EV market realigning after price collapse
The crash in value of electric vehicles has been startling but it will not continue as the perfect storm that saw prices plummet by as much as 40% begins to pass.
This is according to Derren Martin, Director of Valuations at cap hpi, who said the rare circumstances that converged to disrupt the EV market are now easing.
He was speaking during ARC360’s specialist EV event, EV-olution; Gaining Ground Together, which was held at the Manufacturing Technology Centre, Coventry this week.
Steer Group acquires Apollo and Balgores
Steer Automotive Group has accelerated its growth plans by acquiring the combined businesses of Apollo Motor Group and Balgores Motors.
The two businesses total 32 repair locations, £90m turnover and 700 staff.
Apprenticeship Central launches new engagement service
Apprenticeship Central, the apprentice recruitment and retention specialist serving the automotive aftermarket, has launched ENSURE, a unique safeguarding service for businesses who employ apprentices.
A Wiser approach to training
In the latest ILC podcast, Crescens George, CEO of Wiser Academy, shares his passion for training and development and discusses how best to recognise and nurture talent.
Steering the future with more jobs
Steer Automotive Group has been recognised for creating jobs in the automotive sector by being included in the 2023 E2E Job Creation 100 Track.
New car market up by a quarter
The new car market surged by more than a quarter in June, making it the 11th straight month of growth.
According to the Society of Motor Manufacturers and Traders, 177,266 vehicles were registered in the month, meaning almost a million (949,720) new cars joined UK roads in the first six months of 2023, with total registrations up 18.4%
Thatcham Research calls for EV collaboration
Repairs of electric vehicles are about 25% more expensive than ICE equivalents and take 14% longer.
This is according to a report, The Impact of BEV Adoption on the Repair and Insurance Sectors, produced by Thatcham Research and funded by Innovate UK.
Gemini ARC celebrates apprentice success
Gemini ARC has recognised the successes of its rising stars at the company’s third annual apprenticeship awards held at the Manufacturing Technology Centre near Coventry.
The repair group has a proud history of supporting apprentices and has recently celebrated becoming an IMI Approved Centre.
Top award for Kinnell
Michael Kinnell, Manager at Stewart Roden Motors Bodyshop, has been named Stellantis Audatex Estimator of the Year, Northern Region.
Brand approval for Fix Auto Leicester
Fix Auto Leicester has announced it has become an approved Toyota and Lexus repairer.
Winn winning with exceptional growth
North East-based Winn Group is planning to grow its workforce from 500 to 700 in the next 12-18 months.
The company offers integrated accident management services and has seen turnover increase by 139% in a year.
Gemini achieves IMI Approved Centre Status
Gemini has secured ‘Approved Centre’ status from the IMI, paving the way for the repair group to create its own training development, qualifications and CPD programmes.
This follows several months of collaboration to ensure Gemini’s training standards meet IMI-approved levels.
The IMI renews British Motor Show partnership
The Institute of the Motor Industry (IMI) has renewed its partnership with the British Motor Show.
It will sponsor an all-new Tech Hub at the 2023 show, which will feature replica service bays to showcase new repair technologies and promote careers within the industry.
Ford ends production of top-selling model
Ford is ending production of its top-selling Fiesta model, with its place on the factory line taken by the new electric Explorer SUV. This is part of Ford’s $2bn transition to an all-electric future.
CMA says competition failing among fuel providers
The Competition and Markets Authority has said ‘something needs to change swiftly’ to restore fuel price competition in the market.
In a new report, it says the industry needs ‘to be held to account’ after retailers rose prices sharply but were slow to reduce them again.
People
Executive director of the National Body Repair Association (NBRA) Chris Weeks will replace Anthony Heard as managing director of Braintree Motor Group (BMG).
Nikki Nagra has joined the claims and cash collection operations team at Edam Group
Andy Gratton has been promoted to Managing Director at Ring Automotive,
Allianz UK has appointed Benjamin Turner as Chief Information Officer.
Volkswagen Commercial Vehicles has appointed Tom Macintyre as Head of Direct Sales in the UK.
