Fleets holding onto cars could impact RVs next year, warns remarketing company
Fleets are holding onto vehicles longer, putting off disposal plans until the spring when the Government is set to announce how the WLTP testing regime will affect Benefit-in-Kind rates, ADESA Remarketing.
Because there could be an influx of vehicles outside the normal three year/60,000 bracket as fleets are holding on to vehicles for longer, the remarketing company warned this could impact on overall values with its managing director, Jonathan Holland, warning that remarketing companies will need to pass on the vehicles as efficiently as possible to achieve the best possible values.
“With older stock the need for transparent vehicle descriptions is even greater than usual, as well as the ability to remarket the cars as soon as they become available through specialist upstream remarketing channels,” he said.
Latest AFRs revealed
HMRC has published its latest update to Advisory Fuel Rates, due to come into force from 1 December.
There are no changes for petrol and electric vehicles, but the rate for diesel cars with an engine above 2,000cc has increased by 1p per mile, from 13-14ppm. All other diesel rates remain unchanged.
|Engine size||Petrol – amount per mile||LPG – amount per mile|
|1400cc or less||12 pence||8 pence|
|1401cc to 2000cc||15 pence||10 pence|
|Over 2000cc||22 pence||15 pence|
|Engine size||Diesel – amount per mile|
|1600cc or less||10 pence|
|1601cc to 2000cc||12 pence|
|Over 2000cc||14 pence|
The Advisory Electricity Rate for fully electric cars is 4 pence per mile.
ACFO board change
Fleet chief Stuart Lightbody is to join ACFO’s board when Phil Redman retires at the end of the year.
Lightbody is head of fleet services at Anglian Water and has been in the fleet industry for 18 years and has been an ACFO member for the last two years.
Redman, meanwhile, has been on ACFO’s board for the last decade and was a fleet manager at IBM for 25 years before forming his own consultancy business in 2015.
“Throughout my career I have tried to make a difference and inspire people to move forward and look at issues in a new way,” said Lightbody. “I hope that I can apply that same methodology by joining the ACFO board and introducing new ideas and thinking and help to shape the organisation’s future. I am very keen on engagement and increasing participation and I want to convince other fleet decision-makers that ACFO is the right organisation for them to join and that by doing so they will be taking the fleet industry forward.”