Stellantis reports record full-year 2023 results

Stellantis N.V. has today reported record full-year 2023 results. Net revenues grew 6% y-o-y to €189.5 billion, net profit rose 11% to €18.6 billion, and industrial free cash flows increased 19% y-o-y to €12.9 billion. Global battery electric vehicles(BEV) sales were reported to be up 21% y-o-y and low emission vehicle (LEV) sales are up 27% y-o-y.

Stellantis reports record full-year 2023 results

Feb 15, 2024

Stellantis N.V. has today reported record full-year 2023 results. Net revenues grew 6% y-o-y to €189.5 billion, net profit rose 11% to €18.6 billion, and industrial free cash flows increased 19% y-o-y to €12.9 billion. Global battery electric vehicles(BEV) sales were reported to be up 21% y-o-y and low emission vehicle (LEV) sales are up 27% y-o-y.

Ayvens reports FY2023 results

Ayvens has reported a 22% fall in pre-tax profit, down from €1.66 billion in FY2022 to €1.29 billion in FY 2023. The global mobility brand, Ayvens, was unveiled in October 2023 following the €4.8bn acquisition of LeasePlan by ALD Automotive. Ayvens reported that commercial activity remained strong, with earning assets up by 14.2% year-on-year to €52.0 billion. Growth was primarily driven by inflation on car prices and the transition to EV.

Ayvens reports FY2023 results

Feb 09, 2024

Ayvens has reported a 22% fall in pre-tax profit, down from €1.66 billion in FY2022 to €1.29 billion in FY 2023. The global mobility brand, Ayvens, was unveiled in October 2023 following the €4.8bn acquisition of LeasePlan by ALD Automotive. Ayvens reported that commercial activity remained strong, with earning assets up by 14.2% year-on-year to €52.0 billion. Growth was primarily driven by inflation on car prices and the transition to EV.

UK reaches million EV milestone as new car market grows

Britain’s millionth battery electric car (BEV) reached the road in January 2024, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), while the new car market grew 8.2% for the month, continuing to be driven by fleet and business sales.

UK reaches million EV milestone as new car market grows

Feb 05, 2024

Britain’s millionth battery electric car (BEV) reached the road in January 2024, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT), while the new car market grew 8.2% for the month, continuing to be driven by fleet and business sales.

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Used EVs prices given a welcome boost as market realigns in Q4, reports Aston Barclay

The shortage of new sub-£25,000 electric cars gave the used EV sector a welcome boost in Q4, according to Aston Barclay. In Q4, used EVs rose in price by 6.4% to £21,707 after five consecutive quarterly price falls and, just as every other, EVs were the only fuel type to experience a price rise in Q4 as demand from buyers for cheaper EV turned to the used market due to restricted new car supplies in this price bracket.

Used EVs prices given a welcome boost as market realigns in Q4, reports Aston Barclay

Jan 24, 2024

The shortage of new sub-£25,000 electric cars gave the used EV sector a welcome boost in Q4, according to Aston Barclay. In Q4, used EVs rose in price by 6.4% to £21,707 after five consecutive quarterly price falls and, just as every other, EVs were the only fuel type to experience a price rise in Q4 as demand from buyers for cheaper EV turned to the used market due to restricted new car supplies in this price bracket.

Price war looms as China readies charge into UK electric car market

Buyers can expect to benefit from a price war in the electric car market in 2024 as manufacturers fight for market share amidst new government mandated targets and new Chinese competitors, according to Auto Trader’s latest (and renamed) Road to 2035 Report.

Price war looms as China readies charge into UK electric car market

Jan 24, 2024

Buyers can expect to benefit from a price war in the electric car market in 2024 as manufacturers fight for market share amidst new government mandated targets and new Chinese competitors, according to Auto Trader’s latest (and renamed) Road to 2035 Report.

moDel sees 1m vehicle handovers in record year

moDel, the vehicle movement solution from Ebbon Automotive, part of Ebbon Group, which is used throughout the motor industry to electronically process vehicle deliveries and collections, has broken through the 1 million vehicle handover barrier for the first time.

moDel sees 1m vehicle handovers in record year

Jan 17, 2024

moDel, the vehicle movement solution from Ebbon Automotive, part of Ebbon Group, which is used throughout the motor industry to electronically process vehicle deliveries and collections, has broken through the 1 million vehicle handover barrier for the first time.

