All articles by Antonio Fabrizio
Antonio Fabrizio
BVRLA: Budget should extend tax benefits to lessors
The British Vehicle Rental and Leasing Association (BVRLA) has asked the UK government to extend to leasing companies its support for early adopters of electric vans. The trade association said that in its forthcoming Budget, the Treasury should include lessors among the beneficiaries of a 100 percent first-year allowance to enable firms buying electric vans to offset their full cost against their corporation tax bill in the first year.
HPI teams up with FLA to build CrushWatch tool
HPI has developed a tool to help motor finance companies protect their assets by reclaiming vehicles before they get crushed. The vehicle information company said it has worked in partnership with the Finance and Leasing Association (FLA) to build the HPI CrushWatch tool, in response to a protocol agreed between the Association of Chief Police Officers and the FLA. The company said it recently recovered three vehicles worth in total more than £100,000 to motor finance companies, including an Audi R8 valued at £64,000
Manheim: used van prices still increasing
Used van values continued to increase in January 2010, Manheim Auctions said. The vehicle auctioneers latest monthly analysis shows that van prices increased by 4.1 percent (or £150) to £3,844 compared with December 2009.
Engaging customers online key for captives
A captives website strategy is mainly focused on visibility, so that customers can easily find information about financing before they actually walk into a dealership to purchase their new car
LeasePlan posts lower profit, sees recovery
LeasePlan recorded a net profit of 165 million in 2009 (down from 202 million in 2008), but started to see recovery in the second half of the year. The Dutch lessor said that the profit drop derived from reduced prices for end of contract cars, which led to a loss of 97 million, and larger-than-usual impairment for receivables of 56 million. The company said that overall exposure to credit risk remained modest, as witnessed by an average impairment for receivables of 20 bp of average risk weighted assets over the past 4 years.
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Lombard scoops major van deal with GreenThumb
Lombard Vehicle Management (LVM) has been selected by national lawn treatment business GreenThumb to fund and supply a fleet of 800 vans on exclusive basis. The new vans, VW Caddy Maxi 1.9 Tdis, are expected to reduce fuel consumption by 15 percent and CO2 emissions by 25 percent over the existing fleet.
CHP Consulting launches ALFA v5
UK asset finance software specialist CHP Consulting has just released ALFA v5, the latest version of its flagship end-to-end software ALFA. Officially introducing the new version earlier this month at Londons iconic Gherkin, CHP Consultings sales and marketing director Andrew Denton said: Based on what the industry told us, we decided to change ALFAs technical platform to make use of new technologies so we could deliver more.
NetSol signs contract with BMW Financial Services
Software house NetSol Technologies has signed an Independent System Review (ISR) and Testing Services contract with BMW Group Financial Services. The contract, which covers the Asia-Pacific region, is for the comprehensive testing of a newly developed financial application suite to be deployed in at least eight countries. NetSol said that the ISR and Testing Services enable customers to assess developed applications prior to full systems migration, identifying application problems before an application engages a full scale deployment.
Daimler FS posts ?167 million loss in Q109
Daimler Financial Services posted a loss of 167 million (£150 million) in Q1 2009, and saw new business reduce by 12 percent in the same period The Berlin-based company, which provides financing for Daimler Groups brands in over 40 countries, reported an EBIT loss of 167 million, compared to a profit of 168 million (£151 million) last year, primarily due to charges resulting from increases in risk provisions.
Jaama: Ogilvie contract
Leasing and fleet management company Ogilvie Fleet has selected Jaamas Key2 internet-based software to manage its 9,000-strong fleet, it has been announced.