6:50 am, July 3, 2026
Payouts on UK watchdog’s car finance compensation scheme paused by tribunal
The UK’s financial watchdog has been forced to pause payouts on its £9.1 billion car finance redress scheme, meaning millions of motorists are facing further delays to compensation.
The Financial Conduct Authority (FCA) is facing legal challenges from four companies who are not happy with its plans to compensate people mis-sold a car loan.
Payouts were meant to start this year but are now facing significant delays. You can read more on the Car Dealer website.
AI tech boosts sales at Currys despite ‘subdued consumer backdrop’
Electronics retailer Currys has revealed stronger sales despite a ‘subdued consumer backdrop’, amid a boost from demand for AI technology.
Departing boss Alex Baldock said the group’s performance is continuing ‘to strengthen’, shrugging off wider concerns about pressure on shopper finances.
Currys told shareholders that adjusted pre-tax profits lifted by 18% to £191m for the year to May 2, compared with a year earlier.
Final Alpine A110 rolls off production line as brand gears up for electric successor
Alpine has completed its final A110 sports car as it readies to commence production of an electric replacement.
The lightweight A110 was the car that kickstarted the French brand’s rebirth in 2017, bringing a driver-focused experience and a design influenced heavily by the original A110 which went into production in 1969.
Produced in Dieppe, France, the A110 drew praise for its driving characteristics and since it first went into production, some 28,701 examples have been built. The final car to roll off the production line was a lightweight A110 R finished in ‘Bleu Alpine’ with a contrasting black roof.
The markets
European stocks soared on Thursday as weaker than expected US jobs figures dampened market worries of a near-term interest rate hike across the pond.
The FTSE 100 closed up 174.53 points, 1.7%, at 10,652.87. The FTSE 250 ended up 87.51 points, 0.4%, at 23,417.58, and the AIM All-Share rose 1.40 points, 0.2%, at 777.45.
In European equity markets on Thursday, the Cac 40 in Paris ended up 1.7%, while the Dax 40 was up 2.2% in Frankfurt.
Thursday on Car Dealer
Failed used car dealer Cazoo hit by fresh legal battle as creditor payouts put on hold
Cazoo creditors face further delays after a legal challenge paused planned payouts. Administrators say around £76m of unsecured claims remain unresolved, while former employees and HMRC have been paid in full. Administration costs have risen to £7.8m.
FCA suspends parts of motor finance redress scheme pending legal challenge
Compensation for mis-sold motor finance has been delayed after the FCA suspended key parts of its proposed redress scheme pending a legal challenge. While firms must continue preparing claims, compensation calculations and payments are on hold, with payouts now unlikely before 2027.
GVE London accountant denies defrauding supercar dealer but faces FOUR YEAR wait for trial
An accountant accused of defrauding failed supercar dealer GVE London out of more than £750,000 has pleaded not guilty to fraud, theft and money laundering charges. Her trial has been listed for October 2030, with the judge blaming the Crown Court backlog.
Strong first-half used car trends continue as prices realign and stock stabilises
Used car prices dipped 0.9% in June but remained 1.7% higher than a year ago, according to Cazoo. Older cars continued to outperform, helping independent dealers, while EV prices rose 2.1% month-on-month amid growing buyer demand and tightening supply.
Waylands expands Polestar partnership with new dealership in Newbury
Waylands is expanding its partnership with Polestar by opening a new dealership in Newbury. The site will offer the brand’s full EV range, approved used models and aftersales services, joining the group’s existing Polestar locations in Bicester and Bristol.
Pubs can stay open until 5am for England’s World Cup game against Mexico
Pubs across England and Wales will be able to stay open until 5am for the England v Mexico World Cup match that kicks off at 1am on Monday, Sir Keir Starmer has announced.
MPs had called for leeway beyond the 2am extended pub opening hours already in place for England matches during the Football World Cup.
England will face Mexico in the Round of 16 after beating the Democratic Republic of the Congo 2-1 on Wednesday but the next game in Mexico City begins at 1am BST and will not finish until after the previous extended hours provision.
Diesel sees biggest monthly price drop in June since 2000
Diesel has experienced its biggest monthly drop since the year 2000 as prices fell by 17p a litre in June.
Analysis by the RAC found that at the start of June, a litre of diesel averaged 183.75p but, by the end of the month, it had plummeted by 16.6p to 167.14p, exceeding the previous biggest drop by nearly 5p.
The average price of a litre of petrol has also fallen by close to 8p a litre in June, falling back from 159.37p to 151.40p. It now means that the cost to fill a typical 55-litre car with petrol is £83.27, down £4.40 a tank from the start of the month.
Weather outlook
Northern England will see sunny spells with scattered showers, while southern England enjoys brighter, largely dry conditions after early cloud clears.
Wales can expect a mix of sunshine and a few passing showers with light to moderate breezes.
Scotland remains cooler, with occasional rain and brisk winds, although brighter spells will develop later.
