Alternative fuels overtake diesel as COVID-19 crisis reshapes UK car market

Sales of alternative fuel vehicles have overtaken diesel in the UK new car market for the first time as the Coronavirus crisis disrupts the sector. Latest figures from the Society of Motor Manufacturers and Traders have revealed that demand for diesel has fallen rapidly as orders dry up, particularly those from the formerly diesel-dominated company car market. In March, diesel’s market share dropped from 25.7% to 17.6% compared with March 2019, while for the first three months of the year, diesel’s share fell from 26.8% to 18.9% compared to Q1 last year. Alternative fuels, covering all plug-in cars and hybrids, saw their market share nearly triple during Q1, reaching 20.6% of car sales, compared to 7.9% last year. During March, the market share of alternative fuels was 22%, compared to 7.8% for March 2019.

Alternative fuels overtake diesel as COVID-19 crisis reshapes UK car market

Apr 06, 2020

Sales of alternative fuel vehicles have overtaken diesel in the UK new car market for the first time as the Coronavirus crisis disrupts the sector. Latest figures from the Society of Motor Manufacturers and Traders have revealed that demand for diesel has fallen rapidly as orders dry up, particularly those from the formerly diesel-dominated company car market. In March, diesel’s market share dropped from 25.7% to 17.6% compared with March 2019, while for the first three months of the year, diesel’s share fell from 26.8% to 18.9% compared to Q1 last year. Alternative fuels, covering all plug-in cars and hybrids, saw their market share nearly triple during Q1, reaching 20.6% of car sales, compared to 7.9% last year. During March, the market share of alternative fuels was 22%, compared to 7.8% for March 2019.

Market Data

White Clarke Group - Global Leasing Report 2020

Mar 03, 2020

The annual Global Leasing Report 2020, released by White Clarke Group in association with the World Leasing Yearbook, has revealed how nearly nine years of growth has shaped the market. The report, which is available for free download, is the definitive guide to the world’s top 50 leasing markets and provides detailed analysis of country trading environments and trends in auto and equipment finance. Highlights show that the global leasing industry has expanded by 131% in the past nine years, powered by Asia, North America and Europe, despite economic challenges. The three regions make up 95% of the world’s total leasing volume.

Bynx Pricing Reviews

Bynx - Asset Finance Pricing Review - Russia's auto revolution

Dec 12, 2019

      AVAILABLE NOW, FREE OF CHARGE Tom Seymour takes a look at how leasing and the fleet market are developing in Russia. While new cars sales have stalled, leasing is gaining popularity.  Russian drivers are showing a strong interest in car sharing services, although support for other new initiatives, such as electric vehicles, is very low. It is hard to predict how the Russian auto market will develop. As commentator Ralph Morton points out in his opinion piece, the runaway growth in personal leasing is starting to have an impact on fleet leasing. Insights into the so-called “death of diesel” on car sales and residual values. Dean Bowkett takes a look at how new powertrains are taking hold across Europe, and the factors influencing the rise of electric vehicles. The latest stats from Experteye’s European Leasing Index Report.   CONTRIBUTIONS FROM   Sovetkina Zoya, leasing lead, Expert RA Dmitriy Strashkov, head of corporate finance, VWFS Rus Alexander Mikhaylov, chief executive, Europlan Ralph Morton, Editorial Director, Morton Media

 

Technology Reports

Companies in the finance industry invited to support major research project into servitization

Jan 15, 2020

A major new research project will take a detailed look at how the sale of services linked to asset-backed financing can offer a compelling opportunity for auto and equipment finance companies so they can develop new income streams and profit growth. The servitization research project, developed by the International Asset Finance Network, in partnership with GrowCap, will look at how technology can increase customer satisfaction and encourage retention, while also building a competitive advantage over other more traditional finance organizations. It is looking for finance company partners to support the project. Participants will be able to use the results to develop their future business strategy.