INSIDE: ALL THE LATEST NEW CAR NEWS
NEWS • CARWOW LOSSES INCREASE • NEW CAR MARKET UP 12% • RISING PROFITS AT WAYLANDS • DIESEL CAR SEARCHES DROP • IGA CALLS FOR ‘URGENT’ TALKS • FREELANDER LAUNCHES IN UK PLUS INSIDE: JAMES BAGGOTT’S VIEWS ON THE NEWS
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IGNITION. ISSUE 224 | NOVEMBER 2026
THE BOSS FOUNDER James Baggott
james@thebaize.com Twitter: @CarDealerEd
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CREATIVE DIRECTOR Jon Reay jon@blackballmedia.co.uk Twitter: @JonReay
EDITORIAL ASSOCIATE EDITOR James Batchelor
james.batchelor@blackballmedia.co.uk Twitter: @JRRBatchelor
STAFF WRITER Jack Williams
jack.williams@blackballmedia.co.uk Twitter: @JournoJack25
CONTRIBUTORS Becca Chaplin, Jack Evans, Cameron Richards, Nigel Swan HEAD OF DESIGN Graeme Windell
graeme@blackballmedia.co.uk Twitter: @graemewindell
FINANCE FINANCE MANAGER Emma Davis emma@blackballmedia.co.uk
ADVERTISING SALES MANAGER Kevin Day
kev@blackballmedia.co.uk
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ACCOUNT MANAGER Michelle Searle
michelle@blackballmedia.co.uk Twitter: @cardealermich
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Distribution Car Dealer is distributed to a database of up to 12,000 franchised car dealers, independents, service and repair sites, car manufacturers and suppliers. Advertisers are supplied with a print certificate every month.
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CONTENTS News Digest Used Car Awards shortlist Big Mike
4 10 12
PLUS
SUPPLIERS GUIDE PAGE 26
Forecourt: Skoda Peaq 14 James’s views on the news 18 Car news round-up 20
Car Dealer Podcasts Finance Long-termers
22 24 27
CarDealerMag.co.uk | 03
DASHBOARD NEW CARS
Freelander launches in UK
FREELANDER will launch in the UK in the near future, it has been announced, after an initial rollout in the Middle East. The brand, which is of course derived from the Land Rover model first launched in 1997, is now a standalone concern and represents a partnership between JLR and Chinese manufacturing giant Chery. Its first model will be the Freelander 8, with five- and six-seater versions and a techfocused interior. Initial images show a boxy exterior design, but full details have yet to be confirmed by Freelander.
GOVERNMENT
IGA repeats calls for ‘urgent’ talks
THE Independent Garage Association (IGA) has repeated its calls for an ‘urgent meeting’ with Transport Minister Heidi Alexander (pictured) in its campaign for an MOT price rise. The trade body met with officials from the Department for Transport (DfT) and Driver and Vehicle Standards Agency (DVSA) and is now seeking further talks with Alexander. It came after the DVSA held the cap on class 4 vehicles, which has remained at £54.85 since 2010. 04 | CarDealerMag.co.uk
HERE ARE TASTERS OF STORIES YOU MAY HAVE MISSED
NEWS DIGEST
CLICK ON THE PICTURES FOR THE FULL STORY
TARIFFS
UK government preparing tariffs on Chinese electric cars amid pressure from EU
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he UK government is preparing plans which could see tariffs imposed on Chinese electric cars, potentially pushing up showroom prices, amid mounting pressure to protect domestic vehicle manufacturing. Business secretary Jonathan Reynolds is drawing up options for import duties over concerns that statesubsidised Chinese cars are being ‘dumped’ into the British market, The Times reports. Britain has so far resisted following the European Union and United States in putting additional barriers on Chinese-built EVs. However, The Times says the government’s position is shifting as Chinese brands take a growing share of the UK new car market and negotiations continue over British manufacturers’ access to the EU. The newspaper reports that Brussels wants Britain
to introduce tariffs amid fears the UK could otherwise become a route for Chinese manufacturers to circumvent European trade restrictions. The issue has become linked to negotiations over the EU’s proposed ‘Made in Europe’ measures, which could restrict subsidies, tax incentives and public procurement benefits to vehicles manufactured within the bloc. According to The Times, the EU has indicated that Britain could be excluded from the scheme unless it takes action on Chinese vehicle imports. Such an outcome could have major implications for UK carmakers given the importance of European markets to British factories. The EU accounted for 58% of UK car exports during the first half of 2026, compared with around 4% going to China, figures from the Society of Motor Manufacturers and Traders (SMMT) show.
DEALERSHIPS
Cargiant shuts up shop after car dealership fell to £4.1m loss USED car supermarket Cargiant fell to a £4.1m pre tax loss in its last financial year before directors decided to call time on the once hugely profitable business. Directors said a downturn in business amidst ‘challenging trading conditions’ led them to take the decision to shut the London-based business. Cargiant was once the most profitable independent used car dealer in the UK and had topped its sector in the Car Dealer Top 100 list – but it closed for good in April. Car Dealer broke the news that the firm was
considering closing in March with an exclusive story the firm had entered redundancy consultations with its staff. Now, accounts just filed for the car supermarket show that after a recording a pre-tax profit in 2024 of £121.2m, the firm plummeted to a pre-tax loss of £4.1m in 2025. Used car sales fell by nearly a third in 2025 from 25,900 units in 2024 to just 17,420 in 2025. Directors said the company’s ‘property, staffing and operational cost base’ had been built to support much higher numbers.
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DASHBOARD
BUSINESS
D.M. Keith sees profits plunge 88%
DEALER group D.M. Keith saw pre-tax profit collapse by almost 88% last year despite turnover of more than £435m. The Yorkshire-based business made a pre-tax profit of just £309,583 in the year ended December 31, 2025, compared with a restated £2.56m in the previous 12 months. The fall came despite turnover increasing 17.1%, from £371.64m to £435.13m, as the group benefited from a full year of trading at its expanding BYD operation and businesses acquired during 2024.
DEALERSHIPS
Unity appointed Dodge UK dealer
DEALER group Unity Automotive has been appointed as a primary UK dealer for the new Dodge Charger, bringing the American muscle car to its Oxford dealership. The business has been given the nod by KWA – the official European importer for Dodge and RAM – and has opened its first UK orders. The eighth-generation Charger will initially be offered in two-door Sixpack form, with prices starting at £70,000 for the 420bhp R/T. 06 | CarDealerMag.co.uk
HERE ARE TASTERS OF STORIES YOU MAY HAVE MISSED
NEWS DIGEST
CLICK ON THE PICTURES FOR THE FULL STORY
ELECTRIC VEHICLES
Soaring fuel prices spark rush for used EVs – but dealers don’t want diesel part-exchanges SOARING fuel prices are resulting in more motorists considering making the switch to electric cars – but specialist EV dealers say they are increasingly reluctant to take their diesels in part-exchange. Autotrader told Car Dealer that it had seen used electric enquiries now accounting for one-in-four of all leads sent to dealers in September. Along with increased leads, used diesels were taking
nearly a week longer to shift from dealer forecourts at an average of 34 days to sell – three days slower than a year ago. Now, Car Dealer has spoken to three EV specialists who all said they had seen a spike in interest in electric cars since the outbreak of the war in the Middle East, with one saying they are declining diesel part-exchanges rather than risk being left with unwanted stock.
NEW CARS
BUSINESS
USED CARS
New car market surges 12% in Sept
Volvo Cars China struggles deepen
Searches for used diesel cars plummet
THE UK new car market grew by more than 12% in September as private buyers returned to showrooms and intense competition helped deliver the strongest platechange month since 2017. A total of 350,518 new cars were registered during September, according to preliminary figures from the Society of Motor Manufacturers and Traders, up 12.1% on the same month last year. It marked the market’s 10th consecutive month of growth, with September typically accounting for around one in seven annual registrations.
