ComfortDelGro, a Singapore-based transport operator, has secured a S$100m ($73.47m) green loan from DBS to decarbonise its UK bus fleet.   The funds have been utilised to purchase 135 electric buses for Metroline, a wholly owned subsidiary of ComfortDelGro and a bus operator in London.  Metroline’s newly acquired 77 double-deck and 58 single-deck electric buses will replace the same number of internal combustion engine-powered buses.   This transition is expected to reduce tailpipe CO₂ emissions by approximately 9,900tpa. The green loan is a component of ComfortDelGro ..read more

Hedin Automotive Netherlands, part of Hedin Mobility Group, has reached an agreement to acquire BMW and MINI dealer Dubbelsteyn.   The financial terms of the transaction were not disclosed.   With the deal, Hedin Mobility’s dealership network will expand from five to seven branches in the Netherlands.   The acquisition includes all dealership activities such as sales, after-sales services, and spare parts sales.  Hedin Cars BV is conducting the acquisition, which includes Dubbelsteyn’s two dealerships located in Dordrecht and Numansdorp.   This ..read more

The number of vehicles on UK roads reached a record high in 2023, rising by 1.7% to 41,404,589 vehicles, according to new Motorparc data published by the Society of Motor Manufacturers and Traders (SMMT) – with plug-in vehicles driving the biggest growth in car ownership since 2016. Total cars on the road rose by 1.6% or 546,800 units to 35,694,845, after almost half a million new battery electric (BEV) and plug-in hybrid (PHEV) vehicles were registered during 2023. The number of BEVs in use increased by almost half  (47.3%) compared with 2022, meaning these vital zero-emission ..read more

TUAL, a provider of electric commercial-vehicle charging solutions, has unveiled PowerBank Pro-Charging to enhance enterprise fleet-vehicle charging specifically targeting electric commercial-vehicle productivity. TUAL has developed this technology to address the need for improved productivity, and profitability of enterprise fleets, the company said in a press release. Focusing on electric light commercial vehicles (eLCVs) as a key segment within enterprise fleets, TUAL’s technology offers tailored solutions to fleet operators and vehicle OEMs grappling with the complexities of vehicle chargi ..read more

The European Union car market experienced its first decline of the year in March 2024, with new car sales falling by 5.2% to one million units.   According to the European Automobile Manufacturers’ Association (ACEA), the timing of the Easter holidays was a contributing factor to the downturn, which was felt across most EU markets, including the four largest economies: Germany (‑6.2%), Spain (-4.7%), Italy (-3.7%), and France (-1.5%).  The first quarter saw a 4.4% increase in car registrations, with nearly 2.8 million units being registered.   The major EU markets repo ..read more

Used car values remained stable for the third month running, averaging £7,522 in March, down just £42 (0.6%) compared to February with sold volumes and conversion levels also remaining consistent, according to BCA’s latest valuation data. The Easter period – typically seen as a watershed in demand – saw activity remain positive, with the week running up to the double bank holiday attracting significant interest and healthy conversion rates.  The number of active monthly buyers reached the highest figure recorded since the sales programme moved online in the early weeks of the pandemic in ..read more

According to the Financial Times, Tesla has proposed relocating its state of incorporation from Delaware to Texas, following a Delaware court’s nullification of CEO Elon Musk’s $56 billion compensation package earlier in the year. Robyn Denholm, Tesla’s board chair, reached out to shareholders on Wednesday, seeking their approval for the move to Texas and the ratification of Musk’s pay package, initially endorsed in 2018. Should the proposal gain approval, Musk will receive shares valued at $47.8 billion based on current share prices. Shareholders will vote on these matters during the company ..read more

Britain’s financial services watchdog has revealed that the rise in motor insurance costs has triggered a wave of complaints as the country grapples with a cost-of-living crisis, reported Reuters.    This increase has been attributed to various factors including supply chain issues and the complexity of modern vehicles.  The Financial Conduct Authority (FCA) director of insurance Matt Brewis conveyed to the Treasury Committee hearing on the insurance market that the agency has been inundated with “heart-rending stories” from individuals struggling with the escalating costs ..read more

Volvo Cars’ recent decision to cease production of diesel models marks a significant milestone in the automotive industry’s transition towards sustainable mobility. By prioritising investment in battery-powered vehicles, Volvo has underscored the urgency for carmakers to embrace electric vehicles (EVs) and accelerate the shift away from traditional combustion engines. Volvo has swiftly adopted electrification, steadily incorporating mild hybrid and plug-in hybrid technology into its lineup over the past five years. This gradual progression has culminated in the introduction of fully battery el ..read more

Tesla’s dominance in the European battery-electric-vehicle (BEV) market may be in jeopardy as the overall market share for BEVs is projected to stall this year, according to an analysis by Bloomberg Intelligence (BI). The analysis suggests that Volkswagen’s launch of new models to compete with Tesla’s Model Y, coupled with a price increase for the Model Y, could contribute to this shift. In March, BEV sales dipped to 13.4% of the total market, down from 15.1% the previous year. Tesla’s market share also experienced a decline, dropping to 18.7% from 29% in the same period, according to BI data ..read more