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Importance of value proposition & target market when launching a car subscription business

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At Tomorrow’s Journey, we have helped build many car subscription businesses, and a critical aspect of a successful launch is to define your target audience and proposition. With a clear understanding, it can be easier to attract and retain subscribers, and your product may be able to stand out in a growing competitive market.

Read our full article here -> https://www.tomorrowsjourney.co.uk/industry-insights/car-subscription-business-model-value-proposition

First, it is crucial to understand the needs and preferences of your target market. This includes the type of cars they prefer, the duration of their subscriptions, and any additional services or features they may want. Conducting market research and gathering feedback from potential customers is an effective way to identify their preferences. Surveys, testing different product features and pricing options, monitoring market trends and consulting industry experts can help you make informed decisions.

Next, offering a range of vehicles that aligns with your target market is essential. Focusing on a particular niche, such as EVs, small cars, or luxury vehicles, allows you to better meet your customers’ needs and differentiate your product from competitors.

Finally, providing flexible and customisable subscriptions is critical to a successful car subscription product. Customers have varying preferences regarding the duration of their subscriptions, and a good car subscription product should cater to these differences. Allowing customers to switch to a different type of car, change the duration of their subscription, or adjust their monthly mileage allowance while on an active subscription are ways to differentiate your product.

In conclusion, these three factors – understanding your target market, offering a range of vehicles that aligns with their preferences, and providing flexible and customisable subscriptions – are critical to building a successful car subscription business. Considering these elements in the early stages of developing your product can create a fast-growing and lasting value proposition.

If you’re thinking of launching a car subscription business get in touch here -> https://www.tomorrowsjourney.co.uk

Sustainable fleets: Shift your thinking

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By Stewart Signs

With global pledges to cut emissions in place, we all need to start looking at what we as an industry can do to achieve our goals. Electric and hybrid vehicles are a great start, but there are other factors to consider when looking for ways to improve the sustainability of your fleet.

Vinyl has given us a whole host of opportunities to create innovative and effective branding solutions. With environmental consciousness at an all-time high, maybe it’s worth considering an eco-friendlier option?

Non-PVC vinyl is a more environmentally friendly alternative, which is helping our industry take positive steps towards a more sustainable future. You still get the durability and versatility of traditional material, but with a greener approach.

What is non-PVC vinyl?

Developed by our partners 3M, Envision™ Print Film is a more environmentally friendly alternative to traditional PVC films. This non-PVC film is made in part with bio-based materials and uses 58% less solvent in the manufacturing process, making it the greener choice without sacrificing performance.

What makes Envision different?

3M Envision range films offer you a sustainability edge at an affordable price. Designed for use on vehicles, signage, walls, windows, floors and more, this film has unmatched versatility over other products on the market.

How can choosing non-PVC vinyl benefit you?

Not only is non-PVC film naturally versatile, extremely durable, and highly conformable, but it also aligns with sustainability initiatives. If your business is already taking steps towards a greener living, it’s worth considering how non-PVC film can help enhance your environmental plans.

Why Stewart Signs

At Stewart Signs, our journey in sustainability began 20 years ago. It’s a core principle within the company that determines our decisions. As a business, we’re actively looking for ways to improve our impact on the planet and ways to help our clients do the same.

We provide tailored solutions to local and national business needs throughout the UK. What’s stopping you from taking the next step and choosing non-PVC film? Let us help you and your business make greener choices for a greener future.

What is the logical development from electric cars?

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By WhichEV

February saw 52% of the vehicles sold in the UK, supplied with an electric motor. Combining pure battery electric with the various hybrid options, creates the conditions for a tipping point where the move to electricity for cars has well and truly arrived. But what are we likely to see in the near future?

What is the logical development from electric cars? Australian innovators, Alauda, believe they have the answer – flying vehicles.

The Adelaide based company is seeking production partners for an electric flying vehicle that can hit 225mph in just 30 seconds. They are hoping for a real-world range of 188 miles. Test flights are happening now and it will enter competition next year.

So how much will they cost? According to CEO Matt Pearson, once in full production they expect the street price to be no higher than buying a Tesla.

Will flying vehicles be the standard company car by 2040?  A personal vehicle that can do London to Manchester in less than an hour would certainly reduce the queue for tickets on HS2.

For all the latest EV news, head on over to WhichEV…

Having the right software package

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Having been used by many of Europe’s leading fleets and OEM networks over the last 10 years, Athoris from OEC has been developed to give fleet managers a wide choice of solutions, and subsequent pricing, to match their needs perfectly. It’s currently the software solution of choice of fleets from 50 vehicles through 500,000 vehicles or more.

