Daily Motor News-Tuesday 29 October

Volkswagen plans to close at least three German plants and cut thousands of jobs 

Volkswagen plans to shut at least three German plants, axe tens of thousands of jobs and slash pay by 10 per cent, the company’s top employee representative said on Monday. The restructuring would mark the first closure of domestic plants in the company’s 87-year history and set up a battle with powerful unions and politicians in Germany, where VW has 300,000 employees. Full story

Ticker launches connected insurance for older drivers 

15 years ago, connected insurance changed the game for young drivers, who were paying incredibly high premiums. The team at Ticker were instrumental in that revolution. Now, Ticker has launched a connected insurance product specifically designed for over-65s, to help them stay safe on the road and combat the increasing cost of their insurance. Full story

Impact of 20mph speed limit on motor insurance premiums revealed 

Iwan Doherty, senior researcher at Fairer Finance, reveals some providers – but not all – are beginning to let the new car accident data about 20mph speed limits influence their motor insurance prices. In June 2024, Esure announced that it had seen a 20% drop in claims for car accidents in Wales since the Welsh government’s 20mph speed limit was introduced. Full story

Vella Group to join NBRA  

The Vella Group has announced that all its sites will join the NBRA/VBRA. Managing Director Marc Holding confirmed the news during a visit to the Vella Group’s new Manchester site from Martyn Rowley and Antony Barnes of the NBRA. Full story

Allied Vehicles completes Sirus Mobility acquisition 

Allied Vehicles has acquired Sirus Mobility, a leading supplier of adapted vehicles for drivers and passengers with disabilities. Allied Vehicles is Europe’s leading supplier of adapted and special purpose vehicles and also offers vehicle repair services through Allied Autocare, which has sites in the north of England and Scotland. Full story

Results of NFDA’s Dealer Attitude Survey – Summer 2024 edition 

NFDA’s Dealer Attitude Survey (DAS) is a biannual survey examining the relationship between franchised dealerships and manufacturers throughout the UK.  The Summer 2024 edition of the DAS continued a general upward trend across most questions, with this edition seeing 35 out of 56 (or 63%) questions showing an improvement. Full story

Cap hpi welcomes ‘reassuring’ September BEV values rise 

Battery electric vehicles (BEVs) were the best-performing fuel type in September, rising for the second consecutive month, according to the latest analysis from cap hpi. The stabilising of the BEV market is good news for dealers who were hammed by falling values in the final quarter of 2023. Full story

WTW unveils groundbreaking machine-led solution to redefine insurance reserving best practice  

WTW, a leading global advisory, broking and solutions company, has announced the launch of ResQ Machine-led Reserving, a game-changing technology for insurers and reinsurers to enhance accuracy and efficiency in P&C reserving. Full story

Steven Eagell partners with MK College to inspire female students 

The Steven Eagell Group teamed with Milton Keynes College to host a week-long work experience event for female students, aiming to inspire them to consider careers in the automotive industry. Full story

Vertu Motors expands with acquisition of Burrows Motor Company 

Vertu Motors plc, one of the UK’s top automotive retailers, has announced the acquisition of Burrows Motor Company Limited, adding nine dealerships across Yorkshire and Nottinghamshire. Full story

Black cab taxi trader reveals how insurance premium hikes are affecting the market  

The UK’s black cab trade is feeling the squeeze as insurance costs soar, with drivers facing unprecedented hikes in premiums. A cab fleet expert and trader highlighted the significant impact this is having on cab sales and drivers alike. Full story

FirstRand will appeal a recent UK Court of Appeal ruling regarding commission disclosure practices in motor finance agreements. 

FirstRand, which operates in the UK via its Aldermore specialist lender and savings bank, which owns a UK vehicle finance business MotoNovo, will appeal to the UK’s Supreme Court and argue that motor dealers do not owe customers fiduciary duties or any other duty around providing advice, recommendation, or information on an impartial basis. Full story

ACEA announces commercial vehicle registrations for first three quarters of 2024 

In the first nine months of 2024, new EU van sales increased by 8.5%, reaching 1,170,310 units, driven by positive results in all four key markets. Spain led with a remarkable 16.7% rise, followed by Germany at 8.2%, Italy at 7.3%, and France at 5.8%. Full story