VOLVO Cars has abandoned its sales and cash flow forecasts for 2026 after worsening conditions in China and a sluggish recovery in the US left the manufacturer facing a weaker end to the year. In a statement, the Swedish carmaker admitted that lower-thanexpected sales mean it will no longer meet its previous full-year guidance on volumes and cash flow. It has also decided against issuing replacement short-term forecasts due to the level of uncertainty. Despite ‘further deteriorating market conditions’ in China and a slower-than-expected recovery in the US, it said Europe remained resilient.
DEMAND for used diesel cars is plummeting rapidly as the price of the fuel rockets past £2 per litre. As the War in Iran and the impact of Ukrainian strikes on Russian oil refineries continues to weigh on the price of fuel, demand for diesel cars is dropping drastically. This week President Donald Trump threatened to restrict the export of diesel, which would come as a major blow to the UK. Currently, 30% of UK diesel imports are from the US. New data shared exclusively with Car Dealer by Autotrader shows diesel cars are taking at least three days longer to sell than a year ago.
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DASHBOARD
BITE-SIZE Click on the text box for the full story
HERE ARE TASTERS OF STORIES YOU MAY HAVE MISSED
NEWS DIGEST
CLICK ON THE PICTURES FOR THE FULL STORY
FINANCE: Dealer group Ancaster fell from a near£630k profit in 2024 to a £2.2m pre-tax loss last year as employment costs, interest charges and £1.4m of one-off costs hammered profitability. This came despite turnover increasing by 1.6% to £245.43m in the year to December 2025. COURTS: A car salesman who pocketed cash payments from used car sales has been handed a suspended prison sentence. Nicholas Corp, 56, of Ladymead, Portishead, pleaded guilty to fraud by abuse of position following offending at a Bristol dealership between March 2023 and June 2025. USED CARS: Carmaker Mazda has expanded its service plan offering to include out-ofwarranty vehicles, with owners now able to sign up even if they did not originally buy their car from a Mazda dealer. The sheme aims to bring older cars back into its franchised dealer network. REPAIRS: A Mercedes-Benz owner was quoted more than £43,700 for a replacement engine after their seven-yearold car suffered mechanical failure with fewer than 49,000 miles on the clock. The Mercedes E53 AMG suffered extensive engine damage following oil starvation. COURTS: Motorists who bought or leased new cars and vans from 37 manufacturers between 2006 and 2015 are being urged to register for a share of almost £56m in compensation after The Competition Appeal Tribunal (CAT) approved a payout scheme linked to a car shipping price-fixing scandal. 08 | CarDealerMag.co.uk
BUSINESS
Carwow losses increase to nearly £24m as revenues surge past £100m for the first time CARWOW losses increased to nearly £24m in 2025 – up from £19.7m the year before – after a year of ‘investment in technology and product development’. The loss before tax of £23,912,502 comes after record growth in revenue which saw the marketplace and automotive media business bring in £104.2m. Revenues were up 22% on the £85.1m achieved in
USED CARS
2024, an achievement the firm said was a ‘massive milestone’. Carwow said the group was impacted by a ‘challenging’ first half of the financial year as ‘international tariffs affecting the automotive sector weighed on trading’. However, the firm said performance in the second half of the year improved as the business implemented ‘disciplined cost’ management.
DEALERSHIPS
FINANCE
VW Tiguan named Pilgrims face potential Waylands enjoys least reliable used car record-breaking year £492k loan repayment
ONCE the bastion of reliability, German car makers were the envy of the automotive industry when it came to building dependable cars – but not, it seems, any more. A survey of nearly 40,000 car owners by the consumer publication What Car? has named the current generation Volkswagen Tiguan as the most unreliable car up to five years old with some 75% of Tiguan owners reporting problems of some kind in the annual What Car? Reliability Survey.
FRANCHISED dealer group Waylands has announced another year of rising profits for 2025. Accounts show that the firm posted improvements in profit, turnover and EBITDA in a stellar 12 months to the end of December 2025. The documents show that the Reading-based retailer made a pretax profit of £4.14m, up from £3.1m this time last year. That growth was supported by improved revenue, which soared from £198.03m in 2024 to £266.17m this time around.
A DIRECTOR’S loan worth more than £492,000 could be subject to a repayment demand as administrators pick through the collapse of Ford dealer Pilgrims of March. The Cambridgeshire dealership entered administration last December after closing its Melbourne Avenue site and leaving customers in the dark. Six months on, administrators have revealed that a director’s loan account valued at £492,424 was disclosed in the company’s statement of affairs.
ADVERTISING FEATURE
IM Group partners with Car Care Plan Protex for branded motor insurance and accident assistance
I
At International Motors, we are committed to delivering exceptional customer support throughout the ownership journey. Darren James UK Group Resources Director at IM Group
nternational Motors Limited (IM Group) has partnered with the award-winning Car Care Plan Protex to offer branded motor insurance and accident assistance services for customers of Xpeng, Subaru, Mitsubushi and Isuzu. The partnership will see customers who purchase a new or used vehicle invited to obtain an annual motor insurance quotation ahead of the vehicle handover. They will then receive a complimentary £350 Excess Return Voucher, which can be used to cover any incurred excess costs following an accident. With Car Care Plans bespoke van insurance this will also include those customers who are purchasing a Mitsubishi or Isuzu pick up. Following the quotation, customers can also activate fully comprehensive driveaway motor insurance cover for up to five days free of charge, so they can get on the road immediately after the vehicle handover. These programmes provide a bespoke claims experience through manufacturer approved repairers – who are audited and approved by Car Care Plan Protex – using genuine OEM parts. They are designed to support customers and provide peace-of-mind motoring in their new vehicle, while also driving customer satisfaction and retention rates for retailers. Customers will be able to access and activate their products through a simple registration process triggered by their retailer. Accident assistance will be supported with a convenient claims and management smartphone app, enabling a simple, quick, and efficient route for making a claim – supplementing the 24/7/365 telephone claims registration option already available.
This new partnership adds to Car Care Plan’s longstanding relationships with many of the industry’s leading manufacturers and retailers, spanning more than five decades of award-winning vehicle warranty and aftersales product provision. Several of Car Care Plan Protex’s manufacturer and retailer programmes won the Feefo Gold Trusted Service Award in 2025, reflecting a consistent delivery of exceptional customer service. Simon Cook, Sales Director at Car Care Plan, said: “We are delighted to be working with the IM Group to offer branded retail motor insurance and accident management services to their network of customers. “IM Group’s approach to strong aftersales support aligns perfectly with our ambition to offer comprehensive, branded insurance and accident management solutions to their customer base – ensuring a seamless vehicle purchasing journey and peace-of-mind motoring from day one.” Darren James - UK Group Resources Director at IM Group, said: “At International Motors, we are committed to delivering exceptional customer support throughout the ownership journey, and this new partnership with Car Care Plan Protex further strengthens that commitment. “By offering branded motor insurance and accident assistance services, we can provide our customers with greater convenience, confidence, and peace of mind from the moment they collect their vehicle. We look forward to working together to enhance the customer experience and support our dealer network across the UK.”
For more information go to carcareplan.com CarDealerMag.co.uk | 09
EVENT
WHICH DEALERS HAVE MADE THE CUT? Shortlist revealed following the first round of mystery shopping
T
he shortlist for the Used Car Awards 2026, sponsored by Black Horse, has been revealed today after a tough first round of mystery shopping. Our team of mystery shoppers have completed their job, calling, messaging and visiting dealers across the country to whittle down our Nominations List. The businesses’ performances were cross referenced with online reviews and feedback from a variety of platforms, while judges assessed citations for the nominated businesses, before making the cut. Below, you can see who made our shortlist and who will be in the running for our Used Car Awards 2026, sponsored by Black Horse, on Monday, November 30. At the event, taking place at The Brewery in central London, awards host Mike Brewer will name a winner and two highly commended placed firms in each of the categories at a glittering ceremony. Judge and awards host Brewer said: ‘Well, that was a very tough job indeed. Cutting down those businesses that made the Nominations List to the Shortlist has been hard, but there were some real gems in there. ‘It was especially interesting looking at the expanded Customer Care category entries as there were some very good businesses that clearly look after their customers.
