All articles by MF Editorial
MF Editorial
British Motor Show cancelled
The SMMT has taken the difficult decision to cancel next years British International Motor Show, in response to the downturn facing vehicle manufacturers.
New registrations fall in January
The SMMT has released the new car registration figures for January, which show that the overall new car market fell to 112,087 units – down by 30.9 per cent, compared with January 2008.
State aid package leaves out motor finance companies
The government has announced a £2.3bn package of financial support to UK-based car manufacturers.
Sutton to head merged Black Horse and Bank of Scotland Dealer Finance operations
Chris Sutton has been named as the new head of motor finance at Lloyds banking Group (LBG), with immediate effect.
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Welcome Financial Services’ problems worsen
Welcome Financial Services has ceased new business. Its parent company, doorstop lender Cattles, has suspended the sub-prime hire purchase provider’s management team, and announced that Welcome had breached its banking covenants.
1car1 relaunches leasing division
The contract hire and leasing division of 1car1 and Van Rental, 1car1 Contracts, has been relaunched, following higher levels of customer interest in longer-term vehicle hire from customers.
Lombard Vehicle Management: Sale-and-leaseback deal for green taxi firm
Contract hire and leasing company Lombard Vehicle Management has agreed a sale-and-leaseback deal with greentomatocars, covering the taxi firm’s fleet of 54 Toyota Priuses.
Lease accounting rule changes could damage industry
The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) are currently in the process of developing a new standard for lease accounting.
GM bankruptcy imminent?
The auditors of troubled manufacturing giant General Motors (GM) have raised “substantial doubt about GMs ability to continue as a going concern” amid reports that, without a cash injection from the US Treasury, the carmaker could go bust within 30 days.