Category: Insurance

ILC Day 2021!

Today signals ILC’s annual fundraising day for the Rainbow Trust Children’s Charity.

To donate £5 text ILCDAY 5 to 70490, to donate £10 text ILCDAY 10 to 70490 or to donate £20 text ILCDAY 20 to 70490

All donations raised go to Rainbow Trust Children’s Charity to help them continue to support the families with a seriously ill child that they care for, allowing families in unthinkable circumstances to make the most of their precious time together.

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Support shines for National Apprenticeship Week

National Apprenticeship Week has seen a flurry of activity from the sector supporting career opportunities for the future.

Industry charity AutoRaise – which has launched a new website – and the School of Thought project have both received tremendous support from across the sector for their endeavours to attract and retain new talent within the sector.

AW Group, Motofix and RS Motors are just some of the repairer names to have shown their support for the annual event whilst many others including Thatcham Research, Axa and Volvo have all also shown their support.

IMI calls for urgent re-engagement

The Institute of the Motor Industry (IMI) has urged employers to re-engage with apprentice schemes following a 63% drop in apprenticeships for first quarter of the academic year.

Steve Nash, CEO of the IMI explained, “It is hugely disappointing, albeit not very surprising, that automotive was one of the worst hit sectors for apprentice recruitment in 2020. The first quarter of the 2020/21 academic year saw a 63% drop compared to the same period for 2019/20. And this is a concern for a sector that faces one of its biggest challenges in a century as it prepares for the electric vehicle revolution.”

The latest Department for Education data on apprentices released at the end of January shows that there were 1,575 automotive apprenticeships in the first quarter of the 2020/21 academic year (Aug-Oct); 63% lower than the first quarter of the 2019/20 academic year.

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Claims exchange volumes drop -15%

Claims exchange volumes dropped by -15% last week (week ending 6 February) according to CAPS Claims Analysis Report.

Unique claims – those claims initiated and exchanged for the first time within CAPS – reduced from 87% (week ending 30 January) down to 72% (week ending 6 February). At the same time supply chain transmissions – the unique claim plus any additional transmission on the same exchange – dropped by -16%, from 96% (week ending 30 January) to 80% (week ending 6 February).

The fluctuations were the biggest witnessed since the second week in January.

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Used car market down by 14.9% in 2020

The UK’s used car market declined in 2020, down -14.9% according to the Society of Motor Manufacturers and Traders (SMMT).

Data reveals 6,752,959 used car transactions took place, 1,182,146 fewer than in 2019, making 2020 the lowest performing year since 2012 as lockdown measures to tackle the coronavirus pandemic and turbulent consumer and business confidence dented sales.

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Fix and Sherwin partner to develop Future Fixers

Nine apprentices have kick-started The Fix Auto UK 2021 Apprentice Programme powered by Sherwin-Williams Automotive Finishes.

The Fix Auto UK 2021 Apprentices or ‘Future Fixers’ will be provided with all their workwear, computer tablets as well as the relevant tools and equipment required as part of their apprenticeships.

The Fix Auto UK 2021 Apprentice Programme ‘Future Fixers’ will be working at Fix Auto Barnsley; Fix Auto Cheltenham; Fix Auto Felixstowe; Fix Auto Harlow; Fix Auto Liverpool South; Fix Auto Manchester East; Fix Auto Redhill; and Fix Auto Stevenage.

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Copart introduces GO App

Copart has introduced its GO App, allowing automotive customers to list vehicles from their own premises in minutes, and market them to captive Copart buyers around the world.

Once the vehicles are uploaded through the app, they are listed in Copart’s patented, live online auctions – reaching a global membership base in over 115 countries. 

Copart’s GO App is aimed at automotive sellers who do not need to take advantage of Copart’s UK-wide vehicle collection, preparation and storage capabilities, but who want to sell their vehicles rapidly and simply from their premises.

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Cazoo acquires Smart Fleet Solutions

Cazoo, one of the UK’s leading online car retailers, has acquired vehicle reconditioning and storage specialists Smart Fleet Solutions (SFS) for an undisclosed sum.

SFS has a team of over 500 staff operating from four state-of-the-art vehicle refurbishment facilities across 110 acres in Nottinghamshire, Staffordshire, Wiltshire and Scotland, processing over 100,000 vehicles annually with storage for more than 20,000 vehicles.

This deal follows the recent acquisition by Cazoo of car subscription platform, Drover.

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Penske plans used SuperCenter growth

Sytner Group owners Penske Automotive Group plans to open more than 20 Used Vehicle SuperCenters by the end of 2023.

The business which currently operates 17 Used Vehicle SuperCenters in the UK and US, opened its most recent addition in Nottingham – under the CarShop brand – during Q4 2020 and plans to have 40 sites in operation by 2023.

A statement the company said: ‘We expect our used SuperCenters operations will generate at least 150,000 in unit sales and $2.5 to $3.0 billion in total revenue, more than doubling the size of the existing business while generating earnings before taxes of approximately $100 million.’

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