Category: Finance

Industry mourns passing of ‘true gentleman’

The UK vehicle repair industry is mourning the loss of dedicated apprentice pioneer, Bob Linwood who sadly passed away on Wednesday 17 January 2024.

Bob was a driving force behind the founding of industry apprenticeship initiative Autoraise in 2015, a year later securing its recognition from the Charity Commission as a Charitable Incorporated Organisation (CIO). Bob was CEO of Autoraise until May 2021.

Dane Loosley, another industry stalwart, has also passed this week.

ILC and ARC360 would like to wish our condolences to both Bob and Dane’s families.

Steer secures Oakley investment

Steer Automotive Group has announced substantial new investment from Oakley Capital, a leading pan-European private equity investor.

Oakley will acquire the shares held by Keyhaven Capital Partners and Chiltern Capital while founder Richard Steer and the current management team will continue to lead the business.

Shortlist for What Car? Safety Awards revealed

Thatcham Research has announced the five-car shortlist for the What Car? Safety Award 2024.

Selected by judges based on Euro NCAP test scores as well as passive and active safety technology, the shortlist includes the BMW 5 Series, BYD SEAL, Lexus RZ, Mercedes EQE SUV, and Volkswagen ID.7.

Car insurance premiums soar by 58%

Average car insurance premiums rose by 58% in the last 12 months to £995.

According to the latest Confused.com Car Insurance Price Index, produced in association with WTW, the 58% rise represents an increase of £366 and means premiums have risen for nine consecutive quarters.

White shades black in colour charts

BASF has identified a significant colour shift in car popularity, with white still number one but experiencing a notable decrease in market share.

Meanwhile, its 2023 BASF Colour Report revealed that chromatic colours such as red, blue, brown and beige have remained stable, with a 19% market share.

S&G backs school racing team

S&G is sponsoring Exhausted Racing at Wilmslow High School, helping the team to design, create, market, and race in regional, national and international inter-school competitions.

EV repair costs edge above £3k

Gecko data has revealed that average BEV repairs costs have risen to £3,012, with labour costs at £628 and repair times stretching to 27 days.

Meanwhile, it found there were 968,528 BEVs on UK roads at the end of December.

Innovation tackles deepening pothole problem

Nearly 630,000 potholes were reported across the UK from January to November last year, costing drivers upwards of £500m in repairs.

However, innovation such as self-healing roads and digital maps could soon be available to tackle the issue.

NBRA confirms Greener Bodyshop Awards date

The National Body Repair Association (NBRA) has announced that the 2024 Greener Body Shop Awards (GBSA) will take place at the Coventry Building Society Arena on 10 September.

The awards recognise the businesses that have made great strides towards sustainability and introducing greener initiatives.

London traffic worst in the world

London traffic is the slowest in the world, according to a new report published by TomTom.

Its annual traffic index revealed that average speeds decreased in 228 of the 387 cities it analysed, with a typical 10k drive in London now taking 37 minutes and 20 seconds.

BenBus on the road

Automotive industry charity Ben has unveiled its new BenBus, a branded VW Transporter campervan which will raise awareness of the support it offers to those who have worked or are working in the sector.

The Ben on the road team will be visiting sites around the UK to showcase the van and promote the charity’s services.

Avant unveils new logo and website

Avant Consult has continued a major rebrand by unveiling its new logo and updated and upgraded website.

Stellantis announces updated EV training

Stellantis has announced that delegates can now book their places on the IMI-accredited Morelli Eyebox Training Centre Courses.

Modules include Introductory Awareness Courses designed for customer service teams, drivers, and non-production staff, as well as advanced Electric/Hybrid Vehicle Awareness Levels 1 & 3 courses.

Auto Windscreens signs digital deal with AA

Auto Windscreens has signed a digital claims partnership with The AA, enabling customers to arrange a glass repair or replacement online or via The AA’s app.

