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NFDA NEWS
13 September 2013
Issue 36 2013
‘We represent, you benefit’
Dear Colleague,
The Autumn Political Party Conference season kicks off this week and I will be meeting with Norman Baker MP, Parliamentary Under Secretary for Transport, and Gordon Birtwistle MP at the Liberal Democrat Party Conference in Glasgow this weekend.
Issues to discuss include as unfair commercial business-to-business practices, the behavior of claims management companies with relation to PPI claims, and the new Draft Consumer Rights Bill, which is currently undergoing scrutiny in Parliament. Update next week on the Lib Dems!
Today’s news also contains the latest August NAMA auction data report. The report shows that during August, the average value of used cars sold at auction across the board increased from £4,862 to £4,899.
**This year’s NFDA Autumn Ball is fast approaching** It’s your event – a time for ‘relaxing & fun’, so book your seat now!!! Full details in today’s news.
Finally – Members can now access the NFDA sites directly via http://www.nfda-car.co.uk/ and http://www.nfda-truck.co.uk/In addition, the dedicated NFDA support line - 01788 538 303 is there for your queries, advice and general comment. So pick up the phone or email us now!!! -
IN THIS ISSUE:
NAMA REPORT AUGUST 2013 DVLA UPDATE ON CHERISHED NUMBER TRANSFER PROCESSING DVLA REMIND DEALERS OF REVISED SYSTEM CHARTERED INSURANCE INSTITUTE EXTENDS SUITE OF ETHICAL
SUPPORT WITH PRACTICAL GUIDELINES FOR SMEs GOVERNMENT AND INDUSTRY UNITE BEHIND INDUSTRIAL
STRATEGY TO HELP BRITISH BUSINESSES GROW US NEWS
- VW VOWS TO BE EV INDUSTRY LEADER BY 2018- VEHICLE FUEL EFFICIENCY REACHES A HIGH, NEARING GOAL FOR 2016
AFRL TESTING ENVIRONMENT NFDA TRIP TO NADA NEW ORLEANS 2014 NFDA TRUSTED DEALERS ROADSHOW NFDA MEMBER SUPPORT LINE NFDA AUTUMN BALL 2013
NAMA REPORT AUGUST 2013
The National Association of Motor Auctions (NAMA) published its monthly market report today for August.
The report shows that during August, the average value of used cars sold at auction across the board increased from £4,862 to £4,899. The total volume of sales rose 4% from 88,697 units to 92,255 units, driven by optimistic manufacturer, rental and dealer PX segments.
Transactional activity increased in August across all but the Fleet age segment, although this could be as a result of the especially high growth in Fleet segment volumes during the month of July. Sales conversion rates increased for the second month in a row to 79%, with both Fleet and Dealer PX segments now attaining 78%. This robust performance puts the month at three percentage points higher than that achieved during August 2012.
Price changes August compared to July, by customer type
Jul-13 Aug-13 Diff %Manufacturer/Rental 14025 14350 2.3%Fleet 7975 8100 1.6%Dealer PX 2375 2375 0.0%
Small changes in price amongst the segments appear to be correlated with changes in average age and mileage by segment. Whilst manufacturer / rental and fleet age segments saw a reduction in both, these indicators for the Dealer PX segment rose slightly. Conversion rates rose uniformly across the age segments, providing further support for current prices.
4x4 and convertible prices during the last 3 months
Jun-13 Jul-13 Aug-13
Premium 4x4 SUV 19525 19050 19400
4x4 Lifestyle Cars 10125 9700 9700Prem Upper Medium Convertibles 11525 11300 11400General Market Convertibles 6775 6875 6300
Whilst general market convertibles have increased in value over the past few months, August appears to have been a turning point as summer draws to a close and dealers become reluctant to buy anything, except the best examples.
By contrast, seasonality does not appear to have affected sales of 4x4s. Retail demand has remained buoyant, and this appears to be reflected in Augusts’ values with a small rise in average price of premium SUVs.
Justin Lane, NAMA Chairman Comments, “Retail activity was slightly ahead of expectations in August, which comes as a surprise considering the weather and peak holiday season. However it has been reported that the fine weather meant record numbers of UK residents holidayed at home this year and so car buying could well have received a boost from such a trend.
