All articles by MF Editorial
MF Editorial
Company car drivers happy to lift-share
Resistance among company car drivers to changing their driving habits is fading, a survey by Alphabet has found, with younger drivers happier than older respondents to modify their habits behind the wheel in order to save cash and carbon The multi-marque fleet lessor, owned by BMW, said that 80 percent of younger participants in the survey were happy to consider lift-sharing in order to reduce their carbon footprint, with 60 percent of overall responses in favour of the idea
FLA: Conversion fraud levels rise
Conversion fraud levels – where cars are sold before outstanding finance balances have been settled – are on the rise, reported the Finance & Leasing Association (FLA) Almost 40 percent of motor finance fraud cases in Q3 2009 were committed by people selling cars which they did not own, the association said Around 25 percent of motor fraud involved applicants giving false information on their finance application form.
GE Capital provides £15 million of funding to rental group
Scot Group Ltd, an independent vehicle rental company, has arranged a three-year working capital facility worth £15 million from GE Capital
Manheim: Used car prices up 35 percent in December
Auction company Manheim has reported that average wholesale prices for used cars rose by 34.7 percent to £6,875 in December 2009 compared with the same month in 2008 – although this figure represents a small month-on-month fall, of 4.1 percent. Looking into the results in more detail, Manheim said that in the fleet sector, average prices rose by 0.7 percent month on month, and dealer part-exchanges fell by 3 percent
Rental companies’ car-sharing clubs grow
The car-sharing club operated by rental group Hertz, called Connect by Hertz, has opened new operations in Berlin and Madrid The club operates on a pay-as-you-go basis which Hertz described as an economical, convenient and socially-conscious alternative to car ownership
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BCA to remarket all LeasePlan vehicles
Auction house BCA has won a deal to become the sole remarketing partner for contract hire company LeasePlan, the second-largest operator in the UK, with a fleet size of over 120,000 units.
A rosier outlook?
Motor Finance asked a number of leading motor finance and fleet industry figures to comment on the threats, opportunities and changes which lie ahead in 2010
A seasonal adjustment
After nine months of incremental and sometimes substantial month-on-month price increases in the used car market, a slowdown of some sort was almost inevitable
Industry reactions
The Chancellor of the Exchequer has announced several proposals focusing on electric vehicles that will greatly benefit the motor trade. However, with the end of the scrappage scheme in sight, UK VAT returning to its normal rate of 17.5%, and a rise in fuel duty, 2010 looks to be off to a rocky start
John Sinclair to step down from BCT
The CEO of British Credit Trust (BCT), John Sinclair, is to step down in the near future, due to “irreconcilable differences” with CitiCapital Group regarding the non-prime lender’s future direction and strategy Sinclair is also currently chairman of the Finance & Leasing Association’s motor finance division