Fleet remarketing - Page 3

The latest fleet industry news, including a new car and commercial vehicle leasing broker, RightLease, has launched this week.

BCA reports that average values reached the highest point since the same month last year, with results being driven by an improving mix of stock.

Independent, certified used electric car assessment, showing how well previous owners have looked after the battery of an EV, wanted by nine out of 10 motorists.

Cox Automotive has revised its used car forecast for the full year, cautioning against assuming growth seen in the first six months will continue.

Located off the A1, north of Peterborough, the new facility will offer secured and in-life managed storage prior to vehicle preparation.

Andy Picton, chief commercial vehicle editor at Glass’s, examines the performance of both new and used light commercial vehicle (LCV) markets during July.

Fleets face higher monthly rentals for electric vehicles as leasing companies try to recover from a collapse in residual values.

The decrease means that used EVs are now on par or cheaper than equivalent internal engine combustion cars.

However, there are concerns over supply with the composition of the car parc shifting faster than consumer preferences.

Used car market expected to perform well in the second-half of the year, with sales predicted to rise 5% to 7.6 million transactions, according to Auto Trader.

Government plans on used electric vehicle battery health checks discussed at July’s meeting of the Vehicle Remarketing Association.

Andy Picton, chief commercial vehicle editor at Glass’s, analyses the used and new light commercial vehicle market.

The first week of the month saw almost 700 EVs sold, with BCA on track to record sales in excess of 30,000 units over the next 12 months.

Sustained demand and continued de-fleet activity helped Cox Automotive achieve record figures.

Funded fleet continues to grow, driven by corporate schemes, but profitability impacted by weakness in used car prices, especially electric vehicles.

One-in-10 battery electric vehicles at 36 months experienced an increase in value in July, according to new analysis from Cap HPI.

Manufacturer-backed tactical registrations also played a key role in June, says Indicata, with the sale of used cars under 12 months old up 15.9%.

Eco Fleet Solutions, part of Ecomotive Logistics, has opened a new pre-delivery inspection centre in Rugby, Warwickshire.

The used car market for EVs in the UK is close to market failure as values continue to fall, the BVRLA has warned.

Business contract hire is up year-on-year, while personal contract hire demand has fallen, according to the latest Leasing Outlook report from the BVRLA.

The National Association of Motor Auctions has presented Ian Wilson of Wilsons Auctions its first ever Hall of Fame Award.

The site is already one of the largest combined remarketing, logistics, defleet and refurbishment centres in Europe.

Analysis of used car market from Autorola, the AA and Autotrader shows trends in residual values for ICE and electrified vehicles.

The latest industry snippets, including Autoglass expands footprint in response to advances in technology.

Problems with refurbishment are having a direct impact on the speed with which vehicles can be turned around, says VRA.

Average used values for pure electric vehicles at three years and 60,000 miles dropped by 1.7% on average – equivalent to £350 – in June, according to Cap HPI.

Healthy used car demand drove a very stable market in May, according to BCA.

One-in-three used car buyers have found previous owner’s data stored in the car’s infotainment system, new research suggests.

One-in-six fleets are already operating second hand vans, with two-in-five planning to start using them in the next three years, new research suggests.

Cars made during the pandemic, with unusual specifications due to supply chain disruption, are proving difficult to value, according to the VRA.

The cumulative decrease in used battery electric vehicle values amounts to approximately 57%, compared to petrol, with a decline of around 12%.

G3 Vehicle Auctions has acquired the Cazoo Wholesale business and will create a new G3 Bedford auction facility as part of its ongoing expansion.

Andy Picton, chief commercial vehicle editor at Glass’s, examines April’s new and used LCV market.

BCA is under pressure to treat its drivers as employees after 800 gig economy staff joined a legal battle against the remarketing company.

Julian Humphreys, co-founder and CEO of Motom, explains why real-time data is important as fleets navigate the roller-coaster BEV market.

Vehicle leasing giant Ayvens has launched Ayvens Carmarket, its newly rebranded used car remarketing platform.

Continued volatility in the new car market could stifle growing used car market, warns Cox Automotive.

Despite robust levels of consumer demand, used EVs were the only fuel type not to record price growth in April, according to the latest data from Auto Trader.

April saw average used car values at the three-year, 60,000-mile point, fall by 1.5%, equivalent to around £300, according to the latest analysis by Cap HPI.

Average used light commercial vehicle values at BCA rose by £115 to reach £8,855 in March.