Dear Colleagues,
This Monday saw the release of the summer 2022 edition NFDA’s Dealer Attitude Survey (DAS). This latest edition of the survey achieved an impressive response rate of 66% with a total of 2,561 responses from 32 different manufacturers. Lexus maintained their dominance in the survey by taking the top overall spot and Fiat came out as the lowest performing manufacturer. The results highlighted that despite the unprecedented challenges facing the automotive retail industry, the critical relationship between dealers and manufacturers remains strong. Franchised dealers responded positively to questions related to used cars, profit margins and day-to-day interactions with their respective manufacturer. Please find further details on the DAS in the news.
With final rules and guidance published on 27 July 2022, firms are now preparing to implement the FCA’s New Consumer Duty. As an NFDA member, if your business needs help in implementing the new changes specialist legal advisers, TLT LLP is dedicated to supporting you in navigating these new rules and guidance and have resources available for you to use. If you have any queries on this issue, please contact us.
On September 27, we will begin conducting the next round of NFDA Regional Meetings. The meetings will provide members with critical information on current issues facing the industry, including the future of Motor Retailing, the new FCA Consumer Duty and the Cost-of-Living crisis. Please contact Lena.Patel@rmif.co.uk for more information.
Following Buckingham Palace’s announcement of the death of Her Majesty Queen Elizabeth II, a period of National Mourning has started, that will continue until the end of the day of the State Funeral. Within this week’s newsletter, you can find the National Mourning Guidance.
NFDA Is the voice of automotive retailers – if you require any assistance, please do not hesitate to contact your member helpline at 01788 538303 or email nfda@rmif.co.uk
Sue Robinson, NFDA Chief Executive
