Stuart O'Brien, Author at Fleet Summit - Page 5 of 53
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Stuart O'Brien

Confidence and calm urged as used car values drop

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Fleets and dealers should trust the data and maintain a cool head during a period of volatile values in the UK’s used car market, according to analysis from Cox Automotive.

Cox Automotive’s confidence in its forecast persists as we approach the final weeks of 2023. Its year-to-date baseline forecast of 5,545,530 is within 99.7% – or approximately 18,000 transactions – of the SMMT’s ‘actual’ figure of 5,563,576. While a downbeat Q4 is anticipated with weak demand and increased supply, Cox Automotive believes its 2023 used car transactions forecast of 7.15 million remains achievable. This represents a 4% year-on-year increase, but 3% below the 2010 – 2019 averages.

Philip Nothard, Cox Automotive’s Insight Director, said: “Despite current concern about used car values and the impact of this on retail sales, we remain confident in our full year forecast and believe the year will close on 7.15 million used car transactions.

“We anticipated that the second half of the year would be significantly slower than the first. Our view that a softening in consumer confidence combined with a return to the over-supply of new cars, resulting in depreciation levels not witnessed since 2015 and easing transaction volumes, has proved accurate.”

According to Nothard, the used market is now undergoing a transitional period, driving a realignment of values. He argues the importance of reflecting on historical data when evaluating the current situation. Over the past two decades, the UK’s average annual used vehicle transactions stood at 7.4 million, with peaks exceeding eight million only occurring in 2016 and 2017. The ratio of used-to-new transactions averaged 3.37:1, rising to 4:1 during the pandemic-induced pause in new car production.

He added: “Current trade values remain unrealistically high despite the recent trade drops. A remarkable four-year period with minimal depreciation has contributed to this trend, with oversupply and the return of discounts, deals and incentives in the new car market creating an unsustainable cost discrepancy. Quite simply, used cars have become comparably unaffordable; at the same time, demand has eased, and the market is adjusting accordingly. While this dramatic depreciation will bring about some short-term pain for some, we must remember that over the long-term the sector has enjoyed a period of healthy returns, and we’re now returning to where we ought to be.

“While the prospect of the UK’s used car market returning to eight million transactions is an outlier, the 2023 forecast of 7.15 million transactions is not out of kilter with historical demand. The sector has bounced back from the lows of 2020 and 2021, and now prices are aligning accordingly. Since May, we’ve observed a decline in wholesale values, reflecting the return of volume to a market still grappling with economic headwinds.

“It’s a cliché, but we urge everyone in automotive to keep calm and carry on as this realignment of values plays out,” Nothard said. “Looking ahead to Q1 of 2024, we anticipate some seasonal stabilisation but no substantial ‘bounce’.”

Turning to the EV market, Nothard believes that the recalibration of used EV residual values, gradually approaching parity with ICE vehicles, offers a positive trajectory for the electric vehicle market’s future. However, the outlook for EV values remains uncertain. The growing presence of EVs in the wholesale market, coupled with advancements in battery technology, may introduce fluctuations in electric vehicle values for some time to come.

Cox Automotive’s full new and used car forecasts for 2023 can be found here. Its forecasts for 2024 and beyond were recently published as a part of its fifth Insight Report, which also includes a deep dive into key issues currently facing dealers, OEMs and fleets.

Photo by Obi – @pixel8propix on Unsplash

Brake data: Speed-related road deaths and injuries up ‘significantly’

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Road deaths and serious injuries caused by driver speed rose significantly last year, according to analysis of government road casualty data by Brake, the road safety charity, for Road Safety Week 2023.

The latest road casualty statistics show that, in 2022, 1,766 people died on UK roads (1,711 in Britain, 55 in Northern Ireland), a 10% increase on figures from the previous year (see Table 1). Brake’s analysis also found that in the same period, road deaths caused by drivers exceeding the speed limit rose by 20% (see Table 2) [3].

Brake also carried out a public opinion survey, asking more than 2,000 drivers about their driving habits and attitudes to speed and speed limits [4]. The survey found that 92% of drivers think that speed limits are essential for the safety of our roads. Despite this, more than a third (34%) of those surveyed said they sometimes or often drive faster than the speed limit, and 40% think that driving just a little bit over the speed limit doesn’t matter. Two-fifths (39%) of drivers surveyed also agreed that the default speed limit on roads in built-up areas should be lowered from 30mph to 20mph, supporting changes that are taking place across the UK to make communities safer through the introduction of lower speed limits [5,6,7].

