Tag Archive: Car News

  1. 2024 Motoring Trends Predictions

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    Technological innovations are advancing rapidly while environmental concerns grow, shifting the way cars are manufactured, sold, repaired, driven and insured. Following extensive market research, we have rounded up the top five motoring industry trend predictions for 2024 here.

    1. Electric Vehicles Will Dominate

    The worldwide shift to electric vehicles (EVs) will continue apace, with Bloomberg New Energy Finance predicting EVs to account for 10% of all new car sales by 2025 and 58% by 2040. With several countries setting out to achieve net-zero emissions by 2050, it’s estimated that EVs will need to make up at least half of all new car sales by 2050. This will likely accelerate the adoption of EVs across various market segments, including commercial transportation – where efficient, eco-friendly options are in high demand. Initiatives like increasing battery efficiency (leading to extended driving ranges and faster charging times) and improving EV charging infrastructure will be required to facilitate the growth.

    Matt Wood, Director of Data and Pricing, said: “With the shift to EVs, vehicle insurers will need to consider a huge variety of factors. The total value of the vehicle, details of the driver, plus other aspects such as the potential cost of repairs for the vehicle will all impact insurance premiums. Insurers will need to find the right balance between a fair price for comprehensive cover and not disincentivising consumers to choose an EV.” 

    2. Autonomous and Semi-Autonomous Vehicles Take Over

    It’s estimated that by 2040 there will be 33 million autonomous (or self-driving) vehicles on the road, with the global autonomous vehicle market currently valued at $207.38 billion. Automakers like Tesla, Alphabet, Ford, and Volvo have all entered the autonomous vehicle space in recent years, and it’s expected to grow by roughly 10 times in the next 6 years. The integration of more sophisticated AI algorithms and machine learning models is expected to enhance the decision-making capabilities of autonomous vehicles, to not only improve safety features but also enable these vehicles to handle complex driving scenarios. But consumer and regulatory concerns represent a huge barrier to this growth – with 70% of respondents in a recent survey reporting they would be uncomfortable travelling in an autonomous vehicle with no human control. With public opinion of autonomous cars remaining divided, there’s still a way to go before the technology is adopted.

    Chris Penfold, Director of Underwriting, said: “Advancements in the autonomous vehicle space have been incredible, but from an insurance perspective, there’s still a long way to go. It will be some time before self-driving cars are common on our roads, and insurers in the UK will be carefully planning the insurance implications that they bring whilst keeping a close eye on the global insurance market for such models. Aside from insurance, autonomous vehicles have a PR problem to overcome before they win the trust of the public…”

    3. Connected Cars

    Connected cars are vehicles with the ability to communicate with other software systems and collect data from their surroundings. With 5G and the Internet of Things continuing to grow, the number of connected cars on the road has risen significantly – with an estimated market value of approximately  $103.24 billion. This number is expected to grow to $191.83 billion by 2028, driven by the adoption of 5G technologies and rapid advancements in edge computing, where data collection and processing occur in close proximity, meaning vehicles can gather and process data in real time. With Google and Ford announcing Team Upshift – their connected car partnership – and Apple planning to manufacture an autonomous Apple electric car in partnership with Kia, connected cars are well and truly on their way. In 2024 and beyond, cars will be more like mobile computers.

    Phil Evans, Commercial Director, said: “Long gone are the days of scrabbling around the glovebox for your favourite CD – connected cars represent an utterly intuitive driving experience. Syncing your tech with your car and no longer struggling for signal will soon be the norm, whether you’re particularly tech-savvy or not. From an insurance perspective, ever-increasing amounts of valuable tech in cars could see prices start to increase, but equally having the potential to provide insurers with data about how well you drive could do the opposite…”

    4. Vehicle Purchasing Moves Online

    Over 90% of car buyers undertake online research before a transaction, with more and more sales taking place completely online. In this way, the internet is radically affecting every part of the car-buying process – and posing a real threat to the traditional car dealer business model, with 83% of car customers stating that they wish they could save time by shopping online. It’s also worth considering that oil prices are projected to rise in 2024, which means SUVs and other less fuel-efficient vehicles could be less expensive to purchase, as consumers will want to avoid buying a vehicle with a hefty fuel bill. This may make used hybrid models more affordable compared to other automobiles on the market. It’s also expected that existing electric cars will become more affordable as the technology becomes cheaper – with Ford, Nissan and Renault all lowering the price of their EVs already. Buyers should leverage online resources like car comparison tools, customer reviews and expert opinions to make the most informed decision before purchasing. 

