Motor Trader The award-winning and longest running UK magazine for car retailing professionals. Your first stop for News, Jobs and Reports for the motor industry.
In the April issue of Motor Trader we look at the new Financial Conduct Authority rules on Consumer Duty that come into force on 31 July 2023 and set higher and clearer standards of consumer protection across financial services and require motor finance firms, brokers and dealers to put their customers’ needs first.
It will mean that consumers should receive communications they can understand, products and services that meet their needs and offer fair value, and they get the customer support they need, when they need it.
Dealers need the support of their finance houses to get it right.
Chinese car brands have been threatening to launch in the UK for years, but now it’s finally happening.
In the April issue Motor Trader looks at some of the players and products entering the market and how they are being sold.
BYD already has four UK dealerships, represented by Arnold Clark in Glasgow, LSH Auto in Manchester and Stratstone in Birmingham and Milton Keynes, with a further flagship site – Stratstone Mayfair – due to open in London later in 2023.
Twice a year the NFDA conducts its survey into dealers and what they think of their current franchise. This time around Kia took the top slot. The brand has come a long way since it pitched in the UK with the white walled tyres of the Kia Pride.
The survey also shines a spotlight on franchises in transition. In the case of Mercedes-Benz, with agency, for JLR the overhaul of its network and for Stellantis, its ambitious plans for the brands that fall under the Stellantis umbrella.
This month our Dealer Insight takes a close look at Rainworth Škoda in Mansfield, which has once again won the title of Škoda Retailer of the Year. The group has had past success at the awards, picking up multiple wins over the past five years, including a one-two in 2020.
The group has represented Škoda for over 50 years, with current joint MDs Jon Atherton and Simon Beckett heading up the Nottinghamshire and Yorkshire outfit since 2001. It definitely comes across that teamwork is what makes this company tick.