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Car Finance: ING withdrawal sees Bridford & DSG merge

The withdrawal of ING from the UK car finance market has led to the merger of Bridford Financial Solutions and DSG Financial Services. The resilience of the UK’s luxury car market is, to a great degree, driven by the availability of decent finance deals to secure a sale, and much of that business was underwritten by ING. But ING has withdrawn from the UK car finance market.

Toyota proposing $1.1 billion unintended acceleration settlement in US

Toyota are setting aside an additional $1.1 billion to settle claims in the US of unintended acceleration in their cars. In the ongoing saga of unintended acceleration in the US caused by floor mats, Toyota has revealed it is to set aside an additional $1.1 billion to settle claims and fit new equipment to cars affected by the floor mat problem. Toyota are going to install a brake override system in 3.25 million vehicles, set aside $250 million to compensate owners who have already sold their cars, another $250 million for affected owners whose cars can’t get the brake override system, throw in a care plan  for parts related to unintended acceleration and throw $30 million at research in to car safety.

Autonomous emergency braking mandatory in Europe by 2014

Autonomous emergency braking (AEB) is set to become mandatory as a result of new European regulations. From 2014 Euro NCAP – the organization responsible for conducting independent assessment of vehicle safety performance – will amend its reports and no car will gain a five-star rating without AEB. It's hoped an increased use of the system will cut down on front-end impacts as well as pedestrian injuries.