Market Intelligence update
Take a look at our updated regular Market Intelligence report now including more detailed analysis as well as commentary from Paul Sell, Associate Director at Trend Tracker.
DfT data signals changing patterns
Motor vehicle use in Great Britain is back to an average of 100% for July according to Department for Transport (DfT) statistics but the make-up of this figure continues to highlight changing travel patterns.
‘All motor vehicles’ produced an average use figure of 100% for July according to the data but use continued to be greater over the weekends with an average figure of 107% during the month.
BASF and Porsche partner on EV battery development
BASF has been selected by Cellforce Group, a joint venture between Porsche and Customcells, as the exclusive cell development partner for its next generation lithium-ion battery.
As part of the collaboration, BASF will provide high-energy HEDTM NCM cathode active materials to contribute to high-performance battery cells for fast charging and high energy density. Cellforce Group, based in Tübingen, Germany, will produce the high-performing battery.
Its battery production plant is expected to start operations in 2024 with an initial capacity of at least 100MWh per year, powering 1,000 motorsport and high-performance vehicles.
Motofix commits to Thatcham Research’s ecademy
Motofix Group has become the first repairer committed to Thatcham Research’s ecademy enabling all team members to develop their knowledge and awareness of changes in vehicle repair.
Following a rigorous survey of every team member’s knowledge of current processes and methods, Motofix identified an opportunity to create a much wider awareness of modern repair techniques across the business.
Richard Tutt, Motofix Group CEO said, “I felt it was critical that everyone in the business had a good understanding of what was involved in repairing vehicles fitted with the latest advanced technologies, including ADAS and EV.”
AutoRaise introduces a virtual view
AutoRaise, with the help of Venue View, has introduced a virtual bodyshop tour designed to offer young people an insight into the inner workings of a repair operation.
Working with apprentices from its Affiliated Repairer Network the tour showcases some of the daily tasks an apprentice does and goes a long way in demonstrating the diversity involved in the vehicle repair industry with the aim of attracting more young people to it.
IM acquires Colt’s aftersales business
International Motors Ltd, a part of IM Group, has agreed to purchase The Colt Car Company’s aftersales business effective 1 October 2021.
The new subsidiary of International Motors will be called IM MAPS (UK) Ltd but will continue to trade, as it has done for many years, under the Mitsubishi Motors in the UK banner.
International Motors, which was established in 1976, is currently the official UK importer for Subaru and Isuzu vehicles and the addition of the Mitsubishi Motors in the UK aftersales business represents an opportunity to grow its parts and accessories operation.
Copart continues ‘First Response’ growth
Copart’s dedicated ‘First Response’ Contact Centre in the North-East has seen continued growth over the past year now employing 40 full time advisors.
Supported by continual investment into the latest technology and digital solutions, the high-performing team has a strong focus on building and maintaining relationships with bodyshop and recovery operators.
Meanwhile, Copart has raised £5,000 for Ben Automotive Charity following its 3 Peaks Challenge which saw Team Copart scale the three highest peaks in Scotland, England, and Wales.
US: Tractable launches AI Subro
Tractable has launched AI Subro, a new solution designed to help US auto insurers resolve subrogation tasks with AI.
AI Subro digitises and accelerates many of the tasks involved in subrogation – the process by which insurers legally pursue third parties that have caused losses to the insured.
James Spears, Head of Automotive at Tractable, said: “Subrogation is a critical part of the insurance process, but today it is often opaque, time consuming, and labour intensive – making it difficult to get right. Leaders across the industry tell us they are desperate to find a better way forward.”
Flock secures $17m backing
Flock has raised $17M in a Series A funding round to reinvent insurance for connected vehicles.
The round was led by Social Capital, the Californian investment firm run by Chamath Palihapitiya, a renowned tech investor, Chairman of Virgin Galactic, and an early backer of Slack, Tesla, and Bitcoin. Existing investors Anthemis and Dig Ventures also participated.
Flock said the funding marks a major milestone as its builds a global, fully digital insurance company for connected and autonomous vehicles.
Save the date…
ARC360 – Back to the Future – sees a welcome return to physical events on Thursday 25 November at the British Motor Museum, Warwickshire.
Offering an event experience to remember – including plenty of exciting ARC360 initiatives – the day will focus on just what the past means for the future of the industry.