‘It’s not long now until the big day, and I can’t wait to be up on that stage, handing out the trophies to people that have worked so hard to be there.’’
HOW TO BOOK YOUR TICKETS
The Used Car Awards, sponsored by Black Horse, will be held on November 30 and it is highly advisable to book your table at the event now as places are running out fast. Last year the event sold out. For table bookings, please contact sales@blackballmedia.co.uk or call 020 8125 3880. The event is black tie, includes a threecourse dinner and unlimited beer and wine. Cazoo will be sponsoring the pre-dinner drinks and providing an after-dinner fun casino. There will also be an invite-only after party sponsored by RAC Dealer Network. Car Dealer editor in chief James Baggott added: ‘Congratulations to all those businesses that made it through the mystery shopping phase. ‘It’s been an eye-opening round this year as the team spoke to hundreds of dealers up and down the country. ‘There were some brilliant businesses that really shone out – and they’ve certainly taught me a thing or two about what good looks like. I can’t wait to celebrate their success on the night in a few weeks’ time.’
Shortlist Dealers' Dealer Sponsored by DealerKit Jamie Caple, Car Quay Rob Cubitt, Cubbitt Cars Steven Douglas, Really Easy Car Credit Richard Norris, Drive Green Craig Walker, Culloden Cars Service abd Repair Outlet Sponsored by DealerKit Autorepair UK LM Motor Clinic Marieston Service Centre MB Motors Bosch Approved Service Centre Specialist Vehicles Used EV Dealership Sponsored by Warrantywise Car360 Cleevely Electric Vehicles Erl’s Vehicles EV Experts Exclusive Cars GB Social Media User Sponsored by CMe Automotive Acklam Cars Auto Sportiva Bowen’s Garage Henson Motor Group Solo Car Sales Use of Video Sponsored by Carwow Acklam Cars Car Quay Culloden Cars Drive Green VanStar Used Car Website Sponsored by Visitor Chat Dicksons of Inverness Infinity Motors Richlee Riviera Automotive Van National Used Car Online Sales Experience Sponsored by Central Car Auctions Burton Kia Car Planet Infinity Motors Oakdene Collection Saxton 4×4
For table bookings, please email sales@blackballmedia.co.uk or call 020 8125 3880
10 | CarDealerMag.co.uk
Click here to book your tickets to UCA 2026 Specialist Used Car Dealership Sponsored by Warranty First Acklam Cars AutoSportiva Jubilee Automotive Group Nicholas Mee & Company Romans International
Used Car Customer Care: Manufacturer Sponsored by RAC Dealer Network Honda Lexus Mazda Subaru Volvo
Used Car Supermarket Sponsored by Cazoo Henson Motor Group Hilton Garage HPL Motors Infinity Motors V12 Sports & Classics
Used Car Dealer Principal Sponsored by Warranty First Malcolm Beattie, MB Motors Leigh McAvoy, LM Motor Company Martin Miller, EV Experts Laurence Moreno, Mastercars Bedfordshire Jay Singh, Ask Motors
Used Car Sales Team Sponsored by Diamondbrite Acorn Specialist Cars Car Motion Carvender Corus Commercial Vehicles Limited Crompton Way Motors
Used Car Dealership: Up To 50 Cars Sponsored by Black Horse Carite Ltd Crompton Way Motors Culloden Cars Imola Automotive JMC Used Cars Ltd
Future Star Sponsored by Northridge Finance Cole Kaye, Corus Commercial Vehicles Limited Joe Hemsley, Oakdene Alex Isaacs, Carite Kaylen Kirew, Car Quay Theo La Fontaine, The Drivers Gallery
Days to Turn Sponsored by Autotrader Abbey Park Cars Grange Farm Motors Suffolk BVG Automotive Thame Cars Stirling Renault / Dacia / Hyundai / Vanstore
Used Car Dealership: 51-100 Cars Sponsored by Black Horse Catalina of Stanningley Clovelly Cars Ltd Family Cars NI George Kingsley Plympton Car Centre Ltd
Used Car Customer Care: Up to 50 cars Sponsored by RAC Dealer Network Auriga Cars Carite Ltd Crompton Way Motors JMC Used Cars Ltd SVM Automotive Ltd
Used Commercial Vehicle Dealer Sponsored by Close Brothers Motor Finance Anchor Vans David Spear Commercials Norwich Van Centre Time Motors VanStar
Used Car Dealership: Over 100 Cars Sponsored by Black Horse Automatic Cars Limited The Drivers Gallery First4car Hitchfields Luton Trade Centre
Used Car Customer Care: 51-100 Cars Sponsored by RAC Dealer Network Ask Motors Burton Kia Clovelly Cars Ltd GKS Of Ivybridge Ltd Solo Car Sales Used Car Customer Care: Over 100 Cars Sponsored by RAC Dealer Network The Drivers Gallery Plympton Car Centre Redgate Lodge Motor Group RS Car Sales Savannah Cars Used Car Customer Care: Car Supermarket Sponsored by RAC Dealer Network Car Planet Fords of Winsford HPL Infinity Motors V12 Sports & Classics
Used Car of the Year categories Sponsored by Autoglym No shortlist announced Manufacturer Used Car Scheme Sponsored by Aviloo Hyundai Lexus Mazda Renault Renew Tesla Approved Used Newcomer Dealership Sponsored by Trade 2 Trade August Performance Browns of Richmond Oakdene Collection PMB Automotive Riverwood Select
Used Car Dealership Group Sponsored by Black Horse John Clark Motor Group Richmond Motor Group Swansway Motor Group Vines Waylands Outstanding Achievement Sponsored by Nichibo No nominations announced Lifetime Achievement Sponsored by GardX No nominations announced
The Used Car Awards 2026 will be held at The Brewery in London on Monday, November 30
For table bookings, please email sales@blackballmedia.co.uk or call 020 8125 3880
Sponsored by
CarDealerMag.co.uk | 11
BigMike OUR MAN ON THE INSIDE SHARES HIS THOUGHTS ON THE CAR BUSINESS Who is Big Mike? Well, that would be telling. What we can say is he’s had more than 40 years in the car trade so has probably forgotten more about it than we’re likely to know.
12 | CarDealerMag.co.uk
COMMENT
After an enforced break I’m back... and raring to go!
W
ell, I hope you’ve missed me. Apologies for the radio silence, but due to an unfortunate financing miscalculation, related to things I perhaps should have paid but didn’t, I’ve had an enforced break in an en-suite room for a while, and I’ve had to pick myself up, dust myself off and start again. I’ve also noticed that in a very short period of time, the entire car industry appears to have been turned on its head. I’m too much of an old codger to embrace change, so rather than faff about with charging units and the like, I’m going to eke out my career selling classic cars and ‘Youngtimers’, though that phrase itself baffles me. A 30-year-old Volvo with 200k up its jacksie isn’t exactly that young, after all. It did, though, get me thinking about what we are going to regard as classics in another 20 or 30 years. I was at a show the other week and half of the cars on display were old bangers that I used to peddle – if only I’d managed to draw a crowd of people to stand in awe and point at a Citroen XM when I was running a main agent in the Nineties, I may not have found myself in the awkward pickle I was in and would be instead sunning myself on my yacht in the Bahamas, rather than still pushing tin well into my seventh decade from a slab of broken concrete just outside the Jewellery Quarter. But I digress. It got me thinking about how these ‘modern’ classics, which are now my bread and butter, came to be regarded as what they are. It is, in part, because the midnineties represented ‘peak car’ – great to drive, easy to maintain and not irritating. And by that, I mean they don’t bing and bong every five minutes, or try to wrestle the steering wheel out of your grip if you have the audacity to change lanes without indicating. Irksome, loathsome stuff that I don’t think anyone actually likes. But maybe I’m wrong? Maybe the nostalgia that, as a Brummie lad, makes me go weak at the knees at the sight of an MG ZT or a Jaguar XJ8 will transmute into a love for Nissan Jukes. Maybe, 30 years from now, I’ll be pointing at a Kia Sportage from under my carer’s blanket, dewy-eyed at the fact somebody preserved one. I’m not convinced, though. Back in the eighties and nineties, cars still had identity. If you walked around a car park 30 years ago, you could tell the difference between a Ford, a Vauxhall, a Peugeot or a Renault without having to get close enough to read the badge. These days, you can sometimes struggle even when you are standing next to them. There are exceptions, of course, and there will always be cars that enthusiasts latch onto because they are different. The last of the really good hot hatches, for example, are almost certain to have a following, as are the final generations of some of the traditional sports cars before manufacturers started replacing them with electric alternatives. The problem is that we don’t really know which cars those will be yet. I remember when cars that are now considered modern classics were simply used cars. A Mk2 Golf GTI was an old Golf and an E36 BMW was something you bought because you needed a reasonably cheap second-hand car and fancied looking slightly more successful than you were. Nobody was putting them away for the future. In fact, quite the opposite was happening, because most of us were running them into the ground and then moving on to something newer. The idea that somebody would one day pay serious money for a standard 1990s hatchback would have sounded completely ridiculous. But will the same thing happen? Will the teenager who is currently being taken to school
A Mk2 Golf GTI was an old Golf and an E36 BMW was something you bought because you needed a reasonably cheap second-hand car.
