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The average value of used LCVs at auction increased 0.6% (£27) to £4.599 between April and May, latest figures from the National Association of Motor Auctions (NAMA) show.
Volumes saw a 4.1% decrease, and the average age of LCVs sold at auction fell from 70.6 to 69.3 months.
The average number of days that LCVs remained on site declined to 14.9 days, and the average mileage decreased from 82,175 to 81,761 miles.
At 9,567 units, despite 406 fewer LCVs being sold at auction in May when compared to the previous month, against the same month in 2014 volumes stood 14% higher.
With an uplift of 5.4%, it was only the two- to four-year age band that delivered any growth although this followed the big fall posted by this sector in April.
Paul Hill, chairman of NAMA, said: “Following some patchy performances earlier in 2015, May proved to be a good month for those wholesaling light commercial vehicles.
“Falls in average age, mileage and volume each helped deliver a modest, though welcome increase in average price.
“Perhaps the most encouraging statistic to be seen in this NAMA LCV Report was that at 77.5% (+5.3%) the percentage of LCV lots selling at the first time of being offered was the highest recorded in six months.
“As we move through the remainder of 2015, it is likely that relatively small swings in the balance between supply and demand will be felt more sharply.
“Where volumes fall short of the maximum that the trade can absorb, we can expect to see stable market conditions with prices holding firm.
“However, for any sector and/or age band where even just a few too many LCVs are being de-fleeted, price slippage should be anticipated.”
MORE THAN half the places for this year’s Bangers4Ben have already been snapped up.
This year we have increased the number of places from 40 to 50 – and 27 cars have already been registered.
We’re going F1 this year, with the opportunity to drive on Gand Prix tracks past and present at Silverstone, the Reims-Gueux circuit, the Nurburgring and Spa Francorchamps.
The list of companies supporting the event is:
Danes Autos Ltd
Your Best Car Ltd
Paintseal Europe Ltd
bangers4ben2014 1Prestige Diesels
Derek Fiske Organisation
G Forces (Perfect Placement)
Time Tees Cars
Winkleigh Car Sales
Some companies will be sending more than one team – Manheim, for example, are great supporters of the event and have registered three cars!
The event gets under way on Saturday, October 10 at Silverstone.
A study into the car-buying habits of 1,500 motorists* carried out by the RAC also found 40% of people said they have had a problem with a vehicle bought from a used car dealer and almost a third (29%) said the dealer did not do at all well in putting the problem right.
And, one in three (30%) car owners say they have actively told people not to use a particular car dealer.
Despite the negative experience of some highlighted in the survey conducted for the launch of RAC BuySure, 56% of motorists say they would buy a used-car rather than a brand new vehicle because new cars depreciate more quickly.
In addition, a further 44% think they feel they get better quality and a higher spec of vehicle if they buy from a used car dealer.
RAC BuySure spokesman Mario Dolcezza said: “The used car dealer is still the first place many people look when they are in the market for a car and our survey suggests 65% of motorists go to a dealer in their area because they think they provide the best value. But this is not always the case as some dealers are clearly not living up to the expectations of their customers.
“Our research findings show that dealers need to be very conscious of the importance of having a good reputation and making sure they always deal well with any issues their customers might experience after buying a car from them otherwise motorists will go elsewhere.”
The Sunday Times reported that Evans and his wife Natasha set up Zimple Cars selling high performance classic cars three years ago. “It has been so successful that more than £6 million worth of vehicles were sold in a single year – almost twice what Evans brought in from his broadcasting and media work”, the paper said.
Zimple’s published accounts reveal 2013 profit before tax of £2.26m on turnover of £7.5m and the following year £2.43m on £9.7m turnover. Its profit margin went from 30.07% to 24.21%, and gearing from 272.56 to 211.66. It is, however, listed as a “provider of media services”.
City Auction Group has reported strong performance at its recent auction, with the firm selling 300 vehicles, at a value of a claimed £2.75 million.
The auction results led the market in the first two weeks of June, said City Auction Group, with 80% of vehicles achieving an average CAP clean value of 98%. It reported strong demand for 12 and 13 plates, small to mid-range vehicles with an average of 30,000 miles.
The top five best performing vehicles were the BMW 316d ES, achieving the highest CAP clean value (118.1%), followed by the Ford Focus 1.6 TDCi (112.8%), BMW 320d SE (109.8%), Jaguar XF 3.0 DS Portfolio (109.7%) and the Peugeot RCZ 1.6 THP (108.3%).
