Guide book EurotaxGlass has shook up the LCV market. It has claimed the sector needs to take a more realistic approach to determining values for hard-used vans.
Instead of continuing to benchmark against unrealistically low mileages EurotaxGlass claims most van manufacturers are primarily car-makers, and they typically calculate residual values for commercial vehicles against a three-year, 60,000-mile standard mark.
However, this is a glaring inconsistency, given that the majority of panel vans are doing upwards of 30,000 miles a year, explains George Alexander, Chief Commercial Vehicle Editor at
EurotaxGlass’s.
Alexander said: “The industry yardstick for average mileage falsely favours those less robust products that will survive intact to a modest mileage, but would fare far worse as the 100,000-mile mark approaches. The need is to determine values for hard used vans at the end of a contract and not for the cleanest most popular models, with modest warranted mileage. In the current marketplace, stock which has covered 60,000 miles or less is in great demand and will command strong prices. The danger is that, if an assessment of future residual worth for competing products starts from such a point, there is little chance that stock returning with 90,000 miles or more will have a chance of meeting vendors expectations.”
Simon McBride
Contract hire and leasing news
All the latest news concerning ContractHireAndLeasing.com and the contract hire and leasing industry.
Another year, another Budget, and with a raft of tax reforms and realignments affecting the fleet operator, it’s good to know Audi has measures in place to reduce their impact.
The good news starts with the A3 and A3 Sportback 1.9 TDI Special Edition models, which with their CO2 emissions of just 119g/km, fall into the new 13% tax band for diesels in 2008/9. These models will also be exempt from the London Congestion Charge when the punitive new £25 daily charge comes into force on 27 October.
And those looking to consolidate their exposure to the charge can also take comfort that the A8 2.8 FSI - officially the cleanest luxury car on the market - and the A8 3.0 TDI quattro fall below the 225g/km threshold, incurring only the £8 rate rather than the £25 daily charge from October. An attractive proposition for our chauffeur customers and for those needing to drive in Central London.
Iain Carmichael, Head of Fleet Sales, Audi UK
S line and Avant join A4 range
The new Audi A4 range is strengthening all the time with the addition of the sporting S line trim specification, the introduction of the new A4 Avant, plus a new entry model positioned at under £20,000 ROTR.
Powered by a 120PS version of the 1.8 TFSI engine, the A4 1.8 TFSI Standard model marks the new entry point to the A4 range, priced at £19,900 ROTR and including 16 inch alloy wheels, climate control, a Chorus radio-CD player, ESP and a Thatcham Category 1 alarm/immobiliser.
The more overtly sporting S line trim, which adds £2,500 to the price of the equivalent SE model, introduces equipment including 18 inch alloy wheels, a 3-spoke S line sports steering wheel, S line body styling, 20mm lower S line sports suspension, S line sports seats, Xenon headlights with daytime running lights and matt brushed aluminium inlays.
Adding useful extra practicality and a class-leading load area of 1,430 litres with rear seats folded, the new A4 Avant belies its versatility with its sleek lines.
At just £1,150 more than the equivalent Saloon model, the Avant is available to order now, with prices starting at £23,400 ROTR.
2.0 TDI quattro joins the TT range
Blending the sporting appeal of the Audi TT with the latest in TDI technology, new Euro 5-compliant TT 2.0 TDI quattro Coupe and Roadster models offer a unique opportunity in tax-efficient sports motoring.
The statistics make compelling reading, with the Coupe returning combined consumption of 53.3mpg and CO2 emissions of just 140g/km, a 20% reduction over the 2.0 TFSI. With 170PS, performance is brisk, too, with a top speed of 140mph and 0-62mph in 7.5sec.
Such figures make a drastic reduction in company car tax liability compared with the 2.0 TFSI: a 40% tax payer in 2008/9, for example, can expect to pay £160 a month for the 2.0 TDI Coupe quattro, compared with £200 a month for the 2.0 TFSI.