    Graeme Stoker, Director of Marketing, said: “Whilst it’s an efficient approach to purchasing a car, consumers need to be mindful of sacrificing quality and peace of mind, to save time. From an insurance perspective, buyers need to make sure they’re aware of anything that could impact their insurance price when buying a car, such as any vehicle modifications, or where a model has expensive options fitted. It is more important than ever to properly do your research if you’re buying a car online or you could be in for a nasty (and expensive) shock.”

    5. Luxury Car Market Growth

    The majority of auto manufacturers have experienced challenges over recent years, but high-end luxury brands have experienced a great deal of success, with the luxury car market predicted to grow up to 14% compound annual growth rate (CAGR). Rolls-Royce, Bentley and Lamborghini have all seen record profits, whilst Tesla – a more affordable high-end brand – has seen registrations rise more than 65%.

    Andy Moody, Founder and Managing Director, said: “Insuring high-end vehicles is an expensive business. With skyrocketing theft and increasing premiums, the cost of insuring a luxury car is becoming prohibitive for the vast majority of drivers… As the Insurance Times Personal Lines Broker of the Year 2023, we know first-hand that expensive, luxury vehicles can have some of the highest insurance premiums around, and increasing costs of repair are also impacting prices. Our advice is to borrow a friend’s car and temporarily insure it to get that luxury driving experience at an affordable cost.”

    Whatever your plans for the upcoming year, get on the road in 2024 with our temporary car insurance – secure your quote in less than 90 seconds today.

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  2. Impounded Vehicle Numbers on the Rise in the UK

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    Our latest research exclusively reveals the amount of impounded vehicles in the UK has reached almost 200K (197,000), which is a YoY increase of over 7,000 impounded vehicles!

    As we have launched our new impound release insurance, we wanted to look into how many vehicles are being impounded across the UK. After sending FOI requests to Police constabularies, we learned that cases of impounded vehicles have risen year on year, with some regions in particular seeing some dramatic rises in cars being taken into police custody.

    Regions with the Highest Increases

    Taking first place for highest offending region is South Wales, seeing a whopping 35 percent rise, the equivalent of over 2,000 more vehicles in 2022 vs 2021 were impounded here. Also making the top three, are Gwent and North Yorkshire, with 30 percent and 26 percent increases in cases of impounded vehicles.

    In fourth place, Cumbria saw a 20 percent increase and in fifth, Devon and Cornwall saw a 15 percent increase.

    The increase in impounded vehicles could be a reflection of insurance prices skyrocketing by an average of 58% in the UK. Drivers may be risking driving without insurance due to the struggle to meet the costs, which would result in their vehicle being impounded if caught by the law.

    GoShorty’s Impound Release Insurance

    To help drivers get their impounded vehicles back on the road, GoShorty has introduced an all new impounded vehicle release insurance. This 30-day impound release insurance policy allows drivers to take their vehicle out of a police impound ASAP and get it home, avoiding a £26 a day charge.

    Annual insurance and regular temporary insurance policies do not cover impound retrievals, making impound release insurance a necessary purchase for those in this situation, and with GoShorty, doing this is easier than ever.

    Andy Moody, Founder and Managing Director of GoShorty commented:

    “For those who are unfortunate enough to have their vehicle impounded, GoShorty are happy to say we now have a dedicated single-purchase 30-day temporary insurance policy for the release of impounded vehicles. 

    “Usually, getting insurance for an impounded vehicle is a difficult task over the phone, but now you can sort it with us quickly and simply online in less than 2 minutes.

    “It’s within a driver’s best interest to get their vehicle out of the impound lot ASAP, failure to collect the vehicle within 14 days could lead to it being scrapped or sold, which is why we have created this valuable policy.”

    GoShorty now provides impound release insurance to help you get back onto the road as quickly as possible. As well as flexible short-term insurance for cars and vans; find one hour insurance, one day insurance or even car insurance for a month, our flexible options keep you safely covered exactly when you need to be, hopefully avoiding you being impounded again. 

    Methodology

    FOI requests issued to Police constabularies, requesting yearly data on impounded vehicles. With thanks to the following constabularies: Dundee, West Yorkshire, GMP, Lincolnshire, Hertfordshire, Bedfordshire, South Yorkshire, Cambridgeshire, Cumbria, South Wales, Northants, Dorset, Devon and Cornwall, Essex, Avon Somerset, MET, Stafford, Surrey, West Mercia, City of London, North Yorkshire, Wiltshire, Gwent, Leicestershire.

