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News updateBack

FTThe Financial Times

Long-term car care replaces the toothy grin sales pitch – Used car salesmen are not what they were. At least, publicly-quoted motor dealers aren’t. All the talk among the big auto retailers, such as Lookers and Aim-quoted Vertu Motors, is about sustaining long-term customer relationships. So convincing is the sales patter the City has re-rated the sector.

Chinese cars suffer sharp decline in home market – Sales of Chinese-branded passenger vehicles have collapsed in the world’s largest car market, sharpening a debate about whether the sector should be opened further to foreign investors. The China Association of Automobile Manufacturers said yesterday that domestic carmakers had sold 475,000 own-brand passenger saloons in January and February , a 21 per cent decline from the same period last year.

VW chief warns over Big Brother vehicle data – New cars know where you are driving, how fast you are going and whether you are wearing your seat belt. Advances in technology mean today’s cars are collecting as much data as your smartphone.

The Guardian

Business forum says GDP rebound from recession is faster than forecast – The UK economy will exceed its pre-recession peak this summer, according to the latest predictions from British Businesses. The British Chamber of Commerce had forecast the GDP would overtake its performance in the first quarter of 2008 in the autumn, but has now brought that forward to the second quarter. Services and manufacturing have been the main drivers of growth according to official data, but the BCC warned that the buoyant outlook concealed long-term challenges.

The Times

Car buyers overcharged by £75m – Add-on insurance bought by more than a million car-buyers has been branded poor value by regulators, who unveiled a crackdown yesterday on the car salesmen who push it. The Financial Conduct Authority announced plans for remedies across the industry, which includes personal accident cover sold alongside home insurance and travel insurance sold with holidays. Consumers were being overcharged by £200 million a year, it estimated.

Green cars to rival Boris bikes – The “Boris bike” is morphing into the Blue-car as an electric hire vehicle that has opened up affordable green motoring to Parisians makes its way across the Channel. Vincent Bollore, the French billionaire, announced plans yesterday to let up to 3,000 of the compact vehicles loose on the streets of London, drawing power from 6,000 charge points.

Motors at 32m high – A record 31.9million cars were on British roads last year, figures revealed yesterday. It followed a 1.4 per cent annual rise – 436,000 extra motors.

The Daily Telegraph

Car insurance premiums set to stay low – Motor insurance premiums, which tumbled in 2013 amid fierce competition, are likely to remain low for drivers this year, according to Esure. The company behind Sheilas’ Wheels this week posted its first set of annual results as a listed company, reporting a 2.5pc increase in pre-tax profits to £118.4m and a 4pc rise in gross written premiums to £535.8m.

 

Posted by Sue Robinson on 14/03/2014