All articles by Charles Wheeldon
Charles Wheeldon
New integration gives dealers access to GMAC
Industry giant GMAC has adopted the DealTrak123 motor dealer finance system, allowing Vauxhall, Saab and Chevrolet dealers to use it to send finance proposals direct to GMAC, the exclusive provider for all three manufacturers. GMACs national sales manager Barry Willson said: DealTrak123 has a proven track record in the motor finance industry and by integrating with the system GMAC has access to a large network of dealers who use the system daily
March auction boom puts pressure on sellers
Auctioneer BCA reported very little fluctuation in used car prices in March, but said increased sales volumes and falling conversion rates were making life more difficult for fleets selling large volumes of cars Volumes of cars auctioned rose by a significant 11.5% compared to February, underlining a March market that was reasonably bullish particularly when placed in context of the 4% drop in volumes experienced between January and February
11-plate registrations beat expectations
The launch of the new 11-plate led to366,101 new car registrations in March, 7.9% fewer than in March 2010, according to latest statistics from the SMMT
Used car margins to improve for dealers
The April issue of the CAP Black Book contains better news for used car dealers, after successive monthly value increases during the first quarter of the year. Despite the squeezed margins experienced by used traders at present, the Black Books editor Tim Bearder reports that 2011 has so far been a very strong period for the used car business, with several major dealer groups saying that the first quarter was their best trading period for a long time.
Tsunami leaves production uncertainty in its wake
Nearly three weeks after the catastrophic tsunami and earthquake that struck Japan on 11 March, UK vehicle retailers are still uncertain as to the impact the disaster will have on supply levels and prices. The giant waves that claimed a tragic human toll also wiped out a substantial number of the countrys vehicle components factories, some of which are the sole worldwide manufacturers of the parts they make PSA Peugeot Citroen, for example, has lost its source of lambda sensors, which has shut down its production of diesel cars many of which were destined for the UK market.
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BVRLA to launch accreditation programme for broker sales staff
The British Vehicle Rental and Leasing Association (BVRLA) is launching an online accreditation scheme for sales staff working for its 100-plus leasing broker members. To gain the accreditation, candidates will study a number of modules, covering corporate and industry governance, regulatory compliance, business vehicle acquisition methods and products, sales skills and tax issues
High auction prices means mixed news for dealers
Commercial vehicle dealers are enjoying a traditionally robust start end to the years first quarter, as small businesses seek to buy vans before the end of the tax year. Manheim Auctions has reported brisk business in the past few weeks at its seven CV auction halls while a large number of end-users are buying direct at auction, dealers remain busy due to businesses investing in replacement vans.
Help with CIF
Motor finance providers have been offered a free service to prepare them for the imminent Continuous Insurance Enforcement (CIF) regulations as a result of a new tie-up between the Finance and Leasing Association (FLA) and the Motor Insurers Bureau (MIB). Lenders will have access to the MIBs vehicle insurance database, allowing them to satisfy themselves that vehicles have the appropriate insurance cover required by credit agreements.
Integrated service
Solicitors Stevensdrake is opening its Recovery of Goods Centre this month to aid motor finance companies with recovery of goods, debt collection and litigation. The nationwide network aims to provide an integrated service including securing recovery of goods actions, collection, inspection, refurbishment and re-marketing of vehicles, and shortfall or end-of-contract claims.
DMS systems can’t keep up
He said: “During and since the recession, most dealers have altered their footprint by buying entire groups, acquiring or disposing of sites or by changing franchises and some have learned how the DMS systems they use are obstructive because they are so difficult to change to meet the new shape of your business