Dedicated AFV course set for February

Park Lodge International and Jeff Mack Consultancy will host its next safety course around Alternative Fuelled Vehicles on 6 February.

The eight-hour, IMI-accredited course will take place in Burnley, focusing on three key areas around AFVs: on-scene assessment of battery damage and potential risks; the safe repair of AFVs with high voltage battery damage; the safe storage of damaged AFVs at repair sites.

Tesla defends Autopilot safety standards

Tesla has hit back at media reports critical of its Autopilot technology, arguing that many of the articles lacked context.

It said that data proved its cars were far safer when Autopilot was engaged, revealing that just one crash for every 4.85 million miles was recorded under Autopilot in the fourth quarter of 2022, compared to one crash for every 1.4 million miles driven without it.

Ford launches new gen cruise control

Ford has introduced new generation Adaptive Cruise Control technology to its best-selling Kuga SUV. The system is now able to apply the brakes automatically for curves, junctions and other traffic.

Stellantis signs with SIXT

Stellantis has signed a multi-billion-pound deal with SIXT which could see the mobility service provider buy up to 250,000 Stellantis vehicles in the next three years.

Meanwhile, the manufacturer is investing in Tiamat to support the further development and commercialisation of sodium-ion battery technology.

Hyundai announces Ohme partnership

Hyundai Motor UK has announced a new partnership with smart home charging business Ohme as it continues to develop its elecrification strategy.

Bodyshop briefs

• Fix Auto UK has announced that K&R Coachworks has joined its network and will now operate as Fix Auto St Albans.

• Croydon-based Kudos Bodyworks has become an NBRA member.

• Coachworks Renovations has taken another step towards sustainability by buying zero carbon electricity.

• Custom Coachworks has cut the ribbon on a third bodyshop, situated in Burgess Hill.

• Evolution Repair Group has signed an agreement with Accident Credit Group to support further growth.

• Summers Accident Repair Centre in Ashford has been appointed as a Lotus approved bodyshop.

• Walton Accident Repair has secured manufacturer approval from Toyota and Lexus.

• Ipswich Accident Repair Centre has been awarded an Enterprise Customer Service Award, achieving a World Class Quarterly Net Promoter score for Customer Repair. 

Red Sea instability causing knock-on effects

The NBRA has warned of increased parts supply disruption and rising costs within the UK repair sector as a result of instability in the Red Sea.

ARC360 Partner, Prasco UK has said its customers are unlikely to be affected by the situation even though the Doncaster-based parts supplier is experiencing rising shipping costs and up to a two-week delay in receiving goods because of the escalating problems. 

Repair costs creep up in December

Average repair costs rose to over £2,900 in December, a six per cent increase on the same month in 2022, according to data released by Trend Tracker.

It found that with the Christmas break, the number of repairs in the month fell from November tracking at 97% of the total number of repairs in December 2022.

Tech challenge

New technology presents the greatest opportunity to the industry, according to an ARC360 exclusive interview with Ben Routh, Apprentice Repair Technician, Activate Accident Repair, Leeds.

Entegral unveils Bodyshop 360

Entegral has released Bodyshop 360, a mobile app that enables bodyshops to leverage their own data to make quicker and better decisions.

Copart continues expansion

Vehicle remarketing and recycling specialist Copart has announced two significant developments with expansion of its Sandtoft ‘Super Centre’ and its new Operation Centre in St Helens.

Sandtoft sees the acquisition of an ex-IAA/Synetiq site of 20 acres which adjoins the 65 acres of land added recently, creating the largest Copart ‘Super Centre’ in the UK.

Meanwhile, capacity in the North West has increased by 50% with a new 16-acre Operation Centre in St Helens.

Warning signs despite strong sales

EY UK & Ireland Automotive Leader David Borland has warned of difficult times ahead for EV sales. The new car market increased by 9.8% in December while LCVs sales surged by 36% in the month, but BEV sales slowed in both November and December.

