Friday, May 10, 2013
Strong car finance growth in Q1 2013
Figures published today by the Finance & Leasing Association (FLA) show another double digit increase in the number of new cars bought on finance by consumers through dealerships.
In the twelve months to March 2013, the number of cars financed this way increased by 27%, and by 22% in the first quarter of this year.
FLA members' penetration of the private new car registrations market was 72.9%, up from 71.9% in February 2013.
Commenting on the figures, Paul Harrison, Head of Motor Finance at the FLA, said:
"Used car finance volumes in March were relatively static with the new number plate helping to drive strong growth in private new car finance sales. Our figures again highlight how affordable finance deals are helping to bring people into car showrooms.
"Secured lending - such as hire purchase and personal contract purchase agreements - can often be provided on more attractive terms, as the risk is reduced for the lender and this is reflected in the competitive deals available to customers."
Table 1: Cars bought on finance by consumers through dealerships
| ||||||
Mar-13
|
% change on prev. year
|
3 months to Mar 2013
|
% change on prev. year
|
12 months to Mar 2013
|
% change on prev. year
| |
New cars
| ||||||
Value of advances (£m)
|
1,898
|
+25
|
2,989
|
+29
|
10,073
|
+34
|
Number of cars
|
127,084
|
+18
|
204,254
|
+22
|
699,052
|
+27
|
Used cars
| ||||||
Value of advances (£m)
|
689
|
+2
|
2,013
|
+8
|
7,413
|
+8
|
Number of cars
|
73,509
|
-1
|
215,958
|
+4
|
796,164
|
+7
|
Table 2: Cars bought on finance by businesses
| ||||||
Mar-13
|
% change on prev. year
|
3 months to Mar 2013
|
% change on prev. year
|
12 months to Mar 2013
|
% change on prev. year
| |
New cars
| ||||||
Number of cars
|
37,194
|
-11
|
91,062
|
-2
|
394,615
|
+3
|
Used cars
| ||||||
Number of cars
|
4,260
|
+5
|
21,271
|
+71
|
71,374
|
+51
|
DATED: 10.05.13
FEED: HA
Nissan FY2012 net income at 342.4 billion Yen
Nissan Motor Co., Ltd. today announced financial results for the twelve-month period ending March 31, 2013.
YOKOHAMA, Japan (May 10, 2013) - Nissan faced a range of challenges during fiscal year 2012, yet fourth quarter profitability enabled the company to achieve its full-year net income target. Nissan also generated strong free cash flow and strengthened its balance sheet during FY2012.
Today, Nissan filed the following results with the Tokyo Stock Exchange, based on foreign exchange rates of JPY 82.9/USD and JPY 106.8/EUR, the average rates for the fiscal year ending March 31, 2013:
- Net revenues of JPY 9.63 trillion (USD 116.16 billion, EUR 90.17 billion);
- Operating profit of JPY 523.5 billion (USD 6.31 billion, EUR 4.90 billion);
- Ordinary profit of JPY 529.3 billion (USD 6.38 billion, EUR 4.96 billion); and
- Net income of JPY 342.4 billion (USD 4.13 billion, EUR 3.21 billion).
In FY2012, global sales reached a record-high of 4.914 million units, up 1.4% over FY2011. Ten new models were launched to global markets, including the new Altima in the United States; Sylphy in China; and the Note in Japan.
Carlos Ghosn, Nissan President and Chief Executive Officer, said: "Fiscal 2012 was marked by both successes and challenges for Nissan. We ended the year with a sound balance sheet, record global sales, an improved brand, and an expanded presence in critical growth markets. Equally important, we have taken countermeasures that will enable us to navigate the headwinds that lie ahead and resume significant growth. As we enter the third year of the Nissan Power 88 mid-term plan, I am confident we have the right strategy in place to deliver on our business objectives."
Looking at sales performance in global markets, sales in the US were up 5.4% to 1.14 million units. Sales volume in China, where sales of Japanese brands have been impacted by the island dispute, declined 5.3% year-on-year to 1.18 million vehicles. Across Europe including Russia, sales were 660,000 units, falling 7.5%. In Japan, sales were down 1.3% to 647,000 units. Strong results were reported in other markets, including Thailand, Brazil, and the Middle East; sales totalled 959,000 units, up 16.3% over the prior year.
Nissan solidified its position as the leading automaker for electric vehicles and zero-emission mobility during the fiscal year. More than 62,000 Nissan LEAF units have been sold worldwide since the product's launch. During 2012, Nissan launched production in the U.S. and the U.K. to increase the ability to grow global sales.
FY2013 Outlook
The global sales forecast for fiscal year 2013 is 5.3 million units, an increase of 7.8%. Nissan plans to launch several new vehicles during fiscal 2013; among them will be the first new model of the Datsun brand.