Maybe the nostalgia that, as a Brummie lad, makes me go weak at the knees at the sight of an MG ZT or a Jaguar XJ8 will transmute into a love for Nissan Jukes.
in a 2026 electric SUV and be in his forties by the time that car is 25 years old suddenly see one at a classic car show and remember sitting in the back of it while his dad complained about the traffic, and got lost in a series of menus trying to turn the air-con down by half a degree?
T
he other big question is whether modern cars will actually survive long enough to become classics, because they are getting increasingly complicated and there are already plenty of relatively young cars where keeping the electronics working is a bigger challenge than keeping the mechanical parts going. I can understand how to fix an old Mini. I know my way round a hydraulic Citroen (they’re simple really, you just need to understand plumbing) and I’m confident I could work out what most of the bits do on most cars of the early 2000s, even if I might need somebody younger and fitter to actually lie underneath them. But with modern cars, I’m not sure where I’d start. There will probably be a thriving industry in 2045 repairing electronic control units for cars that were considered perfectly ordinary in 2025, and I can already imagine somebody advertising on Facebook Marketplace that they can recode a 20-year-old Volkswagen using a laptop and a cable for £150. There will be people who want these cars because they represent the beginning of a completely different period of motoring, in much the same way that people now want some of the first mass-produced fuel-injected or turbocharged cars. But unlike an old British banger, you’re not going to be able to resurrect a modern EV with a can of WD40 and five litres of fresh unleaded to spice up the old stuff in the fuel lines. I can imagine a 2050s enthusiast opening the bonnet of a 2026 electric car, looking at all the electronics and then deciding that restoring a 1960s MGB would probably have been a better bet So, perhaps classic cars will stick rather than twist, and if I’m canny enough to buy the right ones, perhaps I’ll be able to pay my tax bill next year…?
You’re not going to be able to resurrect a modern EV with a can of WD40.
CarDealerMag.co.uk | 13
FORECOURT
SKODA PEAQ
Power
The single electric motor produces 282bhp and 800Nm of torque. 0-60mph takes 6.8 seconds.
The new Peaq is more luxurious than any Skoda before it, but does it get this brand’s usual no-nonsense practicality too? Jack Evans finds out.
WHAT IS IT? Skoda’s Kodiaq has been a key member of the practical seven-seater club for a little while now. In fact, it’s been around since 2017 and, since then, has established a reputation for being reliable, practical and downright easy to get along with. There hasn’t been an electric version – until now, that is. The arrival of the Peaq (pronounced ‘peek’) marks not only a moment when Skoda enters into the electric sevenseater segment, but also a push towards a more premium end of things. We’ve been testing it out.
THE KNOWLEDGE Skoda Peaq Price: £51,980 Engine: Single electric motor
WHAT’S NEW? The Peaq sits on Volkswagen Group’s MEB platform, which has been used underneath a vast number of its cars. Vehicles ranging from the Volkswagen ID.3 through to the Cupra Born and even Skoda’s own Enyaq have used it, with its flexibility meaning it can underpin cars of varying lengths. The Peaq is likely one of the longest cars that has used MEB, too, and at 4.87 metres, it’s a fair bit longer than the 4.75-metre-long Kodiaq. The net result? An electric car designed with space in mind and enough room for seven people to sit comfortably.
Power: 282bhp
WHAT’S UNDER THE BONNET? The Peaq is available with a trio of powertrain setups. There’s the entry-level 60 with its 59kWh battery and a 285-mile range, then a pair of ‘90’ models with a single-motor version linked to an 86kWh battery for 395 miles. There’s then set to be a dual-motor ‘90X’ version. It does mean that all models offer a decent amount of distance between trips to the plug, but it’s expected that the one we’re in – the standard 90 – will be one of the most popular. It also gets a full-whack charge rate of 199kW, resulting in a 10 to 8% charge time of 28 minutes.
Max speed: 99mph
WHAT’S IT LIKE TO DRIVE? Skoda seems to have really pushed the envelope in terms of refinement with the Peaq. From behind the steering wheel, it’s comfortable, easy-going and – most importantly – quiet. We tested the Peaq on some long sections of highway and it’s here where it felt at its most cossetting, though it’s still very hushed around town and through bends too. The steering isn’t bad, either, and though the Peaq suffers from the same spongy brake pedal which seems to afflict all MEB-platform products, it’s still a very easy car to drive. With a 0-60mph time of 6.8 seconds, it’s not lacking in performance either and gets up to speed in a quick enough time. 14 | CarDealerMag.co.uk
Torque: 800Nm O-60mph: 6.8 seconds
Range: 391 miles Charging speed: 199kW
Style
Many of the design cues on the Peaq are shared from other of the brand’s line-up.
HOW DOES IT LOOK? There’s enough connection between the Peaq and other cars within the Skoda models to establish it as a true part of the Czech brand’s line-up. The front-end design, for example, is different enough from cars like the Enyaq, yet different enough that things haven’t become stale – to our eyes, at least. Skoda has fitted ‘flush’ style door handles – they’ve got a traditional handle element to them so that you can push them in to operate them – but in honesty, we’d rather that they’d just fit ‘regular’ versions. Skoda has done a good job of disguising the car’s long proportions, too, with large wheels shoved up to the corners and very little in the way of overhangs. We’re big fans of the dark green and copper colours available on the Peaq, too. WHAT’S IT LIKE INSIDE? Space is one of the most noticeable things about the Peaq’s cabin. Legroom for those in the middle row is excellent and with plenty of glass it’s all very light and airy. The rearmost seats in seven-seater cars can be seen as ‘occasional’; they’re a little too tight for adults to sit there comfortably for any real period of time, but for smaller children they should prove to be just fine. In terms of boot space, the Peaq’s 890-litre load area with the rear seats folded down is more than plentiful enough, while this can be increased to a huge 2,150 litres by folding down all seats. Even with the third row in place, there are 299 litres when loaded to the headrests, making the Peaq a very practical option.
With a long range and decent charging speed, it ticks the usual EV boxes nicely.
WHAT’S THE SPEC LIKE? In the UK, the Peaq range will kick off with SE L grade which comes in at £51,980. It’s more expensive than the Enyaq but designed to act as the flagship for Skoda’s EV range, so the uplift in price is natural. Standard equipment levels are good, mind you, with 19-inch alloy wheels, heated front and rear seats and a 13.6-inch infotainment system all included as standard. That aforementioned infotainment feels like a big jump forward for Skoda and while it’s good to see the brand progressing tech-wise, it’s even better to witness it remembering that functionality is such a core part of its values. It’s reflected in the proper physical toggle controls for heating and ventilation located under the main display – they’re so much easier to use than if they were located within the screen itself. VERDICT The Peaq feels like a genuine jump forward for Skoda. It feels premium, well-made and tastefully finished, yet with its large boot and seven-seater capacity it’s just as practical as you’d expect a Skoda to be. With a long range and decent charging speed, it ticks the usual EV boxes nicely, too. Skoda seems to have created a family-focused EV that could be hard to beat.
