The Brexit effect: certain uncertainty
Markets hate uncertainty. So it was no surprise that the pound fell to its lowest point in 30 years and the FTSE (as well as other European stock markets) took something of a beating in the immediate aftermath of the UK’s 23 June referendum decision to leave the European Union. But these were just the initial reactions. As we went to press (a few days after the Brexit vote), the FTSE has recovered, but not to pre-Brexit levels, while the pound remains at a 30-year low. A rally of this kind could be a sign of a return to stability. It could point to a new, upward trajectory. It could be the calm before the storm. But who knows? Now the British public has spoken, the question is: what does Brexit mean for tyres?
Continue ReadingKPMG: new car sales growth adjusted down 1/6 after Brexit
Market analysts at KPMG have revised down full year 2016 new car sales predictions by a sixth from 3 million units to 2.5 million following the UKs decision to leave the EU. The fear is that the automotive industry, of which tyre supply (both OE and aftermarket) are clearly a part will be most seriously and negatively affected by Brexit. John Leech, head of automotive at KPMG UK, certainly suggested as much: “The British public has voted to leave the EU. As recent surveys showed, the automotive industry is anticipated to be one of the sectors most impacted by the vote to Leave the EU.
Continue ReadingSterling crashes as UK votes for Brexit
The UK electorate has voted to leave the European union in a decision that is sending shockwaves through financial markets. It was only the third referendum in British history (two of which have related to the UK’s role in Europe).
Continue ReadingResearch highlights differing attitudes to whiplash claims
Online YouGov research commissioned by www.Claims.co.uk has revealed some surprising attitudes to whiplash claims amongst the public, with Brits over 15 times more likely to view claims as “honest” if they know someone who has made a claim. The 2015 autumn statement outlined a government consultation on ending the right to compensation for minor whiplash […]
Continue ReadingPRA ‘concerned’ over ‘green’ fuel proposals
The Petrol Retailers Association (PRA) has written to Andrew Jones MP, Parliamentary under Secretary of State for Transport, raising their concerns that government ministers are drawing up plans to introduce new ‘green petrol’, in a move which will push up costs for UK fuel retailers and may force some out of business.
Continue ReadingNMDA asks ‘what happened to promised grant for plug-in motorcycles?’
The National Motorcycle Dealers Association (NMDA) has written to Andrew Jones MP, parliamentary undersecretary of State for Transport, raising their concerns that the promised plug-in motorcycle grant scheme has still not been delivered.
Continue ReadingDiesel duty to rise to improve air quality?
The Government is considering reversing a cut in diesel duty in an effort to address air quality concerns. Transport secretary Patrick McLoughlin told the London Evening Standard that the former Labour chancellor Gordon Brown had made a mistake when he cut diesel duty by 3p in his 2001 budget. McLoughlin said: “It is something the chancellor will need to look at in due course.”
Continue ReadingDriverless cars could herald big insurance bill
The announcement of legislative support in the Queen’s Speech clears the road for driverless cars and expert personal injury portal Claims.co.uk says the forthcoming Transport Bill could fuel a future legal bill if all the outstanding legal obstacles cannot be smoothed out before the cars are seen on Britain’s roads. The government’s legislative programme outlined […]
Continue Reading£21 million grants for green transport initiatives
Councils across the country have won nearly £21 million of funding from the government to promote green forms of transport, it was announced recently. The funding is being given out for 23 sustainable travel initiatives across England that boost local economies by supporting people’s ambitions – offering cheap, clean and healthy travel options to access […]
Continue ReadingLeasePlan ‘would welcome the right legislation’ for autonomous vehicles
Vehicle management group LeasePlan UK has responded to the driverless car legislation in the Queen’s Speech earlier this week, highlighting that it is poised to welcome the right legislation and insurance or legal requirements needed to bring driverless vehicles to our roads.
Continue ReadingInsurance worries over driverless cars
We hear a lot in the news about the advent of driverless cars, with Volvo announcing recently that it would trial such vehicles next year in the UK. Obviously, producing driverless vehicles presents formidable technical challenges, but technology is by no means the only potential problem.
Continue ReadingNFDA concerned about living wage effects on business
“The NFDA is concerned with the new National Living Wage and the impacts that it might have on businesses”, said Sue Robinson, director of the National Franchised Dealers Association which represents commercial vehicle and franchised car retailers across the UK.
Continue Reading‘Real life’ emissions tests to be introduced next year
Existing lab tests designed to ensure emission limits are met have been shown to be inadequate and this is why the UK has secured a tough new Europe-wide ‘real driving emissions’ test. From next year, vehicles will have to meet emissions limits in real driving conditions across a wide range of typical operating temperatures. This will improve consumer confidence in manufacturers. The UK will be working to ensure that the new rules for real driving emissions and type approval are robust, deliver the expected outcomes and that manufacturers behave consistently.
Continue ReadingEuropean security standard ‘means a level playing field for independent garages’
The Independent Garage Association (IGA) has announced that access to manufacturer security data for the independent sector has cleared its final hurdle. The body for European Accreditation (EA) has officially ‘signed-off’ the SERMI (Security related Repair & Maintenance Information) scheme and it will now go forward into European Type Approval.
Continue ReadingMitsubishi forms fuel consumption test irregularities external investigation committee
After admitting to fuel efficiency test irregularities dating back as much as two decades, Mitsubishi Motors Corporation has established a special investigation committee to establish precisely what happened. As things stand the committee is made up entirely of external members. Mitsubishi admitted Improper conduct in fuel consumption testing” on 20 April 2016.
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