All articles by Claire Hack
Claire Hack
DealTrak inks agreement with Co-operative
The Co-operative Motor Group has signed a new three-year agreement for the supply of the Elite version of F&I system DealTrak123 The terms of the agreement will allow for additional consultancy and training services from dealer Nottinghamshire-based Dealer EXCEL. Andy Shuter, managing director of Frontline Solutions, which produces DealTrak123, said: Our system is really gathering pace at the moment, and we want to deliver added value to our Elite clients wherever we can
VIPDATA comments on market in May
Dealers have continued to focus on selling add-on products in May, and especially finance products, as well as GAP insurance, and paintwork protection packages, VIPDATA has said. Commenting on the state of the UK car market during the month, the valuations subsidiary of vehicle data provider CDL added that this is especially important in times when the profit margin in the car is ever dwindling
CAP launches bespoke analysis service
Vehicle data provider CAP has launched a bespoke research, analysis and reporting service for major clients, to be known as CAP Automotive Intelligence Services. Comprehensive reports have been provided to a number of car manufacturers, aimed at helping them to launch of new models in the UK.
CrushWatch recoveries slightly down
HPI CrushWatch, the web service helping dealers and finance companies spot illegal vehicles or those with finance payments in arrears, received a total of 4,668 enquiries in April, down 12.3% compared to March
Autoquake in administration
Customers attempting to contact the company have been unable to reach the company by phone and its website states it is temporarily unavailable. It has been confirmed that corporate recovery firm MCR is working with Autoquake, although it is not yet known in what capacity.
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Online auction firm rebrands as it seeks to diversify
Cars Direct Auction Group has relaunched as CD Auction Group as part of an ongoing bid to expand car sales and diversify into other assets. Based in Corby, Northamptonshire, the company now offers plant machinery, commercial vehicles and “pre-loved” office furniture for auction, all of which are ex-lease or contract hire.
Ignition firing on all cylinders
Broker-cum-lessor Ignition Credit increased its lending activities by more than a third in the year to July 2010. Formed in 2004 as part of the Sterling Capital Group, it managed to remain bullish in the face of tough economic conditions.
PCPs up in UK for BMW Financial Services
BMW Financial Services (BMWFS) saw the number of new finance applications it received rise by 9 percent in the UK during the first half of 2010.
HCVS steers a profitable course
Hitachi Capital Vehicle Solutions (HCVS) reported a rise in turnover of 3.77% to £108.9m in the year to 31 March 2010. The companys non-consolidated results showed profits after tax more than tripled to £8.1m in the year to 31 March 2010, up 324% from £1.9m in 2009 It put the rise in profit after tax down to lower finance costs and higher operating profit, and a significant recovery in the used car market, driven by a shortage of stock.
BMWFS reports strong first half
BMW Financial Services (BMWFS) has enjoyed further success in the first half after a solid performance in Q1 this year. Its business volume, in balance sheet terms, was 7.5 % higher than a year earlier, at 65.8bn (£54.8bn) as of 30 June 2010 At that date, a total of 3,119,340 lease and financing contracts were in place with dealers and retail customers, representing a rise of 3% compared to the year before.