Jan 11, 2018
Used cars are increasingly taking the lead in the auto finance market as the UK new car market struggles. New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 8% in November 2017, compared with the same month a year ago. For the 12 months to the end of November, the number of new cars bought on finance by FLA members fell 7% year-on-year.
Jan 19, 2018
The auto dealership remains central to car buying, but the business model needs to change to meet shifting consumer preferences, according to a study from Cox Automotive. It showed that while most consumers prefer completing at least one step of the car buying process online, most car buyers want to finish the transaction at a dealership.
Nov 30, 2017
Volkswagen Financial Services Australia (VWFSA) has paid a penalty of AUD$216,000 (US$163,000) after the Australian Securities and Investments Commission (ASIC) issued infringement notices for alleged misleading advertising statements. The penalty related to VWSA’s ‘1% you can’t ignore’ advertising campaign, with ASIC issuing 20 infringement notices in total.