There was also strong demand for hatchbacks, which made up more than half of the vehicles achieving the best price in the top 20 CAP clean list.
Overall, BMW dominated the top 20 vehicles, with the BMW Series variants appearing five times and achieving an average CAP value of 109.3%, said the remakreting firm.
Michael Tomalin, managing director of City Auction Group, said: “Feedback from our vendors indicates we achieved the best CAP clean values in the market for the first two weeks of June. Our vendors are committing more corporate vehicles to us than ever before with the introduction of further vendors joining the sale programme very soon.
“We are planning to introduce weekly auctions from October 2015, as there is clearly demand in the market to support this.”
The FTA (Freight Transport Association) have denied claims that HGVs bring “bedlam” to villages. The claims were made by the LGA (Local Government Association), who have called for local councils to have more powers to tackle HGV drivers who breach weight and width restrictions.
But the FTA said most drivers do adhere to the regulations and that many HGV journeys through villages are necessary to supply goods to village shops, pubs and other local businesses, or to deliver groceries and heavy furniture items to homes.
Christopher Snelling, FTA’s Head of Urban Logistics said: “FTA fully supports enforcement of weight and width restrictions and actively helps its members to adhere to these with regular updates on regulations and industry innovations. Transferring responsibility for policing these restrictions to local residents would be fraught with problems because most would not have the relevant knowledge to make judgements.
“Weight limits are not HGV bans and residents may not understand different sizes of trucks. Also, most weight restrictions are on an ‘except for access’ basis – some HGVs may be making legitimate visits to local business or indeed residents, such as home removals or washing machine deliveries.”
The LGA has issued a press release calling on the Government to enable councils to take enforcement action because “villages and rural communities across the country have been blighted by a recent spate of lorry smashes”.
The Department for Transport figures show that deaths and serious injuries involving lorries have halved in the last 10 years and the four examples in the past 10 years quoted by LGA don’t illustrate that the problem of lorries in villages constitutes a spate or are getting worse, the FTA said.
Snelling added: “The logistics industry is working hard to reduce the problem of HGVs using inappropriate routes, such as HGV-specific sat navs that are now on the market. Most operators do follow the rules, and the handful that don’t should be detected and dealt with.”
FTA also noted that in the most recent year for which we have figures, HGVs were involved in less than a third of motorway deaths, as opposed to more than half as quoted by the LGA.
Fix Auto UK has announced that Forward Motors of Malvern has joined its network and will now operate as Fix Auto Malvern.
The 16,000 sq ft, Kitemark-accredited bodyshop is situated on Spring Lane North and is owned and managed by Andrew Ridley and his wife Pamela.
A team of 12 productives, assisted by two customer service personnel, ensure more than 120 vehicles a month are repaired by the bodyshop, which holds 11 vehicle manufacturer approvals including Volkswagen Group, Honda, Volvo, Mazda, Kia, Hyundai, Toyota and Lexus.
Andrew Ridley said: “The prospect of being part of a large network of bodyshops, each independently owned, really appeals to me.
“I firmly believe in learning from other businesses and, from what I can see, Fix Auto UK provides us with an opportunity to do just that.”
Ian Pugh, of Fix Auto UK, said: “Geographically, Fix Auto Malvern is another important development for our network as we enhance our capacity and coverage. Andrew runs an extremely efficient Bodyshop and I am sure he’ll bring a huge amount of value to the network.”
Fiat group dealer Motor Village has hosted its first-ever ‘Business Club’ networking event at its London showroom.
The Wigmore Street site was converted into a meeting and networking arena, with guests including heads of highly-respected companies and corporations from the London area.
Guests listened to invited speakers including Richard Gadeselli, chairman, Fiat Chrysler Automobiles Services UK, and Fabio Di Prima, managing director, Motor Village.
Last year, the showroom was used for a similar event hosted by Fulham Football Club, with which Motor Village has an Official Car Partner relationship.
“This is the first time we have held a Business Club event of our own,” saif Fabio Di Prima.
“I’m delighted how the evening went, giving us the opportunity to build relationships with our clients while telling them more about the range of cars we have here. It’s the first of many business events like this to come.”
A van driver in Yorkshire is the first to be fined court for middle lane hogging.
According to the Telegraph, the motorist was fined nearly £1000 and hit with five penalty points after refusing to move out of the middle lane of the M62 in Yorkshire.
