Motor Trade Insurance

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  1. Will Change in Ogden Discount Rate Affect Premiums?

    March 24, 2017 by Logan Biggs

    Motor traders may be interested to read that the Ogden Discount Rate was changed on the 20th March 2017. The rate has fallen from 2.5% to – 0.75%.

    As a result of the fall in the Ogden Discount Rate will premiums for motor trade insurance start to rise?

    Following the drop in the Ogden Discount Rate it will be interesting to see if motor trade insurance premiums start to rise.

    The rate is used to calculate how much insurers need to set aside to meet claims for compensation from people injured in the likes of road traffic accidents. Sometimes quite sizeable sums often running into many millions of pounds are paid out by the likes of motor insurance companies. more »

  2. Used Car Values Increase In February

    March 15, 2017 by Logan Biggs

    Motor traders will no doubt be interested to read that the average headline value of used cars sold through British Car Auctions (BCA) rose in February 2017 in comparison to February of last year. In fact, the average headline value hit a record for last month since Pulse figures started to be produced going back to 2005. more »

  3. February Sees Drop In New Car Registrations

    March 8, 2017 by Logan Biggs

    Those of you in the motor trade may be interested to read that, following a good performance in January of this year in respect of new car registrations, February saw a very minor fall in those figures when compared to the same month in 2016.

    The police use a numb er of makes and models of car including the Vauxhall Astra.

    The Vauxhall Astra is one of the vehicles used by the police.

    The number of new cars that were registered in February 2017 was 83,115 whereas in February 2016 there were 83,395. That is a drop of 0.3%. However, February is traditionally a quiet month in the motor trade for new cars being sold bearing in mind that the new number plate was due to come out on 1 March. The figures are published by the Society of Motor Manufacturers and Traders (SMMT). more »

  4. Registration Figures For Electric Cars Look Favourable For January

    February 28, 2017 by Logan Biggs

    Motor traders will be interested to read that, overall, the number of new alternative fuelled cars and electric cars that were registered in January 2017 looked favourable when compared to the same month last year. Let us hope that this continues for the remainder of 2017 and beyond.

    Those of you involved in the motor trade may find it of interest that a greater number of electric cars were registered in January 2017 than in January of 2016.

    Electric cars appear to be growing in popularity here in the UK.

    Based upon information held by the Society of Motor Manufacturers and Traders (SMMT), the number of Pure Electric plug-in cars that were registered last month amounted to 1,010. This was an increase of 72.9% when compared with the 584 of such vehicles registered in January 2016. more »

  5. Large Percentage Of Car Buyers Change Vehicle Make

    February 22, 2017 by Logan Biggs

    A survey has been carried out by Auto Trader that may interest motor traders that buy and sell both new and used cars. In the region of 1,000 people in the UK took part in the survey with around 50% being people who had bought a second hand car and 50% purchased a new vehicle.

    When it is time to change their cars it is the owners of VW cars who are the most loyal to the brand.

    VW car owners are the most loyal to the brand when it comes to changing their vehicles.

    Apparently, a significant percentage of car owners will move from one brand of vehicle to another when they decide they want or need to change their cars. A greater percentage of used car owners do this when compared with people who buy new vehicles. more »

  6. Many Motor Traders Positive About 2017

    February 13, 2017 by Logan Biggs

    If you are a motor trader then you will no doubt have an opinion as to how you think your business will perform in 2017. According to Close Brothers Motor Finance’s Dealer Satisfaction Survey, 65% of those car dealers taking part in the survey felt that they would see their businesses grow this year and that has to be great news. more »

  7. Is There A Benefit In Using A Specialist Broker?

    February 6, 2017 by Logan Biggs

    If you are looking to arrange motor trade insurance then you will find that there are many places that you can obtain quotations for such cover from. For instance, you could contact a number of insurance companies direct either via the Internet or by phone to get a quote. You could also pop into your bank, or any other bank for that matter, and enquire if they can provide a quote. Another option is to get in touch with a broker by telephone, in person or the Internet that specializes in helping arrange such cover. more »

  8. Excellent Figures For Number Of Cars Built In UK

    January 26, 2017 by Logan Biggs

    Those of you operating within the motor trade industry will be pleased to hear that, according to the Society of Motor Manufacturers and Traders (SMMT), the number of new cars built last year here in the UK totalled 1,722,698. This was a big increase on the number of cars manufactured in 2015 when there were 1,587,677 built. This equates to a rise of 8.5%. more »

  9. Impressive Figures For Point Of Sale Finance For Motor Cars

    January 18, 2017 by Logan Biggs

    There are no doubt a lot of motor traders who provide car finance for customers at point of sale whether that is to assist with the purchase of a new or used vehicle. Such finance probably helps those of you in the motor trade industry who are selling cars achieve more sales than if the customer was just left with having to source their own finance. more »

  10. Large Percentage Of New Cars Have DAB Radios Fitted

    January 12, 2017 by Logan Biggs

    If you are a motor trader you will be aware of what a potential car buyer is looking for when they are considering purchasing a new car. For instance, he or she may wish to consider a number of factors such as a particular make, model, colour type of fuel, manual or automatic gearbox, speed, bhp, torque, type of upholstery and the sort of sound system in the vehicle. more »

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