Based on this sales outlook and an exchange rate of JPY 95/USD and JPY 122/EUR, the following is Nissan's pro forma outlook for the fiscal year ending March 31, 2014:
- Net revenue is forecast to be JPY 11.2 trillion (USD 117.89 billion, EUR 91.80 billion);
- Operating profit is expected to be JPY 700 billion (USD 7.37 billion, EUR 5.74 billion);
- Ordinary profit is expected to be JPY 665 billion (USD 7.0 billion, EUR 5.45 billion); and
- Net income is forecast to be JPY 420 billion (USD 4.42 billion, EUR 3.44 billion).
Due to changes in reporting standards, Nissan will use different methodology to account for its financial results from fiscal 2013 onward. Specifically, Nissan will shift to the Equity Method accounting procedures starting in fiscal 2013 for the joint venture between Nissan and Dongfeng in China. Though net income reporting will remain unchanged under the new accounting method, henceforward income statements will no longer include Dongfeng-Nissan's results in revenues and operating profit.
Based on the new reporting method, Nissan today filed the following forecasts with the Tokyo Stock Exchange, based on foreign exchange rates of JPY 95/USD and JPY 122/EUR, for the fiscal year ending March 31, 2014:
- Net revenue is forecast to be JPY 10.37 trillion (USD 109.16 billion, EUR 85.0 billion);
- Operating profit is expected to be JPY 610 billion (USD 6.42 billion, EUR 5.0 billion);
- Ordinary profit is expected to be JPY 645 billion (USD 6.79 billion, EUR 5.29 billion); and
- Net income is forecast to be JPN 420 billion (USD 4.42 billion, EUR 3.44 billion).
About Nissan Motor Co.
Nissan Motor Co., Ltd., Japan's second-largest automotive company, is headquartered in Yokohama, Japan, and is part of the Renault-Nissan Alliance. Operating with more than 267,000 employees globally, Nissan sold more than 4.9 million vehicles and generated revenue of 9.6 trillion yen (USD 116.16 billion) in fiscal 2012. Nissan delivers a comprehensive range of over 60 models under the Nissan and Infiniti brands. In 2010, Nissan introduced the Nissan LEAF, and continues to lead in zero-emission mobility. The LEAF, the first mass-market, pure-electric vehicle launched globally, is now the best-selling EV in history.
Nissan Motor Co., Ltd., Japan's second-largest automotive company, is headquartered in Yokohama, Japan, and is part of the Renault-Nissan Alliance. Operating with more than 267,000 employees globally, Nissan sold more than 4.9 million vehicles and generated revenue of 9.6 trillion yen (USD 116.16 billion) in fiscal 2012. Nissan delivers a comprehensive range of over 60 models under the Nissan and Infiniti brands. In 2010, Nissan introduced the Nissan LEAF, and continues to lead in zero-emission mobility. The LEAF, the first mass-market, pure-electric vehicle launched globally, is now the best-selling EV in history.
DATED: 10.05.13
FEED: HA
Jaguar XF and XJ honoured in Telegraph Motoring and Diesel Car awards
- Jaguar XF named Best Executive Car in The Telegraph Car of the Year Motoring Awards
IN BRIEF
- XJ awarded Best Luxury Car title by Telegraph readers
- XF chosen as Best Executive Car in Diesel Car's 2013 Car of the Year Awards by judging panel
- Jaguar XF Sportbrake and XJ executive saloon shortlisted for awards by Diesel Car
IN DETAIL
It has been a remarkable week for Jaguar as two of its prestigious models - the Jaguar XF executive saloon and the Jaguar XJ luxury saloon - receive recognition from national newspaper The Daily Telegraph and specialist automotive publication Diesel Car.
At the inaugural Telegraph Motoring Awards, the Jaguar XF beat competition from other premium car manufacturers to claim the Best Executive Car award, while the all-aluminium Jaguar XJ was named Best Luxury Car ahead of several more expensive competitor models.
Erin Baker, Head of Motoring at Telegraph Media Group, said: "Our discerning readers have always been fans of British luxury. The Jaguar XF and XJ are deserved winners, thanks in no small part to their eye-catching designs and the rewarding driving experiences they offer."
The Jaguar XF received the Best Executive Car title in Diesel Car's 2013 Car of the Year Awards, the fifth consecutive year the XF has won the award. The recently-launched Jaguar XF Sportbrake was a finalist in Diesel Car's premium estate car category, and the Jaguar XJ was shortlisted in the luxury car category.
The awards are chosen based on a stringent test programme undertaken by Diesel Car's team of award-winning writers. Announcing the win for Jaguar, Diesel Car Editor Ian Robertson said: "We're big fans of the XF, a big cat that prowls the roads with a sinuous presence."
DATED: 10.05.13
FEED: HA
FTA welcomes Report on UK hub capacity
Following today's publication of the House of Commons Transport Committee Aviation Strategy report (Friday 10 May) and its rejection of plans for a new Thames Estuary Airport the Freight Transport Association (FTA) has supported the Committee's view that expansion of capacity at Heathrow is essential to maintain London's international hub status.