Cabin
The interior of the Peaq is very light and airy and there’s plenty of room in the back too.
TARGET BUYERS:
Drivers who like the Enyaq but need more space and seating.
THE RIVALS: Mercedes EQB Kia EV9 Volvo EX90
KEY SELLING POINTS:
1. Loads of space 2. Refined driving experience 3. Plenty of equipment
DEAL CLINCHER: The Peaq feels like a genuine step forward for Skoda thanks to its tip-top refinement and excellent practicality.
CarDealerMag.co.uk | 15
Geely EX2
CHINA-GE
This EV supermini majors on space, generous equipment and practicality – plus it looks cute! Performance is modest and it feels smooth, although there’s little fun to be had. Cheap though, with prices from £21k.
We test China’s newest car brands to arrive in the UK to see what all the fuss is about 16 | CarDealerMag.co.uk
Omoda 9
Lepas L8
Aion V
Omoda’s current flagship SUV combines striking styling and a lavishly equipped cabin. Acceleration is very brisk, while 93-mile electric range is impressive. Handling feels secure rather than fun.
Lepas is Chery’s premium brand, and the exterior styling looks posh enough – there are shades of Audi and Porsche. Interior feel is less convincing, but you can’t argue with the price – it starts at £35k.
The V is a very spacious EV offering competitive range, rapid charging and loads of kit. While its unremarkable to drive, the interior fit and finish is excellent, and Aion offers a compelling eight-year aftercare package.
Jaecoo 7 It’s the most well-known of the Chinese newcomer cars – so much is it’s been a frequent top-seller in 2026. While it might be very average to drive, the Range Rover-aping looks are undeniably appealing.
EDDON! GWM Poer300
Leapmotor B10
Changan Deepal S05
Chery Tiggo 9
Pronounced ‘Power’, this is an old-school diesel pick-up and comes from Great Wall Motor. It’s simple and well-equipped, but perhaps a little crude. Changes in pick-up tax regs dents its appeal to business users, too.
Keenly priced and packed with equipment, the B10 will be appealing to some families. It’s pretty quick on the move, but soft body control and very light steering are frustrating. Also, does it look too anonymous?
Penned by Changan’s Italian design studio, the Deepal S05 has a stylish, Euro look to it. Interior quality and refinement levels impress, and there are some odd quirks – external loud speaker, anyone?
Smart styling, plush interior feel, space for seven and an excellent 91-mile electric range, the Tiggo 9 is one of the most convincing Chinese newcomer cars. Competitive £43k asking price is the ‘cherry’ on top. Sorry.
BYD Dolphin G DM-i
Do superminis need plug-in hybrid power? BYD thinks so, and the Dolphin G is a market first. Spacious, attractivelystyled, well-equipped and practical, the ‘G’ has a lot going for it. One to watch we feel.
Click here to watch our Chinese cars road test video
CarDealerMag.co.uk | 17
DASHBOARD
JAMES’S VIEWS ON THE NEWS What’s happening?
A
re diesels dead? It’s a question many car dealers are asking themselves as prices at the pumps top £2 per litre and demand dries up. I’ve been on the road a lot this month and didn’t see one fuel station selling diesel at anything less than £2 and in one motorway services it was £2.17. If it carries on like this they’ll run out of space on those digital displays… I’ve been hearing from a variety of experts on what this is doing to the used car market, how prices are being affected and what could happen next. As the price of diesel has increased, demand for cars powered by it has been steadily dropping. Used car market expert Derren Martin told us this month that he has been carefully studying the data. He analyzes thousands of adverts using the Cazana pricing platform every week and has seen the number of diesels advertised drop significantly. Martin said a very small percentage of cars on the Cazana platform, advertised by dealers around the UK, are now diesel powered. ‘I think you’d be a brave dealer to stock them,’ said Martin. ‘The Cazana data shows there are now really, really low volumes of diesels which you could say is because not many dealers are buying them.’ A quick search of Autotrader shows that out of nearly 450,000 cars for sale in the UK half of them are petrol, a quarter are now electric or hybrid and a quarter are diesel. A decade ago diesels accounted for around 40% of used car sales. Prices of used diesels are dropping fast too. Cazana looks at the prices dealers are advertising their cars for on the retail market and spots trends when they cut prices. In the last month, he told us that diesel values had fallen 1.8%. When compared to petrols, which fell only 0.5%, that’s quite a difference. Martin added: ‘It’s eye opening when you 18 | CarDealerMag.co.uk
see dealers actually turning them away from part exchanges and telling customers to go to a car buying service instead to sell their diesel car, because they don’t want them. That is quite telling.’ Electric car dealers we spoke to recently also said they were refusing to take diesels in part exchange as the prices were so volatile and the chances of selling them on, even to the trade, diminished. This shift away from diesels is boosting electric car demand. Cargurus revealed this month that six of the fastest selling used cars in September were electric. The fastest selling car was the MG5, selling in 25 days. Even more telling was the fact that it was nine days quicker than this time last year for the same car. ‘With fuel prices rising once again, motorists are increasingly turning to electric vehicles, driving up demand,’ said the firm. While the high fuel prices might be a temporary blip as the global factors pushing up prices continue to play out, customers falling out of love with diesels might be permanent. Martin added: ‘Even if prices do drop back down below two pounds a litre, which I’m sure they will at some point, the damage has been done.
Used cars advertised
Source: Autotrader, October 7 Total cars: 445,247 Petrol 49.34% Diesel 25.75% Electric 6.10% Hybrid 18.75% Bi Fuel 0.06%
Fastest selling used cars
Source: Cargurus, September 2026 MG 5 25.2 days Tesla Model 3 27 days Mercedes-Benz EQA 28.8 days Skoda Enyaq 29.6 days Mazda6 30.5 days Dacia Jogger 30.8 days Volkswagen ID.3 30.8 days Volkswagen ID.4 30.8 days MG HS 31.3 days Hyundai IONIQ 31.4 days
‘Once the general message that diesels are more expensive to run gets through and then you compare it to an EV, where it seems to be a rosier situation, it’s difficult to see them coming back.’ I asked Autotrader whether it thought the death
What I’ve heard
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The Need to Knows
Administrators ‘assist police’ after collapse of supercar dealer GVE London ADMINISTRATORS of collapsed supercar dealer GVE London are assisting police and government agencies while investigating concerns over customer funds, potential preferential payments and trading while the company may have been insolvent. FRP Advisory is also examining vehicle transactions and a company investment transferred before the collapse, with possible legal action under consideration. Creditors are owed £4.39m, but administrators currently expect no payout, while HMRC is unlikely to recover its £277,645 debt.
UK government preparing tariffs on Chinese electric cars THE UK government is considering tariffs on Chinese electric cars amid pressure from Brussels, according to The Times. The EU reportedly wants Britain to impose import duties or risk exclusion from its proposed ‘Made in Europe’ scheme, potentially affecting UK car exports. Chinese brands accounted for almost a quarter of UK new car sales in September, while Nissan has urged ministers to reconsider tariff policy. No final decision has been made, but the measures could push up showroom prices.
knell had been rung for diesel. ‘Diesel isn’t dead, but there’s no question its position is being squeezed,’ said the firm’s Ian Plummer. ‘On our marketplace, diesel’s share of enquiries for used cars aged up to five years old has more than halved in the last month, falling from 6.6% to 3.2%, while the average used diesel is now taking 34 days to sell – three days longer than a year ago.’ Plummer said we shouldn’t write off diesel just yet though as among older cars they still account for four in 10 enquiries. ‘For many drivers and businesses there simply isn’t a viable alternative yet,’ he added.
