Over 100,000 cars are ‘mothballed’ at one single dockyard due to lack of demand. As new car sales have fallen through the floor the motor trade has been forced to stockpile vehicles and cease production on a temporary basis.
The dockyard in Bristol is estimated to have £1billion of stock awaiting demand. This is a scene which is echoed throughout Europe. A lack of demand from car dealers has left all the Motor Trade in crisis. However a welcome rest bite at this time of need is cheap Motor Trade Insurance from iQuote Insurance. In a move designed to assist hard pressed traders if you get a better motor trade quote elsewhere, they will beat your quote.
In the stockpile of vehicles are unsold Toyotas, Hondas, Vauxhalls and Mitsubishis imported from overseas. However the vehicles are stockpiled for anything up to four months before there is enough demand to shift the backlog of motors. Managers said that stock is at the highest level for many years.
Tuesday, 31 March 2009
Tuesday, 24 March 2009
10 tips for Cheap Motor Trade Insurance
1. Shop Around
Motor Trade Insurance is a very competitive industry, this works in your favour so make sure you shop around in the market. Apply online for motor trade quotes from different insurers, when comparing quotes look at the level of cover being offered on your Motor Trade Policy.
2. Compare the Motor Trade market online
If you haven't got time to compare all of the different sites, visit a site that will compare motor trade insurance quotes for you. iQuote Motor Trade Insurance, will check the best rates in the market to save you time and money!
3. Motor Trade specialists
For cheap Motor Trade Insurance and the best possible cover for your business, it pays to visit a specialist insurer. By choosing an insurer with specialist knowledge you get the right motor trade cover at the right price.
4. Additional Cover
For Motor Traders having the right insurance cover can save you thousands of pounds over time. A Motor Trade Policy that includes indemnity insurance or cover for your motor trade premises, could be the difference between your business surviving or failing if the worst happens.
5. No Claims Bonus
Even if your bonus has not been earned on a Motor Trade Insurance policy, you could still use it to save money on your current traders policy. Many insurers including iQuote Insurance will mirror your no claims bonus from a private car policy to a Motor Traders policy.
6. Apply online as a new customer
There is every possibility that if you apply with your current insurer as a new customer, that they will provide you with a cheaper quote. If you don't receive a discount for applying online, the only cost to you - is the time spent completing the online form.
7. Voluntary Excess
You might want to look at voluntary excess. This is the amount you pay before the insurance company picks up the rest. This can be small but if you opt for a higher voluntary excess this would seriously lower the cost of a traders insurance policy.
8. Vehicles Cover
Never assume that high performance vehicles or Motor Bikes will automatically be included on a Motor Trade Insurance policy. Always check with the insurer first, this could avoid a costly assumption if you are not covered on the vehicle.
9. Make one single payment for your Motor Trade Policy
It is very convenient to pay for a Motor Trade policy in monthly installments, however this will cost more in the long run. If you can afford to do so, always pay for your Motor Trade Insurance in one payment when you take out the policy.
The more information you provide your Motor Trade Insurance Broker, the better tailored the policy can be to your needs. If you hide details to get a lower rate, it will invalidate your insurance cover and may cost vast sums of money if cover is not valid at the point of claim.
Thursday, 19 March 2009
RMIF call on Government to action vehicle scrapping scheme
The Retail Motor Industry Federation has again called on the Government to implement a scheme which gives an incentive for owners to scrap vehicles over 9 years old. This has a dual benefit, both environmental and economic - typically newer vehicles produce less emissions, so a scheme designed to take older cars off the road will have a beneficial impact for the environment. The scheme would also bring renewed impetus to the ailing Motor Trade
The potential scheme has been welcomed by Motor Traders who are struggling in the uncertain economic climate. iQuote Insurance have also extended a hand to struggling Motor Traders to beat the credit crunch. Until the end of March there is a 10% discount on any Motor Trade Insurance Policy.
When a similar vehicle scrapping scheme was introduced in Germany the government offered €2,500 to motorists to scrap older vehicles. This has kick started the car sales market, with a 300,000 unit increase expected in 2009 as a direct result of the scheme. Before the move in Germany sales were predicted to fall by 10%, so a 300,000 increase would be a significant achievement.