‘Finding ways to cut vehicle downtime is the only way fleet and leasing companies can stay competitive’

As fleet operators and lease companies face pressure from all directions, a huge area for opportunity is the processing time of authorising the many jobs that keep a fleet on the road. Service, maintenance, repair, body, glass and MOT are all costly – both in time and money – for suppliers, fast fitters, fleets and lease companies.

Leading technology provider for the automotive industry, OEC, has found a way to do this with its innovative authorisation platform, Athoris – reducing vehicle downtime and saving millions in processing costs. This application transforms complex authorisations into a single click action, that is completed in seconds, reducing the number of manual administration processes required by technicians and leasing companies.

With access to original equipment (OE) approved data, pricing, labour and parts information, direct from the manufacturer, Athoris provides a line-by-line breakdown and automatic approval without the requirement for human interaction – reducing the number of processes and checks in the event of further approval or payment failure, and resulting in quicker integration of billings, invoicing and payments for fleet operators.

European OEMs have tried and tested Athoris, with one manufacturer saving over three million pounds per year, and eliminating an average of 80% of its authorisation time. Faster authorisation means faster completion of repairs, keeping fleets on the road as much as possible.

Also, by being a web-based service, Athoris is compatible with any third-party application. This, coupled with its e-invoicing and automatic approval for parts and accessories, with access to the OE databases, is a huge win for all companies working in the fleet sector. 

https://oeconnection.com/products/athoris/

Luxury, performance EVs for 2023

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By WhichEV

While most of the fleet will be chosen to be comfortable, reliable and affordable – there will always be those who manage to get a larger allowance and who want something that stands out from the crowd. Last week, Silverstone based Lunaz Designs revealed a 1961 Bentley S2 Continental that has been completely refurbished and had its original 6.2 litre V8 replaced with a 400 bhp modern electric motor that can accelerate this huge car past 60mph in 6.9 seconds.

With that in mind, we decided to take a look at the high-performing, luxury EVs that will be hitting the UK market in 2023.

In May 2023, MG will harken back to its golden days of producing some of the most iconic sports cars of the 1960s, with the launch of the MG Cyberster – a play on the word roadster. While the early drawings were pure fantasy, the final release model will play significant homage to its ancestors. The original parameters were for a true sports car, with a 0-60 figure under 3 seconds. The production model is likely to be a little slower, but will still keep pace with most Teslas. MG has done a lot in terms of improving its battery power, so we should expect this new sports car to have a sizeable battery embedded low down for stability – and with the capability of taking the MG Cyberster way past the 300 mile mark on a single charge. With pricing expected in the sub-£60,000 zone and production models to start coming off the line at the end of 2023, we’re all looking forward to seeing the 21st century update of the classic MG sports car.

Moving up a class from the MG, will be the Tesla Roadster. Musk is claiming a 0-60 of 1.9 seconds with a top speed over 250mph and a range over 600 miles – while still keeping the price close to £150,000. That may sound expensive, but when you realise that the Tesla Roadster is likely to keep pace with (or even beat) products like the Lotus Evija, Pininfarina Battista and Maserati Folgore – it is a bargain. The Lotus and Pininfarina are expected to be close to £2m each, with the Maserati around £50,000 more expensive than the Tesla.

Overall, the market for luxury/performance electric vehicles in 2023 promises to be exciting – with Ferrari and the old guard arriving in 2025. You will probably need a monthly car allowance of several thousand pounds for most of these – but the MG Cyberster could be less than £900 a month. While not cheap, it will certainly be a head turner.

Introducing… the EV Fleet-at-Home Charging solution from SMS

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By SMS plc

Energy infrastructure expert, SMS plc, is offering fleet managers across the UK a smarter way to manage their transition to an EV fleet.

SMS’s new Fleet-at-Home EV Fleet Charging Solution brings together EV charging infrastructure with premium support and fleet management services, enabling fleet managers to better manage their EV fleets and maintain the support of their driver community.

What we do to power your fleet and streamline your back office

  • Our fleet-at-home service installs and operates chargers that run off dedicated electricity meters separate from the home supply, allowing drivers’ bills to be invoiced directly to the business.
  • Our ClenergyEV app gives drivers visibility and access to 90% of the national network, so they can splash and dash at reliable charge points across the country for further range whenever required.
  • We significantly reduce the headache of administering fuel payments by setting up a single fixed monthly payment that you reconcile annually.

Putting the driver first

At SMS, we understand that drivers are the beating heart of the Fleet EV revolution. Our Fleet-at-home solution provides a frictionless transition for drivers, enabling a hassle-free, sustainable alternative to current ICE vehicles. With us, there’s no need for your drivers to have to pay and reclaim, removing the burden on the driver with bills being sent direct to the fleet team.

