Capricorn gives record profits back to members

Capricorn says it is Australasia’s largest automotive cooperative

While most organisations charge membership fees, Capricorn is doing things very differently, paying its Members a record $71 million in FY21. This included the recent announcement of a $15 million Trade Volume Rebate, distributed in proportion to Members’ use of their Capricorn trade accounts. The massive lump-sum payment represents a direct return of profits in what was another successful year for the cooperative. Capricorn says what makes the Trade Volume Rebate even more remarkable is that it is the fourth consecutive year that it has been paid; showing that “regardless of any global challenges, it’s more profitable to trade as a Capricorn Member.” Capricorn Group Chief Executive Officer, David Fraser, said the record returns were a testament to the strength of the cooperative. “This time last year I was talking about how being part of a cooperative can help our Members persevere through the pandemic,” David said. “A year later we’re still all living with COVID-19 and the uncertainty it brings, but another year of record returns makes it absolutely clear just how much better off you are as a Capricorn Member. “With more than 2,700 new Members joining us in the last year alone, I am confident these returns will continue to grow along with Australasia’s largest automotive cooperative, Capricorn.” Capricorn Members also received an additional $38.5m throughout the year in reward points. The Capricorn Rewards program returns 1.5 points on almost every dollar spent through a Capricorn trade account, with every 100 points equal to $1. Capricorn says this makes Capricorn Rewards one of the most generous rewards programs in Australasia. Members can choose to use their points to effectively discount their business expenses or redeem them for a range of merchandise and gift cards. As shareholders of the cooperative, Capricorn Members also received a total of $17.5 million via a very healthy seven percent fully franked dividend (representing a 10 percent return inclusive of tax benefits). Finally, eligible Members with risk protection provided through Capricorn Mutual shared in a $6 million “Loyalty Rebate.” This first-time rebate rewarded Members who have been with the industry-focused alternative to traditional insurance for three or more years. Capricorn explains that combined, these returns equate to thousands of dollars back in the pocket of the average Member – all for doing nothing more than choosing to trade through Capricorn’s network of Preferred Suppliers who offer instant trade credit and can provide almost every product and service an automotive business would need. For more information on how you can benefit and apply for Capricorn membership, visit capricorn.coop/join

ANCAP BESTOWS NEW 5 STAR RATINGS

Safer and greener choices with Hyundai IONIQ 5 and Volvo XC40 Recharge

Australasia’s independent voice on vehicle safety, ANCAP, has recently issued 5 Star ANCAP safety ratings for the Hyundai IONIQ 5 electric vehicle, and two new alternative-powered variants of the Volvo XC40 – the T5 Recharge PHEV and T8 Recharge EV. The traditionally-powered Hyundai Tucson has also been awarded a 5 Star rating. The Hyundai IONIQ 5 provides the full complement of active and passive safety features and technologies to enable it to score the top star rating to the latest ANCAP criteria. High scores were achieved in the full width frontal test, which features two smaller-statured female crash test dummies; the side impact test, which simulates the effects of a T-bone intersection crash; and the oblique pole test, which evaluates the risk of head injury to the driver should the vehicle run off the road and strike a tree or pole. The design of the IONIQ 5 was also assessed for its ability to not only protect its occupants in a crash, but also the occupants of other vehicles it may come into contact with. Pleasingly, the IONIQ 5 presented an impressively low risk to the ‘crash partner’ vehicle with a minimal 0.22 point penalty applied – the best score ANCAP has observed in this assessment area since vehicle compatibility scoring was introduced in 2020. The newly-released plug-in hybrid (PHEV) and pure electric variants of the Volvo XC40 carry through the same 5 Star ANCAP safety rating as awarded to its petrol and diesel model mates rated by ANCAP in 2018. This rating extension follows additional testing undertaken on the alternativepowered T5 Recharge and T8 Recharge variants to ensure equivalent levels of safety performance. “To ensure safety is not compromised for consumers wanting to buy an alternative-powered vehicle, for battery and hybrid electric vehicles we conduct additional checks to make sure they don’t pose unique risks such as battery rupture or electrical hazards to the occupants or first responders,” Carla said. “This gives consumers peace-of-mind and assists fleet buyers in meeting their safety and environmental targets.” The Hyundai Tucson also achieved a 5 Star ANCAP safety rating following its release into the Australian and New Zealand markets earlier this year. Similar levels of safety performance to that of the IONIQ 5 were seen with the Tucson. Higher variants of the Tucson offer a child presence detection (CPD) system which provides the driver with an audible alert if movement is detected in the second row seats after the ignition has been turned off and the car locked. CPD systems will begin to be formally assessed by ANCAP and contribute to a vehicle’s overall safety rating from 2023. Full details can be viewed at www.ancap.com.au/safety-ratings NOTE: Public health requirements and state-based lockdowns have impacted ANCAP’s test program during 2021 resulting in delays to the conduct of testing and publication of ANCAP safety ratings for a number of vehicle models.