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Suzuki dealers open customer reviews to the public
Suzuki is opening up the aftersales service delivered by its UK dealer network to public scrutiny by making customer opinions available on the Motor Codes website. It means motorists wanting to be sure they are making the right choice when it comes to having their Suzuki repaired or maintained can now access genuine and honest customer feedback on every dealership in the brand’s UK network, said the carmaker.
Prices of used vans rise by more than 30%
Average prices of used vans sold through Autorola’s online remarketing platform have increased for the third quarter in a row to record levels. Average used prices rose just under 10% from £9,605 in Q1 2014 to £10,513 in Q2 2014, an increase of £907 and an all-time average high for Autorola. The average age and mileage of stock in Q2 was 2012/26,377 miles compared with Q1 (2011/31,927 miles).
Source: Fleet News
Sales of used electric vehicles nearly double
Experian Automotive, part of the Experian Group – has released data which shows that the more economical and greener electric and hybrid vehicles are becoming more popular in the used car market. Used electric car sales rose by 47.10% and hybrid used car sales rose by 24.16% compared to the same period last year (Q1 2013).
Source: Fleet News
Support urged for Road Safety Week
Road safety charity Brake is calling upon communities and businesses up and down the country to get behind this year’s annual Road Safety Week and organise events in their area. Aimed at promoting safer roads for everyone, the campaign will see events taking place up and down the country as the serious issue of reducing the number of people killed and injured on the UK’s roads each year is brought to the fore. Set to run from November 17 to 23, Road Safety Week 2014 is expected to be bigger than ever and aims to build on the more than 7,000 community groups, schools and organisations that took part in raising awareness during 2013.
Source: Bodyshop Mag
HSBC bank’s half-year profits fall by 12%
HSBC’s pre-tax profits fell by 12% in the first half of 2014 compared with the same period a year before. Profits were $12.34bn (£7.33bn), from $14.071bn twelve months earlier. During the half-year, the bank also put aside some $234m for its “customer redress programmes”, to cover the cost of things such as mis-selling Payment Protection Insurance (PPI). Europe’s biggest bank said that it hoped to reduce the “severity of future customer redress” costs. As well as covering mis-sold PPI, HSBC customer redress costs include such matters as disputes over advice given by its wealth management arm, and for mis-sold interest rate swaps.
Source: BBC News
Toyota Reports Surprise Record Profit on U.S. SUV Demand
Toyota Motor Corp., the world’s biggest automaker, reported profit unexpectedly climbed to a record last quarter as surging SUV sales in the U.S. eclipsed shrinking demand in Japan. Net income in the April-to-June period rose to 587.8 billion yen ($5.7 billion), trumping the 497.3 billion yen average of 12 analyst estimates compiled by Bloomberg. The Toyota City, Japan-based carmaker maintained its 1.78 trillion yen profit forecast for the fiscal year ending in March 2015. Chief Executive Officer Akio Toyoda is clinging to a lead over Volkswagen AG as the world’s top-selling carmaker on surging demand for sport utility vehicles including its revamped Toyota Highlander and Lexus GX models. Toyota’s performance in the U.S. market has softened the blow from falling sales in Japan after the nation’s first sales-tax increase in 17 years.
BMW Second-Quarter Profit Jumps 26% Boosted by Record Car Sales
Automotive margin highest in three years, ahead of Audi, Mercedes
BMW said its second-quarter operating profit rose 26 percent, as new models, a rebounding Europe and strong China sales boosted earnings. Earnings before interest and taxes jumped to 2.6 billion euros ($3.49 billion) from 2.07 billion euros a year earlier, BMW said in a statement. BMW’s automotive EBIT margin, the best gauge to compare profitability with peers, was 11.7 percent, up from 9.6 percent a year earlier. The margin was the highest since the third quarter of 2011 and surpassed figures of 9.9 percent at Audi and 7.9 percent at Daimler’s Mercedes-Benz Cars unit.
Source: Automotive News