Slight changes in latest Advisory Fuel Rates
HM Revenue & Customs has confirmed the latest Advisory Fuel Rates that businesses use to repay drivers for company car use on work business.
The new rates are valid from 1 September and show only a 1p per mile increase to the middle of the three diesel rates, increasing to 10p per mile for diesel cars with an engine size of 1601cc-2000cc. The other diesel rates and all three petrol bands remain the same, although the little-used LPG rate sees increases of a penny on the top and bottom bands of 1400cc or less and 2000cc or more, rising to 7p and 12p per mile respectively.
The previous rates can be used until the end of September, and all the rates can be found at https://www.gov.uk/guidance/advisory-fuel-rates
New Volkswagen ID3 manages 330-mile journey
Volkswagen’s new ID3 electric car has completed a 330-mile journey form Zwickau to Schauffhausen in Switzerland, beating the official 260-mile range figure for the 58kWh battery model by 26%.
Driven by EV-expert ”hypermiler” and appropriately named Felix Egolf, VW said the car was a series production model, and the journey was 56% country roads and 44% highway, and included slipstreaming trucks for maximum efficiency. The average speed was 35mph.
The ID3 arrives in the UK this autumn.
Used market ‘unseasonably strong’ in August: Cap
The used car market in the UK is continuing to show “unseasonable strength” according to used value expert Cap HPI.
Values of three-year old cars moved upwards by 0.2% month-on-month, which puts them 7% higher than the same point in 2019.
“There appears to be pent-up consumer demand still with buyers wishing to avoid public transport, those careful buyers downgrading, and savers looking to upgrade – maybe instead of taking an expensive holiday abroad,” said Cap HPI head of valuations Derren Martin. “There are certainly a number of interesting dynamics.”
While petrol and diesel models both rose in value, Cap said electric models fell in average value for the third month in a row, which Cap put down to market feedback saying the models still look expensive versus their internal combustion engine rivals. “2017 saw an increase of around 40% in EV new car registrations over the previous year, so it is no surprise that as more vehicles come back into the used market, values will be exposed to supply and demand dynamics,” said Martin.