As part of its evidence before the Committee as part of this Inquiry in January 2013 - FTA stated that due to its location, close to the UK's economic centre, London, and its connection to global passenger flight networks meant that it considered Heathrow as the only UK airport that can fulfil the vital role it plays - keeping UK goods and passengers connected to scores of global destinations; and thereby supporting UK trade.FTA also said while UK regional airports play a vital role for the UK economy they are not able to replicate Heathrow's role as a major international hub in terms of the wide range of services that British industry needs to compete internationally. Even population centres such as Rome and Berlin do not support such a Hub for aviation; it is therefore inconceivable that anywhere in the UK but London could do so.
In light of this, FTA suggested that Heathrow should be allowed to expand - specifically via the development of a third runway, as this would appear to be the only cost effective option for addressing the capacity problem.
However, despite the Transport Committee acceptance of FTA's evidence, the Association has voiced its disappointment that the importance of freight, which represents over a third of UK imports and exports by value, has not has not been more fully considered in the report, particularly in view of its contribution to the economy and wider aviation sector more broadly.
Aviation policy can only be effective if freight issues are given full consideration; particularly given that freight carried on board passenger aircraft in many cases makes international air line routes more viable; and that logistics is a vital component to the UK's route network and overall economy both as an employer and in terms of the economic activity reliant on it.
Chris Welsh, FTA General Manager of Global and European Policy, said:
"The headline findings of the Committee are welcome - as FTA said to the Committee we are open to the possibility of a future airport elsewhere but Heathrow is our Hub airport now, it is full now; and as things stand today Heathrow is the best case for a London Hub airport."
"The Committee is correct to draw attention to the poor surface access by road and rail to London's airports - and given that Heathrow is the busiest freight airport in the country, and so much economic activity relies upon air freight across the UK, it is critical to the economic recovery that the nation can demonstrate it is open for business with a smooth and reliable journey from our international gateways.
"It is just a little disappointing that the importance of air freight is somewhat underplayed; and we would encourage the Government to work with industry to fully understand the importance of air freight to the UK economy."
DATED: 10.05.13
FEED: HA
MG in bonus race for Midlands cycling fans
MG's crack women's cycling team will be fighting it out in a bonus race for fans of Britain's biggest growing sport.
Changes to the 2013 racing calendar mean that the MG Maxifuel Pro Cycling team women will now be racing in Redditch on June 4 which coincides with one of the biggest events in the men's racing schedule.
So Midlands fans will get top see both squads in action.
MG Maxifuel team principal, Rod Freeman, said: "The women's race in the top Johnson Health Tech Grand Prix Series had to be re-arranged and moved to Redditch, but it's a real bonus for us and Midland fans.
"One of the top men's races is on the same night so the MG Maxifuel team will be out in force. With these being the closest races to the MG factory in Birmingham we expect to get lots of local support."
The MG Maxifuel Pro Cycling team is currently third in the British Racing Road & Track rankings in which several hundred of Britain's top teams are listed.
This weekend the men take on one of the toughest races in the British Cycling Premier championships in Lincoln. More than 160 of the UK's top riders, including some of the 2012 British Olympic team, will tackle the 102 mile University of Lincoln Grand Prix on Sunday.
They will fight it out over 13 laps of a course that takes the riders through the heart of Lincoln's tourist area including the cathedral and castle.
The sting in the tale of the Lincoln event is the 1in 6 Michaelgate Hill in the city centre. Apart from the sheer steepness of the incline, the roadway is also cobbled and can be treacherous in the wet.
But the MG Maxifuel team, which includes two MG6 GT support cars, is confident it will emerge with further points to add to this season's tally.
DATED: 10.05.13
FEED: HA
Rare Bug sighted: Limited edition Volkswagen Beetle GSR now available
- Just 100 Beetle GSR models will be offered in the UK, with 3,500 worldwide
Unveiled earlier in 2013 at the Chicago Auto Show, the Beetle GSR has a unique design and powerful 210 PS turbocharged engine. A real limited edition, just 3,500 of these cars will be made worldwide, and 100 of them are being offered to UK customers. The GSR has a legendary predecessor, the ‘Yellow-Black Racer' which was based on the Beetle 1303 S and made its debut 40 years ago [NB ‘GSR' stands for ‘Gelb-Schwarze Renner' in German, which means ‘Gold-Black Racer']. Only 3,500 of the original model were produced as well.
Volkswagen has re-interpreted the concept of the 1970's GSR for the modern era. Just like the GSR from days gone by, the body of the new version is yellow. The bonnet and the bootlid of the 1973 Beetle were painted in matt black, as were the bumpers, while black trim strips underneath the side windows and black/yellow side stripes above the door sills rounded off the look. Now, yellow and black are the link between old and new - the bonnet and the bootlid of the new Beetle GSR are black once again, and this time so are the roof and the exterior mirror trims. Black/yellow stripes with ‘GSR' lettering ensure a unique silhouette above the side sills. Yellow painted bumpers in new R-Line design and a larger than standard yellow and black rear spoiler complete the GSR look. Unlike the older Beetle - and for those who prefer something a little more subtle - the new Beetle GSR can also be ordered in Platinum Grey and Black.
