LONDON : A broad coalition of insurers, leasing companies, car repair shops and others are calling on the European Commission to propose rules for fair access to valuable vehicle data soon, fearing further delays could see the initiative shelved after European Parliament elections in 2024.Companies in Eur
LONDON : A broad coalition of insurers, leasing companies, car repair shops and others are calling on the European Commission to propose rules for fair access to valuable vehicle data soon, fearing further delays could see the initiative shelved after European Parliament elections in 2024.
Tim Albertsen, chief executive of leasing company ALD, which relies on vehicle data for a wide range of services, said if sector-specific legislation was tabled now, it could be passed before the 2024 election. Ten industry groups also wrote to European Commission President Ursula von der Leyen in January urging an end to"repeated delays".
The leasing company also operates a"pay-how-you-drive" insurance product that rewards good driver behaviour, as does rival Arval, a unit of BNP Paribas. "If there's no more access to data," said CEO Aaron Solomon,"we'll have to find a different business". Meanwhile, automakers such as world No. 3 Stellantis have their own big data plans. It expects to generate 20 billion euros annually by 2030 from software products and subscription services.
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