Future-proofing your fleet

Our aim at SMS is help fleet managers reduce the cost of charging their fleet, with one single monthly bill for all charging needs, whether at home, work, or in public. This gives our fleet management customers great control over costs and decision making, providing confidence and ability to deal with the challenges ahead.

SMS is an energy solutions expert with 28 years’ experience helping our customers navigate the complex world of electrical infrastructure and the rollout new of low-carbon technologies.

Our funded, turnkey EV fleet charging solution covers everything from install to ongoing operation, billing and maintenance, including our specialist EV Fleet Management software.

Visit www.sms-plc.com/evcharging for more information or contact our experts directly on 02920 054 151 / evcharging@sms-plc.com

THE WHICH EV VIEW: What does the BritishVolt collapse mean for the UK’s EV sector?

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Moving out of the EU was always going to create challenges for companies where the import/export of goods is key to their success. The collapse of BritishVolt has shone a spotlight on some of the more serious challenges, while also calling into question whether a more frugal approach to the initial development of the business, might have given it more time in which to achieve success.

With the possibility of a rescue package waiting in the wings, all may not yet be lost for this Northumberland-based project.

The ground was broken in July 2021 and a year later work the first part of the foundation was being laid, yet six months later everything seem to have collapsed. William Hague blamed Brexit fare and square, while others in his party had previously cited the British battery maker as an example of post-Brexit success in the economy. Shadow Business Secretary, Jonathan Reynolds, was reported as saying that rather than being seen as a shining example of levelling up, BritishVolt in fact highlighted a lack of strategic industrial planning to help boost jobs and economic growth in the north.

It had been hoped that the plats would be fully operational by 2027 and capable of producing 300,000 EV battery packs a year.

Based near Melbourne in Australia, Recharge Industries is likely to take over the project and to use its extensive experience in running successful production plants to help get BritishVolt up and running commercially.

Key to BritishVolt’s plans was a close relationship with Tees Valley Lithium (TVL) – Europe’s largest independent/sustainable lithium hydroxide producer. Everything is now in place for that to happen, which makes you wonder why the UK Government didn’t do more to keep the project 100% British.

In a recent discussion with the CEO of one of the world’s largest producers of electric vehicles, WhichEV was told that the European Governments need to invest heavily now – in order to create a vibrant, competitive production environment for local car makers in the future. Localised lithium production and battery construction was cited as ‘crucial’.

To read the full story, head over to WhichEV!

Futureproof your fleet and meet regulatory Net Zero deadlines!

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The UK Government’s ban on the sale of petrol and diesel cars has been brought forward to 2030, meaning the time to start your EV journey is now. Our expertise in delivering electrical infrastructure, our nationwide installation, operation and maintenance  capabilities, and our independent hardware-agnostic approach makes SMS the perfect partner for your EV charging requirements.

We offer independent EV charging solutions that put your business requirements in the driver’s seat.

  • Need a full installation and maintenance package- we’ll provide that.
  • Want the flexibility to change the hardware- we’ll work with you to choose the most suitable products that are interchangeable at your request.
  • Prefer direct billing, negating the need for employee expense claims- we can set up a dedicated charger and tariff for your EV charging to take place in a domestic setting Keeping drivers happy and vastly reducing admin costs!
  • Not forgetting our easy-to-use Fleet App, which gives your drivers access to every charger in the UK without needing to download individual payment app’s.

Place your trust in a company with proven heritage in infrastructure, energy efficiency and asset management so you can be sure we’ll always be here to help.

Visit our website for more information: www.sms-plc.com/evcharging

Email: evcharging@sms-plc.com

Tel: Mark Winn, +44 7376 490 650

What you need to know about automotive software

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The automotive industry is moving forward rapidly with the help of software applications and Artificial Intelligence (AI). Vehicle data has become a crucial asset for automotive companies, helping to accelerate their digital transformation. Going digital has become essential for the auto industry nowadays and requires reliable and trustworthy automotive software.

Here’s what you need to know about Automotive Software.

1. Autonomous Vehicles

Autonomous vehicles can operate without human intervention and work in the same way as traditional cars. These vehicles rely on Artificial Intelligence (AI) to sense their environment, allowing them to know what’s going around their surroundings. AI can recognise objects and identify whether they are a person, another vehicle, etc. They can also detect if these objects are moving or stationary. AI must predict what will happen next and pass this information to the decision software to decide the next course of action.