While the 1973 GSR came with 15-inch steel wheels with 175 size tyres, the latest model features 19-inch ‘Tornado' alloy wheels with 235/40 tyres. The black/yellow interior of the GSR from days gone by featured a leather sports steering wheel and sports seats. Four decades later, customers demand more, and the GSR comes with R-Line racing seats (with fabric covers and contrasting yellow stitching), a high-grip leather sports steering wheel (also with contrasting yellow stitching) and a badge with the car's special-edition number (1 to 3,500). The car also boasts an R-Line dash pad, GSR gear stick, leather handbrake lever gaiter and black floor mats with contrasting yellow embroidery.
Forty years ago, the yellow/black Beetle needed just 50 PS to turn the world of compact cars on its head. These days, it takes somewhat more than that to make headlines, and with its 2.0-litre turbocharged 210 PS engine the GSR needs just 7.3 seconds to accelerate to 62 mph. It has a top speed of 142 mph, 280 Nm of torque from 1,700 rpm to 5,200 rpm, and is expected to return a combined fuel economy of 38.7 mpg with CO2emissions of 169 g/km. The new Beetle GSR can be ordered with either a six-speed manual or DSG gearbox. The manual Beetle GSR costs £24,900 (OTR RRP) with a £1,500 premium for DSG. The car is available to order now with first deliveries expected in September.
Customers who don't manage to secure one of the UK's 100 Beetle GSR models can still get their hands on a faster Beetle: all 2.0-litre TSI models factory ordered from 1 May come with the upgraded engine, offering 210 PS, rather than the previous model's 200 PS.
DATED: 10.05.13
FEED: HA
RHA welcomes increase in bad driving fines
The Road Haulage Association welcomes the news that Transport Minister Patrick McLoughlin is considering increasing the fine for dangerous driving offences, including texting or making a phone while behind the wheel, by 50%.
This means that the fixed penalty for using a handheld device while driving would go up from £60 to £90, while other offences like running a red light, driving without a seatbelt and speeding will also fetch a higher charge.
Under the new plans that are being discussed careless driving will be treated as a fixed-penalty notice that will come with three points and a £90 fine. Other offences will include cutting up other drivers, tailgating, hogging the middle lane, driving at an inappropriate speed, eating and lighting a cigarette at the wheel.
"This is good news for all road users," said RHA spokeswoman Kate Gibbs. "The Road Haulage Association is the only UK organisation that focuses solely on UK hauliers. Our members are professional road users, operating to the highest standards. The vast majority have strict codes of conduct in place which govern the behaviour of their drivers - it is likely that the rules regarding the use of hand held mobile devices is top of just about every employer's list. Using a mobile phone while behind the wheel isn't just a distraction for the driver in question - it can put all road users, including pedestrians, at risk.
Traffic Commissioners, responsible for issuing and revoking a haulier's Operators Licence, can also take action against HGV licences independently of the normal licence system - the punishment for such an offence can result in the licence being suspended for as long as the TC sees fit.
"There's a very simple and straight-forward way to avoid these fines", concluded Kate Gibbs. "Don't do it in the first place!".
DATED: 10.05.13
FEED: HA
BMW’s new way of selling cars: it’s Genius
BMW has started the national roll-out of a ‘BMW Genius' programme at UK dealerships following a highly successful pilot scheme in 2012.
Each BMW Genius will be steeped in the increasingly sophisticated technologies and personalisation options available from BMW to help guide customers through every step of the ordering, buying, test drive and handover process, and will be on call to help with any subsequent queries or service updates.
Feedback from the pilot programme, conducted at 10 BMW dealerships who collectively employed 14 Geniuses, produced an extremely high level of customer satisfaction. Customers highly rated BMW Geniuses for their product knowledge, ability to explain the features and functionality of the model range and their willingness to meet individual needs.
The BMW Geniuses will initially work alongside existing sales executives and business managers.
New buying challenges prompted Genius conceptBMW pioneered the increasing personalisation of cars in recognition of the fact there is no longer any such thing as "one size fits all". Some of the sophisticated technologies and options now offered on a BMW have multiple uses and the potentially hidden gems of these systems can really be brought to the fore with the help of BMW Geniuses. They can demonstrate and explain technologies such as EfficientDynamnics, alternative drive systems, ConnectedDrive, xDrive, mobile solutions and Head-up Display, either one-to-one or at workshops and customer events. The focus is always on the individuality of each customer. The BMW Genius programme also removes the "sales pressure" element from initial contact with customers.
The BMW Geniuses have a youthful and flexible attitude, are tech-savvy and able to communicate how things work and how customers can get the best from them. They are keen on cars, but not necessarily from a motor industry background. They can be identified by BMW Genius polo shirts, and will use modern communication tools such as Virtual Product Presentation - enabling customers to build the model they intend to buy in 3-D on a 47-inch screen - linked to an iPad app for configuring cars.
Kevin Davidson, Dealer Development Director, said: "The BMW Genius programme has proved that BMW offers its customers the most up-to-date, forward thinking way of engaging with them on a level they'll feel comfortable with. Buying a new car is a huge decision for anyone so having highly knowledgeable people alongside our existing professional staff in increasing numbers of dealers across the country is a large positive step forward."
