All articles by Lorenzo Migliorato

Renault financial services new business breaks €11m in H1 2018

RCI Bank and Services, the captive provider of Renault financial services, wrote €11.1m (£9.8m) in new business during the first half of 2018, up 6.8% year-on-year.

Mercedes-Benz parent renames finance division as Daimler Mobility

Mercedes-Benz parent Daimler is to rebrand its financial services unit to Daimler Mobility – the biggest indicator yet of captives’ shift from financiers to transport solutions providers.

UK car finance payments hit £1bn a month, Kwik Fit finds

Car finance payments across the UK bring in £1bn every month, research commissioned by Kwik Fit has found, with the average payment standing at £226.12.

Opel/Vauxhall Finance brings in €143m profit in first half-year under PSA

Opel/Vauxhall’s financial unit reported €143m (£127m) in profit and €282m in revenues for the six months to June, in the first public results since the joint acquisition by Banque PSA and BNP Paribas last year.

Ombudsman reviewer calls for blanket FCA action in misselling cases

Broker Car Finance 2U launches online enquiry tool

Broker Car Finance 2U (CF2U), part of the 1pm group, has launched an online vehicle finance enquiry tool, easing its dependence on car dealership leads.

Volvo financial revenues grow 17% in first half of 2018

Volvo Cars has grown revenues from subscription, leasing and rental business to SEK 3.3bn (£284m) in the six months to June, up 17% year-on-year.

Auditor RSM UK expands automotive team

Audit, tax and consulting firm RSM has appointed a partner to its UK automotive practice.

HMRC agrees VAT exemption for dealer deposit contributions

Dealership should deduct dealer deposit contributions (DDC) from the amount on which VAT is calculated when agreeing financing contracts, HMRC has accepted.

Car finance will need reinvention as AFVs rise, Moody’s says

The car finance industry faces uncertainty in how trends around alternatively-fuelled vehicles will develop, and may need to adjust its offering proactively, Moody’s has said.