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Aston Barclay warns over ‘out of kilter’ alternative fuel vehicle prices

Up to 40% of alternative fuelled vehicles are remaining unsold at auction as prices surge and the vehicles become “out of kilter” with petrol or diesel models, according to Aston Barclay.

Aston Barclay report JAn 2021The company’s Insight Used Market Report for the final quarter of 2020 showed a £14,208 rise in AFV prices during the period. “Unsold AFV stock typically runs at five per cent but we’re now seeing some numbers between 20-40% for some fleet vendors,” said Aston Barclay managing director – customer Martin Potter. “This reinforces our concerns for some months that this stock is overpriced in comparison to equivalent petrol and diesel models.”

He said the third lockdown had impacted demand in early January, and predicted that it may be late this year before fleet sector volumes stabilise due to the contract extensions since the first lockdown last March. “This should keep prices relatively stable in the first quarter of 2021,” said Potter.

Hitachi invests in Gridserve green energy firm

Hitachi Capital UK has made a £10m investment in green energy firm Gridserve, the company behind the UK’s first electric forecourt that recently opened in Braintree, Essex.

Robert Gordon Hitachi 2021The move extends the partnership between the two firms, with Hitachi having funded £24m of Gridserve projects in 2020, including the Braintree Electric Forecourt facility that can charge up to 36 vehicles at once, and is the first of 100 sites planned for the UK.

The partnership also already includes the UK’s claimed first net-zero vehicle leasing business.

Our intention is to become a market leader for EV adoption and today’s announcement, along with our commitment that 20% of our assets will support sustainable business projects over the next five years, shows our determination to deliver on that promise,” said Hitachi Capital (UK) PLC chief executive Robert Gordon.

Keyfuels expands Moto fuel card partnership

Light commercial vehicle and HGV fuel card provider Keyfuels has announced a renewed and expanded partnership with Moto service stations, adding another 28 motorway sites to its network that now covers 70% of UK filling stations.

The company now covers 3,250 sites and has a target of 3,500.

It is another indication of our continued growth and investment in providing our customers with the greatest choice and maximum convenience for their fuelling needs,” said Paul Holland, managing director of Keyfuels at Fleetcor. “Today the Keyfuels network gives commercial vehicles unrivalled fuel site access on all major routes.”

 

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