FCA on motor finance market

The Financial Conduct Authority tells us: 'We are looking at the motor finance market to ensure that it works well and to assess whether consumers are at risk of harm.' It goes on:

'Consumers’ use of motor finance has grown rapidly in recent years, with many credit products now available.

'As we set out in our Business Plan 2017–18, we are looking at this market to develop our understanding of these products and how they are sold, and to assess whether the products cause harm to consumers and if the market is functioning as well as it could.'

Details of the Authority's work, which naturally focuses on PCPs, are on its webiste (link in the first line above). It promises to publish an update in Q1 2018.

Automobile industry calls for balanced outcome in EU-Japan FTA

As the EU and Japan get closer to entering into a comprehensive free trade agreement, though it seems that it is being presented as a finished project despite there being a lot of loose ends to tie up, ACEA has drawn attention to some particular aspects important to the motor industry, according to this press release. The removal of tariffs on imports into the EU from Japan (currently 10 per cent on cars, and up to 22 per cent on commercial vehicles) must be balanced by a reduction in non-tariff barriers in the opposite direction, says ACEA. While opening the Japanese market to EU dairy products promises benefits to European producers, in the automotive sector - the other area in which the free trade agreement will be important - the benefits are likely to flow the other way. By drawing attention to the fact that under a free trade agreement with South Korea that has been in operation for nearly six years there are still outstanding problems with non-tariff barriers, the organisation emphasises the importance of having procedures to deal with disputes as well as encouraging collaboration in regulatory matters.



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Germany: new emissions testing body mooted

According to Reuters, the German government is considering setting up a new body to test for vehicle emissions. There has been something of a loss of faith in the existing system, and replacing the old body will help to restore consumer confidence, the government hopes.

US: Congress argues about legislation on autonomous cars

Members of Congress have differed over legislation on autonomous cars - but, this being the US, the arguments go beyond the rules themselves: it's a matter of who should be doing the legislating, states or the Federal authorities. Democrats argue that it's NHTSA that should be making the rules, while Republicans have a different take. The prospect of cars that stop working at state borders is not one that will help the prospects for the industry.

Read more, if you want to, from Reuters here.

US: New dealer protection law in Florida

Automotive News reports the enactment of a new law in Florida to give dealers (enhanced, presumably) protection in two important areas - the frequency with which manufacturers can require them to upgrade their premises, and the application of sales-effectiveness criteria, both matters of great importance to dealers against which they would be hard-pressed to find any protection in UK law.

US: Dealers take action against second Tesla store in Virginia

According to Automotive News the Virginia Automobile Dealers Association has received consent from a judge to proceed with an appeal in its attempt to block Tesla from opening a second store in the state. The appeal is against Virginia DMV Commissioner Richard D. Holcomb's decision to allow Tesla to open the second outlet, and the judge (Judge Gregory Rupe) decided that the VADA has standing to bring the appeal.

Three Bosch managers targeted as German diesel probe expands

Automotive News reports (from Bloomberg) that a German investigation in Stuttgart has focussed on three employees of Robert Bosch who are considered to have been involved in the development of cheat software for VW group. All are managers in the company. Bosch is also being investigated by the U.S. Department of Justice. German authorities in Braunschweig are also carrying out investigations into that the car manufacturer has done.



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