Much of the Motor Trade has been slow to harness the power of the internet, as a tool to drive new business, however this is rapidly changing. As consumer patterns are changing, prospective customers are increasingly likely to book vehicle servicing, repairs and purchase vehicles online.
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Car Dealers offering independent scrappage schemes
The government scrappage scheme was widely acknowledged as a huge success within the Motor Trade industry, by the time the scheme had run it's course in March 2010 it had accounted for 400,000 vehicle sales. When vehicle sales had been predicted to plummet, the scheme provided a much need boost for Motor Traders.
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Warnings for Car Dealers on HMRC tax bills
Motor Dealers have been claiming overpayment of VAT on sales of demonstrator vehicles. The claims have been paid with minimal queries by HMRC to dealers who submitted claims.
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Customer complaints on the increase reports OFT
The Office of Fair Trading has reported an increase in the number of used car complaints from consumers, the number of reported complaints has risen to 38,000 during the first half of 2010. From the perspective of car dealers this is causing costs to rise and increases the importance of choosing the right Motor Trade Insurance policy.
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Auto Trader launches iPhone App
The leading site for Car Dealers and Motor Traders to sell vehicles in the UK - Auto Trader, has launched an iPhone App. The expansion of Auto Traders digital offering to the ubiquitous Apple device will expand the reach of Auto Trader across the UK and have a positive impact on Motor Traders who upload their stock.
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Motor Traders profits on the rise
Car Dealers have reported an average profit rise of eighteen and a half percent during the first half of 2010, when compared to the same period in the previous year. The latest figures support the feedback from many motor traders that a fledgling recovery is underway in the vehicle sales sector of the economy.
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Reduction in used car values
According to Motor Trade industry figures - the value of used cars in comparison to the same month last year has fallen by 3%. This is the first time a fall in values has occurred this year.
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Car Dealers need to embrace electric cars
According to a recent industry survey many motor traders and car dealers have been hesitant to become involved in the electric car revolution. Whether electric cars really are the answer to 'green' car use, is still a subject of debate. However there is an increasing popularity with consumers, for both environmental and economic reasons.
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Car Dealers predict price increases in 2010
The Motor Trade is encouraging punters to buy cars before the year is out, to make huge savings on the price of a new car. There is an expected rise for new car prices of six percent, during the first three months of 2010. When this is then combined with...
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Motor Traders need to prepare for the end of scrappage scheme
The governments scrappage scheme has been a victim of it’s own success and is expected to finish before the end of 2009, possibly as early as October. Although the scheme has seen vehicles sales increase and generated 150,000 new registrations; car dealers need to consider the strategy for new car sales within their business.
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20% increase in used car values
Since the beginning of 2009 motor traders are reporting an increase of 20% in the values of used cars. This is particularly timely news in advance of the number plate change at the start of September. You could find when trading your car in for a new vehicle that you are pleasantly surprised.
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Motor Traders asked if scrappage should continue
The vehicle scrappage scheme has had a positive impact on new vehicle sales in the UK. Although due to the investment required to fund the scheme in discounts there have been mixed reactions from manufacturers and car dealers. The Retail Motor Industry Federation is currently discussing with it’s members if they should lobby government to extend the scheme.
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UK car sales up for the first time in 2009
For the first time in 2009, the monthly car sales figures are up on the previous year. In July there was a 2 percent increase compared to figures for July last year. This is widely acknowledged to be a direct result of the governments vehicle scrappage scheme; which has made a more buoyant market for car dealers.
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Are UK customers getting a fair deal from the Motor Trade?
A recent survery of nearly 1,500 car owners found a less than satisfactory experience in their dealings with garages, MOT centres and other outlets within the Motor Trade. Within the survey it revealed that one in five motorists have been charged more than the amount quoted for the service or repair work by their garage or car dealer.
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Motor Traders switch to online marketing
In a recent survey of two hundred car dealers in the UK, the top 3 marketing methods are all internet generated (Promotion of vehicles on their own websites, being coming out top). There has been a pronounced shift away from traditional media to get customers buying cars.
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Vehicle Scrappage boosts sales of Hyundai
The company which has benefited from increased sales is Hyundai, since the scrappage scheme was introduced their UK sales have increased to over 11,000 vehicles. This volume is more than in the previous four months and is bucking the trend of depressed figures elsewhere in the Motor Trade.
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Car Dealers concerned as new car production falls 43% in May
Despite the introduction of the vehicle scrappage scheme new car production has fallen by 43% in May 2009. The first five month of the year have seen new car production fall by 54%, the figures for commercial vehicles...
