Motorists Welcome Proposal To Amend Warranty Policy
"); jQuery("#212 h3").html("

"); });
2022-08-02 HKT 12:35
The Hong Kong Automobile Association has welcomed a proposal by seven car distributors to change their warranty policies in order to give vehicle owners more freedom in choosing where to get repairs and maintenance.
Under the plan, car owners will no longer risk having their warranties revoked for going to non-authorised repair centres for services or repairs.
The distributors of 17 car brands made the suggestion following a probe by the Competition Commission, which is now consulting the public on the matter.
Speaking on an RTHK radio programme on Tuesday, the association's chair, Ringo Lee, said the easing of restrictions would be good news for both motorists and smaller garages.
He said it would give car owners more flexibility and cheaper options, as repair services offered by independent garages are usually around 30 or 50 percent cheaper for Japanese and European cars respectively.
Meanwhile, transport sector lawmaker Frankie Yick said he believes authorised repair centres may charge car owners less in future in order to remain competitive.
But the Liberal Party legislator warned car prices may go up as distributors try to make up for the reduced profit from repair services.
EDENA Unveils AI System To Automate Sovereign Asset Settlement
At the DAT Summit Hong Kong, EDENA Capital Partners launched the Autonomic Financial OS. The company describes it as an... Read more
Naver Exposes 15,000 Knowledge IN Users Activity, Moves To Improve Privacy Controls
Naver has announced measures following an incident in which around 15,000 users’ activity histories on Knowledge iN w... Read more
Japans PayPay Files For US IPO, Targets Valuation Above US$10B
SoftBank‘s digital payments unit, PayPay, has filed publicly for a US IPO. The listing could be the largest by a Japa... Read more
Inference Research Launches In Hong Kong With US$20M Seed Funding
Inference Research, an AI-native quantitative trading firm based in Hong Kong, has announced its launch and the expecte... Read more
London-Based Unlimit Appoints Michele Fung To Lead APAC Expansion
London-based fintech company Unlimit, which provides a broad range of financial technology services, has appointed Mich... Read more
SoFi Launches Digital Asset Trading In Hong Kong Through OSL Partnership
SoFi Securities (Hong Kong) (SoFi Hong Kong) and OSL Group have announced a partnership to offer digital asset trading ... Read more