As well as quattro permanent four-wheel drive, TT 2.0 TDI models come with 17 inch Trapez alloy wheels, leather and Alcantara trim, climate control and an MP3-compatible Audi Concert radio/CD. The Roadster adds a fully automatic soft-top with wind deflector.
Both Coupe and Roadster models are now available to order, priced from £26,350 ROTR for the Coupe and £28,350 ROTR for the Roadster.
Audi TT Coupe lease prices
Audi TT Roadster lease prices
A8 3.0 TDI escapes congestion penalty
A reduction to 224g/km in the CO2 emissions of the Audi A8 3.0 TDI SE quattro and Sport (including Long Wheel Base variants) has ensured these models will not incur the £25 a day London Congestion Charge when new rules come into force on 27 October 2008.
Together with the 2.8 FSI SE and Sport models, which are by some margin the cleanest cars in the luxury sector, it brings to six the number of Audi A8 derivatives that will incur only the £8 daily charge.
Audi Q7 S line for price of SE
With its unrivalled blend of quattro permanent four-wheel drive, seven seats as standard, adaptive air suspension and choice of two FSI petrol and two TDI diesel engines, the Audi Q7 offers real luxury and style with full quattro capability.
Now, the price is the same for both SE and S line models, giving drivers the opportunity to select the specifications that best suits their requirements. Prices start from £41,330 ROTR for the 3.0 TDI quattro 240PS.
Furthermore, the Audi Q7 3.0 TDI S line is now available from Audi Finance on a 24-month/10,000 miles a year basis from £539 a month with £1,617 deposit.
Super luxury for Audi Q7 coastline
Shown alongside the new V12 TDI super-SUV at Geneva, the Audi Q7 coastline design study offers the ultimate in luxury, with a distinctly nautical theme.
Dark waxed American walnut veneer covers parts of the armrest, inner door sill trims, gear knob and luggage compartment floor, giving it a deck-style look that complements the ultra-luminous white exterior and plush velvet and leather-upholstered seats.
Audi A4 voted No1 in Europe
Readers of Auto Express and its 25 European sister publications have voted the new Audi A4 the magazine’s prestigious 2008 Auto 1 award winner at the Geneva Motor Show in March.
The overall champion is selected by editors, experts and racing drivers linked to the 26 magazines, but their 40 million readers also play a key role in the judging process.
Players and staff at Durham County Cricket Club have acquired a new fleet of Jeep and Dodge models, through Daimler Fleet Management (DFM).
DFM is one of the UK’s leading fleet management companies, operating a UK fleet of over 49,000 vehicles from all leading manufacturers, which forms part of a pan-European fleet approaching 470,000 vehicles.
The vehicles are being supplied by Stockton dealership Kings Teesside Chrysler, Jeep and Dodge with assistance from Chrysler UK Ltd. DFM are providing the vehicles under a contract hire agreement.
Nicola Kilkenny, Corporate Sales Manager at Daimler Fleet Management, said: “We have supplied 16 vehicles to the Club in total - ten Dodge Nitro models for players and six Jeep Patriots for promotional and other staff.”
David Harker, Chief Executive of Durham County Cricket Club, said: “We’re delighted to have the support of Daimler Fleet Management. The players are really pleased with the vehicles they have been provided with and the Jeep Patriots have proved to be hugely beneficial to our Promotions team.”
Faye Sunderland
Professional Vehicle Services Ltd. (PVSL) has been established for many years. They are independent brokers whose aim is to provide you with a personal quotation within 24 hours of having received your request. PVSL offer business and personal finance solutions to customers throughout the UK. Professional Vehicle Services Ltd. provides personal contract hire, personal contract purchase, short term contract hire and contract hire.
American giant Dodge has confirmed that it is to launch the all-new Journey crossover this summer and prices are to start from £16,995. According to the maker the new Dodge Journey Crossover offers competitive fuel economy, masses of interior space and value for money, without compromising its bold, good looks.
It has a seating arrangement of 5+2 with the plus two seats thought only to being of real use when short trips are necessary.
