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With motor finance, buyers can embrace the shift to electric vehicles with an electric motorcycle and do their bit to improve the environment. It is also an ideal, cost-effective commuting option that opens up two-wheel travel to a new audience.

Julian Oliver, MotoNovo Finance’s National Motorcycle Manager, points to the cost of train commuting and the increase in hybrid working as an opportunity for the motorcycle industry to encourage new buyers to embrace the powered electric two-wheel proposition, noting;

“The cost and, sadly, the unpredictability of train commuting are joining with the emergence of hybrid and flexible working as a permanent feature of how we live and work. People are not travelling to work every day, making season tickets inappropriate and often expensive. Many others work in the night-time economy when public transport can often be limited. While a car can be a good option, there are of course higher costs to contend with for its purchase, insurance and usage. With an electric motorcycle, people can access the convenience and control of their own transport and do so very affordably.”

People may be concerned about range and charging issues, but in the example of a Seat MO, the range is 85 miles, and the battery pack can be removed easily and be fully charged in any 240V socket in just six hours. Some of the electric motorcycles we finance have ranges up to 270 miles.”

For non-traditional bikers, the switch to two wheels can be remarkably straightforward;

Low maintenance costs – not even an oil change is required

Easy to ride – with no gears, it is twist and go

Familiar – the braking is much like a bicycle

For many traditional bikers, electric motorcycles lack the total engagement of a conventional petrol machine. It is why as one of those traditionalists, Julian is so passionate that these new bikes can open up a new market, concluding;

“I love my traditional bike, but in testing an electric motorcycle, I was struck by the fact that I am not its market because much of my use is leisure based. However, if I was commuting into a city daily, the ease, flexibility, cost and independence of electricity make sense.”

Press release issued by MotoNovo Finance, May 2023

National Motorcycle Manager, Julian Oliver, explores how the motorcycle industry can encourage buyers to embrace electric motorcycles. 

Electric motorcycles can help the industry reach a new audience

As well as ensuring its technology, people, and processes are ready for the July 31st launch date for the Financial Conduct Authority’s (FCA) Consumer Duty, MotoNovo Finance has helped over two thousand dealers/brokers across the UK to prepare for the launch by completing Distributor Readiness Assessments (DRAs).

Commenting on the support, MotoNovo’s Commercial Director Debbie McKay reflects;

“The DRA forms part of our broader Distributor Support Programme, developed to help dealers and brokers to get ready for the launch of the Consumer Duty and then to keep raising the bar to meet the FCA’s expectations. This phase of the programme is designed to help dealers/brokers understand and embed the substantive requirements of the Duty as guided by the FCA. Principally it is about benchmarking their current readiness and signposting tools and resources to help them make the significant shift the regulator expects where necessary.”

MotoNovo’s DRA has been delivered by the business’ extensive field team, all of whom have completed extensive training that has included training by specialist motor, asset finance and leasing law firm Auxillias and a programme that sees all team members accredited as both *SAF, Expert and Advanced certified. The London Institute of Banking & Finance awards the latter qualification.

The focus of the DRA is on helping dealers/brokers understand the FCA’s Consumer Duty expectations and their current state of readiness, challenging them to address preparation questions posed by the regulator;

Does your purpose and culture align with your obligations under the Duty and support the delivery of good outcomes for customers?

Are you prioritising delivering good outcomes for customers in a changing external environment?

As well as addressing the crucial issues of culture, policies, procedures and customer outcomes covered by the DRA, dealers and brokers should consider the Duty's impact on their business' strategy and approach to remuneration, risk and incentive structures to ensure they drive good customer outcomes.

Debbie concludes, “The DRA has been well received by dealers and brokers. Where we have identified potential gaps, we have been able to signpost resources and tools to help dealers/brokers to develop their approach to F&I in terms of processes, controls and culture. We have also helped them to recognise that delivering the Consumer Duty is a journey. July 31st represents a starting point.”


*SAF (Specialist Automotive Finance) is the dedicated automotive finance professional qualification operated by the Finance & Leasing Association (FLA).

Ahead of the 31st July deadline, we've helped over 2,000 dealer/broker partners across the UK get Consumer Duty ready by completing Distributor Readiness Assessments. Find out more.

Consumer Duty: MotoNovo continues to ramp up its dealer support

There are under 90 days until the start of the Consumer Duty; it is a timeline that has seen the Financial Conduct Authority (FCA) urging all firms to ensure they are ready for the July 31st deadline.

In encouraging firms to ensure they make all efforts to be ready for the deadline, the FCA warned that firms who ignore the Duty or who pose the most harm can expect swift action, noting, “Our supervisory and enforcement approach will be proportionate to the harm – or risk of harm - to consumers.”

In a speech to mark the countdown on May 10th, the FCA’s Sheldon Mills, highlighted some areas of preparation that may help dealers and brokers to ensure they are on the right path by sharing some of the type of questions firms should already be asking themselves:

Is the Duty being considered in all relevant discussions such as strategy, remuneration and risk?

Have you made sure your remuneration and incentive structures drive good outcomes for customers?

If the answer is anything than a confident yes, then work is required.

The FCA highlighted Price and Value, one of the four key outcomes that firms need to assess under the Consumer Duty, as an area they have heard regularly is the area that firms are finding the hardest to understand.

To help, the FCA has undertaken a review with their  firms' fair value frameworks  and provided some additional clarity based upon their review as follows;

The price and value outcome is based on ensuring the price the customer pays for a product or service is reasonable compared to the overall benefits.

The findings of our review suggest that some firms may not be able to give us adequate evidence for why their products or services provide fair value.