“The back to school trend has also offered some support to most traditional 4x4 and MPV vehicles and values have shown either stability or an upward trend. The onset of the inclement autumn and winter weather will as usual see additional support on 4x4s. Combined with dealer stock levels not being as high on such cars as in recent years, we expect to see values remain buoyant on much of this sector over the next 3-4 months.
“With the September plate change likely to see a strong set of new car numbers, it should not be forgotten that September is traditionally the second best used car month of the year. There is a likelihood that dealer stock levels will be in need of replenishment during September, and with the influx of part exchanges likely to add interest, conversion rates should remain strong”.
DVLA UPDATE ON CHERISHED NUMBER TRANSFER PROCESSING
The DVLA are keeping us informed of their progress in handling the recent delays in processing Personalised Registration (PR) transactions.
As of Friday 6 September, Retention/Cherished Transfer applications were being processed within 8 working days from the date of receipt at DVLA
It remains their intention to return to consistently processing PR applications within the 7 working day service level target. This does not include the time spent in the postal system. Dealers should allow several days at each end of the process for applications to travel through the postal system therefore you can expect your application to be turned around in total within approximately 2-3 weeks.
If dealers need to check whether their application has been processed they can go to www.gov.uk/get-vehicle-information-from-dvla and enter the registration number that is being transferred or assigned, as well as the make of the vehicle it’s going onto; if it returns the correct vehicle details, the transfer has been completed and the vehicle can be used for 14 days without displaying the tax disc under the new legislation.
Alternatively contact DVLA on 0300 790 6802 if the application has exceed the turnaround time of 2-3 weeks.
DVLA REMIND DEALERS OF REVISED SYSTEM
The DVLA have reminded Franchise Dealers of the importance of using the revised system to minimise the time taken in processing number plate transfers.
You need to use the pre-addressed plastic envelopes for sending in your applications centrally to DVLA Swansea.
Franchise Dealers can request preaddressed envelopes for Personalised Registrations (EN415) or First Registrations (EN416) by writing to:
Requisition ClerkD Basement StoresDVLAMorristonSwanseaSA6 7JLBy Fax to: 01792 783525 or by email to: [email protected]
Please note that these envelopes enable the DVLA to identify dealer transactions on receipt at Swansea and allow them to apply a consistent process to applications and the return of documents to dealers.
The DVLA have identified one of the main reasons for having to return applications is that the documents have not been signed. To avoid these applications being returned to Dealers, please ensure that signatures are included on all the documents where the signature is required.
CHARTERED INSURANCE INSTITUTE EXTENDS SUITE OF ETHICAL SUPPORT WITH PRACTICAL GUIDELINES FOR SMEs
Two ethical guides to help employers articulate, incentivise and demonstrate ethical culture in the workplace have been launched today by the Chartered Insurance Institute (CII), adding to the wide-ranging support available from the professional body.
The CII's Ethical culture: building a culture of integrity and Ethical culture: a practical guide for small firms, are intended to provide a helping hand to all firms, but especially SMEs, who typically have less resource to deal with these issues. A third guide in the series is due to be published later this year.
The past five years have seen the CII invest heavily in a number of initiatives providing guidance and support to members, to ensure they not only understand but also show awareness of the code of ethics and its practical requirements. Today's new guidance adds to your practical guide: Demystifying the Code of Ethics, published in 2012,and this year's online 'ethics toolkit' for financial advisers.
The CII's increased spotlight on ethics echoes greater scrutiny by the Financial Conduct Authority (FCA) on culture; this combined with intensified public interest following the LIBOR crisis and the subsequent Banking Standards Commission report, which called for increased professional standards in the banking sector.
Early findings from a forthcoming skills survey of CII members indicates there is an increased awareness and requirement for support from professionals themselves, with three quarters of respondents (74%) saying they think there needs to be greater emphasis on ethical and conduct training and support.
Commenting on the new CII guidance, David McIntosh, chair of the CII Professional Standards Board, said: "While there is a clear understanding of the need for change, many individuals and firms could struggle to find a practical way of articulating, incentivising and demonstrating how they pursue high standards of conduct. This is not an easy area for those who are used to working with clear cut compliance rules. That is where professional bodies like the Chartered Insurance Institute can play a vital role.