Traffic police said six drivers had to brake and swerve to avoid the Citroen Berlingo driver. Leeds Magistrates’ Court heard that he had “numerous opportunities” to move into the inside lane but failed to do so.
The driver didn’t turn up to court and was fined £500 in his absence, and was ordered to pay £400 in costs with a £40 victim surcharge.
The Government introduced on the spot fines of £100 in 2013 in an effort to deter drivers from sitting in the middle lane when there is an opportunity to move across.
It is thought this is the first time a motorist has been convicted in court of a lane-hogging offence since the law was introduced.
“Lane hogging reduces the capacity of roads and motorways, and can lead to dangerous situations where other drivers tailgate the vehicle in front to try and get the lane hogger to move over,” said PC Nigel Fawcett-`Jones from the Road Policing Unit of West Yorkshire. “Members of the public regularly tell the Road Policing Unit that lane hogging and tailgating are real problems on our roads and this conviction shows that the police and the courts understand the public’s concerns and take this offence seriously.”
Applegreen plc has raised £66.9m through the flotation of the company.
At the end of the May the company announced that it intended to float the business to raise funds for expansion and upgrades to existing sites.
At the same time it renamed the company, using its Applegreen brand name, so Petrogas Global Limited became Applegreen plc.
The Irish company currently owns about 100 sites in the Irish Republic, and was ranked fifth in the Forecourt Trader Top 50 Indies with 54 UK sites. It also owns two sites in Long Island in the US. Last year the head of its UK arm, Michael O’Loughlin, was crowned Retailer Champion of the Year at the Forecourt Trader Awards.
Bob Etchingham, CEO of Applegreen, said: “Along with the rest of the management team I am delighted to announce the successful completion of our IPO and our first day of trading as a listed company. We are very pleased with our list of new institutional shareholders. Their support provides further endorsement of our strategy and our growth prospects.
“The funds raised will provide us with the platform to accelerate our growth across the markets in which we operate and further expand and rebrand our portfolio of sites.
“We look forward to embarking on the next step in the company’s journey as a public listed company and generating significant value for our new shareholders.
In its statement the company said the proceeds of the flotation would be used to fund:
• an upgrade and rebrand up to 70 sites across the group’s existing network of sites in Ireland and the UK;
• to accelerate expansion in Ireland and the UK – which currently stands at about 20 sites a year – both by number of sites and by geography;
• to develop new service area sites in Ireland and the UK; and
• to take advantage of other opportunities that may arise including building a platform for growth in the US and opportunistic acquisitions of portfolios of sites that may become available.
IAM reveals the true scale of drug driving in England and Wales since new drug-drive laws came into force
A Freedom of Information request has found that 902 drug-drive arrests have been made in England and Wales since the new laws were introduced.A Freedom of Information request has found that 902 drug-drive arrests have been made in England and Wales since the new laws were introduced.
The Institute of Advanced Motorists (IAM) has found that over 400 people a month have been arrested for drunk-driving following a Freedom of Information request to police forces in England and Wales.
The findings show that police arrested almost one person every three days on average for breaching new drug-drive laws.
The Metropolitan Police recorded the highest number of arrests, with 214 in just over two months which equates to three drivers every day since the law was changed.
Sarah Sillars, IAM chief executive officer, said: “It is very clear from our survey that the new drug driving law has just scratched the surface of a much bigger issue.
“We have reached a point where drink-driving has become socially unacceptable, particularly amongst younger people. The effects of driving under the influence of drugs can be devastating.”
The new laws introduced in England and Wales in March set low limits for eight drugs commonly associated with illegal use, such as cannabis and cocaine.
Eight prescription drugs were also included within the new law including diazepam, methadone and morphine.
Police are able to use a ‘drugalyser’ to screen for cannabis and cocaine at the roadside.
A new study from Gocompare.com Car Insurance has revealed Britain’s best and worst drivers. In an analysis of over six million car insurance quotes, the comparison site ranked occupations by the proportion of motorists with a driving conviction within the past five years.
Gocompare.com’s research uncovered that risk isn’t a risky business as Britain’s best drivers were actuary professionals. Actuary professionals, who manage risk and uncertainty, had a conviction rate of just 3.3%, almost a third of the national average of 9.8%
Top ten law abiding occupations:
1 Actuary (3.3%)
2 Packer (3.7%)
3= Nursery assistant (4.2%)
3= Dinner assistant (4.2%)
5 Picker (4.4%)
6 Warehouseman (4.6%)
7 Waitress (4.7%)
8 Nursery worker (4.8%)
9= Playgroup assistant (4.9%)
9= Driving instructor (4.9%)
Parents may be relieved to know that, statistically, those working in a school are less likely to have a driving conviction than the rest of the UK. Nursery assistants and workers, playgroup assistants, teachers and teaching assistants all had a lower conviction rate than the national average. Head teachers, however, scored higher than the average.
