Stellantis and Ample establish partnership to leverage battery swapping solution
Stellantis and Ample establish partnership to leverage battery swapping solutionDec 07, 2023
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UK automotive industry welcomes plan to extend EV trade rulesThe UK automotive industry has welcomed the European Commission’s proposal to extend the current ‘rules of origin’ for electric vehicle batteries under the Trade Cooperation Agreement (TCA) until 2027. The tariff exemptions, which were agreed as part of the Brexit deal, were due to end on January 1, 2024.
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Fleets fuel new car market registering over 75% of new BEVsThe UK new car market grew by 9.5% in November to reach 156,525 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). In the market’s best November for four years, registrations almost returned to pre-pandemic levels, down just 96 units (-0.1%) on 2019.
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UK automotive industry welcomes plan to extend EV trade rules
Fleets fuel new car market registering over 75% of new BEVs
OEM pushbacks suggest agency model is a work in progressAutomotive veteran Dale Wyatt has reiterated his opposition to the agency model and what he sees as the negative impact it could have on the industry amid claims that several manufacturers are pushing back on a UK rollout. The Director of Suzuki, UK and Ireland, warns that OEMs underestimate the value of dealers at their peril. But those various pushbacks should come as no surprise, according to Cox Automotive’s Insight Director Philip Nothard.
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Public EV charging cannot support growing fleet, new Siemens Financial Services study findsSiemens Financial Services (SFS) has released a new insight paper estimating current density of public EV chargers across a number of countries and regions. Density is calculated both as a proportion of the electric vehicle ‘fleet’ (number of public EV chargers divided by number of EVs) and as EV chargers per kilometre of main road.
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Six in ten car dealers call for government support at the Autumn StatementAhead of the Government’s Autumn statement, motor dealers have outlined the support they need. Six in ten (61%) dealers say they need help with rising costs, according to Close Brothers Motor Finance’s Forecourt Foresight research.
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UK automotive sector seeing a predicted return to a ‘push’ marketCox Automotive believes that the latest new car registration figures strongly suggest the market has returned to a ‘push’ model – as its forecasts for this year and beyond remain on track. As we head into the final weeks of the year, Cox Automotive’s forecasts for 2023, published every quarter, predict that new car registrations will total 1.94 million by the year’s end.
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Ayvens reaches half-a-million EVs on the roadAyvens has reached a historical milestone of half-a-million funded electric vehicles (EV) confirming its position as the largest multi-brand EV fleet worldwide. As disclosed in its third quarter and nine months 2023 results, Ayven EV penetration reached 34% in new passenger car registrations over 9M 2023, of which 37% in Q3 2023 alone.
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OEM pushbacks suggest agency model is a work in progress
Public EV charging cannot support growing fleet, new Siemens Financial Services study finds
Six in ten car dealers call for government support at the Autumn Statement
Ayvens reaches half-a-million EVs on the roadOctober new car market beats pre-pandemic levels driven by large fleet registrationsOctober’s new car market grew by 14.3% to reach 153,529 registrations, 7.2% above pre-pandemic levels and marking the best performance for the month since 2018, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). The 15th month of consecutive growth was driven almost entirely by large fleet registrations, which grew 28.8% to reach 87,479 units.
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Allica Bank launches £10m EV fund dedicated to supporting businesses go electricAllica Bank has launched a new £10m fund to support businesses with the purchase of electric vehicles (EVs), part of a wider initiative to help businesses reduce their carbon footprint and achieve sustainability targets. The new fund has been introduced following Allica’s latest broker survey of its asset finance brokers, in which more than half (54%) of respondents stated the main reason for their clients seeking sustainability-based finance was to purchase EVs.
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UK car manufacturing grew by 40% in SeptemberUK car manufacturing rose by 39.8% in September with 88,230 vehicles leaving British factory lines – 25,105 more than the same month last year, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT).
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Cox Automotive’s latest Report makes bold predictions for 2024’s new and used marketsAutomotive services provider, Cox Automotive, today unveils a wealth of industry data and understanding with their 2023/24 Insight Report, produced in collaboration with Grant Thornton. The Report includes forecasts for the UK’s new vehicle sector which foresee a baseline scenario of 2,020,050 new vehicle registrations in 2024, a 4.3% year-on-year increase albeit a continued steep decline compared to the 2000-2019 average.
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Stellantis resets China strategy with €1.5bn stake in EV maker LeapmotorStellantis N.V. and Leapmotor have announced that Stellantis plans to invest ca. €1.5 billion to acquire approximately 20% of Leapmotor, making Stellantis a significant shareholder. The deal also outlines the formation of Leapmotor International, a 51/49 Stellantis-led joint venture that has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China. This will be an industry-first global electric vehicle relationship between a leading automaker and a Chinese pure-play NEV OEM.
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Young drivers priced out of EV market, says Fleet EvolutionYoung drivers are being priced out of the EV market due to insurers’ outdated attitudes, lower salaries and high front-end prices of vehicles, rather than being encouraged, as the EV drivers of the future, to join in the electric revolution.
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EV drivers charge ahead with increasing savingsWith the wholesale price of electricity falling in the UK, alongside the rising cost of petrol at the pumps, EV drivers are enjoying saving hundreds of pounds per year compared to drivers of conventional vehicles. In a recent nationwide survey of drivers by Tusker, 79% of EV drivers stated that they chose an electric car in order to save money. Over the course of 2023 and into 2024, these savings have remained consistent and are only set to increase.
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Leasing giants called out for weak climate leadership and low ambition on EVs in the EUA new report by Transport & Environment is calling upon Europe’s biggest leasing companies to stop leasing fossil fuel cars by 2028. Europe’s top seven leasing companies are not the green leaders they claim to be, a new study by Transport & Environment (T&E) reports. Using a framework of seven criteria to evaluate their performance on green mobility, none of the companies succeeded.
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The state of the EV market: What you need to know in 2023In the ever-evolving landscape of the automotive industry, the electric vehicle (EV) market stands out as a beacon of innovation and progress. As we delve into 2023, it's imperative for asset finance professionals to understand the current state of the EV market, given its pivotal role in shaping the future of transportation worldwide.
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Agreement with Europe needed to avoid electric vehicle tax hikeThe Society of Motor Manufacturers and Traders (SMMT) is today urging the EU and UK to strike an immediate agreement to avoid damaging Brexit tariffs on electrified vehicles. The plea, echoed by the EU auto sector, is to delay the implementation of tougher new Rules of Origin (ROO) requirements on batteries which could render EU and UK made electrified vehicles uncompetitive in each other’s markets.
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Allica Bank launches £10m EV fund dedicated to supporting businesses go electric
Stellantis resets China strategy with €1.5bn stake in EV maker Leapmotor
Young drivers priced out of EV market, says Fleet Evolution
EV drivers charge ahead with increasing savings
Leasing giants called out for weak climate leadership and low ambition on EVs in the EU