"As the independent chairman of the CII's Professional Standards Board, I think the work of the CII in recent years to promote high standards of conduct just as important as their work to promote high standards of technical competence.
"That is why I welcome the CII series of ethical guidance, of which this publication is the first, as another practical tool to help guide the profession - whether for individuals on their own or through their firm - and to drive a step-change in the culture of financial services for the long-term benefit of the public."
The guidance is not intended as a compliance tool but as a guide to provide help and support thinking of individuals and their firms in meeting the challenge to raise standards in the public interest.
Source: Chartered Insurance Institute
GOVERNMENT AND INDUSTRY UNITE BEHIND INDUSTRIAL STRATEGY TO HELP BRITISH BUSINESSES GROW
One year on from its launch the government has now committed over £4 billion to industrial strategy, leveraging in billions more in private sector funding.
Industrial strategy sees government work in partnership with business as part of a united approach to create jobs and economic growth for the long term. It is a vital part of our efforts to ensure that we succeed in the global race.
At a joint conference held today with the CBI, the Business Secretary Vince Cable announced £266 million of government-industry support for manufacturing supply chains, skills training and green construction. The event to discuss progress and next steps for industrial strategy was attended by over two hundred key figures.
A further economic boost was delivered by news that BP has handed a new £65 million contract to a firm in Leeds. It means BP and their partners have now awarded over £1 billion in contracts
to UK-based companies to help re-develop the Schiehallion and Loyal oil fields to the west of Shetland.
1. Industrial Strategy has five main strands:
Sectors: Addressing the concerns of every economic sector, but focusing on the eleven where government and business believe they can partner to make the most difference: increasing global competitiveness, strengthening manufacturing supply chains, supporting innovation and maximising export potential where UK is well placed to take a global lead.
Skills: Give business the chance to lead on developing the right skills and expertise, rather than industry training needs being decided by government. Businesses are encouraged to put their money into training, which gives them a strong incentive to get it right.
Technologies: investing in eight great technologies where the UK has the research expertise and business capability to become a world leader.
New Finance: Creating the British Business Bank, which will help remove barriers to the supply of business finance, helping smaller businesses grow by investing in people and equipment.
Government buying: Let businesses know clearly and sufficiently far in advance what government is planning to buy so that they can invest in the right skills and equipment to be able to supply their products and services on time.
2. Government has committed over £4 billion to industrial strategy broken down as follows:
- £1.6 billion Industrial Strategy package at Budget 2013 (for the Aerospace, Automotive, and Agri-tech sector’s)- £1 billion of new capital for a Business Bank- £600 million for 8 great Technologies in the Autumn Statement- £330 million for Employer Ownership Pilots skills funding (Rounds 1 and 2)- £245 million for Advanced Manufacturing Supply Chain Initiative (Rounds 1-4)- £200 million for Catapults- £100 million for the sequencing of 100,000 whole genomes over next 3-5 years.
3. The £266 million of joint investment announced today involves funding of £116 million from round 3 of AMSCI and £150 million for the construction sector via the Technology Strategy Board's Low Impact Buildings Innovation Platform.
4. Details of the five successful Advanced Manufacturing Supply Chain Initiative (AMSCI) projects are:
- £7.72 million in grant and loan funding to a five-strong consortium led by Oxford BioMedica to industrialise the production of gene therapy products. The consortium has also invested £1.43
million of their own money. This brings the total investment to £9.15 million.- £8.85 million grant to an eight-strong consortium led by Proctor & Gamble to manufacture products that open up new markets for particle based products manufactured in existing UK plants. The consortium has also invested £9.04 million of their own money, bringing the total investment to £17.89 million.- £6.94 million grant to a 13-strong consortium led by the Centre for Process Innovation to capitalise on new global export opportunities for printable electronics. The consortium has also invested £2.89 million of their own money which brings the total investment to £9.83 million.- £2.24 million grant to Aero Engine Controls and an SME partner Aero Stanrew Limited to develop innovative advanced electromagnetic technology in the UK. The companies have invested £4.73 million of their own money which brings the total investment to £6.97 million.- A fifth project has also been successful, and includes a US company in the healthcare sector as part of the consortium. Using the funding, the consortium will increase their presence and functions within the UK. More details of this grant will be published shortly.