Some 30 BMW dealers already have BMW Geniuses in place now with more than 100 dealers planning to have the highly trained staff in place by the end of 2013. Priority will go to those who will be involved at the start of the introduction of BMW i, the company's alternative powertrain sub-brand. New starters are being sought onwww.bmwretailjobs.co.uk
DATED: 10.05.13
FEED: HA
Mercedes to introduce new twin-turbo V6 to the UK
Mercedes-Benz will introduce a new V6 petrol engine to the UK with the arrival of heavily revised versions of the E-Class Coupé and Cabriolet.
It is a 3.0-litre twin-turbo unit which replaces the turbocharged 4.7-litre V8 in the outgoing models, with significant improvements in fuel economy and emissions.
The new V6 develops 330bhp for the E400 Coupé and Cabriolet. That puts it between Mercedes' exisiting 3.5-litre single-turbo V6, which develops 303bhp, and the 404bhp of the outgoing V8.
The twin-turbo engine has been tuned to deliver the effortless torque befitting a touring coupé or convertible rather than to masquerade as a pseudo racing engine. Its 480Nm is available between 1,400rpm and 4,000rpm.
The official fuel consumption and CO2 emissions of the E400 Coupé are 37.2mpg and 177g/km, while for the heavier Cabriolet they are 35.8mpg and 185g/km. These are improvements of up to 5.5mpg and 32g/km over the figures for the V8 models.
Mercedes describes the 3.0-litre V6 engine as "all-new, but with some parts from the 3.5-litre V6". The original plan was to add a second turbo to the 3.5-litre unit, but Mercedes discovered it could get the performance it wanted with greater efficiency from a smaller-capacity twin-turbo engine.
The 3.5-litre engine will remain in production for customers in other markets who want V6 power at a lower cost, while the V8 remains an additional offering outside the UK. Mercedes says there are no plans to fit the twin-turbo engine to UK versions of the E-Class saloon and estate, which are sold primarily with diesel engines, but that the decision could be revised if there is demand.
DATED: 10.05.13
FEED: HA
Headline News: New E-Class Cabrio tilts its cap – automatically
Mercedes-Benz has created a car that automatically raises its ‘cap' to the driver and passengers.
Three years ago the company revealed its innovative Aircap system in the then-new E-Class Cabriolet. It consisted of a slender mesh spoiler on top of the windscreen header rail to channel air over the cabin when the car was being driven with its canvas roof down.
In conjunction with another mesh screen between the rear headrests, it allowed four occupants to travel unruffled, even at motorway speeds. But the screens had to be raised or lowered by the driver via a button.
However, in the updated E-Class Cabrio which goes on sale next month, both are now fully automatic.
The Aircap pops up as soon as the car reaches 25mph and lowers again when the speed drops below 10mph. It takes its readings from a sensor in the speedometer, linked to the car's electronic circuits.
The rear mesh rises as soon as someone buckles up in one of the back seats. At the same time the rear headrests and roll-over hoops are lifted to a mid-position for greater comfort and protection.
To prevent the Aircap going up and down like a fiddler's elbow in stop-start traffic, the system has to be first activated by the driver, but after that it functions without any intervention until disabled again.
Th new system is standard in the revised E-Class cabrio, which will initially be available with a choice of two 2.1-litre turbodiesel engines, a 3.0-litre V6 diesel and a new 2.0-litre turbocharged petrol engine.
A new 3.0-litre V6 twin-turbo petrol engine, replacing the 4.7-litre V8 in the outgoing model, will be added in October.
There will be SE and AMG Sport versions for most of the range and a unique AMG Sport Plus trim level with the twin-turbo engine. They provide up to £3,700 worth of extra equipment for price increases which vary from £2,095 to £2,435.
DATED: 10.05.13
FEED: HA
Citroen dealer forced to pay out over £1,000 in compensation
A CITROEN dealer has paid out over £1,000 in compensation to a customer after falling foul of the Sale of Goods act.
Freeborn Garages’ Citroen dealership in Southampton, Hampshire, sold the Rev Carl Chambers an ex-demonstrator C4 Picasso.
But after 16 months the car broke down in the middle of a family holiday in France, forcing Chambers to spend hundreds of pounds to get home.
The car was picked up by Citroen’s breakdown service where it was discovered the gearbox selector had broken and would take weeks to fix.
Chambers asked for a hire car from Citroen but they refused. Instead, he had to pay to hire a car for the rest of the holiday, fly himself and his family home, hire another car in the UK, then fly back to France to drive the original car back once the problem was fixed.
He had spent around £600 on hire cars alone – with flights and other costs on top.
Citroen paid for the repairs but refused to cover all the extra costs, arguing they weren’t liable because he didn’t have the extended warranty and breakdown insurance.
Chambers decided to use the 1979 Sales of Goods Act to get compensation.
Speaking on the BBC consumer rights show, Watchdog, Chambers said: ‘The Sale of Goods Act gives great power to consumers, who I don’t think know quite how powerful it is.
‘I like to think I am mild mannered person but I do believe in justice.’
Brighton county court ruled in his favour for consequential losses and Chambers received £1,345.16 in compensation.