Autonomous vehicles rely on sensors, complex algorithms, actuators, machine learning systems, and processors to execute software. The software is responsible for processing the sensory input, establishing a path, and sending instructions to the actuator that controls the acceleration, steering, brakes, etc. Hard-coded rules, object recognition, and predictive modelling help software follows traffic rules and navigate any obstacle. Automotive companies need to recruit automotive software engineers to check the car and ensure the software works efficiently.

Developing an autonomous vehicle is a complex process. Whether retrofitting an existing vehicle or building one from scratch, there’s plenty of work involved. Automotive software engineers will not only need to program more than 200 million lines of code on the vehicle’s hardware, but they must also navigate through the tools and programs to develop, optimise, deploy, and manage the software of autonomous vehicles.

However, not all autonomous vehicles are the same. These vehicles rely on different tools to operate. Automotive software engineers use more than a hundred different tools to build and maintain these vehicles. Luckily, automotive software tools and platforms are constantly evolving, which helps to improve the accuracy of autonomous driving software.

2. Electrification

Vehicle electrification means powering the vehicle with electricity and replacing every component that uses conventional energy sources with those that use electricity. It focuses on the powertrain driven and its auxiliary systems, including on-board and off-board charging systems and wireless power transfer. Electrification also covers several other functionalities, such as the electronic stability program, electronic-powered steering, intelligent light system, electronic traction control, airbag deployment system, and many more. Electric vehicles rely on software to manage their battery systems and other key critical functions. Software is also crucial for protecting these vehicles against cyberattacks.

The main objective of vehicle electrification is to replace the gasoline drive with an electric powertrain. With an electric powertrain, a traction battery pack will use the energy stored in it to operate the motor with the help of the power electronics converter. When you step on the brake, electric energy gets moved back to the battery through the regenerative braking system. The converter’s control technique and topology will vary depending on the electric motor type.

Electric vehicles must be plugged into a charge point and take electricity from the grid to work. It then stores the electricity through the rechargeable batteries powering its electronic motor and is responsible for turning the wheels. Electric vehicles accelerate faster compared to those that operate with traditional fuel engines. Therefore, they are much lighter to drive. To charge the electric vehicle, plug it into a home charger or a public charging station. There are now several charging stations in various countries worldwide, so your car stays fully charged as you go out and about. When using home charging, ensure you have the right EV electricity tariff to save money on your electric bill.

The distance you can travel on a fully charged vehicle will depend on various factors, but the main factor is the vehicle type. Each EV has a different battery size, range, and efficiency. Choose the vehicle you can use for your everyday journeys without having to stop and recharge halfway through.

3. Connectivity (IOT)

Automotive IoT is a complex system of devices connected to the cloud, offering real-time data to optimise the process of manufacturing vehicles and develop a more efficient transport system. IoT solutions transform vehicles into “smart transportation” by leveraging AI-powered driving assistance, direct car-to-car interaction, predictive maintenance, and other advanced features to enhance road safety and improve driving efficiency. Most car manufacturers rely on IoT to automate production processes, minimise human errors, and improve quality control.

Connected cars have simplified things for both the manufacturers and the drivers, especially in terms of software upgrades. Vehicles are becoming increasingly more complex as time goes by. Before, the only way to keep cars updated is returning them to the dealer, which can be an inconvenience for the car owners and very costly for the manufacturers. Thanks to IoT connectivity, it’s now possible to update the software-reliant components of vehicles remotely.

Automotive IoT can also help improve vehicle performance. Electronic vehicle manufacturers have been regularly sending software fixes, such as suspension lifts and battery performance. Automotive IoT developments will cover more updates in the future, specifically related to feature enhancements.

Another benefit of IoT in the automotive industry is providing a clear picture of the manufacturing floor. Industrial IoT solutions can collect enormous amounts of data during vehicle production. Real-time processing and analysis of data collected can help manufacturers optimise the production process, introduce higher standards for safety, and minimise losses. The data that the IoT sensors collect can be analysed to predict failure car conditions, alerting users to take proper safety measures to avoid malfunctions and minimise car maintenance costs.

Thanks to IoT, car owners can now enjoy a range of vehicle entertainment systems, telematics, navigation solutions, driver assistance systems, and other features that can improve efficiency and comfort. In addition, IoT-enabled safety features like pedestrian and lane detection, object recognition, and automatic braking systems offer driving assistance to minimise human errors and make vehicles safe for everyone.

Guide to health and safety in the fleet industry

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Fleet companies have to stay updated on the legislation affecting how they run their business. They must be proactive in managing and improving the safety of their vehicles and staff. Compliance with regulations is essential to avoid fines and lawsuits and help the business operate more efficiently since their assets and employees will be safe and healthy. So, check out this guide to health and safety in the fleet industry.

