Category: motor
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High Court overturns ruling in landmark judgement, clearing way for thousands of motor finance claims
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BARNGS LAW, a Manchester -based pioneering company, won the Anti -Supreme Court of Appeal that can allow thousands of consumers to obtain justice in the Motor Finance Committee. The judgment, which was submitted today, allows more than 5,000 people with a claim to move forward as part of eight procedures…
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Lloyds CEO applauds Treasury move to tackle motor finance mis-selling
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Charlie Nan, CEO of Lloyds Banking Group, welcomed the government’s decision to interfere in the issue of poor sale of historical cars financing, and expressed his hope that this will help in achieving clarity in an industry that is subject to legal and regulatory pressure. His comments following the Ministry…
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Aviva agrees £3.7bn deal to acquire Direct Line, forming a UK motor insurance powerhouse
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Aviva has entered into a definitive agreement to acquire Direct Line for £3.7bn, creating one of Britain’s largest motor insurers. The FTSE 100 insurer will pay 275 pence per share for the FTSE 250 company, representing a 73.3 per cent premium to Direct Line’s share price before the talks emerged…
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What’s Going On With Ford Motor Stock Today? (CORRECTED)
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Editor’s Note: This story has been updated to correct the name of a Bernstein analyst who covers Ford. Ford Motor Company (NYSE:F) stock is Trading lower on Thursday. Bernstein analyst Daniel Roeska downgraded Ford Motor Company from outperform to market perform, With an expected price of $11. In an unrelated…
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Could motor finance become the next PPI scandal?
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The UK car finance industry could be heading towards a financial storm reminiscent of the Payment Protection Insurance (PPI) scandal. A recent appeals court ruling held car dealerships and lenders liable for not disclosing commissions to customers, a precedent that could unleash billions in damages claims. For decades, the PPI…
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Landmark Court of Appeal Ruling Promises £21bn Payout for Motor Finance Mis-Selling Victims
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In a groundbreaking victory for consumer rights, the Court of Appeals ruled in favor of the plaintiff in Johnson v. Firststrand Bank, setting a historic precedent in the auto finance industry. The ruling, upheld by Sentinel Legal and HD Law, holds lenders liable for the mis-selling of personal contract purchase…
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Motor Industry calls for VAT cut on electric cars and charging points to boost EV market
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The car industry is calling on the UK government to cut VAT on new electric cars and public charging points in a bid to counter the slowdown in the electric car market. The Society of Motor Manufacturers and Traders (SMMT) has written an open letter to the Chancellor, urging a…
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Waymo in talks with Hyundai Motor to produce self-driving taxis, media report says By Reuters
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SEOUL (Reuters) – Alphabet Inc’s Waymo is in talks with South Korea’s Hyundai Motor Co to outsource the manufacturing of its self-driving vehicles, South Korea’s Electronic Times reported. Waymo and Hyundai Motor officials have met more than three times to discuss a plan to use Hyundai’s Ioniq 5 electric vehicles…
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Number plate shortage hits motor vehicle industry
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The shortage of number plates has affected the automotive industry, negatively impacting sales and cash flow for dealers. Traders who spoke to this publication say the supply crisis has been going on for three weeks, while the National Transport and Safety Authority (NTSA) remains reticent to address the issues. Dealers…