Vauxhall has announced that it is to discontinue its 100,000 mile lifetime warranty programme, and will be returning to a three-year, 60,000 mile offering in January. Tim Tozer, the chairman and managing director, has cited the changing ownership landscape and increased investment in new technology as key reasons for the change. Mr Tozer said: "In today's market, 65% of retail sales are supported by a finance package and within that, over 60% are PCPs. This has dramatically changed ownership patterns resulting in fewer customers retaining their cars beyond three years. "Couple this with a ó4 billion investment in high technology powertrains and state of the art new products and it no longer makes business sense to invest in 100,000-mile warranty cover. "We will continue to focus our investment on providing our customers with a high quality and satisfying experience, both at dealer and company level, throughout their purchase and ownership period." Existing Vauxhall vehicles that have the lifetime warranty will still be covered up to 100,000 miles whilst the vehicle remains with the initial owner, though this will be subject to annual validation. The new three-year/60,000 mile transferable warranty is fully competitive with bench-marked competition according to the manufacturer, and will include AA roadside assistance, Homestart and full European cover within the first year.æ Cost effective extension options will be available up to four and five years.