Paul Bennett

#StandardProfil: "We re-examine our model estimating the timing and success of any new deal." Tomas Mannion - Sarria - Credit Opportunities Want to hear more about what we do? DM Malika Varsani. Not a client? Request a trial here: [email protected] Sign up for our newsletter here: https://bit.ly/3mgFWgB #highyieldbonds #distressedassets #distressedcredit #assetmanager #fundamentalanalysis #highyield #excelmodel #specialsituations #distresseddebt #sarria

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Great piece from City AM' Guy Taylor Experts say the Society of Motor Manufacturers and Traders (SMMT)’s private sales data, which is the most widely used metric in the UK automotive industry industry, is “flawed” and “inaccurate.” They argue consumers are increasingly buying EVs using salary sacrifice schemes, which allow employees to deduct a monthly sum from their pay to lease EVs at far lower cost. “How individuals purchase EVs is often overlooked, due to the way data is represented, especially in the figures from the SMMT,” Fiona Howarth, chief executive of Octopus Electric Vehicles, told City A.M. “Let’s be clear, salary sacrifice cars are on the driveways of typical drivers – they’re used for the school run, weekly shop and family trips, so why should they be counted as fleet cars?” she said. Quentin Willson, the motoring journalist and founder of the campaign group FairCharge, said: “We need to capture accurate end user data to get a clearer picture of the split between private and fleet. The anti-EV narrative claiming that private buyer interest in EVs has waned is being supported by inaccurate data.” Mike Hawes Sam Salehi Amy Rennison Ben Nelmes New AutoMotive Octopus Energy BOLD Voodoo Dr. Andy Palmer CMG Ian Johnston ChargeUK Vicky Read Osprey Charging Network Read here: https://lnkd.in/eiKKmQ7W

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EVs drive #UK new-car registrations growth in April The latest figures from the Society of Motor Manufacturers and Traders (SMMT) show a 21st month of new-car registration growth in the UK during April, but only just. Deliveries were up by 1% year on year, with EVs and hybrids responsible for this increase. Read the full analysis here https://lnkd.in/eb7rdbAD #UKnews #AutomotiveIndustry #newcars #industry #sales #growth

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"Naomi Jane Nye, an expert at Drax Electric Vehicles ⚡, aptly captures the prevailing sentiment among those in the electric vehicle (EV) sector"—says Motor Finance Online (GlobalData Plc)—following the Labour’s King’s Speech yesterday Naomi comments: “The transition to electric mobility is steadily growing across the UK, and for everyone working towards the shared #NetZero goal, it’s promising to see ChargeUK’s forecasts [increasing] for EV charging availability. However, there’s still a long way to go before electric becomes the dominant powertrain. Confidence in #EV charger access and EV range continues to bring challenges for electrification across households and businesses.    In a recent study by Drax Electric Vehicles ⚡, over a quarter (26%) of fleet decision-makers cited a lack of government support as a main barrier to electrification. Loosening petrol’s stronghold on #UK road transport will be no easy feat, particularly when many businesses are scaling back on high-investment #sustainability projects. The next cohort of #fleet managers and businesses are inherently risk-averse compared to early adopters and, therefore, will need more support and assurance through the electrification process.” Read more below👇

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The latest figures from the Finance & Leasing Association (FLA) show that consumer vehicle finance grew by 8% year on year, with more than two million new and used cars bought on credit. And with buying a car being one of the biggest purchases most people will make in their lifetime, it’s important that they can do so with confidence. Which is why we recently launched TotallySure for car finance, providing pre-approval, guaranteed rates, loan amounts and loan terms. ✅ Pre-approval:  Car finance applications often require a hard credit search — and too many can negatively impact one's ability to borrow. With pre-approval, customers will know if they’ll be accepted before they apply, helping to put an end to any impact that rejection might have on their credit file. ✅ Guaranteed APR:  Knowing the APR of the agreement before you apply is essential to helping you work out if you’ll be able to afford repayments. TotallySure puts an end to rep rates and nasty post-application surprises by guaranteeing the cost to borrow. ✅ Guaranteed loan amount: Knowing the amount of money you can borrow will help you decide which car you buy — and is why TotallySure always guarantees the size of your loan. ✅ Guaranteed term: When borrowing, you need to know how long you’ll be making repayments for, so you can plan your long-term financial future. TotallySure guarantees the exact term of the loan, so customers can map out their financial future.

