Today in Fleet – Tuesday 11 July
All the key news in fleet…
ICFM Masterclass to spotlight how ‘big data’ is reinventing fleet management
The reinvention of fleet management due to the advent of ‘big data’ is to come under the spotlight in a forthcoming ICFM Masterclass.
The third in the series, the free-to-attend Masterclass is being held at the NEC, Birmingham, on Tuesday, 3 October from 10am till midday and will see speakers highlight how technology is reinventing the way both fleets and the whole arena of corporate travel is being strategically managed.
Speakers include Paul Hollick, ICFM chairman and managing director of TMC, Justin Whitston, chief executive of Fleetondemand, and ICFM director Martin Evans, managing director of Jaama.
For further information, email the ICFM hub at [email protected].
Record high car insurance premiums
Motorists are being hit with record high insurance premiums, latest figures suggest.
According to Confused.com’s Q2 2017 car insurance price index, average premiums have risen to £847 – £11 short of the highest ever price seen in Q2 2011.
The firm added that the Government’s decision to cut the personal injury Discount Rate – the so-called Ogden rate – and Insurance Premium Tax increases have caused premiums to rise by almost £100 in just four months.
Meanwhile the ABI has warned that drivers in nearly all age groups are paying record amounts for their car insurance and could face further increases unless the Government takes action to reduce claims costs. The most recent ABI motor premium tracker for Q1 this year shows the average premium paid at £462, up by 8% since Q1 2016.
In response, ABI director general, Huw Evans, called on the Government to deliver a fairer system for setting the personal injury Discount Rate, adding: “We’re pleased the Government are going to bring forward a Civil Liability Bill to reform whiplash style personal injury compensation, but the benefits could be wiped out if they don’t defuse the Discount Rate bombshell.”
Fleet values down in June as overall values rise
The year-on-year average selling price of ex-fleet cars fell slightly in June at Manheim following last month’s increase.
The firm recorded a 5.4% overall decrease from June 2016 to £9,697. Sold volumes fell slightly from last month, despite maintaining a year-on-year growth of 19.9%.
In contrast, the overall average selling price rose to £6,114, up 5.2% from last year, with average mileage of 60,077, similar to last month, but down 5.3% from June 2016. Sold volumes showed a year-on-year increase of 3.9% but were down 6% compared to May.