It was reported by Cap HPI, that prices have slid by 1.9% in May. Black Book Live reported an average downward movement of 1.9% at 3-years, 60,000 miles in May, with values overall having dropped by 5% since the start of the year.
On the 22nd January this year I put out a blog about high registrations and the effect this is going to have on the market and in particular the grappling effects this has with Contract Hire companies as they try to anticipate the second hand market. After all, Lease companies are the main contributor to the second hand vehicle market.
As we know, the government are continuing with their current strategy of taxing our company car drivers with a system that uses the Co2 and list price of the vehicle. As the % increases against the Co2 and the manufacturers increase the list price the company car benefit in kind tax regime becomes more and more expensive for the driver and the company.
HMRC has published its latest advisory fuel rates (AFRs) to take effect from March 1. Petrol rates have been reduced by one pence per mile across the board, while diesel rates have been reduced by one pence per mile for vehicles up to 2000cc, with payments for vehicles with capacity above this reducing by two pence per litre.
With the fairly recent introduction of ‘Corporate Social Responsibility’, the subject of business ethics is on everybody’s lips these days. Sadly, more often than not, this is mostly in the form of lip service. Many companies are guilty of having their marketing department create some slick CSR statement,
The more registrations we have the higher the stock volumes will be within the auction houses some 38 – 44 months later. So we have over the last couple of years seen high registrations especially within the LCV market. There seems to be no let-up either at the moment so with records surpassing the numbers registered prior to the downturn you have to question what will happen when all these vehicles come to market?
What hot topics do you think is worthy of note and what changes will happen within 2016 in the fleet industry? Well we can be certain of one thing, nothing will standstill. As a regular Linked in member and one that has constant dialogue with various friends and colleagues within the fleet sector people will change roles, manufacturers will continue to bring out new vehicles, we will still have the same pressures to make targets and income.
When I started PVS Ltd it was a daunting task to get the company up and running and then attract customers that would see the benefit in using someone like us to support their fleet requirements. Well I am pleased that we now end 2015 with 5 contracts signed, been able to achieve in excess of 1000% Return on investment for our customers and they continue to use us following the initial review.
As we are now well into the festive season and we have seen all the news about police checking those that drink and drive in the evening and again in the morning. It is the later that we could all fall into the same thought process that we are fine to drive. When you are thinking about this in the following morning, just consider the impact of not being able to drive will have on your job and then your family!
As we started this week we were aware of the tax liabilities for our fleets for a number of years and all thinking that both the BIK and NIC changes for those that pick diesel as a preferred vehicle given the MPG, low Co2 the improvement from April 2016 when the 3% surcharge was supposed to be scrapped would have been welcomed by the employee and the employer.
In my Blogs I usually am referring to how the weeks have gone and how time flies. Well as time has gone by manufacturers are making much better vehicles and some niche vehicles that are being used within the fleet industry such as the Ford Ranger, Mitsubishi L200 and Toyota Hi-lux which are used both within fleet and in the private sector as a SUV.
As the children return to school this week for the last term of 2015 we all know that we have 7 weeks left before we get into that Christmas period where very little in the way of new contracts or sales are achieved. We therefore need to ensure that as we approach this all the sales we have in the funnel are closed out and we get them into implementation stage and start working them through ready for 2016.
As we now go into the middle of October moving ever closer to Christmas festivities you start to wonder where has this year gone although we still do have a good 10 weeks before we break up for the Christmas break I was think the last time I wrote a blog it was a month ago and that has just flown by.