The cost of car insurance for a 17-year-old motorist who has just passed their driving test has reached £3,075 on average, according to new research from Compare the Market. This is a substantial £1,071 increase, or 53%, in the typical cost of car insurance for a 17-year-old from last year's £2,004. The average cost of car insurance for a driver with a … [Read more...]
Finance News
Emissions are biggest upcoming challenge for fleets
Implementing zero emissions policies will be the number one issue facing fleets over the next three years, according to new research. Almost four out of 10 (39%) fleet decision makes named this as their biggest challenge, followed by adapting to low emissions zones (38%), adjusting to restrictive public policies on petrol and diesel (37%) and mitigating … [Read more...]
Businesses buying rise in UK car sales
The UK new car market marked its 22nd consecutive month of growth as registrations rose 1.7% in May, according to the latest figures from the Society of Motor Manufacturers and Traders. With 147,678 units reaching the road, it was the best May market performance since 2021, although it remains down some -19.6% on 2019. Fleets and businesses continued to … [Read more...]
Bigger tyre bills are rolling up costs
Fleets are paying out more money for fashion-led bigger wheels and tyres than a few years ago. The percentage of company cars being fitted with 18 inch-plus tyres has increased by a third in three years, new data released by epyx shows. In the first quarter of 2021, 42% of cars fitted with tyres through the business’s TyreServe service were 18 inches or … [Read more...]
BEVs are trickling along
Battery EVs continued their best ever start to the year, as sales in the first 5 months of 2024 rose 10% on the same time last year, whilst the market share of BEVs in new car sales reached 17.9%. Total car sales were up just under 2.2% in May 2024 on May 2023 levels, but pure petrol and diesel sales cratered over the same period, falling from 55% to 45% … [Read more...]
Crucial role of North West to UK Automotive
Bosses from some of the UK’s biggest advanced automotive manufacturers and suppliers today came together for the Society of Motor Manufacturers and Traders Regional Forum, held in Liverpool for the first time. Hosted at Rum Warehouse, the event will explore how manufacturers can benefit from the shift to zero emission mobility and secure new business to … [Read more...]
UK car making slips
UK car manufacturing output fell by -7.0% in April, down to 61,820 units, according to the Society of Motor Manufacturers and Traders. It was the second consecutive monthly decline, reflecting factory adjustments in preparation for next generation models and their electrified powertrains. Output for the UK – at 14,021 units – rose 19.8% but failed to … [Read more...]
Newslines 3 June
The King has taken a shine to Autoglym. The UK’s largest vehicle care brand, has been granted a Royal Warrant for the supply of car care products to the Royal Household and is the only car care product manufacturer among the 145 companies included in this important first round of Warrants. Following the unveiling of a series of prototype vehicle builds in … [Read more...]
EVs easier to sell closer to petrol priced models
More than half of dealers (53%) say that electric vehicles become much easier to sell when they are priced the same as petrol cars. May’s new Startline Used Car Tracker also shows that a third (32%) think that EVs have become generally easier to sell in 2024. Paul Burgess, CEO at Startline Motor Finance, said, “The large reductions in prices and values … [Read more...]
Fleets launch Tax and Regulation Manifesto
A revised Tax and Regulation Manifesto has been launched by the Association of Fleet Professionals ahead of the General Election on 4 July. The first edition of the document was created in 2021 and revised early last year. This latest version has grown to 24 points from the original 13, something that underlines the growing number of issues that fleets are … [Read more...]
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