All articles by Jo Tacon

Demand at auction begins to soften

Demand at auction begins to soften Results from auction house Manheims monthly Market Analysis report show that the UK wholesale used car market started to decline halfway through the second quarter of 2008, after relatively strong results in the first three months of the year.

New boss takes the reins

New boss takes the reins Black Horse Motor Finance has revealed the name of its new managing director. Chris Sutton has taken the helm at the motor finance house, after the departure of previous MD John Woolley earlier this year (see MF Jan 08).

Non-prime lender expands its brokering business

Non-prime lender expands its brokering business Non-prime finance house Blue Motor Finance has reacted to the recent credit crunch by retracting its lending business and increasing the business it proposes to its brokerage operation Managing director John Byrne confirmed the change in strategy, while stressing that the decision to increase its brokering business was taken purely because the rise in the cost of funds made it uneconomical for Blue to continue lending through its dealer partners. We had made a commercial decision in January to slow our new business levels, whilst looking for profitable partnerships

Warning over rising rental costs for fleets

A leading car rental company has warned fleet companies that the cost of hiring cars is likely to rise in the near future Avis said that a combination of a strong Euro, collapsing residual values for used cars, and rising costs from manufacturers, against the background of a wider economic slowdown, will force all rental suppliers to pass on their increased costs to customers Avis fleet director Paul Hainsworth said that costs, which have risen considerably over the past year, look set to rise further over the rest of this year, and into the next.

Fleets bitten by RV crunch

Fleets bitten by RV crunch The fall in average resale values for ex-fleetlease vehicles is taking a heavy toll, Jo Tacon finds For fleets looking with dismay at the falling prices ex-fleet and lease cars are attaining at auction, there is little cheer on the horizon The worrying prospect that all of the predicted profit on a lease will be wiped out by a drastic fall in the price achieved through remarketing is one that more and more fleet leasing companies are having to face up to – and, consequently, to plan for

Ten fleets chosen to supply public sector

The 10 contract hire providers who made it through the selection process are: Appleyard Contracts Ltd, Arnold Clark Finance Ltd, Arval UK Ltd, Automotive Leasing Ltd (a subsidiary of LeasePlan), GE Commercial Finance Fleet Services, Lex Vehicle Partners Ltd, Lloyds TSB autolease, Lombard Vehicle Management, Masterlease Ltd, and T C H Ltd.

Recession drives popularity of online car sales

Independent lessor sees 2007 profits rise by a quarter to £5.3m

Independent lessor sees 2007 profits rise by a quarter to £5.3m Zenith Vehicle Contracts had a successful year in 2007, and grew its profits for the 12 months to March 31 2008 to £5.3m, up 26 per cent on the same period the previous year

Fleet head urges employers to return to the company car

Fleet head urges employers to return to the company car The head of fleet management and leasing company Lombard Vehicle Management (LVM) has called for employers to return their staff to company car schemes, citing environmental concerns and duty of care worries for companies that allow their employees to drive their own cars on business.

Minister refuses to clarify government’s position

Minister refuses to clarify governments position Transport minister Jim Fitzpatrick has refused to clarify the government’s position on the introduction of road pricing. Asked yesterday at the Fleet Business Show in London whether a national road pricing strategy was back on the agenda, Fitzpatrick mentioned the London Congestion Charge and the local trials taking place in Manchester and Cambridge, but when pressed on the matter, said only: “There is nothing further to say on that.”