Daily Motor News-Thursday 31 October

Bain-Backed Esure Draws Interest from Aviva, Allianz 

Aviva Plc and Allianz SE are among potential bidders for Britain’s home and motor insurance firm Esure Group Plc, according to people familiar with the matter. Sampo Oyj, which owns British general insurer Hastings Group, and Belgium-based Ageas have also indicated early interest in the asset, the people said. Esure’s owner Bain Capital is working with advisers to gauge interest in the business, which could fetch about £1.5bn, the people said. Full story

CRU data reveals fall in motor injury claims 

Third quarter figures from the government’s Compensation Recovery Unit reveal the lowest level of motor injury claims ever. The Association of Consumer Support Organisations (ACSO) obtained the figures through a freedom of information request. They revealed that from July to September just 76,678 motor injury claims were made, which is 11% down on the same period in 2023 (85,830). Full story

Driving Change: How women can steer the automotive industry out of its talent crisis   

The gender disparity within automotive is holding both the industry and women back. It is up to major organisations to initiate a lasting change. In this contributed feature, Victoria Repice, SVP – Product Management, Solera, considers the issue. Full story

How your lifestyle really impacts your car insurance 

The real impact lifestyle factors can have on car insurance premiums have been revealed – from marital and residential set up, to the number of children drivers have. New data from Quotezone reveals the factors leaving households most out of pocket. Full story

IMI outlines its manifesto for automotive 

The IMI manifesto outline sets out three key priorities for the professional body: Attract and Recruit, including engaging with employers to remove barriers to apprenticeships and collaborating with government on addressing qualifications gaps; Retain, including supporting upskilling and continuous professional development; Future Skills and Technology, anticipating emerging skills needs and partnering with like-minded organisations to future-proof the sector. Full story

Jaguar Land Rover reports 59% surge in plug-in hybrid sales  

Jaguar Land Rover has reported a significant increase in the popularity of its plug-in hybrid models (PHEV), which it says serve as a transitional phase for customers moving towards fully electric vehicles (BEV). In the first half of their financial year, the automotive leader announced a 59 percent surge in PHEV sales compared with the same period last year. Full story

Carwow reports surge in interest for BEVs and used cars 

Carwow’s third-quarter consumer behaviour analysis reveals a strong upward trend in interest for battery electric vehicles (BEVs), with configurations increasing by 30% year-on-year to nearly 271,000. The platform also reported a rise in plug-in hybrid electric vehicle (PHEV) configurations, which grew by 15% to over 250,000. Full story

‘Ghost brokers’ haunting the insurance market 

The Financial Ombudsman Services is warning consumers to be vigilant of ‘ghost brokers’ this Halloween. ‘Ghost brokers’ act as insurance intermediaries – particularly for car and house insurance – offering policies that either do not exist or are invalid, leaving their victims without proper coverage and potentially facing serious consequences. Full story

Trends in the global motor insurance market  

The Covid-19 health crisis, which changed policyholder behaviour and led to the widespread use of teleworking, accelerated the transformation of motor insurance that had been in the making for a decade. Full story

Copart holds first auctions at new St Helens Operation Centre 

Global leader in online vehicle remarketing and recycling Copart UK has held its first auctions at its brand-new Operation Centre in St Helens, Merseyside.  

Hot on the heels of Gloucester, St Helens is the second new Copart Operation Centre to open its doors this year and is a substantial addition to the company’s operational network, boosting vehicle storage capacity by 50% in the northwest. Full story

Autumn Budget 2024 

Chancellor Rachel Reeves has delivered her Autumn Budget, which included a commitment to address the pothole pandemic, a freeze on fuel duty and a rise in National Insurance Contributions. This is the full Autumn Budget 2024 with supporting and related documents. Full story

ABI Director General reacts to the Budget 

ABI Director General Hannah Gurga said, “Insurers and long-term savings providers play a crucial role as investors in boosting the economy, so the government’s focus on stability, predictability and investment is welcome. We look forward to working with the government on the National Wealth Fund and the Pensions Review to further unlock the power of private investment, especially with a focus on green and good UK infrastructure projects.” Full story

SMMT statement on the Budget 2024 

Mike Hawes, SMMT Chief Executive, said, “The Chancellor is right to set out measures to address the deficit while investing for future growth. The automotive industry is a growth-driving sector, fundamental to the delivery of the country’s net zero ambitions. We therefore welcome the commitment of £2bn of automotive transformation funding as part of the government’s modern Industrial Strategy.” Full story

BVRLA response to Autumn Budget 

BVRLA Chief Executive, Gerry Keaney, said, “For our sector, the Chancellor has left many challenges unresolved. As penalties to stay in ICE vehicles ramp up in line with the ZEV mandate, more needs to be done. The barriers relating to the rental sector, charging infrastructure, consumer education and the used EV market, all need close attention. The Budget did bring some green shoots of positivity, suggesting that the government is taking the UK’s transition to cleaner, greener vehicles seriously.” Full story

Autumn Budget 2024 – IAM RoadSmart reaction 

IAM RoadSmart Director of Policy and Standards Nicholas Lyes said, “Any additional funding to fix our crumbling and potentially unsafe roads is welcome, but with one-off repair bill of over £16bn, the amount promised by the Chancellor is a drop in the ocean of what is required. Given the risks that potholes pose to both drivers’ wallets and riders’ safety, we need a longer-term approach to funding so councils can prioritise resurfacing work where it is most needed.” Full story

Autumn Budget offers some support to the automotive retail industry – NFDA 

Sue Robinson, chief executive of the NFDA, said, “NFDA welcome the Government’s decision to freeze fuel duty once again, as well as continuing the 5p cut, offering vital relief to the sector and consumers during challenging economic times. The rising costs of fuel have been one of the biggest pressures on consumers, and this freeze will help many motorists across the UK as well as keeping inflationary pressures down. NFDA strongly opposed any increase in its Budget submission.” Full story

Autumn budget: What it means for motorists – RAC 

RAC head of policy Simon Williams said, “The commitment of £500m to fixing potholes is positive news for drivers. But it’s vital councils don’t just use the money to fill potholes as this is unlikely to deliver the long-term benefit drivers so badly want to see. We believe greater use of preventative maintenance is essential.” Full story