5 Trends in the Car Market to look out for in 2021

Published 13 January 2021
in Advice
Lorem ipsum dolor sit amet news article image

With Brexit firmly behind us, Pike + Bambridge MD, Piers Bambridge, looks at some of the key trends we expect our clients to experience in 2021.

 

5 trends to take advantage of in 2021: 

  • New technologies – whether it be premium large SUVs with over 60 miles of electric range (Mercedes GLE “e”) or electric vehicles such as the Mercedes EQC that could cut your fuel bills by two thirds, 2021 looks set to be the year of mass adoption of the new world of automotive technology. 
  • Whilst this is clearly something to celebrate, in terms of the ever-increasing pressures on our planet with regards to the climate crisis, we’re concerned that many of the suppliers in the market place aren’t taking the right amount of time to properly guide clients through their options and the relative merits and risks associated with leasing a new electric or hybrid car. Aggregator sites, and ‘price match challenge’ websites simply don’t have the capacity to conduct a thorough and detailed analysis of what suits the client best.  We believe our industry unique Fact Find Hour offers the most complete examination for our clients to make the right choice for the long-term, not just for today.
  • Manufacturers need to bounce back from 2020 in terms of sales, and as well as offering their own incentives, we are seeing an increasing number of manufacturers selling batches of cars very cheaply to leasing companies. One such example at time of writing is the hottest electric car on the market at present, with Volkswagen having sold over 400 cars to BNP Paribas’ leasing arm, Arval, who Pike + Bambridge broker for.  These cars are far better-priced through Arval and P+B than any Volkswagen dealer can offer through Volkswagen Finance, another example of the upside down world of car supply in 2021.
  • Tax incentives and grants – the UK Government commitment to net zero is great news for electric car buyers, but there are a myriad of rules and no small amount of paperwork involved to ensure you maximise your opportunity to save money. We help clients navigate the complex world of making decisions on new automotive technology in combination with the tax implications of those decisions. 
  • Pike + Bambridge’s growth! 2021 is set to be P+B’s biggest year of growth since we started. We’re fortunate to have a high percentage of our clients stick with us when it comes to renewal, meaning even greater buying power from the premium manufacturers we specialise in. Our expert, consultative approach is allowing customers to save both time and money in the world of electric and hybrid.

 

In summary, 2021 has huge opportunities for consumers and businesses alike to make smarter decisions around their car mobility, but the decisions are complex, and may have 3-4 year impacts. 

Making an ill-informed choice is something that many car-buyers may regret in the coming years, as the pace of technological development accelerates like no time in the last 100 years. Business may also rue the missed opportunities to make significant tax-efficient savings, and offer a more complete employee offering to their teams.

 
As ever, do get in touch if you’d like to know more about how our expert team is here to help save you time and money.