- FCA HINTS AT NON-DCA REDRESS SCOPE
- PEERS URGE SHORTER TIME LIMIT FOR CAR FINANCE CLAIMS
- MORE ELECTRIC CAR GRANT MODELS CONFIRMED
- DAVID KATELEY ON SUZUKI’S SIGNIFICANT RETAIL REALIGNMENT
- STILL TIME TO TAKE PART IN RESEARCH SURVEY
- WEEK AHEAD: UK claimant count
- THIEVES ARE STEALING RADAR SENSORS IN SECONDS
- FISCAL DRAG AND THE TOP TAX RATE
- HIGHER EU, JAPAN, SOUTH KOREA REMAIN IN US FOR NOW
- NEW JLR CEO SHRUGS OFF TRUMP JAGUAR CRITICISM
- GUEST OPINION: Looking after your health and wellbeing
FCA hints at non-DCA redress scope
Consultation on the redress scheme for finance claims will cover non-discretionary arrangements, according to the FCA’s head of consumer finance Mark Burns.
Speaking at the NFDA’s Future of Finance conference last week, Burns said the FCA would consult “on which non-DCA products should be included”.
He added that any redress scheme will need to provide certainty as well as being easy so that consumers don’t need to use claims management firms.
“We, as a regulator, have three strategic objectives. One is to get the appropriate degree of protection for consumers. Another one is to create effective [market] competition and third is to ensure market integrity. We will need to balance those as part of the scheme.”
Burns also said: “We are keen that customers get redress in a timely manner.”
However, with the consultation not closing until mid-November, after being open from the start of October, it could be well into 2026 before a redress scheme is finalised.
Quizzed about how the FCA arrived at its estimates for a cost of £9bn-£18bn, Burns said the numbers were “informed by information the funders gave us, post-court appeal, when we asked them to reconsider what their position would be”. He added the total number did include operational costs to the banks as well as redress payments.
The comments by the FCA point to a redress scheme that goes beyond the relatively narrow scope of the Johnson Supreme Court case last week, where the factors involved were around the unfair level of commission and the fact that Johnson was deemed an “unsophisticated” customer.
Peers urge shorter time limit for car finance claims
A Lords committee has written to the FCA asking why cases should be allowed to go back to 2007 as part of a car finance redress scheme. It suggested that claims should only be eligible in respect of car loans where the contract has expired in the last six years.
The proposal “could dramatically reduce the number of valid claims and reduce the bill to the industry,” reports The Sunday Times.
“The committee, which recently published a highly critical report about the FCA and its inhibiting effect on the overall sector, also called on the regulator to publish details of the modelling it used to come up with an estimate of £9bn to £18bn for the total cost of the redress scheme.”
Banks and motor finance firms have so far only made provision for about £2bn of payouts.
More Electric Car Grant models confirmed
13 more cars from Nissan, Renault and Vauxhall now qualify for the Electric Car Grant scheme, joining Citroen, which was the first OEM to qualify. All receive the lower £1,500 grant – meaning no EV has yet qualified for the full £3,750 amount, however, Nissan has said it expects to qualify for the higher tier with its forthcoming Leaf.
Environmental factors including vehicle production and battery production locations are used to determine the level of grant, while the possession of a science-based target (SBT) is a qualifier. The latest issue of Auto Market Insight (subscribe here) lists every OEM with an approved science-based target.
Notably, the Science-Based Targets Initiative, which oversees the targets, lists Stellantis predecessor PSA as having an SBT. This would include Vauxhall, but not Fiat or Alfa Romeo. As reported last week, the Italian brands are among those launching their own electric car grants.
Autotrader says interest in EVs on the marketplace has “soared…. new EVs priced under £37k have taken a higher share – up 10 percentage points – of advert views since the launch,” said chief commercial officer Ian Plummer.
Citroen, the first official eligible vehicles announced by the government, saw a bump after their announcement; ad views for the e-C5 Aircross were up 72%, the e-C4 X was up 80% and e-C3 Aircross ad views rocketed 122%.
See our latest chart for details
David Kateley on Suzuki’s significant retail realignment
Speaking to our sister title Auto Market Insight, Suzuki GB director David Kateley explained the UK network has recently undergone a significant realignment from 130 sites down to 100 in order to maintain franchise profitability.
“Volume per site remains stable at 500 units; 200 new, 300 used. We had the changes based on territory sustainability, succession potential and profitability, not just raw sales performance.
