Latest Company & Industry News

UK Car Manufacturing Plummets In April As Brexit Shutdowns Hit Hard

30 May 2019

A press release from the SMMT on the 30th May states that UK car production fell by 44.5% in April with 56,999 fewer units built in an extraordinary month. It went on to say that manufacturing for home and overseas markets was down, by 43.7% and 44.7% respectively. Year to date manufacturing performance shows an […]

Capture & Consent Rates Reach Highest Levels Since GDPR For Dealers

15 May 2019

A recent piece of research carried out by Marketing Delivery shows that UK car dealers customer contact ‘capture and consent’ rates have reached their highest level since the introduction of the General Data Protection Regulation (GDPR) in May 2018. Data was examined from more than 400,000 inbound enquiries on new and used vehicles made to […]

Vehicle Sales Generated Via eMaster Continue To Increase

6 May 2019

Dealer vehicle sales generated by eMaster rose again in April 2019 when compared to the same month last year. Simon Young, FISC’s Managing Director commented, “Once again on a like for like basis, vehicle sales generated from our class leading finance renewal system eMaster continues to defy a struggling market place, growing by 6.51% across […]

British Car Manufacturing Falls 14.4% In March

30 April 2019

Motor industry chiefs have warned a no-deal Brexit could send output back to 1980s levels. According to the Society of Motor Manufacturers & Trader (SMMT), should Britain crash out of the EU and fall back on WTO rules for a sustained period, UK car production is forecast to fall around 30% on recent levels to […]

FLA Relaunches SAF Training Programme

26 April 2019

The Finance & Leasing Association (FLA) has relaunched its Specialist Automotive Finance (SAF) programme. The new scheme is in partnership with The London Institute of Banking & Finance and offers an improved range of training options for dealership staff to boost professionalism, skills and knowledge in the sector. From today, those who successfully pass their […]

eMaster™ Car Sales Increase Year On Year Despite March Registration Fall

5 April 2019

The SMMT released the March 2019 registration figures earlier this week and unsurprisingly with the uncertain political background surrounding BREXIT and continued confusion over diesel, registrations were down 3.4% year on year. Demand fell both in private and business sectors with registrations down by 2.8% and 44.8% respectively, while fleet was stable and up 0.3%. […]

Managing Complaints And Protecting Your Reputation.

1 April 2019

An excellent article recently written by Sean Kemple, Director of Sales at Close Brothers Motor Finance and published online by Car Dealer Magazine. In the article Sean suggests dealerships require a formal pre-sale process to help stay safe and compliant and to help avoid customer complaints arising and protect against future costs . He goes […]

What The FCA Expects From The Consumer Credit Sector

25 March 2019

At a speech delivered by Jonathan Davidson, Executive Director of Supervision – Retail and Authorisations, at the FCA on March 21st at the Credit Summit in London, attendees were left with a very clear view that company culture will be a primary focus under the Senior Management & Certification Regime (SM&CR). In the speech entitled […]

FISC Visited By Rain Rescue’s Edna!

20 March 2019

Earlier this year, FISC was pleased to announce that its nominated charity for 2019 was Rain Rescue. Rain Rescue is an animal charity close to the FISC offices that provides the space and the support needed for abandoned dogs and cats to recover, thrive and find a loving home. As we are approaching the end […]

FCA Publishes Final Findings On Motor Finance Market

8 March 2019

Following the publication of its interim findings into the motor finance market in March 2018, the Financial Conduct Authority (FCA) has now published its final findings on the sector. This report focuses on issues relating to commission arrangements, pre-contract disclosures and affordability assessments. As part of this work, the FCA surveyed 20 motor finance providers […]

eMaster Sales For February Exceeds Market

6 March 2019

UK new car sales showed year on year growth in February of 1.4%, according to the latest figures released by the Society of Motor Manufacturers and Traders (SMMT), in what is traditionally one of the quietest months of the year in anticipation of the new registration plate in March. Alternative fuel cars in particular saw […]

HMRC’s To Change VAT Rules for PCP Sales

4 March 2019

HMRC is to change the way VAT is treated on vehicles sold using PCP as the customer’s finance option. Effectively the change means that PCP sales in most cases will be classed as a supply of services rather than a supply of goods. The change will mean that VAT will be charged on the rentals […]

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