Industry News: ACCC swings axe against dealer commission caps

Rod Sims

The Australian Competition and Consumer Commission (ACCC) wants to deny authorisation to 16 insurance companies to agree to a cap of 20% on commissions paid to car dealers who sell their add-on insurance products.

The ACCC considers that the proposed cap is unlikely to result in a public benefit.

The Australian Securities and Investments Commission (ASIC) report, ‘A market that is failing consumers: The sale of add-on insurance through car dealers’, found that consumers are being sold expensive products that often provide little to no benefit. Continue reading “ACCC swings axe against dealer commission caps” »

Rod Sims The Australian Competition and Consumer Commission (ACCC) ...

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Industry News: Toyota hits 10 million hybrid sales, target set at 15M by 2020

Toyota Motor Corporation (TMC) expects sales of its hybrid technology to increase 50% by 2020 as the carmaker has sold more than 10 million vehicles around the world.

Australians have bought almost 95,000 Toyota hybrids or close to 1% of the global total – 75,000 from the Toyota brand and almost 20,000 from the Lexus brand.

The local best-sellers are the Camry hybrid (42,000) and the Prius (20,000). Continue reading “Toyota hits 10 million hybrid sales, target set at 15M by 2020” »

Toyota Motor Corporation (TMC) expects sales of its hybrid technology ...

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Industry News: ‘Insurance and autonomous vehicles a win-win scenario’: IAG

The use of autonomous technology in cars could help the insurance industry save lives and money, according to an industry expert.

Autonomous emergency braking (AEB) alone could see a 25% reduction in injuries and potentially a 10%-15% drop in overall insurance costs, IAG head of research, Robert McDonald says.

“In Australia alone, the industry spends about $400 million on low speed breaking and reversing claims,” McDonald told Insurance Business. Continue reading “‘Insurance and autonomous vehicles a win-win scenario’: IAG” »

The use of autonomous technology in cars could help the insurance indu ...

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Industry News: BMW joins Melbourne’s most sustainable pop-up house

The all-electric BMW i3 is now being displayed alongside one of Australia’s most sustainable ‘tiny’ homes at Federation Square in Melbourne.

Once again, BMW has partnered with multi-award winning sustainable pop-up home group The New Joneses as part of the Sustainable Living Festival running until Saturday February 25.

The partnership comes weeks before BMW rolls out 40 electric and plug-in hybrid vehicle charging bays across the nation at major metropolitan Westfield centres. Continue reading “BMW joins Melbourne’s most sustainable pop-up house” »

The all-electric BMW i3 is now being displayed alongside one of Austra ...

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Industry News: New ASX entrant revs up 4WD, SUV parts sector

Automotive Solutions Group (ASG) has made a strong start to integrating the eight businesses that it acquired as part of its initial public offer.

The company – which raised $30.9 million in its initial public offering – started trading on the Australian Stock Exchange (ASX) from December 21, 2016.

The acquisitions allow the company to offer a range of accessories and services to four-wheel drive, SUV and touring enthusiasts in Australia.
Continue reading “New ASX entrant revs up 4WD, SUV parts sector” »

Automotive Solutions Group (ASG) has made a strong start to integratin ...

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Industry News: VW expands online presence in Denmark

Danish motorists can now buy a Volkswagen almost entirely from the carmaker’s website. However, Volkswagen’s online purchase service applies only to its up! minicar.

Customers can order that model through VW’s Danish website and pay with a credit card or Danske Bank’s smartphone payment app, MobilePay.

According to the German car manufacturer, the vehicle will be delivered to the buyer within 10 business days. Continue reading “VW expands online presence in Denmark” »

Danish motorists can now buy a Volkswagen almost entirely from the car ...

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Industry News: 30 to 40 brands will be EV only in a decade

Audi of America president Scott Keogh has made some bold statements in regards to the future of electric vehicles.

According to Keogh, Audi will embrace EVs and he fully expects the franchised Audi dealers to do the same.

“Do we want to jump in and compete (with EVs)? Without a doubt. We have the resources, the scale, the infrastructure, the customers and the dealers to compete in this new order.” Continue reading “30 to 40 brands will be EV only in a decade” »

Audi of America president Scott Keogh has made some bold statements in ...

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Industry News: New car affordability at best ever rates

The latest update by the CommSec Car Affordability Index shows that cars are at record affordability rates not seen since the 1970s.

CommSec estimates that a worker on the average wage needs to work 21.7 weeks in 2016 to purchase a new Holden Commodore Evoke 3.0L V6 6A Sedan – a record low and an improvement from 22.1 weeks in 2015.

Overall, car affordability has improved by almost 10 weeks from 31.5 weeks a decade ago, meaning that Australians are currently enjoying the best affordability estimate in data stretching back to the 1970s. Continue reading “New car affordability at best ever rates” »

The latest update by the CommSec Car Affordability Index shows that ca ...

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Industry News: CEVA Logistics opens $80M warehouse

CEVA Logistics has opened its transport, distribution and logistics hub on the rural-urban Melbourne fringe suburb of Truganina. CEVA says it is the biggest warehouse in the Southern Hemisphere.

The huge warehouse will service clients including GM Holden, Continental Tyres, NBN Co, Michelin, Caltex, Accent Group and Mazda.

The $80 million, 166,000 square metre supersite will employ 250 workers in Melbourne’s west and create around 40 new positions. Continue reading “CEVA Logistics opens $80M warehouse” »

CEVA Logistics has opened its transport, distribution and logistics hu ...

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Industry News: Australia and NZ sales up for Iveco

Iveco Trucks achieved a combined full year volume growth of over 25% in 2016.

The truck brand says 2016 was a great year thanks to a revitalised product range and growing professional dealer network.

Sales in Australia and New Zealand were up, with Iveco New Zealand recording its best sales performance on record – a 45% volume increase on 2015 full year results. Continue reading “Australia and NZ sales up for Iveco” »

Iveco Trucks achieved a combined full year volume growth of over 25% i ...

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