Stellantis signs agreement with rental firm SIXT to deliver 250,000 vehicles

Vehicle rental company SIXT and automaker Stellantis have struck a multi-billion euro agreement under which SIXT could buy up to 250,000 vehicles. The vehicles will be deployed in rental fleets across Europe and North America over the next three years, with deliveries beginning as early as the first quarter of 2024.

Stellantis signs agreement with rental firm SIXT to deliver 250,000 vehicles

Jan 17, 2024

Vehicle rental company SIXT and automaker Stellantis have struck a multi-billion euro agreement under which SIXT could buy up to 250,000 vehicles. The vehicles will be deployed in rental fleets across Europe and North America over the next three years, with deliveries beginning as early as the first quarter of 2024.

Continuing EV sector volatility brings challenges for the used car market in 2024

Cox Automotive anticipates challenges and continued volatility in 2024 for the used EV market despite rapid growth in used vehicle volumes, due to persistently low consumer demand. Several continuing trends, including the realignment of vehicle values, supply shortages, economic uncertainty, and continuing EV market volatility, are likely to underpin those complexities.

Continuing EV sector volatility brings challenges for the used car market in 2024

Jan 17, 2024

Cox Automotive anticipates challenges and continued volatility in 2024 for the used EV market despite rapid growth in used vehicle volumes, due to persistently low consumer demand. Several continuing trends, including the realignment of vehicle values, supply shortages, economic uncertainty, and continuing EV market volatility, are likely to underpin those complexities.

FCA probes motor finance firms’ failure to adhere to commission rules

UPDATED: The Financial Conduct Authority (FCA) has today hit out at car finance companies who have failed to adhere to the rules introduced on discretionary commission arrangements in 2021. In a statement today, the regulator said that it would “review historical motor finance commission arrangements and sales across several firms.”

FCA probes motor finance firms’ failure to adhere to commission rules

Jan 11, 2024

UPDATED: The Financial Conduct Authority (FCA) has today hit out at car finance companies who have failed to adhere to the rules introduced on discretionary commission arrangements in 2021. In a statement today, the regulator said that it would “review historical motor finance commission arrangements and sales across several firms.”

New car market delivers best year since 2019 as fleets fuel growth

The UK new car market has recorded its best year since the pandemic as a strong December, up 9.8%, wrapped up the 17th month of consecutive growth. 1.903 million new cars reached the road during 2023 – an increase of 17.9%, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).

New car market delivers best year since 2019 as fleets fuel growth

Jan 05, 2024

The UK new car market has recorded its best year since the pandemic as a strong December, up 9.8%, wrapped up the 17th month of consecutive growth. 1.903 million new cars reached the road during 2023 – an increase of 17.9%, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).

Global Vans and XLCR join forces to create new van and car leasing giant

Global Vans and XLCR Vehicle Leasing have joined forces to become a ‘super broker’ in the van and car leasing market. Both businesses will continue to have the same management and retain their individual brands and identities.

Global Vans and XLCR join forces to create new van and car leasing giant

Jan 03, 2024

Global Vans and XLCR Vehicle Leasing have joined forces to become a ‘super broker’ in the van and car leasing market. Both businesses will continue to have the same management and retain their individual brands and identities.

Tariffs on electric vehicles avoided as UK and EU extend trade rules

The UK and EU have agreed to extend trade rules on electric vehicles (EVs) until the end of 2026. This agreement facilitates UK-EU tariff-free trade in electric vehicles and prevents 10% tariffs being levied on this trade from January. It is expected that this will save car manufacturers and consumers up to £4.3 billion in additional costs and provide long-term certainty for the  industry and boost electric vehicle sales between the UK and Europe.

Tariffs on electric vehicles avoided as UK and EU extend trade rules

Dec 22, 2023

The UK and EU have agreed to extend trade rules on electric vehicles (EVs) until the end of 2026. This agreement facilitates UK-EU tariff-free trade in electric vehicles and prevents 10% tariffs being levied on this trade from January. It is expected that this will save car manufacturers and consumers up to £4.3 billion in additional costs and provide long-term certainty for the  industry and boost electric vehicle sales between the UK and Europe.