Fit for purpose
The Sales of Goods Act states any goods sold must be of satisfactory quality and also reasonably fit for purpose. The contract of goods is between the seller and the buyer – and not the manufacturer.
So in the case of a car, the garage that sold the car is responsible.
The act crucially also states: ‘The product you brought must remain of satisfactory quality for a reasonable amount of time, whatever the length of the warranty.’
Watchdog interviewee Mark Weston, a commercial lawyer, explained that for a new or ex-demo car, at least two years of the car performing satisfactorily would be considered reasonable.
‘I had no idea how powerful the Sale of Goods Act was,’ said Weston. ‘I certainly think more people should know about it.’
Freeborn Garages said in a statement to Watchdog: ‘As a responsible dealer it would always comply with all current UK legislation as confirmed by its action in this case.’
Car Dealer Club’s legal firm Lawgistics told us: ‘Consequential losses consist of any money that flow from the original problem, as long as they are reasonable and foreseeable.
‘The court would look to see if a customer has contacted a dealer to report any problems and make an attempt to protect himself from these losses. If they do so and the dealer does not or cannot help, then the dealer will be liable for these costs.
‘It has happened in the past that a dealer in the UK, faced with a similar problem, sent a part over to France so the car could be fixed ASAP, saving themselves from these consequential losses.’
DATED: 10.05.13
FEED: CD
BMW takes to Indian market with ‘mobile showrooms’
INDIA is widely understood to be one of the world’s up and coming markets for car sales – particularly for prestige manufacturers.
And rightly so: with the second-largest population in the world, India represents huge sales opportunities. At over a million square miles in size, however, creating a dealer network to reach them is almost impossible.
BMW has come up with an innovative solution to the problem, though – touring its vehicles around the vast country in a mobile showroom.
The weather-proof, air conditioned structure is designed to feel similar to BMW’s usual showrooms – bringing some of the brand’s usual luxuries to areas of the country outside of its current network.
Buyers can test drive a number of models – the X1, 3, 5 and 6 Series – and can chat with ‘product experts’ in a VIP lounge.
The mobile showroom also gives BMW the perfect opportunity to test particular areas of the country for take-up before establishing a fully-fledged dealership in that location.
Currently the group has around 28 showrooms in the country, but is said to be looking to expand – with dozens more to follow by the end of next year.
Philipp von Sahr, president of BMW group India, highlighted the fact that BMW was the first luxury maker to bring products directly to customers in this way.
‘BMW India is the pioneer in bringing luxurious dealerships to India,’ he said. ‘We are the first luxury car manufacturer in India to take this experience a step ahead and closer to our customers in the emerging markets with the BMW Mobile Showroom.
‘Today, BMW India has millions of fans and many of them come from emerging cities. With this unique travelling showroom, we wish to bring as many customers to the BMW fold and make them experience BMW and the sheer driving pleasure.’
DATED: 10.05.13
FEED: CD
Auto Trader magazine to be axed in June
TRADER Media Group has announced it will cease publishing its iconic Auto Trader magazine, with the last printed edition of Auto Trader to be published in June after years of declining sales.
The weekly magazine is to be axed nearly four decades after it first landed, with another four titles – Top Marques, Truck and Plant, Van Trader and Farm Trader – also to close their print editions.
Auto Trader’s circulation has plummeted from peak sales of 368,000 in 2000 to just 27,000 last month, as car buyers headed online – and the Auto Trader website took off.
The final issue of the magazines will be published on 28 June 2013 and will be available in a five page front cover pull out collector’s edition, featuring the most popular cars from the last 36 years. A limited ‘digital’ edition – a magazine cover incorporating video content – will also be available as part of a competition hosted on autotrader.co.uk in June.
Zillah Byng Maddick, interim CEO at Trader Media Group, said in a statement: ‘Trader Media Group’s magazines have played a key role in the Group’s 36 year heritage and we are very proud of the market position our brands have achieved during that period.’
Trader Media Group confirmed the decision will mean 150 job losses across the five titles. The move means Auto Trader will now solely exist online, and the site receives more than 11 million unique visitors each month to its website and over three and a half million access the mobile site.
Maddick added: ‘With a marked shift by consumers and dealers to online platforms as a means of accessing information and buying and selling vehicles, we continue to innovate to ensure that we offer them the products and services they require through their channels of choice.’
DATED: 10.05.13
FEED: CD
Locals love Dick Lovett’s plans for a new Porsche Centre
PLANS for a new Porsche dealership on the M5 near Tewkesbury, Gloucestershire have been praised by local councillors.
The proposal from Dick Lovett Companies Ltd would be a prominent and large showroom close to the junction nine roundabout on the M5.
A Dick Lovett spokesman told theGloucestershire Echo : ‘This development will create an impressive feature on the edge of this major road system and entrance gateway to Tewkesbury.’
The showroom would add to the company’s centres in Swindon, Bristol and Cardiff, and the two and a half acre site would include a large showroom, service centre and customer car park.
Tewkesbury town mayor Ken Powell said ‘It’s good news and should provide a bit more extra employment for the town. That piece of land has been empty for a long time.’
