Latest news with #DerrenMartin
Yahoo
21-05-2025
- Automotive
- Yahoo
Used car retail values resilient despite minor dip, says PVI
Retail values for 3–4-year-old cars have seen only a modest decline despite increasing supply, as the UK's used car market remains resilient, according to the latest data from Percayso Vehicle Intelligence (PVI). The analysis shows that retail values for popular 3–4-year-old models with fewer than 75,000 miles dropped by just 1.5% year to date, which PVI attributes to sustained supply constraints stemming from the COVID-19 pandemic. Stock levels in this age bracket have been rising since March, but values remain underpinned by limited availability. 'There are approximately three million fewer used cars in circulation than we would typically expect,' said Derren Martin, senior market analyst at PVI. 'This fundamental supply constraint continues to support values.' Retail valuations rose in January and February, with February recording the strongest gains. Values dipped slightly in March and fell by a further 1.6% in April, contributing to the overall YTD decline. Martin described this as a 'minor adjustment' that reflects a 'very robust market'. Late-plate vehicles (2024–2025 registrations) have also shown firm performance, with values up 2% YTD. Martin said this segment has faced less downward pressure from pre-registered stock and benefited from the easing of Zero Emission Vehicle (ZEV) mandate targets. 'Values are holding up well, with only a negligible softening observed in April,' he noted. Hybrid vehicles continue to outperform the broader market. Retail and trade values for hybrids – including plug-in models – have increased by nearly 4% YTD, supported by steady volumes and strong consumer interest early in the year. 'Hybrids are proving to be the sweet spot for many consumers,' Martin said, noting that they appeal to drivers not yet ready to switch fully to battery electric vehicles (BEVs). Electric vehicles remain the most volatile segment. While advertised volumes are rising, values have fluctuated. Martin said valuation trends in the EV sector are difficult to summarise, with some models offering value compared to internal combustion engine counterparts, while others still appear overpriced. 'Consumer demand for used EVs is not yet keeping pace with the growing supply,' he said. PVI's analysis concludes that while overall values have softened slightly, the used car market continues to be shaped by post-pandemic supply issues and divergent trends across powertrains. 'The differing fortunes of EVs and hybrids, set against a backdrop of constrained supply for younger used cars, will continue to shape the market in the coming months,' Martin said. "Used car retail values resilient despite minor dip, says PVI" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-02-2025
- General
- Yahoo
Fire station out of action twice over staff issues
A Surrey fire station was out of action on two separate occasions in December and January due to staff shortages. Camberley Fire Station was twice left without an operational crew during change-over periods due to a lack of cover. The Local Democracy Reporting Service said the admission came during questions from the public at a recent meeting of Surrey Heath Borough Council. Surrey Fire and Rescue Service said the issue was temporary and the service's "response offer to communities" was not affected. Raising the issue was Derren Martin, who said: "Camberley Fire Station has been closed due to staff shortages, largely because the station is now operating with just one fire engine crewed by four firefighters - a reduction of 30 firefighters since the station opened in 1967." Mr Martin said the rising population, and fire cover "now at its lowest ever", could cost lives. Rob Lee, chairman of the council's external partnerships select committee, responding on behalf of the fire service, said: "I would like to reassure the questioner and the public that there was fire and rescue cover in place for the whole of Surrey during periods when Camberley Fire Station was not crewed. "Whilst the crew who begin and end their shifts at Camberley Fire Station were temporarily not on duty on two occasions between December 2024 and January 2025… this did not affect the services' response offer to communities." Surrey Fire and Rescue service is managed by Surrey County Council meaning it has overall responsibility. During the closures, the on-call Chobham Fire Station remained available for deployment. On both occasions, there were no critical incidents within the Camberley area. Follow BBC Surrey on Facebook, on X. Send your story ideas to southeasttoday@ or WhatsApp us on 08081 002250. Banstead Fire Station move postponed until 2026 Fire station redevelopment delayed until 2025 Surrey Heath Borough Council Surrey Fire and Rescue Service Surrey County Council