Brake is releasing the survey results at the start of its biggest annual road safety campaign, Road Safety Week, which runs from 19 to 25 November. The charity is calling on everyone to join a national conversation about speed, to raise awareness of the dangers of excessive and inappropriate speed, and challenge why so many people still think it is acceptable to drive faster than the speed limit.

Road Safety Week began on Sunday 19 November to coincide with the World Day of Remembrance for Road Traffic Victims, for which people across the world lit candles in memory of those killed or seriously injured on roads. Brake worked with local councils across the UK to get public buildings and other landmarks lit up in yellow, to show support for road victims.

This year, more than 3,400 schools, communities, organisations and emergency services, together representing more than 17 million people, have signed up to take part in Road Safety Week by organising local activities, sharing important road safety messages and posing the question: If five people die on UK roads every day, why do we still think it is ok to speed? Brake has provided free resources to everyone taking part in Road Safety Week, including campaigns toolkits, lesson plans and assemblies for school, as well as factsheets, films, posters and more for businesses, local communities and campaign groups.

Here are some examples of events that are taking place around the UK.

  • In South Yorkshire, Mayor Oliver Coppard and Active Travel Commissioner Ed Clancy will attend the Lifewise Centre in Rotherham to run road safety lessons with local schoolchildren. They will also be riding bicycles that will light up with road safety messages.
  • In London, the BT Tower will display a message supporting the central theme of Road Safety Week, Let’s talk about speed!
  • Blackburn and Darwen Borough Council will hold a road safety parade bringing together local high schools and primary schools to share important road safety messages. The parade will follow a pedestrianised route through the town centre, ending at Blackburn Town Hall where the Mayor of Blackburn will deliver a short speech.

The speed we choose to drive at can mean the difference between life and death. Our speed dictates whether we can stop in time to avoid a crash, and the force of impact if we can’t stop. This Road Safety Week, I urge you to join the conversation and talk about speed.

Ross Moorlock, interim CEO at Brake, said: “Road death is sudden. It’s traumatic. It sends shockwaves across families, schools, workplaces and communities. This year, we have already supported more than 1500 people affected by road crashes through our National Road Victim Service.

“Today, five people will be killed on our roads. And tomorrow, another five won’t make it home to their families. And so on, and so on, until we all say ‘Enough!’ and start taking responsibility for each other’s safety on the road.

“The speed we choose to drive at can mean the difference between life and death. Our speed dictates whether we can stop in time to avoid a crash, and the force of impact if we can’t stop. This Road Safety Week, whoever you are, and however you travel, I urge you to join the conversation and talk about speed. Please talk to as many people as you can to find out why, when five people die on our roads every day, so many of us still choose to drive too fast.”

Road Safety Week 2023 is organised by Brake, sponsored by Arval UK, Autoglass® and DHL Supply Chain, and supports the Department for Transport’s Think! campaign.

 

Devising your Grey Fleet Strategy: Key considerations for Fleet Managers

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In the UK, managing a grey fleet – where employees use their private vehicles for business purposes – presents unique challenges and opportunities for Fleet Managers. As businesses strive for efficiency and compliance, developing an effective grey fleet strategy becomes essential. Here we outline the key considerations for Fleet Managers when deciding on the best approach for your organisation…

Compliance with Legal Requirements

The paramount consideration is adherence to legal obligations. Under UK law, specifically the Health and Safety at Work etc. Act 1974, employers are responsible for the welfare of employees conducting business in their own vehicles. This means ensuring that private vehicles used for business purposes meet the same safety standards as company-owned vehicles. Fleet managers must ensure that all grey fleet vehicles are roadworthy, have valid MOT certificates, and are properly insured for business use.

Cost Management

Effective cost management is vital in grey fleet management. While using private vehicles can reduce the need for a large company-owned fleet, hidden costs such as mileage reimbursements and wear and tear can accumulate. Implementing a clear policy on mileage claims and ensuring efficient route planning can help control these costs. Additionally, adopting a telematics system can provide valuable data to analyse and optimise travel routes, thereby reducing unnecessary expenses.

Environmental Impact

With the UK’s increasing focus on reducing carbon emissions, fleet managers must consider the environmental impact of their grey fleet. Encouraging the use of lower-emission vehicles and promoting alternative modes of transport, such as public transport or cycling, can significantly reduce the carbon footprint of the grey fleet. Implementing a ‘clean car policy’, which sets a cap on CO2 emissions for vehicles used for business travel, can also be an effective strategy.

