Industry News

Industry News

.

City2Surf Fundraiser Run

5th August 2022

After a 2 year hiatus the City2Surf is returning to Sydney on August 14th, and this year DFS will be taking part.

Partnering up with the team at Money Me (raising funds for Canteen), YAP Advertising and our sister company, Dutton One, we are excited to be hitting the road (without a car for a change) to run the 14km to raise funds and awareness for the amazing work done by the Chris O’Brien Lifehouse & Canteen, not only in treatment and research, but in the support of patients, their families and their carers.

If you are running we look forward to seeing you there, and if you would like to support these great causes all donations are greatly appreciated, or even just sharing on social media to help raise awareness will help greatly.

To help us support this great initiative, you can donate here.

If you would like to help us share this fundraiser on Facebook, visit here. Thank you for your support!

.

Finding and Funding Your Vehicle in a Post-Covid World

5th August 2022

“…up to 10 per cent of in-dealer finance applications since the interest rate rise have been declined.”

As the automotive industry in Australia, and in fact the world, tries to find the post-covid norm, one thing that is cementing its place as one of the most important aspects of the car sales process is the funding of the vehicle. In days of yore, the car was sold, then the aftermarket team would be sent in to sell tint, paint protection and all manner of other add ons, and then finally as the customer is chomping at the bit to get out of the showroom, they are ushered in to the business manager to pay the deposit and for the BM to have a try for the finance business. But today, in 2022, after royal commissions, pandemics, years of record low interest rates which has seen consumers over extending to secure the lifestyles they want on credit rather than savings, the pendulum is swinging back the other way as interest rates rise. Funding has changed from being a formality of the sale, to a driving factor. This EOFY especially, at DFS we have seen more and more customers looking for pre-approvals before shopping, or seeking funding after being knocked back by the dealers’ in-house finance due to the tighter lending guidelines used by many point of sale lenders.

With more rate rises forecast over the coming weeks, months and years, we expect to see the number of dealer finance rejections increase and are working closely with our board of lenders to find positive outcomes for our customers that don’t over extend.

To find out more and stay current on what is happening in the market visit us on Facebook or Linkedin for updates as we receive them.

.

The Year of the EVolution

5th August 2022

Whilst many cities and states are still talking about how best to adopt electric vehicles and the impacts/needs of an EV world, the industry isn’t waiting for them. With over 40 EV models already announced and many due by the end of 2023, the next 18 months look to be the biggest so far for electric mobility.

In the launch calendar we have electric variants of current (excuse the pun) models like the Porsche Macan, new models such as the VW ID.4, new manufacturers entering the market such as BYD and VW’s Spanish love child Cupra, and even the first electric vans from Ford, Mercedes and Renault. And despite, as Kermit famously sang, ‘it’s not easy being green’, it is about to get a lot more luxurious with Rolls Royce set to join the party, and a lot more fun if the Lotus offering is up to what we expect from the brand and it’s racing pedigree.

For complete adoption of EVs we will need to see a stronger recharge infrastructure and clearer understanding of state and federal levies and taxes that will inevitably need to fill the gap left by the loss of fuel excise duty – WA for example will introduce a 2.5c per km tariff for electric vehicles for 2027 onwards.

One thing is for sure though, with 40 new models hitting the market, it won’t be a lack of choice that stops their adoption!

For a link to the full EV launch schedule visit our Facebook or Linkedin page.

.