All articles by Richard Irvine-Brown
Richard Irvine-Brown
VWFS profit up 20%, H1 2012
Volkswagen Financial Services, captive finance partner to the Volkswagen Group, has reported a 20% rise in operating profit year-on-year for the first half of 2012.
Broker backs popularity of Honda safety
On the back of recent reports commending the reliability of second-hand Honda cars, vehicle finance broker Carfinance247 has confirmed the brand is its fourth most popular make of car. Between 1 May 2011 and 30 April 2012 Carfinance247 brokered a rising amount of finance on second-hand cars and saw more business on Honda cars than it did on Volkswagen, Audi or Nissan, for example, all of which sold at least twice the new units of the Japanese marque in the first half of this year.
Fleet Friday: Brands’ vans, costs and guidance
A roundup of the weeks fleet news from the UK and Europe including a new deal for Toyota and Peugeot-Citron, the relative success of VW finance, GE Capitals findings on fleet costs and the best way to navigate them from the BVRLA
Finance, sales and revenue fall for Renault
Global sales financing fell 15.65% year-on-year for Renault Group in the first half 2012, one of several headline indicators to show decline in the groups most recent results. Car finance contributed 345m (£270m) to the Groups operating margin, down from 409m in H1 2011, as the cost of risk rose to 0.44% of average loans outstanding (from 0.14%, same period 2011), still shy of the average historic level of 0.60%. Group sales were down 3.3% year-on-year to 1.33 million units worldwide; group revenues were down 0.8% to 20,395m; operating income was down 32.77% to 519m; and net income was down 37.27% to 786m.
Grant Thornton identifies gaps for independents
There are two spaces in the car finance market for independents to write new business, according to Peter Landers, consumer finance expert with Grant Thorntons Leasing & Consumer Finance financial and strategic advisory team.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
Vertu caution over warp in registration data
Chairman of Vertu Motors Paul Williams has said the rise in classifying self-registered vehicles as private, rather than fleet, by UK dealers is inflating registration data compared to sales levels, something the company is keen to avoid. Williams was speaking at the Vertu Motors AGM where the company announced year-on-year vehicle revenue growth of 5.1% and profit growth in each key area of business in the first four months of the financial year. By volume, Vertu new car sales figures were up 0.3% year-on-year for the four-month period, compared to 10.1% growth in private registrations in the UK, but profitability in the cars rose 4.7% and margins increased from 7.3%, in 2011, to 7.9%.
Yamaha 0% finance to assist new riders
Most participating bikes will be offered on a 24-month deal with a deposit of £99, although the Vity scooter (125cc) is available at £79 a month with a £174 deposit and the YBR125 at £98.75 a month with £200 deposit.
Populus poll shows lack of appetite for finance
Welsh or Scottish males aged 35-44 are the most likely people in the UK to apply for new car finance, according to a poll commissioned by MainDealerOffers.co.uk The online motor advertising and marketing company reported 19% of men aged 35-44 said they would use dealer finance, compared to an average 13% across all ages, although participants could select multiple options Nine per cent of respondents said they would opt for hire purchase, 3% would choose a lease and 3% would take PCP
Suzuki adds warranty and cover to £1 offer
Motorcycle manufacturer Suzuki has added a three-year warranty and AA cover to its £1 deposit and cash back offer, through Close Motor Finance, on new models over 400cc Similar to the first extension of the scheme, this announcement follows the latest offer from Yamaha and Black Horse, as manufacturers look to increase the motorcycle parc through the appeal of finance.
Headline offer from new Hyundai-Santander JV
PCP offers on the Hyundai Velostar, New i20 and Santa Fe SUV are the first high-profile deals under the new joint venture between the manufacturer and Santander Consumer Finance. Trading under the name Hyundai Capital UK, the partnership between Santander and Hyundai, plus Kia, was formally announced in March, but the latest deals are the first since the official launch last week. The Velostar and Santa Fe will be offered at £199 a month, 5.9% APR, over 36 months, with a £4,645 deposit, plus £1,500 contribution from the manufacturer; while the i20 is available on the same term length at 6.9% APR, at £119 a month, with a £1,850.50 deposit, plus £250 from Hyundai.