Falling electric vehicle values are stabilising once they reach price parity with their internal combustion engine equivalents, March’s meeting of the Vehicle Remarketing Association was told. Andy Shields, global business unit director, of Indicata, presented data for a variety of EVs that showed this trend, following on from the dramatic price falls seen in 2023. “This effect appears to have … [Read more...]
Breaking the EV myth of franchise dealers
The idea that franchise dealers are required more for electric vehicle service, maintenance and repair than their internal combustion engine counterparts is a “myth”, shows new research from epyx. Statistics taken from its 1link Service Network platform, used to manage SMR for more than four million company vehicles largely operated by leasing companies, show hardly any difference in the … [Read more...]
Energy costs crippling UK automotive sector
British automotive manufacturers are calling for urgent action on spiralling costs as new analysis from the Society of Motor Manufacturers and Traders reveals firms face a £90 million uplift in energy bills this year – equivalent to more than 2,500 automotive jobs – as costs surge by 50%. UK electricity prices are the most expensive of any European automotive manufacturing country and 59% higher … [Read more...]
British Motorsport Day Westminster presentation
Motorsport UK and the All-Party Parliamentary Group for Motorsport yesterday presented Our Eclectic Future at British Motorsport Day in the Palace of Westminster to showcase the vision of a world powered by a range of use-appropriate systems and fuels. Fossil-fuels will continue to power existing vehicles around the world for quite some time, and therefore solutions are needed to shift to … [Read more...]
Five ways to save fuel and electricity costs
A five point plan to control spending on petrol and diesel has been issued by FleetCheck as prices reach record levels in the wake of the Ukraine invasion. Peter Golding, managing director at the fleet software company, said that fleets should adopt some form of strategy because it appeared the conflict was unlikely to resolve quickly. “The terrible situation in Ukraine is something that is … [Read more...]
Motorists reconsidering ev options for new cars
The latest survey of 300 UK motorists by Venson Automotive Solutions revealed that the anticipated 54% rise in electricity and gas bills next month is impacting car buyers’ decisions on switching to electric vehicles. Although electrified vehicles accounted for more than a third of all new cars leaving dealerships in February, Venson’s survey showed that a third of motorists currently exploring … [Read more...]
EV cars are splitting society, claims used expert
Electric vehicles are a luxury that almost half of society can’t afford, according to claims from used car buying service, Choose My Car. The high cost of purchase, installing expensive charging points, and rising energy costs are just some of the reasons that lower-income drivers are being priced out of the EV market, said Founder of ChooseMyCar.com, Nick Zapolski (below). That’s … [Read more...]
Fleets fear petrol & diesel value collapse
Fears over the future residual values of internal combustion engine cars and vans are increasingly helping to drive fleet adoption of electric vehicles, FleetCheck is reporting. Andy Kirby, customer success director, said that worries were being expressed across its outright purchase user base that demand for used petrol and diesel vehicles might start to substantially fall in the second half of … [Read more...]
Welsh engineering company closes after 75 years
Allevard Springs will close its South Wales car components plant. About 60 jobs will go. The company moved to Tonypandy as part of the UK Government’s encouragement to boost jobs in South Wales following WW2 and it started production in 1947 for Land Rover. Work expanded and it was a significant supplier to car and light commercial vehicles over the next 70 years but the contraction in vehicle … [Read more...]
Fuel shortage green light for ev sales boom
After one on-line retailer reported a 60% jump in ev-searches over the weekend, analysts believe the fuel shortage will be the big catalyst to boosting the uptake of the greenest cars. Sean Kemple, Managing Director of Close Brothers Motor Finance, said, “The current fuel crisis may well be the catalyst for motorists to go green. "Vauxhall is bringing out eight new electric models, … [Read more...]