Positive annual sales for the UK Motor Trade

The annual figures for new car sales are up by nearly 5% on the vehicle sales for the first ten months of 2009. This is good news for Car Dealers, however figures for October were much lower than last year, as the scrappage scheme was still active in the latter months of last year. This makes the overall annual increase all the more impressive and provides much for motor traders to be positive about for 2011.

The total number of new car registrations in 2010 is expected to top 2 million in the UK. Industry analysts expect continued improvements in the Motor Trade market, driven by improving consumer confidence and modest economic growth to fuel higher sales for the coming year.

Currently the top five selling cars in the UK (for 2010) are:

1. Ford Fiesta
2. Volkswagen Golf
3. Vauxhall Astra
4. BMW 3 Series
5. Ford Focus

Looking for a better deal on your Car Dealer Insurance? Get a competitive Motor Trade Insurance Quote with ‘iQuote’.

Top tips for Traders with iQuote Insurance

When you purchase a Traders Insurance policy, we are committed to providing you with the most competitive deal on your Traders policy. Because you are covering your livelihood and vehicle stock, you shouldn't purchase insurance cover purely on price. You should also consider the level of cover required and whether you require additional benefits such as premises or indemnity cover.

We have listed some handy tips designed to save you money on Motor Trade insurance:

• Make sure that any additional drivers you add to your Traders policy are over 25 years of age. Any drivers younger on the policy will result in a significant increase of your insurance premium.
• If you haven't got any No Claims Bonus in the Motor Trade, ask your insurance broker if you can 'mirror' your No Claims from a private car policy. This means you could still get generous discounts even though your No Claims has not been earned in the Trade.
• If you have the available funds, pay for your insurance in one payment at the inception of the policy. Although most brokers can finance your policy, you will pay more for your insurance in interest charges.
• Many policies will not cover high performance vehicles, within your Motor Trader insurance. If you need cover for a Subaru Impreza, Mitsubishi EVO or other high performance vehicles, you must notify your insurance broker or insurer. Otherwise you may unwittingly end up without cover in the event of a claim.
• Consider the amount of additional cover you require, by limiting the amount of premises cover or increasing the voluntary excess you are willing to pay, you can make large savings on the cost of your Motor Trade policy.

To find out more about our Motor Traders Insurance and how much you can save - Get a Motor Trade Quote with iQuote Insurance.

Car Dealers report increasing demand to beat the VAT increase

Many car dealers are reporting an increase in forecourt demand during the past month, due to the impending VAT increase. In January 2011 the rate of VAT increases from 17.5% to 20% which will have a hefty impact on new car buyers. For example the increase in purchase price on a mid-range Ford Focus will be in excess of £500.

The more expensive the vehicle, the larger the increase in cost becomes if you wait until the new year to purchase your new car. This is driving demand for new cars, which is expected to continue to accelerate during the final two months of 2010. The VAT increase doesn't just effect consumers, but will also have far reaching effects on the Motor Trade, which has thus far been relatively resilient in the tough trading conditions since the start of the economic downturn. Whilst this rise in VAT brings in large sums for the Exchequer many Motor Traders have questioned the timing of the increase, just as many of the current spending cuts are beginning to bite.

If you are looking for cheaper Car Dealer Insurance, to help battle rising costs within your business, get a quote with iQuote insurance. We have access to the most competitive Motor Trade insurance schemes in the UK - saving you time and money.

Traders Insurance in times of austerity

In the past week the coalition government has announced a wide range of spending cuts, that will impact across all areas of society. Whether or not the spending cuts directly effect you and your Motor Trade business, there is likely to be a knock on effect to consumer confidence. With potentially hundreds of thousands less in work and with less disposable income to purchase used or new cars. This doesn't just effect vehicle sales, but also car valeters, mechanics and has wide ranging implications for all traders.

Therefore it has become even more important to purchase Motor Traders Insurance keenly. There are a number of factors to consider when purchasing a Motor Trade Policy, price is obviously a key consideration. However price should not be the only factor, you should consider if you do have to make a claim - will your policy provide adequate cover to fully cover the cost of your claim.

When purchasing your Traders Policy, you should review whether you will require Demo Cover, Indemnity and Premises cover on your policy and the level of cover required for each item. When you get a Motor Trade Insurance Quote with iQuote Insurance, you will speak to an expert advisor who will get you the best possible quotation for Traders Insurance - that cuts your costs, but not your cover!

To find out more about a Motor Trade Policy with iQuote Insurance call today: 0845 434 7819

IMI will introduce Electric Vehicle qualification and training for the Motor Trade

Electric Vehicle (EV) and hybrid vehicles are still far from ubiquitous, however they are becoming increasingly popular within the UK. This means that as cars of this type begin to enter the used car market, it is important for consumers to be able to have these vehicles serviced by a local garage or even mobile mechanics.

Earlier this year the IMI (Institute of the Motor Industry) announced an industry wide training, accreditation and qualification scheme to cover EV's. This scheme is now ready for introduction in January 2011, it is hoped this scheme will provide a much higher level of competency across the Motor Trade when dealing with this exciting technology.

There will also be increased choice for the consumer and by not being tied to a specific manufacturers dealer network for servicing and repairs, there is likely to be a benefit in terms of both convenience and cost.

Need cheaper Motor Traders Insurance? Get a quote for your Traders Policy and save up to 40% off!

Internet Marketing is becoming critical to Motor Traders

Much of the Motor Trade has been slow to harness the power of the internet, as a tool to drive new business, however this is rapidly changing. As consumer patterns are changing, prospective customers are increasingly likely to book vehicle servicing, repairs and purchase vehicles online. For those Motor Traders that have not already harnessed the power of promoting their business online, it is becoming increasingly important to drive visitors to their website - or be left behind by competitors.

In many other industries, but particularly insurance this transition is a familiar story. The insurance industry has been revolutionised by changing consumer patterns. If we look at the example of Motor Trade insurance, companies that haven't been able to gain a strong online presence have ceased to exist.

Although the Motor Trade has been slower to adapt to an online market place, a solid strategy for online marketing for Car Dealers, Mechanics and Valeters is becoming ever more important. The first place that a customer will research for your services are online. The actual purchase may happen on the phone, or face-to-face but the majority of customers will complete their research on the net. So whatever type of Motor Trade activity you are involved in, you should review your website and how prominently it appears within Google for your products and services.

Looking for cheaper Traders Insurance? Call us today on: 0845 434 7819 to find out how much you could save.

Car Dealers offering independent scrappage schemes

The government scrappage scheme was widely acknowledged as a huge success within the Motor Trade industry, by the time the scheme had run it's course in March 2010 it had accounted for 400,000 vehicle sales. When vehicle sales had been predicted to plummet, the scheme provided a much need boost for Motor Traders.

Since the schemes expiration earlier this year, many manufacturers have since provided their own offers to recycle your old car for a newer model. Although not government backed, there are still many bargains to be had when shopping around within the range on offer from car dealers. Nissan, Kia and many others are offering schemes to recycle your old vehicle when you purchase a new car. This is helping to drive new car sales and put cleaner, greener vehicles on Britains roads.

Looking for a better deal on your Traders Insurance? Find out how much you can save when you get your Motor Trade Insurance Quote with us.