Jaguar Type 01: The EV tasked with reinventing the British brand
JAGUAR has unveiled the Type 01, its first production car under the brand’s controversial electric reinvention. The UK-built four-door luxury GT produces a staggering 1,016bhp, making it the most powerful Jaguar ever, with a claimed 450-mile range from its 118kWh battery and a 0-60mph time of around three seconds. The striking newcomer retains much of the Type 00 concept’s radical styling and is expected to cost around £130,000.
‘The used van market is a good example. It’s around three years behind cars in the shift to electric, with EVs accounting for just 11% of stock aged under three years. ‘And with tradespeople typically relying on older used vans, it will take time for enough electric stock to filter through to give many operators a genuine alternative.’ He added: ‘Diesel demand may be shrinking, but it isn’t disappearing. For retailers, the opportunity is increasingly about knowing where that demand remains and being forensic about sourcing, pricing and stocking the right vehicles.’ That said, I still think you’d be a pretty brave dealer to stock up on diesels right now…
IF you thought the first half of this year was a little tough, buckle up, because an economist says there are some big hurdles to overcome in the next six months. Speaking at the MotoNovo Finance conference, Thomas Broom, from Aldermore, gave a stark assessment of the headwinds dealers will be facing. Broom said inflation could hit 4% in the coming months, with food prices rising by at least 5% over the next year. Couple that with higher energy bills and expensive fuel, and he believes households are likely to have even less money to spend on anything else – including cars. Broom described the situation as an ‘additional tax on consumption’. What he means is consumers will be forced to spend more on essentials, leaving less in their pockets for big purchases. For dealers, like you and me, that could mean customers hanging on to their cars for longer and thinking twice about changing. Fuel prices – sent soaring by the war in Iran – don’t help either. Broom suggested petrol could hover around 160-170p a litre, with diesel considerably higher for some time yet. He said that would make economical used cars and hybrids increasingly attractive, while putting pressure on demand for thirstier models. Interest rates were another concern. Financial markets were pricing in a full percentage point increase in base rate, although he thought rises of 0.5-0.75 percentage points were more likely. Much of that is already reflected in finance pricing, but cheaper borrowing doesn’t look to be arriving any time soon. And when customers are paying more for their mortgages, they’re again less likely to splash out on a new car. The jobs market isn’t providing much comfort either. Businesses are choosing not to replace departing staff rather than making redundancies. Wage growth is expected to settle around 3-4%, broadly matching inflation, which means most people aren’t going to feel richer any time soon. CarDealerMag.co.uk | 19
DASHBOARD
CAR NEWS ROUND-UP
Manufacturers have been refining their models and producing new ones. We look at some of the results...
REVEALED
Range Rover Sport Electric arrives with 374-mile range
THE Range Rover Electric line-up has been broadened with the release of a new Sport model. In previous generations, the Sport has acted as the more dynamic model within the range and this appears to be the focus of the new battery-powered model, too. Underneath, the Range Rover Sport Electric shares the same underpinnings as petrol, diesel and plug-in
hybrid models, but uses two electric motors linked to a 118.5kWh battery for a total claimed range of 374 miles. Rapid charging capability means that the Range Rover Sport Electric can go from 10 to 80% charge in 22 minutes, too, while owners who look to top-up at their property can choose an optional home charger to have installed.
ASTON MARTIN
VAUXHALL
VOLKSWAGEN
TUCSON
New DBX GT to deliver top-level refinement
Astra gets price cut and manual gearbox
ID.Tiguan to broaden brand’s EV line-up
Hyundai’s new Tucson revealed
VAUXHALL’S Astra hatchback and Sports Tourer estate have received a price cut and can now be ordered with a manual gearbox. Customers can order the Astra with a 1.2-litre threecylinder turbocharged petrol engine that sends its power through a six-speed manual gearbox. The entry-level Griffin model is now priced at £26,495 – that’s £1,000 less than the automatic model.
VOLKSWAGEN has added a new member to its line-up of electric vehicles – the ID.Tiguan. Following on from the ID.Polo and ID.Cross, the ID.Tiguan is the latest car from Volkswagen to use an established name alongside the new ‘ID’ badging. The ID.Tiguan is set to replace the existing ID.4 and ID.5 models when it goes on sale at the start of next year.
HYUNDAI’S Tucson has returned, bringing a new exterior design and a high-tech interior to the popular SUV. Set to make its public debut at the Paris Motor Show later this month, the new Tucson uses Hyundai’s latest ‘Art of Steel’ exterior design with a far bolder and chunkier appearance than its predecessor. Front occupants can also access a large infotainment system.
ASTON Martin has released a new, more refined version of its DBX SUV – the GT. The new GT model has undergone a number of chassis tweaks designed to make it more composed over long distances while still delivering plenty of power. Unique to the GT is a range of ‘suspension enhancements’ which make the whole car ride more comfortably over poor surfaces.
2026 sub-prime finance 20 | CarDealerMag.co.uk
SPLASH OF COLOUR
Nissan enters compact EV segment with new Pixo NISSAN has launched its own entrant into the flourishing compact electric vehicle segment with the Pixo. Underpinned by the same platform as the Renault 5, the Pixo has been designed to offer compact proportions that will help to make it easy to drive around town. With a 27.5kWh battery, the Pixo offers a range of up to 161 miles, while a maximum charging speed of 50kW means a 10 to 80 per cent charge will be completed in around 30 minutes. On the outside, the Pixo has a ‘robot face’ design and will come with a variety of eye-catching colours, including Wonder Purple and Gear Blue. The Pixo gets a 60kW electric motor, while a tight 9.9-metre turning circle should mean it will prove handy when navigating urban streets and roundabouts. There’s also a 356-litre boot, while Nissan says that 18 litres of additional storage is dotted around the cabin.
Appy days.
The new and easy way to send your customer finance applications... BMW
TORCAL
Petrol-powered 3 Series returns
Bentley has launched its first electric car
BMW’s petrol-powered 3 Series has returned for a new generation to run alongside the recentlyintroduced electric i3. Set to arrive early next year, the new 3 Series enters into its eighth generation and does so with more technology than before as well as a sharper, more focused exterior design. Priced from £44,975, it will initially be available with two petrol engines.
BENTLEY has launched its first electric car – the Torcal. Arriving as the brand’s fourth model, the Torcal uses a large 113kWh battery which is linked to two motors for a combined output of 876bhp and 1,350Nm – the most torque that any Bentley has delivered. In all, the Torcal can go from 0-60mph in 2.8 seconds while full active suspension should help the car to remain flat when cornering at high speeds.
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The latest about ‘our’ fleet Long-termers: p27
DASHBOARD
INDUSTRY VIEWS NEWS AND THOUGHTS FROM CAR DEALER LIVE
You can watch all our Car Dealer Live broadcasts by clicking here: cardealermagazine.co.uk/live CAZANA
Everyone was going to start considering electric vehicles at some point, but it’s happened a lot quicker.
Derren Martin Automotive expert
Used car prices fall for first time this year – but EV values keep climbing
U
sed electric car retail prices have risen by almost £2,000 in recent months as soaring fuel costs accelerate demand – but it comes as overall used car prices have slipped for the first time this year. Latest figures from Cazana – shown to Car Dealer ahead of wider publication – reveal three-year-old EV values increased by another 1.6% – around £330 – during September. It was the sixth consecutive month in which electric cars recorded the strongest percentage gains of any fuel type, taking their average increase over recent months to 9.1%, or almost £2,000. Speaking exclusively to Car Dealer automotive expert Derren Martin said the combination of increasingly competitive used EV prices and rising petrol and diesel costs had created a ‘perfect storm’ for demand. He said: ‘Electric vehicles, for most of this year, have now been very close to petrol equivalent cars, and that was what was needed. ‘People weren’t going to pay a load more money for an electric vehicle. They wanted to pay similar to what they would pay for a petrol car to be sort of
asked to switch into one. ‘Then you’ve got petrol and diesel prices going up and it’s kind of the perfect storm. It’s just accelerated. Everyone was going to start considering electric vehicles at some point, but it’s happened a lot quicker than that.’ Martin said the total cost of ownership was also increasingly compelling for buyers able to charge at home. He added: ‘They’re very appealing now to the consumer. Once you get over the range anxiety and any concerns around that, then it works really well for you.’ The EV performance helped cushion what was otherwise the first monthly fall in average three-yearold used car values recorded by Cazana in 2026. Overall prices slipped 0.2%, equivalent to around £50, following a 0.5% increase in August. Petrol values fell 0.5% during September and hybrids were down 0.3%, but diesel suffered a much steeper 1.8% decline. Diesels now account for just over 3% of threeyear-old cars advertised by dealers in Cazana’s data, compared with 13% for EVs.
