- FCA under CMC pressure over £1m ad campaign
- JLR receives £1.5bn government support
- Big Motoring World loses £11.8m in ‘transformative 2024’
- Simon Bailes and Furrows report 2024 profit
- WEEK AHEAD: BRC shop price index
- Pension savers cannot reverse lump sum withdrawals
- Labour party conference to woo ‘disaffected businesses’
- France to review Nissan supplier payments
- German auto ‘slashes 55,000 jobs’
- OPINION: Can Changan crack the luxury market?
FCA under CMC pressure over £1m ad campaign
Claims management companies (CMCs) are battling the FCA over a £1m ad campaign designed to discourage motorists from using them to get payouts from discretionary commission arrangement compensation.
The CMCs accuse the FCA of “caving to big banks,” reports The Guardian, and pushing consumers towards accepting “low-ball” payouts.
The FCA has said motorists should expect no more than £950 for each claim through its scheme.
“We have consistently called for a redress scheme that is fair, transparent, and puts consumers first,” said Darren Smith, the managing director of Courmacs Legal, a CMC.
“Instead, the FCA appear to be prioritising the interests of big banks by pressuring victims to accept low-ball offers through their redress scheme that may not reflect the full extent of the harm they have suffered.
“Motorists should have a choice to engage lawyers, especially if they might get a significantly higher payout through the courts.”
JLR receives £1.5bn government support
JLR has received a £1.5bn loan guarantee from the government to support its supply chain following the cyberattack on 31 August. The loan guarantee has received cross-party support but the FT warns both JLR and the government are likely to face “intense pressure to explain the agreement’s terms”.
Critics have said ministers risk creating a “moral hazard” if companies decide there was no need to take out cyber insurance or invest in security.
It was reported this week that JLR failed to secure a cyber insurance deal ahead of the incident.
Big Motoring World loses £11.8m in ‘transformative 2024’
Big Motoring World has described the year ended December 2024 as a “transformative” year with increased turnover and gross profit – but which also saw an £11.8m loss before tax. It made £2.2m in 2023.
Administrative expenses swelled from £32.2m to £53.8m, including an exceptional cost of £4.5m. Interest payable and similar expenses also swelled from £3.9m to £7.7m. However, turnover did grow significantly from £697.4m to £859.1m, a 23% increase.
The directors said the losses were incurred “predominately due to increased financing and exceptional costs due to expansion and restructuring”.
Simon Bailes and Furrows report 2024 profit
Shrewsbury’s Furrows has reported profit before tax of £2.5m for the year ended December 2024 – a repeat of its 2023 performance. Turnover was also stable at £110m. Profits have been reinvested in the business, with net assets increasing to £12.1m.
In April 2025, the company exited the Furrows Holdings Limited group to facilitate the transfer to an employee ownership trust. The EOT now owns 75% of the business.
In Northallerton, Simon Bailes Peugeot reported a significant 54% rise in turnover from £67.1m to £103.6m for 2024. Staff headcount also rose from 73 to 86. Profit before tax fell from £2m to £1.2m.
“We’re not immune to the pressures facing the wider sector,” said founder and MD Simon Bailes. “But we’re in a robust position, and we’re exploring opportunities to broaden our offering.”
* Read a full interview with Simon Bailes in the latest Auto Market Insight
WEEK AHEAD
Tuesday, Close Brothers Group FY
Tuesday, UK GDP
Tuesday, BRC shop price index
DATA INSIGHT
Pension savers cannot reverse lump sum withdrawals
30 days: ‘Cooling off’ period some pension providers incorrectly told savers they had after withdrawing their tax-free allowance. HMRC has now clarified that this does not apply to the lump sum allowance.
Labour party conference to woo ‘disaffected businesses’
£6,000: Price of a ticket to the Labour party conference’s ‘business day’ on Monday. Described as a ‘business leaders’ summit’, it starts with a breakfast hosted by business and trade secretary Peter Kyle, followed by the “prime minister in conversation,” reports The Sunday Times.
The price is double last year’s cost.
GLOBAL AUTO
France to review Nissan supplier payments
Reuters reports the French economy ministry’s competition department is reviewing whether Nissan’s European unit paid its suppliers on time in 2024. It has requested detailed financial records from the firm. Under French law, companies are required to pay suppliers within 60 days of receiving an invoice, or face penalties of up to €2m.
German auto ‘slashes 55,000 jobs’
The German auto industry’s decline is “rippling through Europe’s biggest economy,” reports Automotive News Europe. Bosch has now announced it will slash an additional 13k jobs, meaning the German auto sector has shed around 55k jobs over the past two years. Volkswagen tops a list of planned cuts with reductions of 35k jobs by 2030.
OPINION
Can Changan crack the luxury market?
Changan’s UK debut last week was refreshingly different from the usual new entrant playbook. In my conversation with UK managing director Nic Thomas (which you can read in next month’s Auto Market Insight), it was clear there’s no obsession with chasing the premium tag – an overused badge which fails to convince (as I’ve written here before). Instead, Changan is pitching its first models on value, fun and trust-building.
While I’m not 100% sold on the ‘fun’ line, that overall realism matters.
In 2025, customers aren’t short of badge choice; what they lack is a compelling mix of usability, affordability and long-term backing.
Getting this message over won’t be easy, but this approach taps into the same ‘value over brand’ philosophy I wrote about earlier this month.
In an era of stretched household budgets and fleet managers laser-focused on total cost of ownership, credibility comes from demonstrating value rather than declaring it. Changan’s restraint may prove its most effective differentiator.
Yet this grounded launch is only one side of the story.
On the horizon sits Changan’s stake in Avatr; a brand designed for the high-end, technology-driven luxury space. That raises a fascinating question: can a new entrant actually crack a sector long dominated by heritage names?
On paper, the odds look tough. The luxury segment thrives on legacy, cachet and customer loyalty built over decades. But technology is rewriting the rulebook. If an Avatr EV can pair cutting-edge software and first-class quality with striking design, it could resonate with younger luxury buyers less wedded to tradition. Think of how Tesla carved out its own premium space without a century of backstory, or a great deal of above the line marketing.
So, while Changan in the UK rightly avoids hollow claims today, its wider portfolio hints at a bolder tomorrow. Value-first credibility now could set the stage for a luxury challenge later; one grounded in substance, not slogans.
Tristan Young
Editorial Director
Get in touch: tristan@autosunday.co.uk
ISSN 2977-6597