Nearly half of dealers (46%) think the values and prices of electric vehicles (EVs) will fall following the government’s move to push-back the electrification deadline to 2035, as consumers take more time to make the switch. November’s new Startline Used Car Tracker also shows that 44% believe a corresponding rise in petrol and diesel prices and values will occur as customers stick with petrol … [Read more...]
Finance News
Cost of getting on the road has fallen
A new report from Go.Compare Car Insurance has revealed that the cost of getting on the road in 2023, including the cost of a first car, has fallen to £5,947.40 from £6,574 in 2022. The comparison site has researched these costs as it celebrates its own 17th birthday – an age where many of us would be looking at taking to the roads. This is the first time in four years that the report has … [Read more...]
Thieves target old Defenders for parts
The Land Rover Defender is a major target for thieves who can break them up within hours of getting their hands on them, say insurers. The UK’s leading rural insurer is urging farmers and other Land Rover Defender owners to take action to safeguard their iconic vehicles against clued-up thieves. NFU Mutual is urging Defender owners to adopt a combination of traditional and technological security … [Read more...]
Gamechanger in ev charging coming down the line
The owners of Asda have bought the Tesla charger network and are preparing for a rapid extension for all plug-in hybrid and battery cars. As the UK is likely to reach a million BEVs next February according to Cap HPI, the Asda move is very significant. Asda owner, the EG Group run by brothers Mohsin and Zuber Issa, said in a statement that the Tesla Superchargers will be branded evpoint and … [Read more...]
ECA criticises Government over mixed messages in King’s Speech
Leading electrotechnical and engineering services body ECA said the King’s speech had little to offer the sector, despite it being a driving force in the transition to Net Zero carbon. The association, which represents over 60,000 professionals, welcomed the prospect of accelerated investment in renewables and grid connections. However, it sees additional oil and gas licensing as an unnecessary … [Read more...]
Tradelines 8 November
Almost a quarter of fleets (23%) say they expect to lengthen their company car lease contracts because of growth in home working, according to new research. The 2023 Arval Mobility Observatory Barometer found that the move towards contract extensions is more pronounced among larger companies with more than 1,000 employees (38%) compared to the smallest with fewer than 10 (24%). Fleets and … [Read more...]
Aging fleets create service boost for independents
Fleet use of independent garages is around a quarter higher for company cars and vans aged four years old compared to their one year old counterparts, shows research. New data from epyx shows that buying of service, maintenance and repair (SMR) shifts from 30% independent garage and 70% franchise dealer at 1-2 years old to 35%/65% at 2-3 years old, 40%/60% at 3-4 years old and 38%/62% at four … [Read more...]
Governments must support car makers supply chain
European automotive suppliers are making their supply chains more sustainable, but they face the challenge of financing these efforts from existing operations and industry sentiment is not very optimistic. Policymakers should take the necessary steps to provide support, but industry will also need to work harder to stay ahead. CLEPA’s research on sustainability reports reveals that suppliers … [Read more...]
EVs gaining ground for some journeys but not all
Petrol and diesel vans are likely to be used by fleets for rural journeys and motorways but business car users are most likely to rely on evs for any trip. Few businesses are considering the type of journeys being taken, for example – rural, urban and motorway – when electrifying their company car fleets, according to new research. The 2023 Arval Mobility Observatory Barometer shows that among … [Read more...]
Fleet discounts driving slight rise in new car registrations
October’s new car market grew by 14.3% to reach 153,529 registrations, 7.2% above pre-pandemic levels and marking the best performance for the month since 2018, according to the Society of Motor Manufacturers and Traders. The 15th month of consecutive growth was driven almost entirely by large fleet registrations, which grew 28.8% to reach 87,479 units. Private demand was stable at 62,915 … [Read more...]