The average value of a used car has rocketed in just two years according to Auto Trader, the UK’s largest automotive marketplace. When compared to pre-pandemic June 2019, a used car has seen a typical increase in value of a whopping £4,100. That’s the findings from Auto Trader’s monthly Retail Price Index, which is based on daily pricing analysis of circa … [Read more...]
Newslines 23 August
Octopus Energy Group and National Grid ESO have announced the first successful integration of vehicle-to-grid technology, using a test environment of the Balancing Mechanism, the primary tool used by National Grid ESO to balance Great Britain’s electricity system in real-time. This is the first time that vehicle-to-grid technology has been demonstrated in … [Read more...]
Inflation puts brakes on ev models
Rising inflation and cost of living will put the brakes on car sales, particularly electric models, says Close Brothers Motor Finance. It will also slow down the UK Government’s drive towards greener policies for other products and services, according to Lisa Watson, Director of Sales at Close Brothers. The cost-of-living crisis is having a … [Read more...]
Newslines 15 August
Salon Privé Blenheim Palace at the end of this month will host the UK debut of the all-new, all-electric DEUS Automobiles Vayanne hypercar following its display during Monterey Car Week and Pebble Beach this month. Named as the most powerful pure electric hypercar in the world, the 2,200bhp DEUS Vayanne has been designed, developed, and tested in … [Read more...]
InstaVolt raising public charging price
EV charging network InstaVolt has raising its price 15.7% to 66ppkWh from Monday. The rise from 57ppkWh applies to all payment types and the company says the steep rise is due to the enforced 20% VAT rate on public chargers compared to just 5% levied on domestic points. Other public point providers are expected to follow suit as the electric supply … [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 … [Read more...]
Reducing risk of plunging fleet values
The vast majority of fleets purchase vehicles outright and then dispose of the assets privately once they have no more uses vehicles, a study has revealed. According to RAM Tracking’s Vehicle Buying Survey 2022, just 41% of fleets said they defy fleet conventions and purchase vehicles outright. The second most popular method of funding vehicles is via a … [Read more...]
Premiums rising again after coasting
The average cost of insuring the ten most popular car models in the UK has increased by £100 year-on-year, according to comparethemarket.com. Drivers of one of the most popular cars typically paid £675 for their car insurance between March and May this year – up from £575 in the same three months in 2021. Driving has become increasingly unaffordable, as … [Read more...]
EV anxieties overblown and benefits overlooked – NFU
Research by electric vehicle insurer NFU Mutual suggests that concerns about electric vehicle range and charging are overblown when compared to the reality of owning an EV, and that non-EV owners are overlooking some key benefits of the technology. NFU Mutual, which offers insurance tailored to plug-in and hybrid EV owners, recently conducted a UK-wide … [Read more...]
New car sales slowing quicker than expected
The brakes have gone on hard for sales in Britain's car showrooms. UK new car registrations fell -24.3% in June, according to the latest figures released today by the Society of Motor Manufacturers and Traders with 140,958 new vehicles registered, the weakest June performance in 26 years. Volkswagen emerged top last month with 8.27% of share, Vauxhall … [Read more...]
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