HPI saves £122m worth of vehicles
Nearly £122m of uninsured vehicles were saved from potentially being crushed in 2018, the highest it’s been for 10 years, including supercars such as Lamborghinis, Ferraris, Bentleys and Aston Martins.
High-value vehicles that had been confiscated from uninsured drivers were among those saved from being auctioned or scrapped last year, according to the latest figures released from automotive experts HPI through its innovative Crushwatch scheme. The 2018 figure is the highest it’s been for ten years since Crushwatch was first introduced.
The £122m figure is up a massive £28m on 2017’s figure of £94m, making it the highest ever recorded total value of vehicles saved in the 10 years since Crushwatch came into force.
The high-value vehicles were among more than 109,000 cars that were seized by police across the UK after their drivers were found not to have valid insurance, of which over 13,000 belonged to finance and leasing companies. Without Crushwatch the cars would either be sold on, often via auction or scrapped, without the finance company ever being aware.
Barry Shorto, head of industry relations at HPI, said, ‘In the 10 years since the introduction of Crushwatch these are the highest set of annual figures we’ve ever seen which shows the number of uninsured drivers on UK roads remains high. Since Crushwatch started, the total value of the cars recovered runs to well over £1/2bn and this highlights the important role that it plays in the process of clamping down on drivers who think they are above the law.
‘The data identifies the growing need to crack down on these drivers who are causing a risk to other road users and pedestrians by getting behind the wheel without insurance. However, stamping out this practice is more than just a serious safety concern, it’s also about enabling finance companies across the UK to reclaim their vehicles which otherwise may have ended up at auction or on the scrap heap.’