When launched the car will have a choice of two engines and you can power it by a 2.4-litre petrol engine or a 2.0-litre diesel engine. The diesel engine will be available with either a manual or dual-clutch automatic gearbox.
To accommodate the family, the car includes tilt and slide second-row seats; rear doors that open to 90-degrees for easy access when installing child seats and air-conditioning that works in all three rows.
Simon Elliott, Managing Director of Chrysler UK, said: “Dodge Journey is the perfect right-sized vehicle for families that don’t want the look of a people carrier, but need the functionality and utility of an MPV. Families that need space for seven will love the flexible seating system, spacious storage bins and under-seat storage areas. Safety is also very important for these customers and with ESP and three-row side curtain airbags this really is the ideal family vehicle.”
To lease a Dodge make sure you log on to www.contracthireandleasing.com for the best offers.
Simon McBride
Toyota has revamped the Aygo city car by adding a new dedicated Slate Blue metallic paint finish to its range. It starts from £7,995 on the road.
The colour co-ordination goes from the door mirrors and bumper inserts on the outside to the carpet mats with matching blue stitching and slate blue bezels for the air vents and instrument display on the inside.
The Aygo Blue sits alongside Aygo Platinum at the top of the model range, offering an attractive array of premium equipment features. This includes Bluetooth connectivity, air conditioning and, on manual models, leather gear knob trim are all part of the standard specification.
Two accessory packs are also available for the Aygo Blue. The Aygo Xtra equips the car with rear parking sensors, mud flaps and unpainted rear and side protection strips, while Aygo Style adds élan with alloy wheels, front fog lamps and front scuff plates. The packs are priced £335 and £595 respectively.
According to the maker the Aygo Blue will return an official figure of 61.4mpg on the combined cycle while carbon dioxide emissions are just 108g/km.
The Aygo Blue is powered by a 67bhp 1.0-litre engine, which is mated to a five-speed manual or Multi-mode transmission.
For the best car leasing deals on the Aygo go to www.contracthireandleasing.com for more.
Simon McBride
Pendragon, Europe’s largest automotive retail network is rumoured to be instigating redundancies to deal with difficult market conditions.
The recent economic downturn is reflected in other big industry players such as GM Motors who have already laid-off some 3550 workers. BMW and Damiler have both recently reported falling profits in the first quarter.
International financial crisis, a slower US economy, credit crunch in the UK, and the abolition of exemption for higher road tax on older vehicles have all affected the used car market and the wider industry.
Stricter tax regulations on CO2 emissions are hitting hard on the value of luxury and larger vehicles.
ContractHireAndLeasing.com will bring you further news as we watch the effect of a slowing economy.
Faye Sunderland
Western Power Distribution has renewed its contract with Ford to supply all its light commercial vehicles and small business cars. The new agreement is for two years, with an option to extend.
The electricity distribution company for South-West England and South and West Wales, based in Bristol, runs 600 diesel-powered Ford Transit T300s and T350s, Transit Connects and Rangers, as well as Ford Focus hatchbacks.
WPD delivers electricity to 2.5 million customers over a 10,000 square mile area. Its technicians use Ford vehicles, for construction and maintenance of its large network.
“We’re very pleased with the vehicles,” said WPD’s Fleet Manager John Brooks. “They’re reliable, and delivery and service from the main dealer is very good. The drivers are happy too – it’s an all-round good-quality product.”
www.ford.co.uk
Faye Sunderland
Audio sketch show to provide comic relief to Bank Holiday / M6 motorists
Being stuck in traffic is no laughing matter but that’s all set to change thanks to a new audio comedy sketch show.
230 Miles of Love, the world’s first ’satcom’, launches on Thursday 1st May and promises to take comedy to places it’s never been before –the M6 Motorway.
Writer and creator Andrew Shanahan has coined the term satcom which refers to a comedy broadcast via satellite navigation technology.