Other occupations with a conviction rate lower than the national average included; driving instructors (4.9%), bus drivers (8.2%), police officers (8.8%) and professional footballers (9.4%).
According to the research, oil rig workers are the most reckless behind the wheel, with more than one in five (22.8%) having at least one conviction – that’s more than double the national average.
Top ten occupations with the highest proportion of convictions:
1 Oil rig crew (22.9%)
2= Sales director (21.1%)
2= Operations director (21%)
2= Managing director (20.9%)
5 Asbestos remover (19.9%)
6 Company director (19.7%)
7 Refrigeration engineer (19.6%)
8 Area manager (19.4%)
9= Service engineer (19.3%)
9= Site agent (19.2%)
Those with the word ‘director’ in their job title were also more likely to break the law while on the road. Out of the top ten most rule-breaking motorists, four of them had the title ‘director’.
Other motorists with a higher conviction rate than the UK average included couriers (18%), chauffeurs (17.7%), barristers (15.9%), lorry drivers (13.8%), dentists (13%) and journalists (12.7%).
Matt Oliver, car insurance spokesperson at Gocompare.com commented, ‘Driving laws exist to help keep motorists, cyclists and pedestrians safe on the road. In addition to putting yourself and others at risk, racking up multiple driving convictions can have a serious impact on your ability to get insurance in the future and can increase insurance costs considerably.
‘In one example, we found having a conviction for speeding on a public road (SP30) could increase an average premium by up to £72, while having two of these could raise car insurance costs by as much as £118. This means that the total cost for getting two speeding convictions in a year could be as much as £238 when the two £60 fines and additional insurance costs are taken into consideration.’
Samsung is hoping to introduce a new technology that will save the lives of drivers who get impatient when stuck behind heavy goods vehicles (HGV’s) on a single-lane highway or road.
The Korean tech giant wants to roll out a line of ‘Safety Trucks’ after being inspired to reduce the high number of traffic accidents in Argentina that occur on single-lane roads in overtaking situations.
The Safety Truck consists of a wireless camera attached to the front of the truck, which is connected to a video wall made out of four exterior monitors located on the back of the truck. The monitors give drivers behind the truck a view of what is going on ahead, even in the dark of night.
The company said it confirmed the technology works and that lives can be saved.
‘The next step is to perform the corresponding tests in order to comply with the existing national protocols and obtain the necessary permits and approvals,’ according to the company.
‘For this, Samsung is working together with safe driving NGOs and the government.’
Steve Nash, chief executive of the Institute for the Motor Industry, is calling for government and education bodies to ensure that schools are giving the most impartial advice to young people.
This comes now that the mandatory education or training participation age is now raised to 18.
‘It is fantastic that young people now need to continue in some form of education or training until they are 18’, said Steve. ‘But, with pupil quotas vital for schools to secure funding in the face of continuing budget cuts, we have a serious concern that young people will not necessarily be given the most impartial advice. The Government has set a very bold target of three million new apprenticeship starts by 2020 – and backed this up with the latest announcement to put vocational routes on a par with academic qualifications. But the target could be pretty hard to achieve if the number of young people available to start apprenticeships is reduced.
‘Of course, 18 year olds can still go into apprenticeships once they have taken their A-levels, although funding to support vocational learning decreases at ages 19 plus, which is something that needs to be considered. But what concerns us most is what will happen to the 16 year olds who are right now taking their GCSE examinations. In the automotive retail sector alone we know that there are tremendous opportunities for 16 year olds to get into the workplace, whilst still continuing their education through apprenticeships. But are schools giving these young people clear, impartial advice about the options at the age of 16? Or are we going to see the numbers of those progressing to A-levels remain high because it makes sense for schools’ quotas for them to stay on rather than continue their education in an apprenticeship? The consequences for businesses looking to recruit apprentices could be quite severe.
‘As the economy continues to improve there is a clear need for new talent which the Government’s commitment to apprenticeships certainly reflects. But it’s vital, for this to succeed, that young people truly understand the options available to them.’
The IMI is currently undertaking research to understand how careers advice is being provided to young people, which will be released later in the Summer.