Industry news

carwow strengthens senior leadership team

4 May | People moves

Online car marketplace carwow has expanded its UK senior leadership team as it pursues a new phase of growth and enhances the services it provides to motor retailers and OEMs, the company said in a press release. Sepi Arani has become the company's new UK commercial director; Ajit Sathianathan joins as the new director of data & analysis; Meghan Sinclair joins as the company’s new brand and communications director; and Grace Pluvinage has been appointed as new car general manager.

James Hind, CEO at carwow, said: “These new appointments are crucial for our efforts to better support dealers and OEMs as they adapt to omnichannel sales and accelerate the shift towards vehicle electrification.”

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10 May | ESG

Car finance marketplace Zuto earns B Corp certification

Manchester-based fintech Zuto has gained B Corp status, joining a growing movement of companies using business as a force for good, the company said in a press release.

Zuto, which operates an online platform that matches motor finance customers with the lenders, joins a line-up of over 4,000 certified B Corporations across the globe, including Patagonia, Innocent and We Transfer.

The company said it is focused on creating a positive environment for employees by fostering a culture of equality and sustainability, citing that 43% of Zuto’s management team identify as women – more than double the average number of female executives at other fintech firms (19%).

The company said its technology aims to eliminate any confusion surrounding whether a customer is approved for finance, what APR they will be offered, how much they can borrow, or which selection of lenders customers will be offered.

9 May | Technology

40% of UK motorists rely on a satnav when driving: survey

Car finance providers Zuto has conducted research to uncover the nation’s habits when it comes to directions and reliance on satnavs. With 92% of those surveyed admitting to using a satnav on some occasion when driving, it’s clear that we’ve put our map reading skills to one side, the company said in a press release.

From uncovering which gender and age groups are most likely to rely on a satnav and maps to find locations, Zuto highlights how much we turn to this technology as a nation.

The research found that male drivers are more reliant on the technology than women, as one in seven (13%) of male drivers use a sat nav every time they drive, in comparison to only one in 12 female drivers (8%).

However, when driving to a new destination, one in three female drivers (30%) feel nervous, in comparison to just one in ten (9%) male drivers in the same situation, prompting use of satnav technology.

11 May | Fraud prevention

NaVCIS partnership looks to bolster fraud prevention

Synectics Solutions, a provider of IT to detect and prevent fraud and wider economic crime, has partnered with the National Vehicle Crime Intelligence Service (NaVCIS) to help the finance and insurance industries guard against fraud and support efforts to tackle organised crime that harms communities.

NaVCIS investigations help identify those suspected of fraud or vehicle-related criminal activity, the evidence, intelligence and supporting analytical work is passed to police colleagues for further action.

As part of its role as a national policing unit that bridges the gap between policing and industry, NaVCIS issues intelligence alerts regarding ongoing investigations to Finance and Leasing Association (FLA) members who are registered for the service, along with law enforcement agencies and authorised stakeholders.

In using this intelligence, financiers can more easily recognise incidents of ID theft and prevent finance from being taken out fraudulently – depriving criminals access to vehicles.

13 May | People moves

Mark Hankey joins Aston Barclay as CRO

Aston Barclay has announced the appointment of Mark Hankey to the position of Chief Revenue Officer as the auction group continues its growth trajectory following the Covid-19 pandemic, the company said.

Hankey has spent 30 years working in the remarketing industry in the UK and Europe alongside stints in Australia and New Zealand.

He will head up Aston Barclay’s sales team that includes head of business development Nick Franklin and head of vehicle sales Gordon Cockle.

Hankey will also play an active role in helping Aston Barclay look after its existing customers which have grown in number over the past two years.

“We have invested in Mark as he is one of the most highly experienced remarketing sales directors in the industry at a time of ambitious growth for our business,” said Martin Potter, Aston Barclay’s Chief Customer Officer.

11 May | Dealerships

RAC embarks on a dealer recruitment drive

The RAC Dealer Network is embarking on a dealer recruitment drive following increasing consumer demand that drove a 25% year-on-year growth in revenues from warranty premiums during 2021.

Sean Kent, European Director of Automotive for Assurant, which partners with the RAC in the warranty and aftersales market, said that the results were also 9% up on 2019, showing a marked increase compared to pre-Covid conditions, despite various lockdown periods leading to interruptions in business.

“The total number of used car retailers in the RAC Dealer Network now numbers more than 1,300 and we’re looking to add around 200 during the first half of this year.

“Our target remains the same – to work with dealers who both share the RAC’s ethos of placing the customer first and are committed to being good ambassadors for the brand.”

5 May | Technology

Remarketing sector set to embrace connected vehicle tech: epyx

The remarketing sector is poised to embrace new solutions around connected vehicle data, according to epyx.

Debbie Fox, commercial director of the provider of fleet management technology, said epyx has been involved in several encouraging conversations throughout the sector – ranging from vehicle leasing specialists to dealer groups – regarding the possibilities of accessing data through connected vehicles.

“The huge advantage for the used car and van sector is that information covering key lifecycle events that potentially affect the vehicle’s value can be drawn directly from the car and van, and built up over time, without the need for a telematics-style ‘black box.’

“For example, connected vehicle technology makes mileage tampering – or ‘clocking’ nearly impossible because the mileage of a vehicle can be continuously monitored and any major discrepancies will be plainly obvious.

5 May | Public policy

Plans to double MOT test intervals ‘irresponsible’: FleetCheck

Widely reported government plans to double MOT test intervals to two years are “irresponsible” and coincides when fleets are lengthening replacement cycles, says FleetCheck.

Peter Golding, managing director of the fleet management software company, points out that company cars and vans often cover 20-30,000 miles in a year and the MOT test acts as a valuable backstop to ensure maintenance standards are enforced.

He said: “In my previous life, I owned and managed commercial garage workshops and it is no exaggeration to say that I have seen hundreds of unsafe vehicles kept off the road by the annual MOT test.

“A lot of degradation of a vehicle can and does happen in a year between MOTs and the idea that it is safe to double this time to protect motorists from rising costs is a falsehood that can only compromise road safety."

In brief

MotoNovo launches women’s network

Generating Real Opportunities for Women, or GROW, is an all-new network created by MotoNovo Finance to support dealer and broker partners to increase female representation at all levels across motor retailing, launched on 6 April.

‘Significant hurdles remain if UK is to meet Net Zero targets’: BVRLA

BVRLA director of corporate affairs, Toby Poston, said about the Charging the Future report: “Significant hurdles remain if the UK is to meet its Net Zero targets, and this report sets out some key strategies that we can use in collectively overcoming them.

Road to affordable EVs is paved with unknown battery costs: GlobalData

A collaboration between global automakers GM and Honda to develop affordable electric vehicles (EVs) will face significant cost challenges to bring their plans to fruition, according to analytics and business information company GlobalData.

Automakers earmark almost US$600bn for EVs over next decade

Aggressive emission and carbon neutrality targets set by regulators worldwide will see a faster transition to next-gen electric vehicle (EV) manufacturers, prompting global automakers to commit to operational investments of nearly US$600bn to secure their position in the market, according to GlobalData.

Auto Trader makes inroads into leasing with £200m Vanarama deal

The UK’s largest automotive marketplace, Auto Trader, has signalled its intention to cash in on the growing demand for leasing with the purchase of Vanarama, from parent Autorama, in a deal worth up to £200m.