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Alarm bells ringing as EV transition hits auto industry - Auto sector calls for urgent market intervention as weak demand and unsustainable business costs undermine UK industry. - Car manufacturers face almost £6 billion bill to meet ZEV Mandate in first year, new analysis shows. - Industry outlook anticipates 116,000 fewer new electric cars and vans will be registered this year compared with expectations when mandate was announced. - 30% boost in EV model choice since last year1 and estimated £4 billion in manufacturer discounts fail to stimulate consumer demand to level needed. https://lnkd.in/eb9MHdT8

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The Society of Motor Manufacturers and Traders (SMMT) Q2 used car transactions are out... 📈 Q2 up 7.2% year-on-year; H1 up 6.6% year-on-year 🚗 Sixth consecutive quarter of growth for the used market 🔋 Used EVs grew to 2.4% market share on the back of a 52.6% increase in sales 🗣️ Philip Nothard, Insight Director, comments: “The surge in BEV sales is particularly promising, reflecting a significant shift in buyer preferences. However, as we look ahead to the year's second half, it's important not to get too giddy. Supply will remain a battleground, and the composition of the car parc is shifting faster than consumer preferences. While used values may have settled compared to the volatility seen last Q4, this year's Q4 will likely see renewed turbulence as the rush to meet ZEV mandate targets intensifies in the new car market.” Read their full report 👉 https://bit.ly/3YIBUi6

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Fridays numbers will be interesting for the EV charging market.

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EY’s Mobility Consumer Index (MCI) surveys 19,000 respondents across 28 of the world’s top auto markets. The latest MCI, published today, reveals that Only 36% of UK respondents in the market for a new vehicle are intending to purchase an Internal Combustion Engine (ICE), down from 41% last year. Additionally, 59% of UK respondents intending to buy a vehicle in the next two years are prioritising alternative powertrain technologies, up from 54% in 2023. See the latest press release for more: https://lnkd.in/ezd8vwzV

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⚡Could incentives spark BEV growth in the UK? 🗨 The UK’s automotive sector needs closer cooperation with the country’s government to deliver its full growth potential, while also allowing for a smoother transition to zero-emission motoring. This was the call from the recent Society of Motor Manufacturers and Traders (SMMT) International #Automotive Summit. With the country gearing up for a #generalelection, there is an opportunity to further define automotive policies and ensure the industry continues to benefit the UK economy. Read more here https://lnkd.in/eZgCztvn #UK #investment #automotiveindustry #carsales #electricvehicles

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The next panel session discussed inclusive leadership for industry transformation, hosted again by Julia Muir, with Catherine Faiers (Auto Trader UK), Tom Kilroy (Keyloop), Annick Jourdenais (Euro Car Parts Ltd.) and Martin Forbes (Cox Automotive Europe).     Julia highlighted the need to employ high performing and high potential people to rise to the huge industry challenges of 2030 and beyond, such as cyber security, artificial intelligence, net zero, EV’s and connected cars.    Transformational inclusive leadership is needed to find new skills, upskill and reskill, with the intention to stop excluding any talent pool – including women. This is especially important in light of new IMI data that revealed the automotive sector has the joint highest vacancy rate, tied with hospitality. Read our latest research here: https://lnkd.in/eAZAy9Ty.   #ChangeTheGame 

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If you want the best research, survey and insight answers on the uk automotive industry and what car owners and buyers are thinking? Then subscribe to the illustrious Insight Quarterly by Cox Automotive Europe - Sign up at the bottom of the page once you click the link below….

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Discover the future of car buying & ownership and check out our Keyloop blog. Read the bonus chapter of our UK&I Whitepaper, "The Next Generation of Automotive Customer Experience," authored by Graham Stokes. Discover how technology is transforming automotive retail, making customer journeys more personalised and engaging than ever before. From innovative communication strategies to integrating digital solutions, we’re redefining how you interact with your vehicle. Read more and join the revolution in automotive customer experience: https://ow.ly/l5Wi50RQEXr #Automotive #CustomerExperience #Innovation #TechInAutomotive #Keyloop