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  3. Highway to Hell: Is Road Rage on the Rise?

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    We have carried out research that has revealed that the number of incidents of road rage in the UK reported to the Police saw a 40 percent increase from 2021 to 2022. 

    Using data from 20 separate UK Police constabularies and a survey of 2,000 Brits, we have explored the darker side of motoring – looking specifically into road rage incidents and bad driving habits.

    Road Rage Incidents Skyrocket

    In 2021, there were 2,282 incidents of road rage reported to the Police – whereas in 2022, this number jumped up 40 percent to 3,208. Road rage can land drivers with an assault charge, and even endanger the validity of a driving licence if drivers face prosecution for becoming seriously aggressive. Our research found that the areas in the UK where road rage has seen the biggest spikes from 2021 to 2022 are:

    • Lancashire +198%
    • West Mercia +56%
    • Leicester +13%
    • Cambridgeshire +6%
    • South Wales +4%

    According to our own Survey, 89 percent of Brits said they had encountered rude drivers with bad habits and behaviour whilst on the road. Sadly, plenty of drivers show little remorse for their rudeness, with over a fifth (24 percent) stating that they have never regretted being rude behind the wheel. Many drivers appear to shift the blame from themselves too, with 36 percent admitting they’ve picked up their bad driving habits from other drivers.

    The Worst Driving Habits

    Every driver experiences moments of frustration and annoyance on the road – whether it’s warranted by others’ bad driving, or just as a result of a specific dislike they personally harbour. Lane hogging, anyone? 

    The top five worst habits, according to British drivers, are:


    Braking suddenly to scare the person behind you.

     


    Tailgating someone on purpose because they drive too slow.

     


    Not pulling over for emergency service vehicles.

     


    Overtaking and then going slowly.


    Throwing rubbish out of the window.

    54 percent of respondents admitted to committing at least one of the acts mentioned above whilst driving. Due to other road users’ bad behaviours, 21 percent of the survey respondents claimed they have taken a break from drivin

    What Do the Experts Say?

    Andy Moody, Founder and Managing Director of GoShorty, said:“Our research reveals that many drivers are experiencing road rage, as both perpetrators and victims of rude, antisocial behaviour on the roads – which clearly isn’t good for anyone. The revelation that this is actually learned behaviour is also concerning, particularly as it is then dissuading people from driving because of their past experiences with rude road users. 

    “It might not offer a complete solution to policing the UK’s anger issue, but our short-term insurance gives drivers the freedom to borrow friends’ or family members’ vehicles, actually encouraging better behaviour amongst drivers. 78 percent of the Brits we surveyed said that they’re more likely to show respect to other drivers and avoid any rude behaviour if they’re behind the wheel of a borrowed car!“

    With the help of short-term car insurance, we may be able to lessen the amount of vehicles on the road, whilst also reducing the amount of time each driver spends behind the wheel. Hopefully lessening the rising road rage the roads of the UK are becoming home to.

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  4. UK Car Essentials – What do you need to keep in your car?

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    Owning a car can be an expensive thing to do. With many cars, something new seems to go wrong every month. You can’t always predict what is likely to go wrong, but you can prepare yourself and the car for when it does. Keeping a few car essentials in your vehicle can help you be ready for most eventualities.

    Spares

    One of the hardest things to predict is the easiest thing to prepare for. If you get a puncture, or your tyre bursts entirely, you could be left stranded for a long time on the side of the road. Preparing for any eventualities gives you the confidence that you will be ready if the time comes.

    Many cars come with a spare tyre, or with a tyre repair kit. However, you should not assume that your spare is suitable, or will even fit your car. Familiarise yourself with how to change a tyre, or with how to use your repair kit. Make sure that you also have all of the appropriate kit you need. If you need a tyre jack, then ensure that you have the correct equipment.

    Gauges

    You can’t always predict a flat tyre. However, you can prepare your tyres, and try to keep them in a state that lessens the risk of getting a flat tyre. Essential to this is keeping your tyres correctly inflated. Keeping your tyres either too inflated or not inflated enough can cause damage.

    Make sure that you keep a tyre pressure gauge / foot pump in your car. Somewhere on your car, usually inside the door, your car is likely to have a sticker indicating the correct pressure levels. Keep your tyres at the right level of pressure, and you could reduce your chances of needing the spare.

    Manual

    It can be tempting to assume that you can look up anything you need to know on your phone. After all, a quick Google search always seems to turn up the answers you are looking for. However, this is not always the case. If something goes wrong with your car, a Google search will often not show up the answer you need. Equally, if you are in a remote area, or your phone is out of battery, you might not even be able to access the internet.