Shopkeeper Nickie Philipson-Stow, a member of Tewkesbury Chamber of Commerce’s committee said: ‘A Porsche garage will be lovely, very smart and a good investment in Tewkesbury.’
The corner plot, between Travelodge and communication firm RR Donnelley, has been available for development for years.
The Dick Lovett spokesman added: ‘Porsche, as well as all other makes of specialist cars, require a large display area per car making for a larger showroom and workshop than would normally be required.
‘On a site of this size in this location, a development such as this can be easily accommodated and will not increase vehicle traffic excessively in the area. The proposed height of the building is no higher than any of the surrounding buildings and the proposed floor area is far smaller than some of the properties in the industrial adjacent estate.’
DATED: 10.05.13
FEED: CD
Kia dealer expansion hits local opposition
PLANS to upgrade a Kia dealership in Lee-on-the-Solent, near Portsmouth, have been hit with local opposition.
Family-run Fine Cars, based in Gosport, has outgrown its premises – hoping to grow its site by knocking down two of the surrounding houses.
Expanding the dealership, say owners Brett and Howard Duke, would allow Fine Cars to improve their aftersales and workshop activity – including being able to replace customers’ tyres.
The expansion would also aide the dealer’s customer facilities – bringing 11 off road parking spaces with ‘improved access’ to the showroom.
‘All we’re really trying to do is secure jobs, and at the end of the day, keep the business going,’ said Brett Duke. ‘It’s not an expansion or the business growing, it’s not actually about that.
‘We have standards to comply to as well, we can’t just drift along forever
with the same old machinery and the same systems in place. Every now and again we have to raise the bar.’
Planning officers have received ‘nearly 200′ letters over the plans, and while many local residents are in support, some still object.
Geoffrey Park, whose house borders the dealership, expressed his concerns at the plans to the Portsmouth News, saying:
‘There are few parking spaces outside of the properties in the vicinity of the Fine Cars garage as they are permanently occupied by customers’ cars attending the garage.
‘This is an almost entirely residential area and in my opinion more commercial development should not be allowed.’
Another, Sheila Baron, was concerned that solar panels on her house may be obstructed, saying: ‘This proposed extension is far too large and intrusive for the area.’
DATED: 10.05.13
FEED: CD
JCT600 reports ‘strong’ trading performance
FAMILY-owned Yorkshire car retailer JCT600 has reported a strong trading performance with turnover growing to £669m in the year to December 31, 2012.
The figures from the firm’s annual results show a 7.4 per cent increase from £623m in 2011.
JCT600 say the £46m increase in turnover was driven by a 17.8 per cent rise in new car turnover and a six per cent rise in used car turnover. The Bradford-based company also increased new retail registrations by 16.3 per cent, staying ahead of the national average (12.9 per cent).
The group, which has 47 dealerships throughout Yorkshire, Derbyshire, Lincolnshire and the north east, saw aftersales turnover increase by 0.8 per cent in 2012, supported by an improved customer contact system and electronic vehicle health check service.
‘While 2012 has seen on-going economic uncertainty, we have continued to weather the storm,’ said JCT600 group chief executive John Tordoff (pictured).
‘We expect the improved customer confidence we’ve seen over the last year to continue and already we’ve experienced a strong start to the year with new and used car sales ahead of the market as they were last year.’
DATED: 10.05.13
FEED: CD
HR Owen to open new Lamborghini dealership
HR OWEN will add to its dealer network with a new Lamborghini dealership in Pangbourne, Berkshire.
The addition of Lamborghini Pangbourne provides a total of six UK dealerships for HR Owen, the UK’s largest luxury car dealer. Located west of Reading, the new CI-compliant showroom will serve an important region on the M4 corridor and will formally open later the year.
The dealership will join HR Owen’s Lamborghini locations in London and Manchester.
HR Owen, who operate franchises in the prestige and specialist car market, can trace its roots back to its formation by Harold Rolfe Owen, who opened a dealership selling Bentley and Rolls-Royce cars in 1932.
The UK is Lamborghini’s third largest market by volume behind the USA and China. Its current range features the flagship V12 Aventador LP 700-4 coupe and Roadster and the V10 Gallardo and throughout 2012, Lamborghini increased deliveries to customers worldwide by 30%.
DATED: 10.05.13
FEED: CD
SMMT: New car registrations jump 14.8 per cent in April
NEW car registrations jump 14.8 per cent in April, according to the SMMT.
163,357 units were registered in the month – securing the strongest growth in 14 months – and was aided by a strong increase in private registrations, up over 30 per cent on the same time last year.
Registrations in the first four months of 2013 were also up – rising 8.9 per cent to 768,555 units – causing the SMMT to revise its full year market forecast, now up around 50,000 to 2.106 million units.
In addition to private, fleet and business registrations saw slight rises – up 0.8 and 8.5 per cent respectively – and the UK continues to outperform other European markets.
The figures mean that April 2013 has been the most fruitful since 2008 – a month when the scrappage scheme was still in full force.
