DEALERSHIP group Caffyns has reported a slump in turnover due to challenging economic conditions and the closure of some dealerships. Revenues for the 12 months toMarch 31, 2012fell to £170.2 million (2011: £201.5m), although pre-tax profits increased to £1.46m from £270,000. During the year, Caffyns closed two underperforming … Continue reading
THE Office of Fair Trading (OFT) has provisionally decided to refer the private motor insurance market to the Competition Commission after it found evidence that insurers compete in a dysfunctional way that may push up premiums for drivers by £225 million a year. The OFT found that private motor … Continue reading
THE Government is considering reforming road tax, which could mean rises in Vehicle Excise Duty rates, as it loses cash as an increasing number of motorists opt for low emission cars. Another alternative believed to be under discussion by HM Treasury is the return of a one-off ‘showroom tax’ … Continue reading
AVERAGE used car values in the fleet sector fell 1.2% (£78 to £6,634) in May, according to the latest data from Manheim. Average age remained the same at 50 months and average mileage increased by 644 miles to 59,687 compared with April. Overall average wholesale values were down … Continue reading
JAGUAR has claimed top spot in the annual J.D. Power and Associates/What Car? UK Vehicle Ownership Satisfaction Study for the first time. In the 2012 study, the British manufacturer overtook Lexus, which slipped to joint second place with Skoda, after topping the results for the past 11 years. However, … Continue reading
ACFO is holdings talks with the Driver and Vehicle Licensing Agency over how organisations will be able to check the validity of employee driving licences following changes due for implementation in 2014. The Department for Transport has announced that as part of its ‘Red Tape Challenge’ to cut bureaucracy … Continue reading
HM REVENUE and Customs (HMRC) has published new Advisory Fuel Rates for the three months which started on Friday (June 1) and the they reveal a 1p a mile cut in the rate for diesel cars with engines above two litres and a 1p per mile rise in all rates … Continue reading
DIESEL power is set to monopolise company car sales from 2015 – although some would argue it is close to dominance now – as a result of benefit-in-kind tax changes that have virtually killed the electric vehicle market before it has become established. That is the claim of Mark … Continue reading