A new white paper published by the Vehicle Remarketing Association (VRA) focuses on the key issue of ensuring that used electric vehicle (EV) batteries are properly assessed before sale. Called ‘Electric Vehicle Battery Health: What the Remarketing Sector Needs to Know’, it has been written by battery electrochemist Euan McTurk, creator and presenter of Plug Life Television, a YouTube channel about EVs. Further details about downloading the white paper can be found on the VRA’s website.
‘Furore’, ‘about turn’, ‘climb down’ – all of these expressions have been levelled at the UK Government on release of the news that the much-vaunted and well-publicised deadline for the ban on sales of new petrol and diesel internal combustion engine, (or ICE) vehicles has been put back five years, from 2030 to 2035. On the other hand, the news has also been described as ‘sensible’, ‘pragmatic’ and ‘more transparent’, so which stance is the correct one? And what are the reasons behind the change in attitude, and what are the reactions of the various players in the automotive sector? A press release issued from 10 Downing Street says that: “Under revised plans, the Government will move back the ban on the sale of new petrol and diesel cars by five years, so all sales of new cars from 2035 will be zero emission. This will enable families to wait to take advantage of falling prices over the coming decade if they wish to.” Prime Minister Rishi Sunak acknowledged that the going could be tough, saying: “There will be resistance – and we will meet it. Because I am determined to change our country and build a better future for our children. Nothing less is acceptable.” Following a mixed reaction from the NFDA, other automotive industry associations have added their opinions to the move.
Keynote speakers from the Bank of England (BoE) and the Government’s Office for Zero Emissions Vehicles (OZEV) have been named for the Vehicle Remarketing Association’s (VRA) 2024 Seminar. Graeme Chaplin, the BoE’s agent for the West Midlands, will present on the UK’s economic outlook for next year, while Abdul Chowdhury, head of vehicle policy at OZEV, look at the latest developments in the EV regulatory framework.
Used electric vehicle (EV) values could fall by a further 5-10% in the next few months, the latest Vehicle Remarketing Association (VRA) member meeting was told. Giving a presentation on market trends for different fuel types, Dean Bowkett of Bowkett Consulting said there continued to be an imbalance between used EV supply and demand, despite recent dramatic falls in value.
The Vehicle Remarketing Association believes there is an imbalance in government incentives between new and used electric vehicles. It says more needs to be done to ensure a healthy market for used models. The association is calling for this support to feature in the Spring Budget. VRA chair Philip Nothard said: “The government should be applauded for doing much in recent years to encourage uptake of new EVs, especially through low personal company car taxation. This has been notably successful and electric power now makes up a significant proportion of new car sales. However, the used car sector has so far been left to look after itself when it comes to EVs and, as shown with dramatic price falls in recent weeks and months, demand is extremely variable even for the relatively low numbers of electric cars now making their way onto the used market.”
Philip Nothard has been elected as the new chair of the Vehicle Remarketing Association, succeeding Sam Watkins, who has held the role for the last two years. With a 30 year career in the used car sector, he is currently insight and strategy director at Cox Automotive, and has also held key positions at Cap HPI as well as other senior roles across the automotive sector.
The latest temporary closure of Honda’s Swindon plant because of parts shortages could be the “tip of the iceberg” for new car supply issues in 2021, the Vehicle Remarketing Association is warning. Chair Philip Nothard said that the problem, believed to be caused by poor availability of semiconductors, was potentially a sign of things to come from all manufacturers.
Nobody would argue with the statement that the times in which we are currently living are unprecedented, both in our commercial and everyday lives. We are having to face a constant barrage of new challenges to our usual ways of doing business, taking account of changes – some seemingly conflicting – in legislation and recommended working practices. There is much talk about ‘the new normal’ as people and companies try to adapt to different ways of working. Lockdowns and social distancing have added to the pressure felt by many, with staff being furloughed and told to stay at home for many weeks – in effect being paid not to work.
Retail-ready stock is becoming ever more in-demand in the post-lockdown used car market, the Vehicle Remarketing Association is reporting. VRA chair Sam Watkins explained that dealers were trying to make the process of acquiring and retailing stock as straightforward as possible at a time when the ongoing effects of the coronavirus crisis meant that key services such as transportation remained erratic.
The post-Brexit economic outlook, developments in vehicle autonomy and the impact of the Government’s 2035 electric vehicle announcement will all be part of the Vehicle Remarketing Association’s next member meeting, taking place on March 18 at the offices of motor industry legal specialists Geldard’s in Derby.
A potential “charging crisis” could soon emerge among vehicle remarketing companies as electric vehicles start to make their way onto the used market in larger numbers, says the Vehicle Remarketing Association.
The speaker programme for the Vehicle Remarketing Association’s “2020 Vision” seminar has been announced as the event reaches capacity with the final delegate spaces booked.
More than 150 industry professionals are expected to attend The Slate at Warwick University on Wednesday 27th November to hear a programme designed to help equip them to meet the challenges facing the sector in the coming year.
The challenges facing the remarketing sector in 2020 is the subject of a major, free seminar that has been announced by the Vehicle Remarketing Association, which represents organisations involved in buying, selling and preparing 1.5 million used vehicles every year.
The latest developments in end of life vehicle inspections is the core theme of the Vehicle Remarketing Association’s next meeting, taking place on September 18 at the Derby offices of motor retail legal experts Geldards.
Pre-registrations are returning to the new car market in a noticeable manner, members of the Vehicle Remarketing Association were told at the organisation’s July member meeting. Speakers Mike Jones, chair of ASE Global and Rupert Pontin, insight director at Cazana, both indicated in their presentations that late-month registration activity was increasing.