UK’s transport revolution gathers pace

Published:  31 January, 2017

Emerging technologies are increasingly expected as standard as the UK’s transport revolution gathers pace. Connected customers are forcing manufacturers to take note as calls for an enhanced passenger environment, with touchscreen ability and wi-fi accessibility, become more mainstream.

The level of technology that comes as standard on most vehicles today is significant, with many consumers expecting to see Sat Nav, Bluetooth, GPS tracking and cruise control on even the basic models.

As driverless technology takes hold, the same will apply to the whole vehicle. Cars will become portable work stations, communications tools, a quiet space in which to connect to the wider world virtually.

Such advances are the focus of the latest chapter release from ALPHERA Financial Services’ industry-leading report, ‘Financing the Car of the Future.’

‘A connected future: financing mobility’ explores the new type of automotive industry that is evolving; one that is focused on the passenger experience, environmental performance and fuel economy.

It highlights the transport revolution that is underway, such as the adoption of autonomous technology in cites, and mobility issues like the ongoing London Black Cabs ‘The Knowledge’ exam debate and the resulting rumble with Uber drivers. It looks at fleet mobility solutions, reflecting a desire among companies to adopt cost-effective and environmentally-friendly solutions in terms of workforce mobility, and explores the importance of investment into the transport industry if the UK is to remain a sector leader.

Contributor Steve Rowe, head of finance and insurance at Pendragon, said: “Technology like lane assist and self-parking is already commonplace but will continue to evolve, while fully autonomous vehicles are not far down the horizon. The insurance sector has a way to go in order to catch up and a global approach is needed to ensure consistent technology as well as consistent law-making.”

Alphera’s report profiles the many opportunities for the motor finance sector over the coming decade. It brings together a variety of diverse voices from across academia, trade bodies, dealer networks, brokers and automotive suppliers, prompting far-reaching debate across the industry. Previous chapters covered alternatively fuelled vehicles and the conceptualisation of thought leadership.

The initial ‘Financing the Car of the Future’ report was launched at Alphera’s 10th anniversary in December. For more information, visit: www.alphera.co.uk/10-years-alphera.

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