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BULLY FOR THEM (14/03/15); Insurance companies have been known to put their interests before their customers’ – A couple of weeks ago, I wrote about the habit of self-registering, also known as pre-registering, in which dealers sell cars to themselves and then shift them to real customers as second-hand. I also mentioned dealers complaining of being pushed hard by manufacturers to sell – or appear to sell – more cars.
Now here’s the proof. The latest National Franchised Dealer Association (NFDA) survey concludes: “Dealers are not satisfied with their manufacturers in respect to self-registrations.”
Neither are dealers very happy with the targets manufacturers are setting. The NFDA report concludes that Citroën and Skoda dealers “have a particular issue”.
This is good for buyers, bad for sellers. The more vehicles that are pre-registered, the more nearly new bargains there will be. Combine this with increasing Personal Contract Purchase (PCP) sales meaning more and more three-year-old cars coming back to dealerships and the price of used models will be forced down.
City investors revved up to buy second-hand car group – Shares in Haversham Holdings, an acquisition vehicle set up by the former chairwoman of Stobart Group, will be suspended this morning as it closes in on a City-backed £1.2 billion takeover of Europe’s largest used-car dealership. Avril Palmer-Baunack’s group is raising the funds to buy British Car Auctions, which runs the webuyanycar.com website.