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 insurers need to collaborate to ensure the degree of risk surrounding electric vehicles (EVs) is better understood, says the Association of Fleet Professionals.
The industry body says that evidence from its members indicates that some insurers have recently been increasing premiums for EVs, based on what appears to be incorrect and, in some instances, irrelevant information and calculating costs solely on one make without considering the value of an undamaged traction battery.
Europe’s five biggest carmakers have raised the prices of their cheapest models by an average of 41% since 2019, new analysis of price data shows.
That’s almost double the cumulative rate of inflation during this period and far above levels of inflation or the cost of raw materials and other components, says Transport & Environment lobby group.
Tesla is reported to be considering building a new small car in Germany, reports GlobalData.
Its €25,000 model would be assembled in Berlin to get around incoming EU tariffs on EVs.
According to Go.Compare Car Insurance, 61% of UK police forces saw an increase in car thefts between 2019 and 2022.
The West Midlands and the North East of England have been particularly affected by the overall growth in car theft rates.
Half of UK consumers who have financed a vehicle purchase within the past 12 months are now concerned about the affordability of their monthly payments, according to a new nationwide survey commissioned by ALPHERA Financial Services.
The survey also indicates that unease about affordability is more widespread among younger car buyers, with 55% saying they were ‘somewhat concerned’, compared to just 16% of those aged 65 years and over and 43% said a car dealer did not urge them to consider how they would manage if inflation and expenses rose.
Chinese brand Omoda (above) intends to launch in Britain next March.
The Omoda5 is an SUV which is already being exported from China and so far has shipped 130,000 models and will come in two trim levels with an emphasis on technical equipment and connectivity.