Meanwhile, rental firm Hertz is selling about 20,000 EVs from its US fleet due to falling demand.

BASF signs EV battery deal with Stena

BASF has signed a black mass purchase agreement with Stena Recycling as part of a broader collaboration to develop electric vehicle battery recycling solutions.

Mirka delivers top tier sanding solutions

Mirka has underscored its status as quality supplier of sanding solutions to Tier 1 suppliers of automotive industry. Tier 1 suppliers deliver body parts which match the quality and surface perfection of the complete vehicle.

SYNETIQ announces new EV battery partnership

SYNETIQ is collaborating with clean-tech innovator Allye Energy to focus on the sustainable transformation of end-of-life EV batteries.

The partnership will focus on repurposing battery packs for MAX Battery Energy Storage System (BESS), which SYNETIQ will provide through its many industry agreements.

FCA takes immediate motor finance measures

The Financial Conduct Authority is conducting a review of historical motor finance commission arrangements and sales as a result of rising customer complaints.

It has paused the eight-week deadline for motor finance firms to provide a final response to relevant customer complaints for 37 weeks, while customers will also have 15 months to refer complaints to the Financial Ombudsman rather than six months.

Indasa unveils new mixing system

Indasa Abrasives has launched a new two-part Mixing System which helps technicians maximise productivity by mixing and applying paint more easily.

Positive outlook for sales

Cox Automotive Europe is predicting that new vehicle registrations this year will grow 6.1% to 2.02 million units, while used car sales will surge to nearly 7,4 million.

Innovations in the pipeline

Business Development Manager at GT Motive Steven Hames is predicting a wave of new cloud-based innovations this year, based on customer feedback and requests.

Autoglass joins YPO framework

Autoglass has enhanced its sustainability credentials by joining the YPO Vehicle Glass Repair and Replacement Framework.

This comes after several green initiatives, such as opening three solar-panelled modulars that operate entirely off-grid, operating a repair-first strategy where possible, and recycling 100% of the glass waste it generates.

Storm celebrates ISO 9001 certification

Storm Auto Services has announced it has secured the management standard ISO 9001, which is required by many insurers.

IMI identifies key skills drivers

The IMI had identified the key issues that will drive a fresh focus on skills in the sector.

Its report, Driving Auto Forwards, believes increased manufacturing, a growing focus on diversity and sustainability, and new technology in vehicles will demand new skills.

ACG expands NBRA partnership

Accident Credit Group has announced it will be a Gold Supplier Partner to the NBRA in 2024.

As part of the agreement, ACG will work closely with the NBRA to deliver support and funding solutions to its members.

Ben highlights coaching support

Automotive charity Ben is highlighting how it can support colleagues in the industry make positive changes to their lives this year.

Its Coaching Service is available to anyone who is working or has worked in the automotive industry, and can support individuals in their careers, boost their confidence and even improve their lifestyle with better eating habits, self-care and work-life balance.

Bumper growth

Car servicing platform Bumper has secured £37m Series B funding to drive further growth. Supported by investors such as Autotech Ventures, Shell Ventures, JLR’s InMotion Ventures, Porsche Ventures and Revo Capital, Bumper has doubled in size every year since 2020 and now services more than 5,000 dealers.

Stellantis updates carbon footprint plan

The Stellantis Multi Brand Accident Repair Programme has worked with ECA Business Energy to update its PAS 2060 carbon footprint and management plan. It will now purchase carbon credits through the Net Zero Group this year.

Volvo unveils new sustainability targets

As part of its new sustainability ambitions, Volvo Cars has announced that by 2030 it plans to reduce its CO2 emissions per car by 75%, achieve 30% average recycled content across its fleet, and reduce water use in its operations by 50%.

People

• Andy Hamilton has started his new position as President and Executive Managing Director of LKQ Europe.

• Gary Smith has returned to Europcar Mobility Group UK & Ireland as Managing Director, a position he held from 2016 to 2020.