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Embedded finance is set to transform the mobility space, and our latest blog shares our top five predictions. Our Chief Strategy and Product Officer, Jean-Jacques Le Bon, predicts that mobility aggregators, and potentially cities themselves, will offer simplified travel experiences, powered by Banking-as-a-Service (BaaS), that will make transport seamless and more accessible. Explore our predictions for the future of mobility with embedded finance: https://lnkd.in/eWrfEnVQ #mobility #embeddedfinance"

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Great to have Motorway supporting the Car Dealer Live podcast last night. There was some great debate on EVs and, in particular the Zero Emission Vehicle (ZEV) mandate (sets out the % of new zero emission vehicles manufacturers are required to produce each year up to 2030). I agreed with the view that if the industry is going to hit the ZEV mandate goals, much more needs to be done to support consumer demand for EVs, including investment in charging infrastructure and reducing VAT on out of home charging (from 20% to the 5% charged for domestic electricity). https://lnkd.in/esZwwKjP

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SMMT tells next government to back #automotive and reap £50bn growth The Society of Motor Manufacturers and Traders (#SMMT) has unveiled an ambitious plan to collaborate with the next government to boost the UK #automotiveindustry's growth by £50bn over the next decade. This initiative, titled Vision 2035: Ready to Grow, was presented at the 16th SMMT International Automotive Summit. It outlines strategies for driving #economicgrowth, accelerating the transition to #zeroemissionvehicles (ZEVs), and enhancing the UK's #automotivemanufacturing capabilities. Key Points of Vision 2035: #MarketGrowth: The value of the new car market is projected to grow from £70bn annually to almost £80bn over the next decade. More than 17 million fossil fuel cars will be replaced by ZEVs by 2035. Annually, over a million #electricvehicles (EVs) will be produced, increasing the sector’s value by 5%. Economic and #Environmental Impact: Halving VAT on new EV purchases for three years could add 300,000 new zero emission car registrations, leading to a total of 2.3 million new ZEVs on the road during that period. This move would also significantly #reducecaremissions by 175 MtCO2 by 2035. #Competitiveness and #Production: Enhancing the UK’s global competitiveness in light vehicle production could result in over nine million ZEVs produced by 2035, generating more than £290bn in revenue. Policy Recommendations: Targeted policies and cross-party support to strengthen the #automotivemarket, enhance trade, upskill the workforce, and provide low-cost, low-carbon electricity. An industrial transformation strategy to ensure a fair transition to a net zero future, with the #automotivesector leading green #economicgrowth. Economic Contributions: The #UKautomotivesector is a significant contributor to the economy, directly employing almost 200,000 people and supporting over 800,000 jobs nationwide. The sector is pivotal in keeping the rest of the economy moving and is the UK’s most valuable goods exporter. Conclusion: By implementing these strategies, the UK automotive sector aims to play a crucial role in the country's net zero transition, driving substantial economic, social, and environmental #benefits. If you're looking to recruit / looking for a new role in the #manufacturing, #engineering or #supplychain industries, get in touch today! Call: 0151 480 2300 Email: [email protected] #follow Morgan Ryder on #linkedin Visit our website: morganryder.com Celebrating 20 years of world class #manufacturing Credit: https://lnkd.in/gtBkNnd7

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🚗 The results are in: The Car Dealer Top 100 is here!   Curious which dealerships are leading the pack in profitability? Ian McMahon and the Automotive team have crunched the numbers to reveal the UK’s most profitable car dealers by EBITDA.   It’s not just a leaderboard, it’s a behind-the-scenes look at the resilience, innovation, and strategy driving the industry forward.   Want to know who made the top 10? 🤔  Or dive deeper into what’s shaping the future of automotive?   👉 Check out the full article here: https://lnkd.in/eprm8Fyb   #CarDealerTop100 #AutomotiveInsights #DrivingProfits #CooperParry

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Are UK electric vehicle sales on track to meet the rising ZEV Mandate targets? Figures from the Society of Motor Manufacturers and Traders (SMMT) show that BEV sales surpassed the 22% mandate for the first time in August, making up 22.6% of new car sales. However, while this is a positive step, overall BEV sales in 2024 remain below the target. What more could be done to ensure next year’s threshold, set to increase to 25%, is met? #ElectricVehicles #BEV #ZeroEmissions #ZEVMandate #Sustainability #GreenTransport #UKAutomotive https://lnkd.in/erEZ_hR6

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