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Cap HPI says the market is set to hit 7.6m vehicles, beating last year’s figure of 7.2m.
The industry “shrugged off concerns” around Brexit with June – the referendum month – beating the same month last year, with over 632,000 vehicle sales, a rise of 0.5%.
A strong first half of the year saw used sales jump 5.9% in the second quarter of 2016 against the same period last year.
Philip Nothard, consumer and retail specialist at Cap HPI, said: “Strong demand has underpinned a stable market in 2016. Although we have seen larger volumes, values have tracked established seasonal trends.
“The trend looks set to make 2016 a marquee year, up 5.5% on a blockbuster 2015. While recent predictions from the SMMT set some doubt about the new car market in 2017, the used market has much to feel bullish about.”
Source: AM Online
The franchised dealer market has seen the highest level of acquisition activity for more than a decade in the last 12 months. Merger and acquisition activity is set to continue “at a pace” in the next 12 – 24 months, according to a report from property agent Knight Frank Automotive, ‘Automotive Capital Markets 2016/17’. Knight Frank says the trend will continue as profit margins for smaller groups are squeezed as manufacturers’ corporate identity demands lead to the need for regular capital investment in dealerships – or relocations and new builds.
“This trend has been – and will continue to be – a major appeal to investors who have benefitted from significant covenant windfalls and overnight enhancement in capital values, as smaller regional covenants are acquired by major corporate entities.”
Knight Frank forecasts the average dealership rents will grow 4-5% per annum for the next three years, compared to 2.53% across all property types.
Source: AM Online
Making telematics mandatory for young drivers could save hundreds of lives and the Government millions of pounds each year, says Wunelli.
The LexisNexis Risk Solutions company wants the Government to make young drivers exempt from the insurance premium tax (IPT) but to make telematics insurance policies mandatory for those in the 17-21 age bracket.
There were 1,732 road deaths last year and 14% of the drivers killed were aged between 17 and 24 years old. According to the latest Travel Trends survey, the average 17-20 year old drives 1,307 miles per year. With the average insurance premium around, £2,013, they are paying £1.54 per mile for insurance compared to a 40-49-year-old who does 5,720 miles a year and pays just over 12 pence a mile.
Paul Stacy, founding director for Wunelli, said: “Something as simple as installing a telematics device will promote safer driving and have a long-term impact on the amount of road traffic accidents that occur every single day.
BEN, the not-for-profit organisation that partners with the automotive industry to provide support for life to its people and their families, has today unveiled its new brand identity.
This includes a new look website, offering additional functionality to provide easier access to important support and care services. These changes help fulfil Ben’s vision to be an integral partner to the automotive industry, adding value by improving the health and wellbeing of the workforce, reducing absence, improving productivity and raising morale
‘We want to create a space that everyone in our industry can access at any time, with the confidence to gather information and chat to advisors online, allowing us to support each individual and help find solutions before issues become overwhelming.’
Source: Car Dealer Magazine
Nissan partners with Telogis for connected fleet vehicles
Nissan Europe has partnered with location software provider Telogis to provide connected vehicle technologies and services to European fleet customers. Named NissanConnect Fleet, the initiative will connect vehicles, providing information that Nissan claims will increase driver safety, and improve operational efficiency.
The programme will be rolled out across Europe this autumn, and will initially be available for a number of models, including cars such as the Qashqai, LEAF, and Juke, as well as commercial vehicles like the NV200 LCV, and NT400 Cabstar medium-duty vehicles.
Philippe Guerin-Boutaud, corporate vice president, global LCV business unit, at Nissan Motor Company said: “From empowering workers on the road and in the field to help them be safer and more efficient, to optimising daily delivery routes, NissanConnect Fleet will have a transformational effect on the way Nissan customers do business.”
Source: Motor Finance
A range of motorway driving guidelines have been released after an AA survey found that eight out of 10 drivers fear being hit if they break down on stretches of the motorway that use the hard shoulder as a driving lane.
In response, LeasePlan UK has put together five myths about motorway driving to improve driver confidence. Can any vehicle can drive in the right hand lane? Is there a national speed limit on the motorway? And also, can you stop on the hard shoulder if you are ill or need the toilet? Click on the title to read the full article.
Lesley Slater, operations and business development director, LeasePlan UK said, ‘Changes to the motorway will bring new rules and regulations for motorists to learn and abide by. It is important for drivers to take responsibility for their own safety by staying up to date with any new laws introduced.’
TomTom this week announced the introduction of an On-Street Parking service, a game-changer for drivers on the hunt for that hard to find parking spot. TomTom uses its vast supply of GPS data to determine where drivers are looking for parking places and at what times of the day.
The new On-Street Parking service represents another step for TomTom towards the future of driving, where the service could be used by autonomous vehicles to seamlessly find a parking spot and park themselves.
“TomTom On-Street Parking offers drivers peace of mind and a less stressful parking experience, in addition to helping them save time and money,” says Ralf-Peter Schäfer, Head of Traffic and Travel Information at TomTom. “The service also helps reduce congestion in cities and thus lower CO2 emissions, and enables cities to better understand and manage street parking inventory to improve urban mobility”.
Source: Automotive Industry Digest