A leading industry insider has warned that car companies may force the UK car market higher by pre-registering thousands of new cars to themselves, reducing the resale value of cars bought by legitimate customers.
Pre-registrations, theoretically outlawed by the government 10 years ago by a law with more holes than a sieve, are when car companies want to show they are selling lots of cars. They register the cars to themselves, their dealers or big fleet customers, only for the unwanted cars to re-appear on the market a few months later, with hugely discounted prices.
Despite the news that the UK recession has deepened even further than expected with industry hit badly, plans for a manufacturing institute are steaming ahead, with Ford backing the scheme.
New road restrictions in place to help the London 2012 Olympics to flow smoothly have caused widespread confusion for drivers on their first days in use. Having started on Wednesday at 6am, a £130 fine is enforceable for drivers and cyclists that drive in the Games lanes, which are part of the 109-mile Olympic Route Network, where restrictions apply from 6am until midnight.
Allegations that motorists are paying excessive premiums following accident insurance claims is gaining momentum, following investigations by an online insurer. Analysis from Swiftcover.com and disclosed to The Daily Telegraph showed that a small number of credit hire firms – companies which buy owners’ details from insurance brokers, bodyshops and damage assessors among others, and then offer not-at-fault motorists hire cars and repairs following an accident – are responsible for inflated costs of up to £200?million a year.
Around a third of cars on the road have a hidden history, making second-hand purchases a minefield according to research. Following news that there are 31.4 million cars on UK roads, vehicle information expert HPI said that up to 10.4 million vehicles could have an unwanted or unknown history.
