All articles by Richard Irvine-Brown
Richard Irvine-Brown
Quotevine signs Hyundai and Kia
Two months since start-up, automotive specialist IT provider Quotevine has signed sister manufacturers Hyundai and Kia to the companys Term Manager software system. Although the software is capable of handling retail finance, the two brands will trial the cloud-hosted system, foregoing the need to manually generate and pursue offers, to communicate fleet pricing terms and manage incentives with leasing companies According to Daniel Layne, technology officer at Quotevine, both marques grew fleet sales by 50% in 2011 and now account for more than 50,000 aggregate fleet sales a year, an approximate quarter of which go to leasing companies
July private sales push up SMMT annual forecast
The Society of Motor Manufacturers and Traders (SMMT) has revised its estimation of total new car sales for 2012 after recording year-on-year growth for both overall and private new car sales in July. New car registrations were up 9.3% on July 2011 to 143,884 units while private new registrations have risen 26.4% to 63,941 units
Fleet Friday: Ryder, Volvo, BVRLA
Weekly fleet news from Europe and the UK including Ryders Euroway purchase, Volvos corporate boom and the BVRLA response to UK business car figures
BMW FS global revenues up, profit down
Second-quarter results from the BMW Group have shown revenue and contract volume growth for BMW Financial Services (BMW FS) while profits, before tax and before interest and tax, dropped. BMW FS revenues for the quarter totalled 4,866m (£3,834m), 16.36% up on Q2 2011 and 1.4% up on the 2012 first-quarter
Survey repeats popularity of cash, not finance
Just over one-in-ten people who live in UK cities research finance deals as a first step to buying a new car, with nearly a quarter saving up cash instead. Almost half, 45%, of 1,556 adults living in British cities are researching or considering buying a car in the next 12 months, with one-in-four looking at a new car and 69% looking at a second-hand car, although only 15% of Londoners are contemplating a car purchase.
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Peugeot expands ‘Just Add Fuel’ and finance deals
French carmaker Peugeot has extended its Just Add Fuel self-contained insurance and servicing package to drivers over the age of 21 and made the deal available on a three-year fixed price. Model offers in the campaign range from £179 a month for the Peugeot 107 three-door Active (£205 for 21-year-old drivers) to £335 a month for the Peugeot 5008 Allure Other finance deals available from the brand in August and September will include the 107 model available on a personal lease of £110 a month over 48 months, 6,000 annual mileage, £1,605 deposit, £2,346 final payment; and four years 0% APR representative on the 308, 3008 and 5008.
Chevy offers five years’ 0% and warranty
Finance for the 0% offer will be supplied by Santander Consumer Finance and includes £99 a month on the Spark 1.0, which has already had a £1,180 discount on its retail price, £139 a month on the Aveo, £179 a month on the Cruze, £199 a month on the Orlando and £349 a month on the Captiva SUV
GMAC and Santander head-to-head on Vauxhall deal
GMAC, the UK trading style of Ally Financial, has offered to match terms offered by Santander Consumer Finance in providing for Vauxhalls flagship 0% retail finance scheme, in an unprecedented situation for UK car dealerships. Provision of the Flexible Finance scheme available through Vauxhall dealerships and initially run by GMAC, formerly the captive finance partner to Vauxhall parent GM, was switched to Santander in March, a surprise to much of the industry.
Hyundai aiming for 50% penetration
Following the establishment of Hyundai Capital UK, the joint venture between Hyundai and Santander Consumer Finance, the South Korean brand hopes to push its finance penetration rate in UK retail sales up toward 50%.
BCA’s £231m in ‘recession-proof’ prestige market
British Car Auctions (BCA) has recorded £231.4m in sales of upper executive, sports and luxury cars in the opening six months of the year. The remarketing company sold 8,356 cars over £20,000 from January to June 2012, at an average 102.57% of CAP clean, mainly through BCA sales at Blackbushe and Nottingham Between £20,000 and £69,999, and over £110,000, all average prices (by £10,000 band) broke 100% CAP clean, although the average price for each band from £70,000 to £109,999 failed to reach 100% CAP clean.