As used car sales surge, the gap between demand for used and new vehicles gets ever starker, said Seán Kemple, Director of Sales at Close Brothers Motor Finance. Consumers shifting to cheaper cars due to the economic uncertainty caused by Brexit and the global slowdown is certainly a factor. But, so too is the challenge in supplying customers the makes and models of new vehicles that … [Read more...]
New car tax changes and how they affect you
The Government’s Spring Statement 2019 has outlined how April 2019 changes to vehicle-related taxes will hit fleets and drivers. Chancellor of the Exchequer Philip Hammond’s second Spring Statement was an update on the health of the UK economy and the state of the Government’s finances, rather than laying out any major new tax or spending announcements. The fleet industry had hoped that the … [Read more...]
BIK burden soars for company cars
Data experts cap hpi revealed the tax burden on company car drivers has soared over the last decade. The study looked at the popular fleet vehicle the BMW 320d SE and found that while the list price of the vehicle had risen by 23%, the BIK had risen 105% since 2009. In the same period, real wages have only risen 20%. The company is calling for the government to rethink its approach to taxing … [Read more...]
Changes to EV subsidies will hit consumers, say SMMT
Government’s decision to cut the Plug-in Car Grant will have far-reaching consequences for consumers, the environment and industry, said the Society of Motor Manufacturers and Traders. Reducing the purchase incentives for zero emission cars by a third and completely removing the grant for plug-in hybrids is totally at odds with Government ambition to be the world leader in the take up of ultra … [Read more...]
Option packs on cars to be hit in tax move
Individual options are unlikely to increase tax liabilities on new cars under the new WLTP regime, but commonly selected combinations of options will have emissions and tax impacts. This is likely to accelerate manufacturer initiatives to streamline their vehicle ranges and option packages, says Autovista Group, Europe’s leading pan-European automotive pricing experts. “NEDC emissions … [Read more...]
Right fuel for the job is really important
Chevin Fleet Solutions, a leading global provider of fleet management software, has released a new whitepaper, ‘Selecting Your Vehicles – the Right Fuel for the Job.’ The paper reviews the different fuel type options that are available on today’s market – including petrol, diesel, hybrid and electric – alongside both tax and legal changes that can have implications when choosing fleet … [Read more...]
Fuel for thought when you buy a new model this autumn
From September 2018 all new cars registered in Europe, India, South Korea and Japan will have to report their official fuel economy and CO2 figures according to the WLTP, says David Miles. This acronym means Worldwide harmonised Light vehicle Test Procedure and in Europe it replaces the outdated New European Driving Cycle test introduced in the 1980’s. The new WLTP method is supposed to … [Read more...]
Triple whammy hitting fleets
A “triple whammy” means that fleets are in their biggest ever state of policy flux, says fleet software specialist FleetCheck. The WLTP fuel and emissions measurement changeover, the “demonisation” of diesel and the lack of information about company car taxation after 2020 are creating a high degree of confusion and frustration, says Peter Golding, managing director at FleetCheck. He said, … [Read more...]
Government is clouding diesel issue and hurting sales
Consumers need to be given better quality information about diesel cars including from the Government and inconsistencies in Government policy needed to be removed to repair damage done to the new car market. That’s the opinion of Glenn Sturley, chairman of the Vehicle Remarking Association, who said, “The messages about diesel that the Government has given out in the last year or so are, at … [Read more...]
Government is slowing move towards greener cars, says RAC
UK Government announcements and tax costs are confusing car buyers, depressing sales and potentially slowing a switch to greener models, says the RAC. The Government yesterday published its annual vehicle licensing statistics for 2017 and that report shows a 6% drop in first time registrations, down to 3.1 Million vehicles. Cars made up over 80% of first time registrations or 2.5 Million … [Read more...]