Within the last week there have been discussions both within Government and in the House of Lords. iQuote Insurance are keen to extend our support to the growing swell of voices in support of this scheme. This scheme can deliver benefits to the environment and to the Motor Trade industry and should become legislation as soon as possible. Any delay will have an impact on the long term prospects of the industry as a whole.
The potential scheme has been welcomed by Motor Traders who are struggling in the uncertain economic climate. iQuote Insurance have also extended a hand to struggling Motor Traders to beat the credit crunch. Until the end of March there is a 10% discount on any Motor Trade Insurance Policy.
When a similar vehicle scrapping scheme was introduced in Germany the government offered €2,500 to motorists to scrap older vehicles. This has kick started the car sales market, with a 300,000 unit increase expected in 2009 as a direct result of the scheme. Before the move in Germany sales were predicted to fall by 10%, so a 300,000 increase would be a significant achievement.
Within the last week there have been discussions both within Government and in the House of Lords. iQuote Insurance are keen to extend our support to the growing swell of voices in support of this scheme. This scheme can deliver benefits to the environment and to the Motor Trade industry and should become legislation as soon as possible. Any delay will have an impact on the long term prospects of the industry as a whole.
Sunday, 15 March 2009
Credit Crunch savings for UK motorists
Due to the fall in sales, nearly every car company is offering huge discounts across the range for new vehicles. Traditionally March is the biggest month for sales, with the first registration change of the year, however this year sales are expected to be over 30% down on last year.
Conservative estimates from the motor trade report £750 million pounds of savings on new cars in the UK. If anyone has the available cash to buy a new car, now is the time to purchase a vehicle. Market conditions are forcing dealers to offer unbelievable discounts on new vehicles to make way for 09’ stock. To help hard pressed dealers iQuote Insurance are offering up to 50% off motor trade insurance, which is much needed assistance in the current economic climate.
Currently some car dealers are offering £10,000 or more off the list price of new vehicles to clear existing stock. The biggest volume cars in the market are Vauxhalls which is unsurprising as on certain models of the Insignia and Tigra you can get a £5K discount.
The key to getting the right deal from your car dealer is to haggle over the price, options list and other free extras. For those with cash to splash it’s a buyers market, so push for sat nav, air con and an extended warrantee. Also make sure you get a price online before you visit the showroom, if you know the car you want - and what you should be paying, the dealer will want to offer you the deal to clinch that sale.
So remember if you have the money, now is the time to buy a new car with a huge discount and the extras you want thrown in!
Conservative estimates from the motor trade report £750 million pounds of savings on new cars in the UK. If anyone has the available cash to buy a new car, now is the time to purchase a vehicle. Market conditions are forcing dealers to offer unbelievable discounts on new vehicles to make way for 09’ stock. To help hard pressed dealers iQuote Insurance are offering up to 50% off motor trade insurance, which is much needed assistance in the current economic climate.
Currently some car dealers are offering £10,000 or more off the list price of new vehicles to clear existing stock. The biggest volume cars in the market are Vauxhalls which is unsurprising as on certain models of the Insignia and Tigra you can get a £5K discount.
The key to getting the right deal from your car dealer is to haggle over the price, options list and other free extras. For those with cash to splash it’s a buyers market, so push for sat nav, air con and an extended warrantee. Also make sure you get a price online before you visit the showroom, if you know the car you want - and what you should be paying, the dealer will want to offer you the deal to clinch that sale.
So remember if you have the money, now is the time to buy a new car with a huge discount and the extras you want thrown in!
Wednesday, 11 March 2009
Car Dealers losing out on servicing income
In the tough economic climate within the Motor Trade industry the revenue that can be generated through vehicle servicing is a larger proportion of overall income. Within a climate of falling sales this income is of increasing importance.
Only about 30% of owners return their vehicle to the dealer where the purchased was made for servicing. Most owners choose their local garage or a franchised dealer for their make of vehicle to carry out servicing and repairs.
For motor traders and dealer to tap into this sector of the market, they must deliver on good workmanship and value for money. However as long as these key factors are delivered within the service - there is the potential to increase earnings from servicing and repair work to help weather the current credit crunch.
