Used Car News from Moorland Cars


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September van sales figures bring good news

11 October 2012

With a total of 39,060, registrations for light commercial vehicles up to 3.5t rose 1.1 per cent in September compared to the same month in 2011, according to the official figures supplied by the Society of Motor Manufacturers & Traders (SMMT). The year-to-date figure, however, still looks less than positive. At 187,067 it’s down 6.3 per cent on the same period last year.

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Toyota recalls Auris, Yaris, RAV4 and Corolla

11 October 2012

Toyota has registered a recall of vehicles produced between 2006 and 2008 because of a possible fault with the electric windows master switch.

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Honda’s UK factory gets two new models .....

11 October 2012

but loses one

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Government must overhaul road funding programme

11 October 2012

A new CBI report argues that the UK needs a gear change in investment, performance and efficiency if it is to develop a road network fit for the 21st century.
 
With public finances constrained, the Government must show bold thinking in how to secure new sources of funding to help support economic growth in the long-term, the head of the CBI said on Monday.  Launching Bold Thinking: A model to fund our future roads, John Cridland, the CBI’s director-general, made a call to action from the Government to overcome the funding gaps in our creaking road network.
 
The UK economy is already losing up to £8 billion each year from congestion on the roads, which could potentially rise to £22 billion by 2025.  The CBI is calling for the introduction of a Regulatory Asset Base (RAB) model to secure the private investment necessary to overcome the current funding gaps in the UK’s road network.  A £10bn shortfall in funding for Highways Agency projects and the prospect of declining motoring tax revenue due to ever-increasing efficiencies in new vehicles makes the current model unsustainable.
 
A regulated model for the road network would address the problem of long-term funding and one year cycles by taking the road network out of the Government’s budget.   Users would have a proportion of their motoring taxes converted to a user charge – controlled by the regulator – to access the strategic road network.  This charge would provide a funding stream for private operators – licenced by the regulator – who would operate regional sections of the network.  But in the long term the charge alone might not be sufficient to leverage the levels of future investment needed to finance bigger capacity projects.
 
Private operators would have to finance such projects through long-term borrowing, which could require additional revenue streams, such as tolling, above a standard charge.   The regulator would continue to cap charges and manage the overall cost burden on drivers.  To achieve this, the Government should examine the most suitable elements of existing RAB models in the UK, which have a track record in attracting private capital, regulating performance and controlling prices.  Similar models have successfully been applied in other sectors and could open up major private sector investment over the long-term – the water industry alone has generated £98bn of private investment since the1980s, with capped charges on customers.

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VED tax shake-up could impact BIK

11 October 2012

An influential ‘think tank’ is proposing replacing vehicle excise duty (VED) with a one-off charge on new cars based on CO2 emissions, which would be included in benefit-in-kind (BIK) calculations for company cars.
 
CentreForum says the Government would set an annual emissions "pivot point" equal to the emissions of the best performing 1% of cars the previous year. Cars with emissions below the 1% level would receive a subsidy. Cars above this level would attract an emissions charge at the time of purchase.  For example, if the pivot point was 94g/km of CO2, cars with emissions above 94g/km would pay a first registration charge of between £35 to £50 per gram above 94g and cars with CO2 emissions lower than 94g would therefore receive a subsidy of £50 per gram below that level.
 
CentreForum says that this one-off charge would then be included in what is the current P11D price to calculate BIK liability.

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