PODCAST
Could aggressive new-car finance deals create a future used car headache for dealers? WILL aggressive new-car finance deals pull customers out of older used vehicles while storing up a residual value headache for dealers further down the line? That’s what the Car Dealer team discussed on a recent episode of the podcast. You can watch the video of the recording in full by on our YouTube channel, where the team Source: report Capfrom HPI, December their annual 2023 pilgrimage to Wales to
ST
PODCA
Sponsored by
22 | CarDealerMag.co.uk
test the best cars of the year. Host James Baggott said the strength of some new-car offers was already helping customers who might previously have remained in older used vehicles move into brand-new cars. He said: ‘There’s lots of these buyers have been dragged up from those used cars because they’re so cheap. They come with these huge warranties, servicing plans, and actually the
cars are very nice compared to a 10-year-old Vauxhall Mokka. These things are gonna look like spaceships, and you can see why these customers are going for them.’ The team also questioned whether manufacturers backing heavily discounted finance offers today could ultimately find themselves having to manage the effect on their own residual values.
CLICK HERE TO LISTEN TO OUR CAR DEALER PODCASTS
The sub-prime finance lender.
Fast decisions. Fewer declines. More deals done.
dealer.firstresponsefinance.co.uk Registered Office: First Response Finance Ltd, Chetwynd Business Park, 5 Regan Way, Chilwell, Nottingham, NG9 6RZ. Registered in England No. 03560611. Authorised and regulated by the Financial Conduct Authority ref no. 309356.
CarDealerMag.co.uk | 23
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FINANCE NEWS AI ROLLOUT
Close Brothers targets £60m in annual savings MIS-SELLING SCANDAL
BMW’s car finance compensation bill tops £600m by Rebacca Chaplin @believeBecca
B
MW has set aside more than £600m to cover its potential car finance compensation bill as its British motor finance business swung to a £139.3m pre-tax loss. The German car giant’s UK finance arm increased its provision for the motor finance mis-selling scandal by more than £400m last year, taking the total to £611.6m. The growing compensation bill helped push BMW Financial Services (GB) Limited into the red in 2025, following a £39.1m pre-tax profit the previous year. The figures, reported by The Times, were revealed in accounts filed at Companies House by the Farnborough-based lender. BMW had previously set aside around £207m to cover expected compensation payments by the end of 2024 but increased the provision substantially as the Financial Conduct Authority (FCA) developed its proposed redress scheme.
The £611.6m figure represents the provision remaining at the end of December 2025, after BMW used around £8m during the year. The business has also earmarked a further £25.5m for finance agreements that fall outside the FCA’s proposed scheme but could still result in customer complaints or legal claims. BMW warned its eventual bill could be ‘materially different’ from the amount currently set aside, given the uncertainty surrounding the regulator’s plans. The provision is among the largest announced by lenders caught up in the motor finance scandal. According to The Times, MercedesBenz’s UK motor finance business has set aside £424m, while Ford’s British finance subsidiary has made a £155m provision. Lloyds Banking Group faces an even larger bill, having earmarked £1.95bn, while Santander UK’s provision stood at £623m at the end of June.
CLOSE BROTHERS has revealed plans to strip out more than another £60m in annual costs amid plans to continue ramping up the use of artificial intelligence (AI). The banking group said it cut annual costs by around £36m in the year to July 31 – far more than the £25m initial target – after announcing plans in March to cut 600 jobs and trim its office network. In full-year results, it said it now expects to deliver more than £60m of annual savings cumulatively by the end of next July as efforts to outsource and offshore work abroad and cut back its office network and business functions are paying off. It added it was now ‘well into planning for the next stage of restructuring activity’, with a focus on bringing its support functions under one central division for the group and accelerating the rollout of AI. Chief executive Mike Morgan said he has no plans to axe further roles on top of the 600 announced. Around 200 of those jobs went in the year to July, with the remaining 400 set to go over the year ahead.
2026 sub-prime finance 24 | CarDealerMag.co.uk
IN ASSOCIATION WITH
TIME IS MONEY RICHARD PYGOTT
A MONTHLY LOOK AT THE WORLD OF AUTOMOTIVE FINANCE AND MARKETING
Built to last…
E
Richard Pygott is digital marketer for First Response. Call him on 0115 946 6365 or email richard. pygott@frfl.co.uk
arlier this month, one of our dealer partners visited our office, and it was really nice to see them again. I can remember speaking to them on the phone over the years, and even when I first started some 16 years ago! It’s been a while since I’d last seen them, and catching up got me thinking about just how much has changed over the years. Much like the motor trade itself, there’s been plenty of change here at First Response Finance, too. You can’t stand still in this industry, and we’re always looking at how we can make things better for the dealers we work with. Over the past six months alone, we’ve increased our credit limit for provisional licence holders from £6,000 to £8,000, made it easier for dealers to send us applications through WhatsApp, removed engine-size restrictions on certain applications and increased our maximum finance term to 61 months. All these changes give dealers more options and help customers find a car and a finance package that works for them. Those of you who already work with us will know that we’re a subprime lender that’s been around for 25+ years. We’ve seen plenty of uncertainty in that time, markets move and new competitors come and go, but we’re still here and thriving! For me, though, being around for 25+ years is about more than just how long we’ve been trading or how much we’ve changed along the way. It’s about the relationships we’ve built, the people we’ve got to know and the trust that comes from working together over many years. I’ve always believed that, while finance is what we do, people are the reason we do it. Whether it’s helping a dealer put a deal together, finding a way to help a customer or making a change that takes a bit of hassle out of the process, it all comes back to the people we work with. We can keep improving our products and processes, but I think it’s just as important that we never lose sight of the relationships behind them. For us, values are a reminder that looking after our people and doing the right thing for our dealers and customers are just as important as building a successful business. They all go hand in hand, and I think that’s a big part of what has kept us going for over two decades. Simply put, we’re here for the long haul. We’ll keep evolving, keep looking for ways to help and keep supporting our dealer partners, just as we have for the past 25+ years. We’re proud to say, ‘We’re First Response Finance’ and if you don’t currently work with us, we’d love to have a chat. Call us on 01156 711755.
All these changes give dealers more options and help customers find a car and a finance package that works for them.
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W: dealerdesk.co.uk E: contact@dealerdesk.co.uk Info: Modernise your stock management, advertising, communication, sales and website. DealerDesk provides you with easyto-use tools designed to simplify your dealership management.
W: blue.co.uk T: 020 3005 9331 E: dealersupport@blue.co.uk Info: Blue is transforming the car finance market, making car ownership simple and flexible and providing motor traders with access to essential finance.
W: gardx.co.uk/gardx-ad-vantage T: 01243 376426 W: closemotorfinance.co.uk/ Info: Close Brothers Motor Finance are E: goforaspin@gardx.co.uk a specialist finance provider, working Info: The award-winning 360 service offers an engaging display of the with over 8,000 dealer partners to offer flexible finance solutions for car, vehicle while additionally presenting profitable F&I products to a consumer. motorcycle and LCV customers.
W: dealer.firstresponsefinance.co.uk T: 0115 671 1755 E: marketing@frfl.co.uk Info: First Response is an awardwinning UK finance company providing simple financial solutions. Get in touch and let us help increase your profits.