For cost conscious car dealers of any size a motor trade insurance policy with iQuote will help to reduce your overheads. Motor trade policies can be provided for road risk insurance or combined cover and you will receive a traders policy tailored to your needs.
Only about 30% of owners return their vehicle to the dealer where the purchased was made for servicing. Most owners choose their local garage or a franchised dealer for their make of vehicle to carry out servicing and repairs.
For motor traders and dealer to tap into this sector of the market, they must deliver on good workmanship and value for money. However as long as these key factors are delivered within the service - there is the potential to increase earnings from servicing and repair work to help weather the current credit crunch.
For cost conscious car dealers of any size a motor trade insurance policy with iQuote will help to reduce your overheads. Motor trade policies can be provided for road risk insurance or combined cover and you will receive a traders policy tailored to your needs.
Thursday, 5 March 2009
Used car values are on the up
Good news for the hard pressed Motor Trader, used car prices are on the rise. Used car dealers are reporting strong used car prices, due to an increase in demand. This demand is a direct result of the weak demand for new cars. Dealers are reporting an increase of £500 for 3 year old vehicles so far this year.
To make sure you've got the right cover for your stock of vehicles, get an online Motor Trade Quote with iQuote Insurance and receive a low cost quote and an excellent value traders policy.
The CAP black book indicates that there is strong movement in used vehicle prices. Industry insiders said that for used vehicles the footfall in to dealer showrooms and sales were at their strongest for 2 years. However in a cautionary note - the economic downturn will continue in 2009 and dealers should make the best of strong sales whilst the opportunity lasts.
Areas of the market that performed very strongly, were 4x4's and the small executive car sector. Both these areas saw an increase of over 5%; very much against the current economic trend.
To make sure you've got the right cover for your stock of vehicles, get an online Motor Trade Quote with iQuote Insurance and receive a low cost quote and an excellent value traders policy.
The CAP black book indicates that there is strong movement in used vehicle prices. Industry insiders said that for used vehicles the footfall in to dealer showrooms and sales were at their strongest for 2 years. However in a cautionary note - the economic downturn will continue in 2009 and dealers should make the best of strong sales whilst the opportunity lasts.
Areas of the market that performed very strongly, were 4x4's and the small executive car sector. Both these areas saw an increase of over 5%; very much against the current economic trend.
Monday, 2 March 2009
Motor Trade to take back your old banger
In the European Parliment a new law is expected to be passed that will force the Motor Trade to take back cars at the end of their life. This is being heralded as the returnable car, which will force manufacturers to make vehicles from more recyclable materials.
There is a dramatic need to recycle within the Motor Trade, as 10% of all hazardous waste in Europe is generated from motor vehicles. Ultimately the issue is whether the industry can afford to achieve this ambitious recycling program in the time required. To help cut costs now within the industry get a motor trade insurance quote from iQuote Insurance. This is a measure that could save money today.
Vehicle makers are resiting the ‘End of Life Vehicle Directive’ strenuously, due to increased costs - which makers claim in the current climate will force them into bankruptcy. The aim of this new legislation is to ensure that more materials are recycled from the 8million vehicles that end their useful life in the EU each year. The UK is responsible for 25% of these vehicles.
The one thing that all parties including the manufacturers agree is that more of the materials in vehicles must be recycled. However the industry is in favour of an 10 year aim to recover 95% of the materials in the vehicles which are scrapped. Whereas the directive would force car makers to take back their product.
There is a dramatic need to recycle within the Motor Trade, as 10% of all hazardous waste in Europe is generated from motor vehicles. Ultimately the issue is whether the industry can afford to achieve this ambitious recycling program in the time required. To help cut costs now within the industry get a motor trade insurance quote from iQuote Insurance. This is a measure that could save money today.
Vehicle makers are resiting the ‘End of Life Vehicle Directive’ strenuously, due to increased costs - which makers claim in the current climate will force them into bankruptcy. The aim of this new legislation is to ensure that more materials are recycled from the 8million vehicles that end their useful life in the EU each year. The UK is responsible for 25% of these vehicles.
The one thing that all parties including the manufacturers agree is that more of the materials in vehicles must be recycled. However the industry is in favour of an 10 year aim to recover 95% of the materials in the vehicles which are scrapped. Whereas the directive would force car makers to take back their product.
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