To maintain retailer profitability, Kateley has introduced quarterly success reviews and regular webinars. “We call out good work at all levels, digital sales managers, aftersales teams, not just senior execs. Then we look forward together.
“It’s about collective success, not individual recognition.”
* Read the full interview in this month’s Auto Market Insight: subscribe here
Still time to take part in research survey
Jordan Workman, winner of the first ever Bunny Ennis Fund award, has recently celebrated his doctoral research study reaching 1,000 responses. The DBA Advanced independent study is an academic research project exploring performance and employee trust in the global automotive industry. Participation in the short survey is anonymous and is open to anyone working in the automotive industry across Asia, Europe or North America.
“There is still time to take part,” says Workman,” as it doesn’t close until 21 August 2025. Click here to take part
WEEK AHEAD
Tuesday, UK claimant count
Thursday, GDP
DATA INSIGHT
Thieves are stealing radar sensors in seconds
4 seconds: How long it took a thief caught on a Ring camera to steal the cruise control radar sensor from a Volkswagen Golf GTI. The Sunday Times says there has been a spate of similar incidents in London. Replacements cost £1,500, or up to £3,500 on other makes such as BMW and Mercedes-Benz.
Fiscal drag and the top tax rate
1.7 million: The number of people paying the top 45% income tax rate by 2030. When the additional rate was introduced in 2010, around 236k people paid it – fewer than 1%.
GLOBAL AUTO
Higher EU, Japan, South Korea remain in US for now
Although the EU, Japan and South Korea have all reached deals with the US to lower import tariffs from 25% to 15%, effective from 7 August, the 25% rate remains in place pending the signing of an executive order. It is not known when president Donald Trump will sign the order.
New JLR CEO shrugs off Trump Jaguar criticism
After president Trump said Jaguar was in “absolute turmoil” after its “woke” rebrand, incoming CEO PB Balaji shrugged off criticism.
“We have put our plans together, the cars are being revealed, they’re getting exciting response from the customers on the ground. “Therefore, that’s what the strategy is.”
OPINION
Looking after your health and wellbeing
By Rachel Clift, CEO at Ben, the automotive industry charity
Looking after our health and wellbeing is a life skill. Maintaining good physical and mental health should be part of our daily life habits.
Just like taking care of your car with regular services keeps it in good working order and prevents a breakdown, it’s the same for our mind (mental health) and body (physical health). Our mental and physical health can vary each day, but they’re closely linked and affect each other all the time.
For example, when we’re experiencing high levels of stress, this can make us feel worried or anxious and trigger physical symptoms like headaches, neck and back pain, affect sleep and cause fatigue. In reverse, if we’re struggling physically, this can affect our mood and outlook on life.
Focusing on your wellbeing places you in the driving seat so you can cope with the daily pressures and challenges that life throws your way. So, keep an eye on your wellbeing dashboard in the following areas:
- MyHome
This is the shelter and space you have access to; what you consider to be home and the community you live in. It’s important to feel safe, secure and part of a community. - MyMoney
Everyone needs access to money; this area focuses on how you manage money in the short, medium and long-term, including planning ahead for the future. If you’re struggling with cost-of-living pressures, find out more about managing money: ben.org.uk/money. - MyNetwork
Feeling connected and having healthy relationships is an important part of life. This includes relationships with loved ones, friends, those you work with and in any other part of your life. To find out more: ben.org.uk/connections. - MyLifestyle
This is about how you live your life; daily routines and habits, how much attention you pay to what you eat, drink, how you sleep, the recreational activities you do, the self-care you practice and physical activity. If you’re looking to get more active and take on a new challenge, visit: ben.org.uk/doit4ben. - MyEmotions
Managing emotions is vital to our wellbeing; recognising the signs when you’re not coping or reacting so well is a skill. Trying to maintain a positive outlook and understand the relationship between your thoughts, feelings and actions is also a skill. Ben’s SilverCloud platform offers a variety of digital programmes to support your mental health and emotional wellbeing: ben.org.uk/silvercloud. - MySelf
Understanding yourself is key to looking after your health and wellbeing. Being aware of your values, beliefs about yourself and the world around you can help you find purpose and meaning in life.
Focusing on these six areas proactively can improve how satisfied you are with your own life and how good you feel about yourself.
Are you looking to make a positive change in your life? Ben offers a free coaching service: www.ben.org.uk/lifecoaching.
If you or someone you know is struggling, we’re here. Chat online at ben.org.uk, call 08081 311 333 or email supportservices@ben.org.uk.
Get in touch: tristan@autosunday.co.uk
ISSN 2977-6597