You can visit www.230milesoflove.com and download the sketches onto your satnav for free. When you reach certain points on the M6, a relevant sketch is transmitted to your sat nav.
As drivers cruise past Junction 20 they can hear all about the Thelwall Viaduct’s exhausted poet-in-residence. As they approach the M6 Toll road they hear For Whom The Toll Tolls, the only game show that asks whether you’re going to risk getting stuck in traffic on the original M6, or take the Toll; the sketch even ends differently depending on which way the driver goes.
230 Miles of Love features performances from professional comedians John Warburton and Louise Conran and up-and-coming stars like John Thorp, Chris Rea and Mel Moon.
As well as enlivening the journeys of thousands of people, the show aims to raise £23,000 for The Motivation Charitable Trust, which provides wheelchairs to people in developing countries.
230 Miles of Love is the first in a series of comedies in a project called Moving Audio. Shanahan said:
“The M6 is an ideal location and subject for comedy. Hundreds of thousands of people use the road every day, which gives you a ready-made audience and even better is that nearly every traveller wants to entertained. With the advances in satnav technology, it seemed like a natural progression to look at this as a new medium and explore what it could do to brighten up a long journey.”
Drivers can download the show onto their satnavs, PDAs and mobile phones or simply listen at home on their mp3 players and computers. The show couldn’t have come at a better time for drivers who find themselves bored by the monotony of the motorways.
Visit www.230milesoflove.com
Faye Sunderland
The rise of ‘White Vin’ Man (and ‘White Vin’ Woman) Swinton identifies new generation of upmarket van drivers.
The stereotypical ‘white van man’ has a new, more upmarket rival according to leading high street insurance retailer Swinton. It has identified a new generation of self-employed professionals, both male and female, who are investing in top of the range commercial vehicles with which to ply their trade. Swinton has dubbed them the ‘white vin man’ and ‘white vin woman’.
Swinton reports that ‘white vin man’ has contributed to a sharp increase in insurance policies being taken out on sophisticated and expensive vans such as the Mercedes Vito and VW Transporter Sportline over the last two years.
These are preferred by ‘white vin man’ as they can double up as the owners personal transport and further not look out of place in the golf club car park next to BMWs, 4×4s and people carriers.
Policy data also reveals that the type of work undertaken by ‘white vin’ men and women is a very different from that of plasterer, plumber and builder. Typically their jobs are linked to the creative industries - with occupations such as landscape gardener, interior designer, organic grocer and gourmet caterer being submitted on insurance applications. Of these applications, 35% come from female van owners seeking insurance.
In addition to needing cover for high specification commercial vehicles, Swinton has also seen the specialist nature of these occupations affect the nature of contents and equipment requiring insurance. Rather than power drills and stepladders, Swinton is being asked to quote for top-end laptops, DAB car radios and very high value ‘tools of the trade’.
Swinton calculates the average value of vehicle and contents for a ‘white vin’ driver is £25,000. This is in sharp contrast to £6,000 average value for a second hand panel van, including contents, which is more commonly associated with the traditional ‘white van man’.
A spokesperson from Swinton’s Commercial Vehicle division said of the
trend:
“A new generation of entrepreneurs are shunning nine to five jobs and going into business for themselves. It also appears that TV shows such as Master Chef and House Doctor are giving some of these people the confidence to go it alone in the more creative and artistic sectors.
“Combine that with the huge amount of money people continue to invest in improving their homes, gardens and their quality of life in general and you can see how the type of skills and services white vin men and women offer would be in demand.
“The high value of contents being insured also reflects the specialised nature of their occupations. For example, a recent application we received for a professional ‘home stager’ listed £3,000 worth of props including antique vases, modern artworks and Persian rugs amongst the items that required cover.
“But just like Swinton’s thousands of traditional van driving customers, these self-employed professionals also need practical and reliable transportation. However it seems that their slightly more upmarket tastes extend to the type of commercial vehicle they are purchasing.”
http://www.swinton.co.uk/
Faye Sunderland