    If you keep your car’s manual with you in the car, you will always have access to the answers you need. Sometimes the oldest ways of solving problems are still the best.

    Breakdown

    If you break down, you need to be prepared. While you are unlikely to break down, you can prepare to make the process easier, in case you do. There are not the same regulations about breaking down in the UK that there are in some other European countries. However, while they are not regulations, it is often worth following the same guidelines.

    Wearing a Hi-Vis jacket when you break down can be the difference between another motorist seeing you in advance, and you having a serious accident. Equally, warning triangles can alert approaching traffic that you have broken down ahead.

    Atlas

    Satellite Navigation seems to have entirely defeated the traditional paper map. After all, how often do you break out the road atlas when you are trying to plot a route? However, using your phone or a sat nav system is not always possible. If you get caught out in the countryside and you have no signal, or you run out of power, technology might not be the best way out of your difficulty.

    Keeping a traditional paper Road Atlas in your car doesn’t take up much space. However, an atlas can help you out regardless of where you are – and it never runs out of battery.

    Insurance

    You cannot prepare for everything. No matter how many car essentials you have prepared, sometimes you are going to have an accident, and there isn’t much you can do about it. That’s where your insurance comes in. While you are only required to have third party insurance, it is always worth having a higher level of cover. Short term car insurance from GoShorty is fully comprehensive. That means that if you have an accident, your insurance will cover damage that your car suffers.

    Temporary car insurance from GoShorty can cover you from 1 hour to 28 days. That means that you only need to get cover for the time that you need, and not waste money insuring a car when you don’t need it.

    Get a temporary insurance quote today, and see how much you could save.

  5. Five Easy Ways to Save Money When you Drive

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    Running a car is an expensive process. While electric cars might offer a cheaper future, most people still use traditional cars that use fossil fuels. Traditional fuels are getting more and more expensive for most drivers – along with the associated costs of owning a car, like insurance and tax. All of this means that drivers all across the country are looking for ways to save money when they drive. Here are five easy ways to save money on your driving costs.

    Drive Sensibly

    One of the easiest ways to save money on your car is to change how you drive. Different ways of driving use more or less fuel. Driving smoothly – not speeding up, slowing down or changing gear too quickly – is an effective way to use less fuel.

    Going slower is also an easy way to use less fuel and save money. Generally, the speed limit is a good measure. While you should be sticking to the speed limit anyway, going at 70mph rather than 60mph uses 9% more fuel. Going 80mph (even on the motorway) uses 25% more fuel than going 70mph.

    Care for your Car

    Cars that are not maintained tend to use more fuel than those that are kept well looked after. Make sure that you service your car every year. Minor issues with engines or valves can contribute to inefficient use of fuel, and as a result, higher costs.

    You should also make sure that your tyres are all in top condition. If any of your tyres have damage, an incorrect tread depth, or are incorrectly inflated, then you will have a correspondingly worse fuel efficiency. Defective or damaged tyres cost you money.

    Carry Less

    Everything you put on or in your car is weighing it down. Heavier cars go slower, and use more fuel. An estimated extra 50kg of fuel makes a car 1-2% less fuel efficient. This sort of weight is easy to achieve in a car. Attachments to your car that should be temporary are easy to forget about. Roof bars and cycle racks should be removed when not being used, as they are heavy.

    Shop Around

    Fuel costs can vary wildly between different areas, and different petrol stations. Finding the best deals in your local area is an easy way to reduce your potential driving costs. Generally, fuel from supermarkets is cheaper than from both chain and independent petrol stations. It is also often possible to get vouchers for cheaper fuel when you shop at the same supermarket.

    Drive Less

    Perhaps the easiest way to save money when you drive is to use your car less. This might sound counterproductive, but you should start to ask yourself if you need to drive everywhere. If you can walk or cycle to a nearby destination, you should do. Equally, if it is possible for you to split a journey with a friend or neighbour, car sharing can be a great way to save money.

    Insurance from GoShorty

    Temporary Car Insurance from GoShorty is perfect for saving money. If you only use a car occasionally, you don’t need to be insured for the whole year. Save money all year round by only paying for short term car insurance when you need it. If you share a car, or borrow a car from a friend or relative, you can insure yourself for between 1 hour and 28 days when you need to use it.

    Get a temporary insurance quote today, and see how much you could save on your car insurance with temporary cover from GoShorty.