Financial Ombudsman Service moves to introduce fees for claims management companies

Complaints to the Financial Ombudsman Service (FoS) about motor finance more than doubled in the three months to September. The increase was primarily driven by professional representatives, sometimes known as claims management companies. However, the upheld cases emanating from such organisations were particularly low.

Financial Ombudsman Service moves to introduce fees for claims management companies

Dec 21, 2023

Complaints to the Financial Ombudsman Service (FoS) about motor finance more than doubled in the three months to September. The increase was primarily driven by professional representatives, sometimes known as claims management companies. However, the upheld cases emanating from such organisations were particularly low.

SsangYong Motors UK announce new financial partnership with CA Auto Finance

Ssangyong Motors UK has announced a new financial partnership with CA Auto Finance, the UK entity of the international CA Auto Bank group. Following a competitive consultation process, SsangYong selected CA Auto Finance, a leader in vehicle financing, leasing and mobility services, as its new official financial partner.

SsangYong Motors UK announce new financial partnership with CA Auto Finance

Dec 19, 2023

Ssangyong Motors UK has announced a new financial partnership with CA Auto Finance, the UK entity of the international CA Auto Bank group. Following a competitive consultation process, SsangYong selected CA Auto Finance, a leader in vehicle financing, leasing and mobility services, as its new official financial partner.

Cost-of-living growing in concern for motor dealers

The cost-of-living crisis is going to be the biggest challenge for dealers to navigate in 2024, according to Close Brothers Motor Finance’s Forecourt Foresight research. The research, which surveys 200 motor dealers across the UK, found that the cost-of-living crisis is becoming an increasingly prevalent challenge for dealers as it continues to weigh heavily on customer affordability.

Cost-of-living growing in concern for motor dealers

Dec 13, 2023

The cost-of-living crisis is going to be the biggest challenge for dealers to navigate in 2024, according to Close Brothers Motor Finance’s Forecourt Foresight research. The research, which surveys 200 motor dealers across the UK, found that the cost-of-living crisis is becoming an increasingly prevalent challenge for dealers as it continues to weigh heavily on customer affordability.

Stellantis and Ample establish partnership to leverage battery swapping solution

Stellantis and Ample have signed a binding agreement to establish a partnership in electric vehicle (EV) battery charging technology capable of delivering a fully charged electric vehicle battery in less than five minutes. The two partners have agreed to work toward integrating Ample’s Modular Battery Swapping solution in Stellantis electric vehicles.

Stellantis and Ample establish partnership to leverage battery swapping solution

Dec 07, 2023

Stellantis and Ample have signed a binding agreement to establish a partnership in electric vehicle (EV) battery charging technology capable of delivering a fully charged electric vehicle battery in less than five minutes. The two partners have agreed to work toward integrating Ample’s Modular Battery Swapping solution in Stellantis electric vehicles.

UK automotive industry welcomes plan to extend EV trade rules

The UK automotive industry has welcomed the European Commission’s proposal to extend the current ‘rules of origin’ for electric vehicle batteries under the Trade Cooperation Agreement (TCA) until 2027. The tariff exemptions, which were agreed as part of the Brexit deal, were due to end on January 1, 2024.

UK automotive industry welcomes plan to extend EV trade rules

Dec 07, 2023

The UK automotive industry has welcomed the European Commission’s proposal to extend the current ‘rules of origin’ for electric vehicle batteries under the Trade Cooperation Agreement (TCA) until 2027. The tariff exemptions, which were agreed as part of the Brexit deal, were due to end on January 1, 2024.

Fleets fuel new car market registering over 75% of new BEVs

The UK new car market grew by 9.5% in November to reach 156,525 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). In the market’s best November for four years, registrations almost returned to pre-pandemic levels, down just 96 units (-0.1%) on 2019.

Fleets fuel new car market registering over 75% of new BEVs

Dec 05, 2023

The UK new car market grew by 9.5% in November to reach 156,525 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). In the market’s best November for four years, registrations almost returned to pre-pandemic levels, down just 96 units (-0.1%) on 2019.