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Used vehicle values rise for 7th month
The average prices of used vehicles continues rise, based on reported figures at UK vehicle auctions. The figures continue to rise despite the introduction of the government backed vehicle scrappage scheme for new cars.
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Suzuki set to gain Dealer servicing market share
The car maker has joined forces with Motaquip and has launched a servicing program for all makes of vehicles. This is expected to help drive their servicing business forward and help to make up the shortfall in revenue due to the fall in new car sales.
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Vehicle scrappage VAT issues within the Motor Trade
The vehicle scrapping scheme which we campaigned for to kick start new car sales within the Motor Trade, is faultering in the early stages due to confusion over the amount of VAT being applied.
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Used vehicle prices rise for the six month
More good news for the motor trade, the average price of used vehicles continued to rise during April 2009, the values at auction increased by over £50 but the rate of increase is slowing. The increase over the price during April 2008 is +4% taking the average vehicle cost to £5641.
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OFT investigate the Motor Trade and used car sales
Due to the number of complaints from the pubic, related to used car market and the Motor Trade sector, the Office of Fair Trading is conducting a study set to complete by the end of 2009.
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Motor Traders resilient despite the recession
In a recent survey of Motor Traders in the UK, over half were confident of their businesses position despite the tough economic conditions. Less than one in four had immediate fears about their ability to continue to trade...
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Budget confirms cash back for your old banger!
Welcome news for car dealers and motor traders in yesterday’s UK budget, the government has introduced the much touted vehicle scrapping scheme. Starting in May motorists who own a car that is more than 10 years old will receive...
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5k Cashback on electric cars
The vehicle scrapping scheme being planned for rollout on UK vehicles, is already expected to offer users up to £2,500 off the price of a new vehicle when swapping in your old banger. However it is expected that the government will announce...
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New cars cheaper than used cars
In the latest retail figures for the Motor Trade industry, many new cars have been discounted so heavily that you can pick them up for less than the price of a used car. In the first 3 months of 2009 new cars have fallen by over 200,000 units.
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Used car values up for the fifth month
Whilst positive news is thin on the ground in the Motor Trade at the moment, there has been an increase in used car values (at auction) for the 5th month in a row. As the market for new cars falters car dealers are experiencing an increased demand for second hand cars and vans.
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UK to become centre for Electric car production
Nissan and GM are on the verge of committing to build ground breaking electric cars in the UK. The zero emissions vehicles would save existing jobs and could help create additional jobs, if the current trends towards electric vehicles continues.
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Motor Trade backlog of 100,000 cars
Over 100,000 cars are ‘mothballed’ at one single dockyard due to lack of demand. As new car sales have fallen through the floor the motor trade has been forced to stockpile vehicles and cease production on a temporary basis.
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10 tips for Cheap Motor Trade Insurance
Motor Trade Insurance is a very competitive industry, this works in your favour so make sure you shop around in the market. Apply online for motor trade quotes from different insurers, when comparing quotes...
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RMIF call on Government to implement vehicle scrapping scheme
The Retail Motor Industry Federation has again called on the Government to implement a scheme which gives an incentive for owners to scrap vehicles over 9 years old. This has a dual benefit, both environmental and economic...
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Credit Crunch savings for UK motorists
Due to the fall in sales, nearly every car company is offering huge discounts across the range for new vehicles. Traditionally March is the biggest month for sales, with the first registration change of the year...
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Car Dealers losing out on servicing income
In the tough economic climate within the Motor Trade industry the revenue that can be generated through vehicle servicing is a larger proportion of overall income. Within a climate of falling sales this income is of increasing importance.
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Used car values are on the up
Good news for the hard pressed Motor Trader, used car prices are on the rise. Used car dealers are reporting strong used car prices, due to an increase in demand. This demand is a direct result of the weak demand for new cars. Dealers are reporting an increase of £500 for 3 year old vehicles so far this year.
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Motor Trade to take back your old banger
In the European Parliment a new law is expected to be passed that will force the Motor Trade to take back cars at the end of their life. This is being heralded as the returnable car, which will force manufacturers to make vehicles from more recyclable materials.
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Motor Traders encouraged to sign up to code of practice
The Retail Motor Industry Federation has called on all it's members to sign up to the Motor Industry Code of practice (for service and repair). Currently take up is strong within dealer networks, but much lower in the independent sector.
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Dramatic slump in new car sales
The level of registered new car in the UK fell by almost 30% in January 2009, this is a reflection of the lack of consumer credit and poor economic conditions. Hardest hit has been the luxury end of the market, with the reduced number of buyers left in the market looking for more modest vehicles.
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