Duty of Care

The duty of care extends beyond legal compliance; it involves ensuring the safety and wellbeing of employees. Regular checks on driver licences, vehicle maintenance records, and insurance cover are essential. Providing driver training programmes can also promote safer driving habits, reducing the risk of accidents and associated costs.

Technology Integration

Leveraging technology can streamline grey fleet management. Tools like fleet management software can track vehicle usage, monitor maintenance schedules, and ensure compliance with legal requirements. These systems can also provide insights into driver behaviour and vehicle performance, enabling more informed decisions.

Employee Communication and Engagement

Clear communication with employees is crucial. A comprehensive grey fleet policy should be communicated effectively to ensure that all drivers understand their responsibilities. Regular engagement and feedback can help identify issues and improve the overall efficiency of the grey fleet.

Managing a grey fleet in the UK requires a balanced approach that considers legal compliance, cost efficiency, environmental impact, duty of care, technology integration, and employee engagement. By addressing these key areas, fleet managers can develop a strategy that not only meets the needs of the business but also ensures the safety and satisfaction of their employees. As the business landscape evolves, so too will the challenges and opportunities in grey fleet management, requiring ongoing adaptation and strategic planning.

Are you on the hunt for Grey Fleet solutions for your organisation? The Fleet Summit can help!

Photo by Art Markiv on Unsplash

SAVE THE DATE: Fleet Summit Summer 2024

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Missed last week’s Fleet Summit? Not a problem! The next event will take place in June 17th & 18th 2024 at the Hilton Manchester Deansgate – so join us for the first of two Fleet Summits taking place in the New Year!

Make sure you register today as demand is already high following this week’s successful event.

Your delegate pass will give you access to industry presentations, as well as your itinerary of 1-2-1 relaxed meetings with budget-saving suppliers.

There is no hard sell at this event, just a great opportunity to gain industry insight and build business relationships to prepare for every eventuality.

Confirm you attendance here.

Do you specialise in fleet Fleet Service, Maintenance & Repair solutions? We want to hear from you!

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Each month on Fleet Management Briefing we’re shining the spotlight on a different part of the fleet market – and in November we’ll be focussing on Service, Maintenance & Repair solutions.

It’s all part of our ‘Recommended’ editorial feature, designed to help fleet buyers find the best products and services available today.

So, if you’re a supplier of Service, Maintenance & Repair solutions and would like to be included as part of this exciting new shop window, we’d love to hear from you – for more info, contact Chris Cannon on 01992 374096 / c.cannon@forumevents.co.uk.

Here’s our features list in full:

Dec – Service, Maintenance & Repair
Jan 24 – Electric & Hybrid Vehicles
Feb 24 – Dash Cams
Mar 24 – Driver Training
Apr 24 – Accident & Risk Management
May 24 – Fleet Management Software
Jun 24 – Telematics/Tracking
Jul 24 – Contract Hire & Leasing
Aug 24 – LPG/Alternative Fuel & Fuel Management
Sept 24 – EV Infrastructure
Oct 24 – Duty of Care
Nov 24 – Grey Fleet

Photo by Ville Kaisla on Unsplash

GREY FLEET MONTH: How mixing business with pleasure has evolved for Fleet Managers

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The concept of the ‘grey fleet’ — personal vehicles used for business purposes — has been a long-standing component of corporate mobility in the UK. However, over the last decade, the grey fleet sector has undergone significant transformation, influenced by factors such as technological advancements, environmental considerations, and changes in work patterns. Here as part of Grey Fleet Month, we explore these developments and their implications for Fleet Managers…

Ten years ago, grey fleets were a largely unmanaged aspect of many organizations, with employees using their cars for business trips without much oversight. The costs associated with this practice were often buried in expense claims, making it difficult for companies to fully grasp the financial implications. Additionally, duty of care was a grey area, as ensuring the roadworthiness of employee-owned vehicles presented unique challenges.

One of the primary shifts in this sector has been the increased focus on environmental impact and corporate responsibility. The UK’s commitment to reducing carbon emissions has led to tighter regulations on vehicle emissions. Fleet Managers now need to consider the environmental footprint of their grey fleet. This push for sustainability has prompted a move towards greener vehicles, such as hybrids and fully electric cars, with many businesses offering incentives for employees who choose environmentally-friendly vehicles.