The SMMT puts the jump down to a number of March registrations being pushed into April thanks to high demand.
‘The UK new car market continues to perform surprisingly strongly, with volumes again increasing in April. While the headline increase was up almost 15% there were more sales days this year than last,’ said SMMT interim chief executive, Mike Baunton.
‘The UK continues to perform well ahead of the troubled Eurozone as consumer confidence, regular purchase cycles, attractive finance deals and wider market factors continue to make new car buying favourable for motorists.’
DATED: 10.05.13
FEED: CD
BCA: Values fall slightly in April
AVERAGE values of vehicles sold across BCA’s auction rooms fell slightly in April, according to the group’s Pulse Report.
Values last month averaged £6,502 – a drop of £498, or around seven per cent compared to March this year. The drop, says BCA, can be attributed to both a change in model mix and a rise of volumes within the marketplace – with buyer demand dropping slightly.
Year-on-year values remained strong, however – up 16 per cent on the same period in 2012, demonstrating that a shortage of supply is still an issue.
Nearly new vehicles saw the most significant change on last month, with average values dropping from £21,075 in March to £19,663 in April. Similarly though, values remained strong against last year’s figure – up from £17,917.
Part exchange values, on the other hand, have stayed strong since the initial jump seen in December last year – now £3,595, and still significantly higher than April 2012′s figure of £2,812.
‘Post-Easter, buyer demand has weakened and stock availability has improved with the inevitable result that there has been some pressure on values and conversion rates,’ said BCA’s UK operations director, Simon Henstock.
‘That said, we are still seeing plenty of interest in well-presented retail quality vehicles and here values continue to outperform price guide expectations. The stronger demand at the budget end of the market continues, meanwhile, and values for dealer part-exchange vehicles continue to rise.’
DATED: 10.05.13
FEED: CD
Jaguar F-Type
What is it?
Quite simply, this is the most important Jaguar for more than 50 years. Not since the iconic E-Type has Jaguar launched a new model into this segment, and boy has the wait been worth it. The stunning F-Type is the British manufacturer’s new halo model – a high performance, two-seater convertible that’s charged with ‘changing the face of the brand’. Buyers are already queuing up for them, with a six-month wait already in place, and that’s before any of them have driven it. As soon as more potential punters get behind the wheel that wait is going to get longer. A lot longer.
What’s under the bonnet?
There are three different models – the F-Type, F-Type S and F-Type V8S. The first two are V6s and the latter, obviously, a V8. All units are supercharged. The standard F-Type has a 3.0-litre V6 with 335bhp, 450Nm, hits 60mph in 5.1s and tops out at 161mph. The middle of the range F-Type S hits 60mph in 4.8s and cracks 171mph thanks to 375bhp and 460Nm. The range topping 5.0-litre V8S has a frightening 488bhp, 625Nm and tops 186moh with 60mph dispatched in 4.2 seconds. They all feel rapid and sound absolutely incredible thanks to an exhaust system which took 18 months to develop.
What’s the spec like?
Will buyers really care when the car looks as good as this? We doubt it. However the golf club set will want some toys and fortunately there are loads. Highlights include the eight-speed automatic gearbox (standard), the multi-adjustable sports seats, and Meridian sound system (not that you’d want to listen to it). There are some brilliant design touches too – like the central heater vents that rise out of the dash when you turn the air con on. And the deployable door handles that pop out of the bodywork. Ian Callum we salute you!
What’s it like to drive?
Incredible. Make no mistake, if you’re thinking this is simply an executive car park posing machine you couldn’t be more wrong. This is a drivers’ car through and through. We spent plenty of time in all derivatives and loved the crisp steering, the rapid eight-speed paddle shift box and the sound – oh my god the sound. Under acceleration all versions sound brilliant, and fizzle, crack and pop on the overrun. It feels a lot lighter than it looks – with extensive use of aluminium in the construction helping here. On the track it’s nimble and involving and huge fun while on the road it’s nothing short of intoxicating. We’d go as far as saying this is the best driver’s Jaguar ever.
What do the press think?
Well, we wrote this review and sent the magazine to the printers before the embargo lifted on reviews, so it was impossible to tell. However, several publications had passenger rides in the car earlier this year. Back then Autocar said: ‘The F-Type has the soul of a responsive, agile sports car.’ Pistonheads added: ‘Apparent is the Jaguar-like ability of breathing across road surfaces, keeping harshness at bay’. We’d be surprised if most magazines gave the F-Type anything less than five stars.
What do we think of it?
It’s the car of the year, without a shadow of a doubt. We knew the F-Type was going to be good, but just how good is shocking. Our pick of the range would be the V6S – it’s just as much fun to drive as the V8, sounds just as brilliant, and the peaky power delivery is stunning. But the real coup is the pricing – every model is 25 per cent less than the equivalent 911, its bitter rival. On a track, we’d hazard a guess at the 911 being quicker, but the German’s abilities aren’t worth the extra money. Jaguar is going to have it away with this car – it’s a game changer for the manufacturer – and we feel honoured to have been there at the start of it.
DATED: 10.05.13
FEED: CD