Some firms didn’t seem to be properly considering outcomes for different groups of their consumers, relying instead on broad averages. This could hide where certain types of customers – such as those on low incomes or in vulnerable circumstances - are receiving poor value – perhaps because they are unable to benefit from important product features, or are more likely to pay charges, such as late payment fees.

Some firms didn’t seem to be challenging themselves enough on uncomfortable questions – such as, are high profit margins on a specific product a sign that those customers are not getting fair value? Of course, profit is not a bad thing, and it is possible to deliver both fair value and profit. We expect to see all firms taking an honest and critical approach to their fair value assessments.  

At MotoNovo, our team continues to work hand-in-hand with our dealers and brokers to support and signpost support and information. We hope this latest news is of further assistance.

The latest FCA article is available here.

Debbie McKay, Commercial Director of Motor Sales

With the Consumer Duty July deadline around the corner, the FCA highlights key areas to ensure dealers and brokers are on the right path. Find out more from Commercial Director of Motor Sales, Debbie McKay.

The countdown to Consumer Duty

Electric Vehicles (EVs) represent around a quarter of all new cars now sold. It means that around 500,000 new electric vehicles will hit UK roads in 2023, adding to a parc of EVs that are now swelling the used car market. So, should dealers be thinking about adding EV chargers to their forecourts?

There are plenty of reasons for considering such a step; to meet the need to charge EV stock, provide a service to customers, and demonstrate support for sustainability amongst them.

Another reason to think about it is the current availability of government grants. The Workplace Charging Scheme (WCS) run by the Office for Zero Emission Vehicles (OZEV) is available to organisations across England, Wales, Scotland and Northern Ireland; click here for the application form.

Grants of up to 75% of the costs associated with EV charge point purchase and installation, although it is capped at £350 per charge point. For those interested in more than one charger, the scheme is available for up to 40 charge point units across all sites that a business might have (the applications do not all have to happen simultaneously!)

You must be a registered business with less than 250 employees

have dedicated off-street parking with parking bays solely for the applicant organisation

have a minimum power supply of 3kW to each EV charge point

must own the property or have consent from the landlord for chargepoints to be installed at all the sites listed in the application.

Debbie McKay, Commercial Director of Motor Sales


With 500,000 new electric vehicles to hit the roads in 2023, should dealers be adding EV chargers to their forecourts? Take a look.

Is it time for dealers to fit EV chargers?

Since the start of April, the registered keepers of all cars have been impacted by new Vehicle Excise Duty (VED) changes, which see prices rise in line with RPI inflation.

The following summary includes VED prices based on a standard 12 month payment; other payment options may see higher prices.

Full information is available on the Government website, and a printable version of their guide is also available.

Tax bands for cars registered on or after April 1st 2017

New car buyers pay VED when the vehicle is first registered to cover a car’s first 12 months. After that, a different VED tax becomes payable each year. Please note that an exception to the information below is that there is a higher rate for diesel cars that do not meet the Real Driving Emissions 2 (RDE2) standard for nitrogen oxide emissions is payable.

Year 1 for new cars - the first year of VED is included in a car’s on-the-road (OTR) price based on carbon dioxide emissions. It ranges from £0 for zero-emission cars to £2,605 for models that emit 255g/km or more.

Subsequent VED rates - the standard annual flat rate of road tax for the 2023/2024 tax year is £180 (up from £165 in the 2022/2023 financial year). There’s a £10 annual discount for alternatively fuelled vehicles, including mild-hybrid, hybrid, plug-in hybrid, bioethanol or LPG, so their owners pay £170 a year.

For cars with a list price of £40,000 or more, an additional £390 tax is applied for five years from the second time the car is taxed – usually at the end of the first year. Electric cars don’t pay VED currently, even if the new list price is above £40,000.

Tax bands for cars registered between March 1st 2001 – March 31st 2017

Cars registered between March 1st 2001, and March 31st 2017, are taxed based on one of thirteen bands according to their CO2 emissions and fuel type. The lower the emissions, the lower the vehicle tax. Cars that produce 0-100 g/km of CO2 pay £0 in VED costs; however, anything above that level pays a rising VED rate based upon emissions up to an annual charge of £695 for a petrol/diesel car that emits anything above 255g/km.

Owners of alternatively fuelled vehicles, including mild-hybrid, hybrid, plug-in hybrid, bioethanol or LPG, benefit from an annual £10 discount on the banded rates.

Tax bands for cars registered before March 1st 2001

The system is straightforward; cars are divided into two categories based on engine size – not over 1549cc (£200 pa) and over 1549cc (£325 pa).

Historic vehicles built more than 40 years before January 1st of the current year

Mobility scooters, powered wheelchairs and invalid carriages

The figures above are for the 2023/2024 tax year, and these can be expected to rise with inflation.

Some significant changes will come into place from April 1st 2025;

EVs will lose their current VED exemption and will pay the standard annual rate (currently £180 pa) from the second year of registration onwards. The change will apply to existing EVs as well as brand-new ones. New EVs will also pay the VED supplement for cars with a list price of £40,000

Alternatively fuelled vehicles will lose the £10 annual discount they currently enjoy.

Zero- and low-emission vehicles registered between March 1st 2001, and March 30th 2017, currently in tax band A, will move to band B (currently £20 per year).


Chris Rowthorn, Director of Motor Sales Operations

Hear from Director of Sales Operations, Chris Rowthorn, on the new Vehicle Excise Duty. 

News - May 2023

Electric motorcycles can help the industry reach a new audience

Consumer Duty: MotoNovo continues to ramp up its dealer support

The countdown to Consumer Duty

Is it time for dealers to fit EV chargers?

Navigating changes to car VED rates

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