Technology has also revolutionized the management of grey fleets. Telematics systems and mileage tracking apps have provided Fleet Managers with tools to monitor and analyze the use of personal vehicles for business purposes more efficiently. These technologies facilitate accurate reimbursement for business mileage, ensure compliance with HMRC rules, and provide critical data to optimize fleet utilization and reduce costs.

The past decade has also seen an increased emphasis on duty of care. Fleet Managers are now more aware of their legal responsibilities regarding grey fleet management. This heightened focus has led to the implementation of more stringent policies around the use of personal vehicles, including regular vehicle checks, mandatory insurance requirements, and driving license reviews.

Moreover, the evolution of flexible and remote working practices, especially accelerated by the COVID-19 pandemic, has reshaped the grey fleet landscape. With employees working from home more frequently, the need for business travel has diminished, leading to a reduction in grey fleet mileage. However, this trend has also raised new challenges in managing and supporting a dispersed and mobile workforce.

Implications for Fleet Managers have been manifold. Firstly, there is a need for more sophisticated fleet management strategies that encompass not just company-owned vehicles but also personal vehicles used for business purposes. Secondly, there is an increased administrative burden to ensure compliance with evolving legal, environmental, and corporate governance standards.

Fleet Managers must now balance the cost-efficiency of utilizing grey fleets against the potential risks and liabilities. This requires a comprehensive approach that includes policy development, driver education, and embracing technology to track and manage grey fleet activity effectively.

The grey fleet sector in the UK has evolved significantly, driven by environmental policies, technological advancements, and changing work habits. For Fleet Managers, this evolution brings both opportunities to improve efficiency and the imperative to navigate a more complex regulatory and operational landscape. The next decade will likely continue to see innovations in mobility and fleet management as the line between personal and business vehicle use becomes increasingly blurred.

Are you on the hunt for Grey Fleet solutions for your organisation? The Fleet Summit can help!

Photo by Olav Tvedt on Unsplash

THE WHICH EV VIEW: Stellantis ushers in its 2nd gen of electrified commercial vehicles

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By WhichEV

In a new strategic push that targets the compact, mid-size, and large market segments, Stellantis is promising unparalleled capabilities, safety and versatility for businesses and professional customers. The launch features a world premiere of 12 nameplates across all van segments – including Citroën, FIAT Professional, Opel, Peugeot, and Vauxhall.

Stellantis, with its powerful slogan of ‘Six Brands, One Force,’ has brought together a remarkable array of new vans in all segments, from Compact to Mid-Size and Large. The lineup includes the likes of the new Citroën Berlingo, Jumpy and Jumper, FIAT Professional’s Doblò, Scudo and Ducato, Opel/Vauxhall’s Combo, Vivaro and Movano, Peugeot’s Partner, Expert and Boxer as well as the much-anticipated Ram ProMaster EV – set to debut by the end of 2023.

We believe Stellantis holds a ‘Number one for electric LCVs’ position – with brands like Vauxhall, Citroen and Peugeot under the same roof.

At the same time, their initial ranges have had range issues.

Their next-gen has been announced – with new power trains, bigger/better batteries etc, and it all seems much more competitive…

Click here to read the full story over at WhichEV.

Fleet Summit: Final call for next week’s event!

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There is only one delegate place left at the Fleet Summit – 15th & 16th November – Radisson Hotel & Conference Centre, London Heathrow – Register here.

Of course, you have the option to attend the Wednesday/Thursday or both days. Either way, attendance to the Summit gives you access to free industry seminars, meetings to connect 1-2-1 with solution providers, and networking breaks to meet new peers, including:

Central Bedfordshire Council
Hampshire Constabulary
M Group Services Plant & Fleet Solutions
Apogee Corporation
Tesco
Hyperoptic Ltd
GBA Logistics
Vantec Europe Ltd
West Northamptonshire Council
Lanes-i
Clean Linen Services Ltd
Braintree District Council
NHS Professionals
CitySprint UK Ltd
Dundee City Council
FCC Environment
Hampshire Constabulary
GBA Logistics
Central Bedfordshire Council
Ocado
Danone
Riverford Organic Farmers Ltd
Voyage Care
City Plumbing Supplies
Lampton Community Services
Love Space
TSG Building Services Plc
For Farmers UK Ltd
RCM Couriers Ltd
JustEat.co.uk
Bi Frost Transport
DFDS Logistics Services
Whistl UK Ltd
Willmott Dixon Holdings Ltd
Big Motoring World Ltd
Murdock Builders Merchants
Royal Mail
Baxter Healthcare
MD Group Ltd
T Brown Group
Whistl
Arla Foods
Tradechoice Carpet and Flooring
Sunny’s Worldwide Chauffeured Transportation
The Halo Trust
UCKG Help Centre
Willmott Dixon
The AA
The Church of Jesus Christ of Latter-day Saints
Arcadis Consulting (UK) Ltd
Bracknell Forest Council