1. Need for Risk Assessments

Risk assessment refers to the careful examination of certain aspects of the workplace that could cause harm. It helps fleet owners decide whether they have done enough to protect the vehicles and the drivers from potential danger.

Fleet drivers face different types of hazards every day. Some of these risks apply to drivers of commercial vehicles, while others apply to specific industries. Fleet companies must be able to assess a driver’s level of risk exposure and come up with a plan to ensure they have the proper resources and systems to minimise these risks.

Consider doing online training in health and safety regulation to know more about risk assessments. When conducting fleet risk assessment, fleet managers must identify potential issues that could make a fleet unsafe or non-compliant. After identifying such risks, they must determine a proper framework of practices to improve safety and prevent further hazards. The ultimate goal is to ensure the safety of the fleet of vehicles, their drivers, and other motorists. There is no “one size fits all solution” to risk assessment in the fleet industry. However, adopting a set of practices, programs, and tools would be a great place to start.

By law, a risk assessment should be sufficient and suitable, which means it has to be good enough to ensure the safety of employees. It does not need to be technical or complicated. In fact, you can carry out risk assessments during the regular course of business operations.

It’s crucial to conduct a thorough and accurate assessment. If you have more than five people in your organisation, you must jot down any significant findings from the risk assessment you have conducted.

2. Managing Lift Trucks

Lift trucks are some of the most dangerous fleets of vehicles. They are involved in almost a quarter of all accidents in the workplace. While these vehicles are highly effective at moving heavy loads and increasing efficiency, they also come with hazards that could endanger drivers and pedestrians. Fleet managers and owners should be aware of the dangers of using lift trucks in the workplace.

Some of the most common hazards associated with lift trucks are unsecured loads that could fall on drivers and pedestrians, tipping of the lift truck due to imbalanced load and excessive speed, collisions, and workers falling while standing on the forks.

The HSE has established standards for the safety of using lift trucks. It requires operators to undergo basic training before operating any lift truck, even if they don’t drive the vehicle regularly. Operators have to be trained as per OSHA requirements. Employers should devise a training program incorporating the general principles of the safe operation of lift trucks. The training should also educate drivers about the hazards created by these vehicles. Trained operators should know how to safely conduct the job, as specified in the workplace evaluation.

Fleet managers and owners must provide operators with formal and practical training on the proper use of lift vehicles, which may include a combination of videos, lectures, software training, demonstrations, written material, and practical exercises. Moreover, employers have to certify that operators have been given the necessary training and evaluate them at least once every three years.

Fleet owners and operators must work together to ensure the safe use of lift trucks before they get behind the wheel. They must conduct a daily inspection of all the lift trucks. These include examining the tires and oil levels, checking any water, oil, or radiator leaks, testing the brakes, lights, steering wheel, and horn and ensuring that the forks are straight and don’t have any cracks.

When operating the lift truck, the operator must ensure the load is well-balanced and secure to keep it from tripping. The driver must also check any obstructions and uneven surfaces in the surrounding area to prevent accidents.

3. Vehicle Safety

Businesses that operate vehicles, including fleet companies, have to be aware of the consequences that could arise from road traffic accidents. Hefty fines, insurance claims, personal injuries, charges of corporate manslaughter, and even prison sentences are some potential consequences you could face if you fail to comply with vehicle safety. Therefore, you must ensure that you’ve done everything necessary to fulfil your obligations and have something to prove your compliance.

Establishing a process for reporting faults can help to avoid accidents and is also essential in assessing if the safety measures you have put in place are effective. When it comes to this, one of the legal requirements is to conduct daily vehicle checks to identify potential issues. Fleet owners must give drivers proper training in conducting necessary checks and reporting any problems. They should also consider providing drivers with a daily checklist to sign for their vehicles, like checking if the tyres were properly inflated.

Drivers must immediately report any faults on the vehicle to anyone with enough authority to ensure proper actions. They should also make them aware of anything that could affect the vehicle’s roadworthiness and must record these. If they detect any fault, they must make a report about it and include the date, vehicle identification mark or registration, details of the problem, driver’s name, etc.

Fleet managers should conduct regular safety inspections and maintenance vehicles according to time or mileage using a maintenance scheduling system, planner, or wall chart. They should conduct safety inspections according to the vehicle handbook, which includes noting the inspection details and frequency. Anyone conducting the safety inspection of vehicles has to be competent enough to assess any signs of defects. There should be a system to ensure that any unit not safe on the road will be removed from service until they are deemed fit for use.