Britain’s financial watchdog has broadened the scope of motor finance complaints to encompass vehicle leasing arrangements, whilst extending the deadline for lenders to respond to claims until December 2025. This
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Italian luxury carmaker Lamborghini has announced a delay in launching its first all-electric model until 2029, citing the luxury automotive sector’s unreadiness for full electrification. The VW-owned manufacturer, celebrating its
In a significant blow to the UK banking sector, Barclays has announced plans to appeal after losing a crucial High Court case concerning car loan commissions. The ruling threatens to
British banks witnessed a significant share price surge after the Supreme Court granted permission to hear an appeal concerning car loan misselling claims, potentially worth billions of pounds in compensation.
The chief executive of Lloyds Bank has warned that a recent legal ruling concerning car financing agreements has created significant investment uncertainty within the consumer finance sector. Charlie Nunn expressed
Britain’s car finance industry faces unprecedented turmoil following a landmark Court of Appeal ruling that could trigger massive compensation payouts to consumers. The Financial Conduct Authority’s chief executive, Nikhil Rathi,
British lenders might face a staggering £30 billion compensation bill due to the mounting car finance mis-selling scandal, according to leading credit ratings agency Moody’s. The estimate represents the highest
Major car finance companies have suspended lending operations following a groundbreaking Appeal Court ruling, throwing Britain’s automotive sector into disarray. The judgement, which found lenders liable for undisclosed commissions, has
Leading financial institutions have engaged in urgent discussions with the UK Treasury amid growing concerns about potential upheaval in the consumer credit sector following a groundbreaking court ruling on car
Ineos, owned by Sir Jim Ratcliffe, has delayed the release of its Fusilier electric vehicle. The company blames a lackluster consumer demand as well as uncertainty over government policies. Ratcliffe
Volkswagen announced plans to invest $5bn (£3.9bn), or up to 9% of its total revenue, in Rivian’s US electric carmaker. This comes as manufacturers are rethinking their strategies due to
The EU and Beijing have concluded last-ditch negotiations over plans to increase tariffs on Chinese electric car imports amid concerns of an upcoming tit-fortat trade conflict. The European Commission and
Tesla warned that it would be forced to increase prices in European Union nations after Brussels announced new trade tariffs for electric cars imported by China. The US company warned
Hornby’s annual revenue is expected to increase by 2 million pounds sterling after it adds Corgi racing cars to its model train collection and Scalextric racing car. The Frasers Group,