W: forzafinance.co.uk T: 01245 245678 Info: Benefit from Forza Finance’s expertise, choice of products and lenders. Their personal approach will help you achieve higher levels of finance penetration and, ultimately, sell more cars.
W: hrmanager.co.uk T: 01480 455500 E: info@hrmanager.co.uk Info: HR Manager is Lawgistics’ new digital compliance portal designed to assist employers in managing their legal obligations, responsibilities and duties.
W: tradesureinsurance.co.uk T: 0121 248 9313 Info: Providing motor trade insurance to full- and part-time motor traders in the UK, the Tradesure team are reliable professionals who know how to help you.
W: traka-automotive.com T: 0333 355 3726 E: automotive@traka.com Info: Bespoke software and electronic key management cabinets to deliver the most effective solution to dealerships to manage their keys and vehicles.
W: ivendi.com T: 0330 229 0028 E: tellmemore@ivendi.com Info: iVendi delivers a fully connected platform that engages consumers, converts buyers and manages transactions of vehicles online and in the showroom.
W: lawgistics.co.uk T: 01480 455500 E: sales@lawgistics.co.uk Info: The legal experts for the motor trade, giving advice and support to our industry for over 15 years. Not anti-consumer, just pro-trader.
W: oncuecomms.com T: 020 8125 3880 Info: We are a leading provider of PR, video and events services to the automotive industry. The PR team has a proven track record of securing high-value, big-impact media coverage.
W: marketingdelivery.co.uk/ T: 01892 599911 E: get.in.touch@marketingdelivery.co.uk Info: Our SocialStock helps target prospects with tailored stock remarketing and social media advertising tools, and automated lead capture for Facebook.
W: mobil.co.uk T: 0800 0857 420 Info: Whether using Mobil 1™ or Mobil Super™, Mobil™ engine oils meet or exceed the latest standards of the oil industry and vehicle manufacturers.
W: werecruitauto.co.uk T: 01603 550041 Info: Permanent recruitment – here to assist businesses within the automotive sector find the best fit for their company in terms of skillset, experience and culture.
W: ben.org.uk T: 0808 131 1333 Info: Ben is a not-for-profit organisation that partners with the automotive industry to provide support for life to its people and their families.
W: dealer360.co.uk T: 01270 780855 E: nicky.spratt@ukturntables.com Info: UK makers of photo booths incorporating our turntables for car, van and motorcycle dealers. Our software controls turntable and cameras – a onestop solution.
W: autoglym.com/professional T: 01462 677766 E: enquiries@autoglym.com Info: Award‑winning Autoglym Professional products deliver exceptional results with safe, easy application. supported by expert aftersales service, training and nationwide delivery.
W: metatrak.co.uk T: 020 8867 2340 E: enquiries@metatrak.co.uk Info: Total vehicle security. Clever tracking technology, advanced immobilisation, 24/7 monitoring and an easy-to-use app. Security. Connectivity. Peace of mind.
W: autoprotect.co.uk
T: 01279 406888 E: sales@autoprotect.net Info: AutoProtect offers a full portfolio of award-winning protection products, including GAP. We lead the market with an ‘Excellent’ rating on Trustpilot.
W: carcareplan.com T: 0344 573 8000 Info: Car Care Plan is a leading provider of motor protection products, trusted around the world to deliver quality protection with integrity and a customer-oriented outlook.
W: centurionwarranties.co.uk T: 0800 368 7420 E: support@cwuk.net Info: Centurion offers comprehensive aftermarket warranty solutions to motor dealers across the UK who sell first-owned vehicles through to high-end, prestige and sports cars.
W: handlerprotect.com T: 0800 088 7889 E: sales@handlerprotect.com Info: Händler Protect is an exclusive dealer warranty provider. Proud to partner and represent more than 1,000-plus ‘active’ independent motor dealers across the UK each month.
W: blueskyinteractive.co.uk T: 01926 651000 Info: Bluesky Interactive drive dealer websites and digital marketing forward thanks to game-changing innovation, the latest technology and our exceptional relationships with our clients.
W: haswent.com T: 020 3920 6164 E: hello@haswent.com Info: Composer is a next-gen automotive platform. You have extensive stock management options, and you’ll gain a brilliantly responsive new website.
W: spidersnet.co.uk T: 01273 837749 E: hello@spidersnet.co.uk Info: Websites that are designed to increase the number of customers for dealers. We have solutions for all budgets and needs. All solutions include our DMS Autopromotor.
To have your details included email sales@blackballmedia.co.uk and ask for Suppliers Guide listings 26 | CarDealerMag.co.uk
LONG-TERMERS
THE KNOWLEDGE Toyota C-HR+ Design
TOYOTA C-HR+ The new C-HR+ has arrived on test for a few months, so what are we finding out about it during those first few trips? Dave Brown reports.
E
lectric cars have certainly come a long way in the time I have been driving them. Who would have thought, even a few years ago, that models in late 2026 would boast ranges in excess of 350 miles? In fact, make that 377 in the case of the Toyota C-HR+, an example of which has just joined our fleet of long-term loan vehicles. The advances made by engineers and scientists at the world’s leading automakers deserve huge credit for making such big strides relatively quickly. So welcome aboard, GX26 XCE, a Design trim-level version of the C-HR+ crossover, and a car that, with a range larger than that of any EV I’ve driven before, can be taken up and down the country without any of the old-school anxiety. Our car sits in the middle of the line-up – between the Icon entry-level model and the Excel flagship – and is arguably the pick of the crop. It’s certainly eye-catching, with a Metallic Mineral paint job (a £655 option), 20-inch alloy wheels and rear privacy glass giving it real road presence. Safety and security are very much to the fore thanks to Toyota’s Safety Sense system; a pre-collision warning system with intelligent Adaptive Cruise Control; and Road Sign Assist. Front and rear parking sensors mean slotting it into the tightest of gaps is a breeze, and there’s even an alert that pops up to remind you to take possessions – maybe even your children? – off the back seats before you exit the vehicle. A word of warning, though: mute it if you arrive home late at night to avoid disturbing the neighbours. It’s easy to do. All in all, I have thoroughly enjoyed driving GX26 XCE in its first couple of weeks with us, even if I did have to do a quick Google search to work out how to actually propel it forward! Quite a few years driving models from a rival manufacturer have left me a little unfamiliar with the way other brands do things… But I love the circular drive / reverse / neutral functionality. A bit of downward pressure, and a gentle twist, and I was soon on my way. It’s a lovely piece of design. Charging at home has been a breeze – we already had a charge point when the car was delivered and thanks to our cheapish electricity tariff, journeys of any distance are very economical. Making the charging cable bright orange is a great idea, especially bearing in mind the time of year and the dark nights ahead. So what have we been up to in our newly arrived car? Well, trips to London to see our daughter and Northamptonshire for work have all been completed without any issues, and it’s about to get fully loaded up for a family weekend away. Trips already completed have let me know that charging on the go is straightforward. The C-HR+ can go from 10 per cent to 80 per cent in about 28 minutes, just enough time to grab a coffee and take a comfort break. But with its aforementioned range of 377 miles (did I mention I was quite impressed by that?), there won’t be much need for me to take a breather unless I actually want to. Nice to be able to say that while in (temporary) possession of this accomplished car.
Price (OTR): £36,995 Battery type: Lithium-ion Power (bhp/kW): 221/165 Torque: 268.6Nm 0-60mph: 7.1 seconds Top speed: 99mph Electric energy consumption (combined, miles/kWh): 4.23 Mileage: 3,211 miles
This month’s highlight: Using Google search to find out how to make the car go forward! Seriously though, we’re loving ‘our’ Toyota.
OTHER CARS WE’RE DRIVING
Mazda 3 Mileage: 1,720 We’ve just taken delivery our new Mazda and it’s come in a rather unusual colour!
Skoda Kodiaq Mileage: 1,873 Airport runs to family road trips. We’re finding out if Kodiaq can keep up with the family chaos! CarDealerMag.co.uk | 27
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