F&I Management & Training

Nearly two years on from the collapse of MG Rover in April 2005, almost a quarter of the car maker’s former workers are still unemployed. According to a survey by the Amicus union, 23 per cent of its members were still looking for work or on a training scheme. A further 11 per cent had retired or given up work. Of those who had found work, 20 per cent were on the minimum wage, while less than half of those with jobs were still working in the manufacturing sector.

DATED: 06.02.07

FEED: MT

DRESDNER Kleinwort is running an auction of the outstanding loans on Yes Car Credit.
Provident Financial closed Yes Car more than a year ago.
It is estimated that Provident is still owed around £100m by consumers who bought cars through Yes Car. It was closed after heavy losses.
The group is also auctioning off its motor insurance business. The insurance division, which specialises in providing cover to women and older drivers, is expected to fetch around £200m.

DATED: 06.02.07

FEED: AW

HYUNDAI CHAIRMAN, Chung Mong-koo, has been found guilty of embezzlement and other charges and sentenced to three years in jail.
Chung was charged with embezzling WON 69.3bn in order to bribe politicians and officials. He was also accused of causing WON 210bn in losses to the company.

DATED: 06.02.07

FEED: AW

THE RUMOURS surrounding Jaguar's future within Ford has affected sales in the USA.
Ken Gorin, a Jaguar dealer and head of the British brand's Business Operations Council, says the uncertainty must have had an affect.

DATED: 06.02.07

FEED: AW

GIBRALTAR-based insurer, Zenith Insurance Plc, is to underwrite GAP Insurance for AA Warranty. The GAP insurance will be sold initially to AA Warranty customers and through dealerships exclusively under the AA Warranty brand

DATED: 06.02.07

FEED: AW

ENGLISH REPRESENTATIVES of Nanjing Automobile Corporation are to make themselves available for an online, 'Any Questions' session with MG enthusiasts.
The discussion will commence at 1100hrs on Thursday 8th February on www.MG-Rover.org - the world's largest MG & Rover enthusiasts' website.
Fielding questions from enthusiasts worldwide will be NAC's Stephen Cox in the United Kingdom and Paul Stowe in China.
Stowe is quality director with NAC in China, whilst Cox is Longbridge-based and responsible for sales and franchising within the United Kingdom, European Union and other selected MG markets, which will be serviced from NAC's UK base at Longbridge.

DATED: 06.02.07

FEED: AW

NISSAN CHIEF executive, Carlos Ghosn, reported that the car-maker needed additional action plans to meet mid-term goals.
Nissan reported a 23% slide in quarterly net profit for the October to December quarter. It blamed a sluggish recovery in US sales.

DATED: 06.02.07

FEED: AW

NEW MANAGING director of Kia UK, Paul Philpot (40) is determined that the Korean brand will become 'a desirable volume brand in the UK.
"I am looking forward to working with the team at Kia and its dealer network to achieve strong sales growth with profit over the coming years," he said.
Having joined Kia after 9-years at Toyota GB he describes his new job as 'a fantastic and exciting opportunity'.

DATED: 06.02.07

FEED: AW

BCA is seeing evidence that the recent Bank Base Rate increase has contributed to a softening of demand.
"Consumers are cautious and the market is accurately reflecting this reality," said sales director, Mark Hankey.
"Franchised and non-franchised retailers are telling us that retail demand is respectable, but not as strong as expected nor as strong as the same period last year. This means good quality stock is more likely to sell first time for higher prices, while poor quality stock will be picked over and bid what it is worth or left alone."

DATED: 06.02.07

FEED: AW