Pendragon, the national car dealership group, has disclosed a dramatic increase in profits for 2010. This rise is thought to have come from the sale of prestige brands and repairing older vehicles. Pendragon is regarded as Britain’s largest independent dealer operator – with pre tax profits more than doubling to £25m (up from £10m in 2009).

The company also owns Chatfields, Evans Halshaw and the Ubiquitous Stratstone. Pendragon’s success has proven that money can still be made in the automotive industry with much of its income coming from its service and repair centres during the downturn. However, once recovery signs surfaced then sales of the premium vehicles rose.

A ray of light for the industry or just the luck of one individual company? Only time will tell.

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In the European Union overall car sales fell last year by 5.5%, while Hyundai saw a rise of 4.4% – a startling contrast. Kia also achieved a rise in market share of 3.9%. In Europe, Toyota has already been over taken over by alliance partners Kia and Hyundai – although market makers claim they do not have a car that appeals to company car drivers.

Car drivers that have relied on purely sales in recent years have been suffering. Due to this Hyundai brought out its economic I-series of small cars and determined to ride the downturn. European governments introduced a scrappage scheme that would pay people to trade in old wrecks for small and fuel-efficient models such as the i10, i20 and i30 that gained popularity in Europe.

Customers also leant towards cars that united the ground clearance and high riding position of a rugged 4×4 car with the driveability of ordinary cars – but were fuel economical. Specifically successful in the market was the ultra modern Hyundai ix35. Following on from this the new design i40 has been aimed at company car buyers in Europe.

Hyundai has seen its sales rise to around 360,000 cars last year, raising its market share to 2.6% from 1.8% in 2008. This year they are hoping for a further 3% and by 2015 an immense 5%. Towards the end of 2011 as the private sector recovers and starts buying cars again it is predicted the i40 will be a major engine in the market. Hyundai will be definitely eyeing the luxury vehicle segment in the future according to industry sources. This is where profit margins are at the highest.

With its cars being significantly more refined than in the past, Hyundai is hoping to give its competitors a run for their money.

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UK based Insurance companies will be carefully monitoring a ruling in the the European Court of Justice which is due on the 1st March 2011. This EU ruling could stop insurers using gender as a rating factor when producing their pricing structures.

Insurance prices have always been based upon the frequency of claims and the cost involved with each claim – where a risk presented shows a higher likelyhood of claim a larger premium has been required.

When it comes specifically to motor insurance there are many factors taken into account when calculating the required premium. For example an insurer may have experienced more claims in a major city compared with a rural village and therefore would charge a higher premium in the major city.

Until now the same has always applied with gender. The Association of British Insurers figures show that claims arising from younger female drivers are over 30% less than a comparative male driver and therefore females generally pay less for their motor insurance.

If the EU decides that a person’s gender cannot form part of an Insurers pricing structure then insurers will have to raise female drivers premiums to the same price as male drivers because if the law is passed it would become illegal to differentiate.

In another potential twist the French administritive authority, Haute de Lutte contre les Discriminations et pour l’Egalite, has issued guidelines trying to prevent insurance companies using age, health or any other form of differentiation when pricing insurance policies – suggesting that it is a human rights issue rather than a risk based assesment.

An industry spokesman commented that if the French movement produced any kind of result, the whole insurance industry would have to take drastic action to maintain reserves. If the EU ruling was passed big investments would be required into different pricing structures meaning overall price increases across all types of insurance.

If the EU law is passed it could spell wide spread changes to a system of pricing that has served well for many, many years.

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Petrol & Diesel prices have reached an all time high, this has been confirmed by the most recent petrol price report released by the AA.

Hauliers are already feeling the strain of massive transportation costs, and more misery looks to be on the way with predicted rises in fuel duty costs in April. This is leaving smaller haulier firms wondering how their businesses can continue.

The average diesel price per litre is currently sitting at 134.07 pence, meaning the UK currently has the second highest diesel price in the whole of Europe. Overall it is looking like both Hauliers and couriers face another very tough year. The trouble in the Middle East means very uncertain times lie ahead with regards to the future price of fuel . With the April budget looming and the expected rise in fuel duty the transport industry is definately looking at a difficult 2011 – possibly though delivery and haulage costs could reach unworkable levels.

The UK is sitting at a better level when it comes to unleaded fuel compared to diesel. The average unleaded price is currently at 128.83 pence per litre which leaves the UK in 8th position in Europe. This still cannot sit well within the industry when compared to the United States – a recent study in California revealed an average unleaded price per litre of just 47 pence.

One recent initiative that has been set up to try to combat these seemingly never ending increases is the Fair Fuel UK campaign that is gathering a petition to take to Downing Street. It remains to be seen whether this will have any impact but something needs to be done!

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