Octopus sees surge in EV popularity amid fuel cost squeeze
THE electric vehicle (EV) market is experiencing a significant upswing as soaring fuel costs drive a growing number of petrol and diesel drivers towards the greener alternative, according to Octopus Electric Vehicles.
Citing research by Opinion Matters of 1,000 drivers, it says that nearly half (47%) of traditional car owners are considering making the switch, with lower running costs as the primary motivator.
The cost disparity between fueling a traditional car and charging an EV is stark. While a litre of petrol currently averages over £1.45 in the UK, charging an EV can be as low as 7p per kilowatt-hour. Some EV owners report annual savings of up to £1,000 compared to their previous petrol or diesel vehicles.
Not only are potential buyers recognizing the financial benefits, but current EV owners are overwhelmingly satisfied with their choice. A staggering 96% intend to stay electric for their next car purchase, further solidifying the trend. Environmental consciousness and the allure of cutting-edge technology also play a major role in driving EV adoption.
Furthermore, concerns about the UK’s charging infrastructure seem to be fading. Four out of five EV drivers report a positive experience with public charging, debunking claims of inconvenience.
Fiona Howarth, CEO of Octopus Electric Vehicles, commented on the research, stating, “This research is clear – almost half of the UK’s drivers are ready to get an electric car today, and yet they make up less than a quarter of the cars being sold. Certain laggard car manufacturers may claim drivers aren’t ready for EVs, but they underestimate UK drivers’ appreciation for the value, fun, and peace of mind electric cars offer.”
Europcar Mobility Group UK renews agreement with CBVC
EUROPCAR is renewing its contract with Staffordshire leasing broker CBVC Vehicle Management for the supply and management of company cars.
The new contract extends the partnership for a further three years. It follows a highly successful initial carbon reduction programme that saw average C02 per company car reducing from 129g/km to just 29g/km.
Europcar says that nearly 80% of its company car drivers now drive an EV.
“We are working with a wide diversity of businesses that are getting to grips with reducing emissions on their own fleets. It is, therefore, essential that we can show we understand the barriers they may face when aiming to win the hearts and minds of their drivers. By working with CBVC we have been able to deliver a streamlined solution that makes it easy for employees to make the switch.”
Fleet managers plan for AI to revolutionise fleet management
ARTIFICIAL INTELLIGENCE (AI) is in the sights of UK fleet managers according to new research from Webfleet.
The Bridgestone owned fleet management solution says that nearly half (48%) are either already using artificial intelligence (AI) for fleet management or are planning to do so within the next five years.
The global study, conducted among 1,800 fleet managers across 15 countries, highlights a growing trend towards digital transformation in the sector across the UK – with 15% already using AI, a third (33%) actively planning to and 43% considering its adoption in the future.
UK fleet operators still think that electric vehicles (EVs) will be more influential than AI, however.
More than a third (38%) predict EVs will have the biggest impact on fleet management in the next five years, with 28% citing AI and machine learning. This contrasts with global figures where most fleet managers (32%) think that AI will have the biggest impact, followed by EVs (30%).
More than half (58%) believe AI will help optimise route planning and logistics, while 51% anticipate it enhancing driver safety, behaviour analysis, predictive maintenance and asset management.
The push towards AI comes as fleets seek to cut costs and improve efficiency, with 50% predicting its emergence will reduce operational expenses and 47% expecting it to automate administrative and compliance tasks.
Used car market faces potential downturn in Q4
The Vehicle Remarketing Association is warning that the used car market could deteriorate rapidly in the fourth quarter.
Ayvens launches in the UK
The combined ALD Automotive | LeasePlan business will now trade as Ayvens in the UK, officially launching today
Leasys UK offers new Accident Management and Fleet Safety services
Leasing provider and broker funder Leasys UK is to provide Accident Management and Fleet Safety services to its corporate customers with end-to-end incident provider FMG.
Broker News Newsletter 01 October 2024
Catch up on the latest leasing broker news in the 01 October 2024 Broker News newsletter
Gateway2Lease extends partnership with The Electric Car Scheme
Gateway2Lease has extended its current three year partnership agreement with salary sacrifice experts The Electric Car Scheme.
Toby Poston to be next CEO of the BVRLA
Toby Poston will be the new Chief Executive of the BVRLA from 1 January 2025. He takes over from outgoing CEO Gerry Keaney.
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
