Alternative fuel cars show the biggest year-on-year price increase
Auto Trader’s retail price index has revealed that there’s been a strong gain in the market for alternative fuel cars, currently showing the highest year-on-year growth compared with petrol and diesel models.
The retail price index shows tracks the market value of all cars advertised by retailers on Autotrader.co.uk. It shows the changes driven by supply and demand for different makes, models, segments and fuel types.
The data for November 2015 has revealed there are 3,000 more alternative fuel cars in the market compared to 2014, a 62% increase, which brings the market share for alternative fuel cars up to 1.12% from 0.76%.
The average price for alternative fuel vehicles has risen by 6.5% due to increasing demand and marketplace mix. Diesel cars were the only fuel type to decrease in value with buyers paying £124 less on average for a car. This is down to the increased market share and, for the first time, brings average diesel prices below petrol.
Karolina Edwards-Smajda, Auto Trader Retailer and Consumer Products Director, said: “One of the most interesting observations for the year-on-year November period has been the rise in market share of alternative fuel vehicles, giving the industry more insight into the UK’s growing appetite for electric and hybrid vehicles.
There’s been a big drive from most of the manufacturers to launch desirable alternative fuel cars which is set to grow further, only recently Ford announced its plans for large-scale investment into this area.”
This latest data also reveals two distinct trends within the alternative fuel vehicle segment. Hybrid cars are depreciating the least initially compared to other fuel types, but trends are showing signs of depreciation eventually levelling out at rates similar to petrol and diesel models.
Edwards-Smajda, added: “Despite the positive outlook for hybrid car depreciation, we are seeing very different trends with electric vehicles, as the latest data shows electric cars depreciating at much higher rates – especially within the first two years – losing value much quicker than hybrid, petrol and diesel cars.”
Fluent.ai x BSH: Voice Automating the Assembly Line
Fluent.ai has deployed its voice recognition solutions in one of BSH’s German factories. BSH leads the market in producing connected appliances—its brands include Bosch, Siemens, Gaggenau, NEFF, and Thermador, and with this new partnership, the company intends to cut transition time in its assembly lines.
According to BSH, voice automation will yield 75-100% efficiency gains—but it’s the collaboration between the two companies that stands out. ‘After considering 11 companies for this partnership, we chose Fluent.ai because of their key competitive differentiators’, explained Ion Hauer, Venture Partner at BSH Startup Kitchen.
What Sets Fluent.ai Apart?
After seven years of research, the company developed a wide range of artificial intelligence (AI) software products to help original equipment manufacturers (OEM) expand their services. Three key aspects stood out to BSH, which operates across the world and in unique factory environments.
- Robust noise controls. The system can operate even in loud conditions.
- Low latency. The AI understands commands quickly and accurately.
- Multilingual support. BSH can expand the automation to any of its 50+ country operations.
How Voice Automation Works
Instead of pressing buttons, BSH factory workers will now be able to speak into a headset fitted with Fluent.ai’s voice recognition technology. After uttering a WakeWord, workers can use a command to start assembly line movement. As the technology is hands-free, workers benefit from less physical strain, which will both reduce employee fatigue and boost line production.
‘Implementing Fluent’s technology has already improved efficiencies within our factory, with initial implementation of the solution cutting down the transition time from four seconds to one and a half”, said Markus Maier, Project Lead at the BSH factory. ‘In the long run, the production time savings will be invaluable’.
Future Global Adoption
In the coming years, BSH and Fluent.ai will continue to push for artificial intelligence on factory lines, pursuing efficiency, ergonomics, and a healthy work environment. ‘We started with Fluent.ai on one factory assembly line, moved to three, and [are now] considering rolling the technology out worldwide’, said Maier.
Said Probal Lala, Fluent.ai’s CEO: ‘We are thrilled to be working with BSH, a company at the forefront of innovation. Seeing your solution out in the real world is incredibly rewarding, and we look forward to continuing and growing our collaboration’.