How Will Brexit Affect Motor Traders?

On 23rd June, Britain chose to leave the EU in an historic vote, causing shockwaves throughout world markets. While Britain will remain part of the EU for at least another two years, there will undoubtedly be a period of instability—leaving the future of UK motor traders uncertain. In response, the Society of Motor Manufacturers and Traders stated that the UK government will need to safeguard automotive interests by ‘securing tariff-free access to European and other global markets [and] ensuring we can recruit talent from the EU.’ However, amidst the undetermined impact of Brexit, there are some outcomes relevant to motor traders that have already made themselves clear: (read more) "How Will Brexit Affect Motor Traders?"

Sharp Rise in Theft Claims for Motor Traders and Fleets

Insurers are noting a sharp rise in the severity of theft claims for motor traders. Although overall motor vehicle theft is trending downwards (there were about 80,000 thefts in 2015, which is down 31 per cent from five years ago), motor traders and fleet owners are experiencing a dramatic uptick in the number and severity of theft claims since the second half of 2015. According to insurer research, this recent spate of motor trade thefts involves these three types of crimes: (read more) "Sharp Rise in Theft Claims for Motor Traders and Fleets"