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Round-Up: Waite joins Hyundai, Used car values up in December, VWCV fixed insurance offer

Waite joins Hyundai

Andrew Waite

Former Fiat fleet boss Andrew Waite has joined Hyundai as its new network devlopement director.

According to LinkedIn, Waite has been in the new role for a month; last week FCA he had left the company to “to pursue other interests” as it announced Iain Montgomery would succeed him.

Waite was FCA’s fleet and remarketing director for a year and 10 months and prior to that, he held the position of national sales manager at Fiat Professional.

Used car values up in December

The average value of used cars sold at BCA auctions in December 2019 was £10,015 – the fourth highest value on record, according to the remarketing giant.

BCA attributed the high average to average values for fleet and lease and dealer part-exchange vehicles rising to record levels during the month with the company reported sustained demand and competitive bidding across the board.

Stuart Pearson BCA COO of UK remarketing, said: “Professional buyers were very active throughout December building forecourt stock for the new year and this strong demand carried on over the Festive Season.  Retail conditions for used vehicles remained very positive throughout December and as a result, BCA staged a very successful programme of incremental sales between Christmas and the New Year at BCA Blackbushe, Manchester, Nottingham, Measham and Brighouse, along with a number of specialist digital events.”

VWCV fixed insurance offer

Car Insurance Premium Increases

Volkswagen Commercial Vehicles has launched a new fixed price insurance offer to counter increases in premiums when staying with the same insurer.

The three-year fixed price insurance offer has been introduced in response to customer feedback after research revealed 40% of owners switch insurance every year because loyalty isn’t rewarded, the firm said.

Figures show drivers experience an average increase of £46 a year when renewing with the same insurer, costing the nation an estimated £4.1 billion in excess premiums.

The offer secures the renewal price for two cycles meaning the premium van owners will pay now will still be the amount charged for a duration of three years, if they choose to renew, the company added.