Your complimentary pass will also include meals & refreshments throughout, overnight accommodation and an invitation to our gala dinner.

Click here to book you and/or a colleague a place.

Please contact us should you have any additional questions.

THE WHICHEV VIEW: Demand for used EVs on the rise

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By WhichEV

In a rapidly evolving automotive landscape, the world of used electric vehicles is experiencing a significant resurgence. The latest data from Auto Trader’s Retail Price Index reveals a compelling narrative, where the recovery in used EV values is driven by a combination of increasing consumer demand for greener vehicles and a softening in the recent surge of supply. With the average retail value of a used EV increasing by 0.6% on a month-on-month basis, the market is showing signs of stabilising and robustly defying a year-on-year decline.

The most striking revelation from the data is the continuous surge in used EV prices. So far in October, used EVs have seen their average retail value increase to £32,203, marking a 0.6% month-on-month growth. This surge comes after a stagnant September, which followed 12 consecutive months of decline. While prices remain down compared to the previous year, the rate of year-on-year decline is showing signs of softening at almost -20%, marking the shallowest rate since June.

Read WhichEV’s full analysis here…

The Fleet Summit is supporting Road Safety Week 2023: Here’s how you can get involved!

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Road Safety Week is Brake’s biggest annual road safety campaign: every year, thousands of schools, organisations, communities and individuals take part, coming together to shout out for road safety. This year it takes place from 19-25 November 2023 – Here’s everything you need to know…

Why is Road Safety Week important?

  • Every year, more than 1600 people are killed on UK roads and more than 25,000 people suffer serious injuries.
  • Every day, six children are killed or seriously injured on UK roads.
  • Road crashes are devastating events for families, friends and communities.
  • Road Safety Week gives us all the opportunity to remember people killed or injured on UK roads, and raise funds to help Brake care for road victims and campaign for safe roads for all.

Let’s talk about SPEED!

The theme for Road Safety Week 2023 is Let’s talk about SPEED.

Five people die on UK roads every day. One in four fatal crashes involve someone driving too fast.

By taking part in Road Safety Week 2023, you are joining a national conversation about speed.

Brake want to challenge why so many of us still think it’s ok to speed, and talk about solutions that we know can make roads safer for everyone.

Whoever you are, however you travel, we need to talk about speed.

What happens next?

Get your Road Safety Week resources

However you want to take part in Road Safety Week, there are resources to help you.

There’s guidance for taking part, speed facts and figures, posters, images to share on social media, films and our stopping distances calculator to test your knowledge.

  1. Read the Toolkit for participants attached to this email – this simple guidance on how to take part gives you the facts about speed, tips to start a converation and images and words to share on social media.
  2. Share the I’m taking part image attached to this email on your social media channels. Don’t forget to tag us @brakecharity and use #RoadSafetyWeek.
  3. Take part in the #Brake5 Challenge – our Road Safety Week fundraiser to raise awareness of 5 road deaths every day.
  4. Teaching road safety to children and young people? Go to Resources for educators to get lesson plans, assemblies, and other activities to help you teach children and young people about road safety. Use our kids manifesto for safe and healthy journeys to call for 20mph speed limits near your school.

More resources for educators, employers and emergency services are coming soon.

Brake will continue to send updates by email to everyone who has registered.

Any questions? Please get in touch by email at rsw@brake.org.uk

What else can I do?

Make a difference in your community

MyBrake gives you the tools and guidance to help you make a difference to safe and healthy mobility, whether with your family and friends, your community, your workplace, or nationally.

Sign-up to get access to free resources and support in choosing, and achieving, a road safety related goal.

Make safe and healthy journey choices

The Brake and Direct Line Roadmap to safe and healthy journeys can help you learn about, and commit to making, safe and healthy journey choices.

Get advice about choosing the safest vehicle, checking you’re safe to travel and being a responsible road user.