Our Latest Post

IN THE NEWS

Japanese vehicle sales down 22% in December. Japanese vehicle sales had their worst December on record, with demand plunging 22% compared with the same month of 2007. December sales of cars trucks and buses fell to 183,549, according to the Japan Automobile Dealers Association (JADA).

Required Reading

Suggested By Staff

• Footballer’s favourite, the Bentley GT Coupe is depreciating at £500 more per week than it did 12 months ago, reveals HPI, the leading independent vehicle information provider. This means owners will lose over £67,000 in value, which is 56% of its £120,000 new price tag, in the first year. According to HPI’s valuations experts, depreciation on a new Bentley was just £41,000 this time last year, making it a 22% increase and offers consumers a list of cars worst hit by residual value. “The used car market offers a reflection of the state of the economy,” explains HPI Valuations authority Martin Keighley. “When the good times roll, the luxury models get snapped up. However, in lean times prestige models flood the market and values begin to plummet. “Over recent years, many luxury and sports cars such as Bentley, Aston Martin and Lamborghini have been bought on the back of the flourishing economy, by those with huge city bonuses or Premiership wages. However, now we are seeing large numbers of these 1-3 year old vehicles struggling to find buyers in a difficult market. With consumers lacking confidence or simply unable to get the finance deals that were once open to them, these boom models are around in much higher numbers, thus values are taking a huge hit. “Looking ahead, the huge rate of depreciation means the more affluent consumers will change they way they shop. Luxury models such as Ferrari and Porsche used to have bullet proof residuals, but with consumer confidence at an all time low these once secure purchase items will not seem so attractive. Buyers are going to be looking at how well a vehicle holds its value before splashing out, which doesn’t bode well for high end models.” HPI’s BOOM TO BUST RESIDUAL VALUES SWINGERS Bentley Continental GT Coupe Porsche Boxster, 911, Cayenne Audi A4 Cabriolet, A8, TT, A6, Q7 Saab Convertibles BMW Z4, X5, X3, M3, 5 Series, 7 Series Volvo V70, XC90 Mercedes ML, SL, CLK, SLK VW Toureg Aston Martins Lamborghinis Ferraris #
• Back ends of buses become speed traps Drivers will soon have little excuse for speeding as the back ends of buses are to be fitted with signs that flash if the car behind is driving too fast or tailgating, according to green breakdown provider, the Environmental Transport Association (ETA). The Stagecoach buses will use the 'Tailguardian' system to establish whether the vehicle behind is breaking the 'two-second distance rule' and if they are too close, an illuminated sign reminds them of the speed limit on that particular road. Director at the ETA, Andrew Davis said: "Overtaking large vehicles can be treacherous, so the back end of a bus is an ideal place to remind drivers if they are speeding or tailgating." #
• Ford Focus or Ford Transit Connect? That's the choice available to engineers working for alarm and CCTV installer John Moore Security as the company updates the fleet of 30 Focus estates its engineers have used for the past three years. As a result of the new policy, 12 Ford Transit Connects are being added to the fleet, as well as 12 Ford Focus replacement cars. “The original arrangement to use Ford was definitely a good deal for us,” says managing director John Moore. His Hull-based company supplies electronic security systems, including intruder and fire alarms and CCTV, to Yorkshire and Humberside businesses, and employs 65 staff. “We wanted to stay with Ford, but to give our installation and service engineers the choice between Focus estates and Connects,” says John. “The Ford van offered reasonable value compared with others and had more space.” “Some drivers who have their own private cars opted for vans for the tax reductions, and because we’re now installing more CCTV systems than intruder alarms, this also enables them to carry bulky loads in a single site visit when required.” The short-wheelbase Ford Transit Connect L200 90 PS diesel vans, like the Ford Focus 1.6-litre LX TDCi estate cars, are fitted with roof-bars for ladders, and finished in black with the company's distinctive new livery. The vehicles, supplied by car and commercial vehicle specialist Automotive Finance & Leasing (AFL) Ltd of Harrogate, will average 25,000 miles a year over their three-year contract periods. The company reported four per cent savings on its fuel bills when it started using the Focus estates, and will make further savings with the Connect and the new Focus. AFL managing director Martin Buck adds: “John’s choice of Ford Focus and Transit Connect diesel was based on economics and trust, with reliability and low whole-life costs being prime considerations and, of course, Ford is a trusted brand. “The company considered two brands in reviewing the fleet, but the Focus and Transit Connect came out top on all counts.” #
• The Road Haulage Association has written to the Office of Fair Trading asking them to enquire into why diesel fuel prices remain at a premium above those of petrol. "We were told earlier this year that the reason diesel prices were then some 14 or 15 pence per litre more than the equivalent petrol price was due to world demand and a shortage of refining capacity", said RHA Chief Executive Roger King. "Perhaps this was understandable when oil prices reached $143 per barrel but now that we are talking $50 or so dollars per barrel, it must be because demand has reduced as a result of a slow-down in global activity. "Our question to the OFT and to the oil producers is why this hasn't been reflected in the diesel premium we are still paying? The UK haulage fleet alone is not doing the mileage it was earlier this year and many of our members have confirmed that they have 'mothballed' trucks as the recession reduces economic activity. "So why haven't diesel prices come down to their traditional parity level with petrol? We believe that the OFT should ask some searching questions and we have asked them to do just that." #
• Aston Martin Statement. Aston Martin and its Trade Union partners have today begun consultation on a range of cutbacks to reflect the current downturn in the world economy and the corresponding fall in car sales. It is hoped to do this by minimising the impact on employees as far as possible, but the possibility of up to 300 permanent and a similar number of temporary job losses cannot be ruled out. Aston Martin Chief Executive Officer, Dr Ulrich Bez said: “Like other premium car brands, Aston Martin has been forced to take action to respond to the unprecedented downturn in the global economy. These are regrettable but necessary measures in the extraordinary market conditions we all now face. “Overall we remain confident that the Aston Martin brand is the strongest it has ever been – with dedicated design, engineering and manufacturing facilities and an award-winning product range, we remain well positioned for the upturn in the economy.” #