Source: Department for Business, Innovation and Skills
US NEWSVW VOWS TO BE EV INDUSTRY LEADER BY 2018
Volkswagen AG is betting big on electric vehicles and gas-electric hybrids. The automaker, which until now has emphasized diesels in its green strategy, came to the Frankfurt Motor Show with its e-Up electric vehicle and an electric version of its Golf hatchback called the e-Golf. VW pledged to bring as many as 40 EVs and hybrids to market around the world. The company, which wants to be the world's largest automaker and has a 10-year-plan to more than triple U.S. sales, bragged about its major EV effort, which it sees as an integral part of its global domination strategy.
Source: The Detroit News
VEHICLE FUEL EFFICIENCY REACHES A HIGH, NEARING GOAL FOR 2016
Automakers are making slow but steady progress improving fuel efficiency, as the industry hit a high for the average miles per gallon of new vehicles sold in August in the United States. A study released by the University of Michigan on Tuesday said that the average fuel economy on the window stickers of cars and trucks sold last month was 24.9 miles per gallon. That was nearly five miles per gallon better than the 20.1 m.p.g. recorded in October 2007, when the university's Transportation Research Institute began tracking the data. The improvements reflect broad changes across the industry in the size, weight and engines in new models, as well as an increase in the number of hybrid and electric vehicles on the market.
Source: The New York Times
AFRL TESTING ENVIRONMENT
Please be advised that the AFRL testing environment will not be available on the 16 September between 07:00am to 12:00pm and on the 19 September between 07:00am to 17:30pm due to maintenance.
Apologies for any inconvenience this may cause.
NFDA TRIP TO NADA NEW ORLEANS
2014
The NFDA is organising a dealer trip to the NADA Convention and Exposition departing 23 January returning 28 January 2014.
Package price will be circa £2500.00 dependent on flights and will include:
NADA Convention registration Visit to a large dealership – guided tour around all aspects of the business Economy return flights from London Heathrow with British Airways (upgrades subject to
availability) Five nights accommodation at the 5 Star Loews Hotel Airport transfers and all transport provided in New Orleans
Two evening meals at a top quality restaurant Invitations to NADA private receptions and Italian International reception
For more information and if you are interested in joining the NFDA trip, please contact Louise Woods on 01788 538332 or email [email protected] alternatively, fill out your details below and fax to 01788 538323:
Name ………………………..………………….
Company ……………………………………………………………………..
Email ………………..……………………………………..
Tel: ………………………………………………………………….
NFDA TRUSTED DEALERS ROADSHOW
DRIVING DIGITAL 12 November, Hilton Warwick – 10.00am followed by buffet lunch
Following the successful launch of NFDA Trusted Dealers Driving Digital events in July, we are organising another roadshow to take place 12 November at The Hilton, Warwick. The event is open to current and potential Trusted Dealers members.
Driving Digital is intended to help franchised dealers make the most of their online presence and improve customer experience to gain increased sales and margin. The event will feature presentations from industry leaders in digital marketing and top dealers groups. Consumer experts will also be on hand to offer advice on customer focus.
The event will also include an update of the work we have been doing to promote dealer standards and the added value of using a franchised dealer. We are pleased to confirm a strong line-up of speakers for the event including - Robert Forrester of Vertu plc, Hugh Dickerson, Google, Mark Squires, Chief Executive of Benfield, Neil Addley, Managing Director of Trusted Dealers and Chas Hallett, Editor-in-chief of What Car?
To book your place simply email [email protected], call 01423 506272 or visit our microsite www.driving-digital.co.uk
NFDA MEMBER SUPPORT LINE – 01788 538 303
To discuss any issues from legal advice, to ways in which we can help support your business, please call 01788 538 303 and speak to a member of the NFDA team.
NFDA AUTUMN BALL
2013
THE NFDA AUTUMN BALL 2013 IS SPONSORED BY MOTOR INDUSTRY LEGAL SERVICES
