Dear Colleague,

Government has this afternoon launched a consultation looking to reform the Consumer Credit Act. Earlier this year, NFDA welcomed this proposal as the current act released in 1974 is outdated and long overdue a reassessment. Modernising consumer credit laws will help make motor finance more accessible for consumers, help foster innovation and help to maintain high levels of consumer protection.

NFDA’s employment initiative Drive My Career released its second survey of the year this week, titled: Economic Crisis: how will this impact my career?. The survey explored how young people perceive the current economic climate, the fears it presents for their future career prospects and how Drive My Career can offer support by raising awareness of exciting career opportunities in the automotive sector.

Finally, the latest SMMT figures were also released this week and it is positive to see that registration figures have risen for the fourth consecutive month. The increase in 23.5% from this time last year highlights retailers continue resilience to deliver a high-quality service to their customers in the face of tight vehicle supply. Van figures fell -22.2% in November, whilst Electric LCVs continued their growth in the market with an upswing of 14.8%.

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