Following our consistent lobbying efforts with HM Treasury, the Department for Business, Energy & Industrial Strategy (BEIS), and the Prime Minister, it was positive to see that the Government released further details about its Job Retention Scheme, in line with our initial interpretation. NFDA had previously urged the Chancellor to provide further details on the scheme and we outlined how critical it was to include commissions and bonuses in the scheme. Following the latest announcement on Saturday, we took immediate legal advice to clarify a number of elements, in particular, surrounding the issue of ‘compulsory commissions’. Please find more details in the news.
NFDA continues to issue a daily bulletin on COVID-19 to support members during these challenging times. This includes guidance documents, template letters to use with customers and employees and timely updates. If you are an NFDA member and currently not receiving the bulletin, please email email@example.com.
This week, new passenger car registration figures showed a decline in the market of -44.4%. Since dealerships were closed for a week or longer in the second half of March the decrease was not a surprise. We called on the Government to continue to support the automotive sector during these challenging times. The light commercial vehicle market fell, down by -54.3%. Please find more details below.
The FCA has released its consultation on annual fees. Last week, NFDA called on FCA to waive its fees or at least implement a one-year deferral for motor retailers. We will respond to the consultation and continue to liaise with the FCA on the issues affecting dealers. Additionally, an announcement on payment holidays, which will benefit consumers, is expected next week.
The Government’s Office for Low Emission Vehicles (OLEV) has provided clarification on the definition of “price” in the electric vehicle grants portal since only cars priced below £50k will benefit from the grant going forward. Please find more information in the news.
NFDA is the voice of automotive retailers and your trade body. If you require any assistance or would like any further details on one of the issues discussed in the news, please contact our member helpline on 01788 538303.
Sue Robinson, NFDA Director