All articles by Richard Irvine-Brown
Richard Irvine-Brown
New buyer to turn Saab into EV manufacturer
Nevs plans to turn the Swedish manufacturer in to a leading electric vehicle (EV) carmaker, starting with an electric drive re-version of the Saab 9-3 model using Japanese EV technology. Many brands have launched EV models in the last few years including Renault, another continental manufacturer with worrying sales figures, which aims to have a full EV range ready for market in 201213.
Alfa £500 trade-in on Giulietta PCP
Alfa Romeo is offering retail customers £500 on or above the (lowest) CAP or Glass guide valuation of their vehicle when part-exchanged with cash, or as part of a PCP or HP deal The Test Ours Trade Yours campaign applies to all Alfa Giulietta models, with manufacturer promotional material pointing out the 1.4TB 120bhp Lusso model is available from £299 per month over 47 months until the end of the month. Talking to Motor Finance, a spokesperson for Fiat Group Automobiles (FGA), of which Alfa has been a part since 2007, said the offer was based on findings from consumer research which demonstrated prospective buyers prefer a monetary incentive over, say, an aesthetical incentive such as upgraded interiors or extras.
Private car finance penetration up for 13th month
Two-thirds (66.6%) of new cars bought at retail by private consumers were purchased on finance in the 12 months to April, up from 65.9% in March. March, in turn, saw a rise from 64.5% finance penetration for new cars in the year to February, up from 63.5% in January, and so on, stretching back to the last dip in the trend recorded in February 2011. Year-on-year, April saw 41% growth in the value of private new car finance, to £709m, and 29% growth in volume to 49,709 units
UK robust in good month for BMW
BMW Group has posted 6.4% growth in global automobile sales, year-on-year, for May and 9.1% growth in the year to date. Despite May sales dropping 1.7% across Europe and 5.3% in Germany alone, Group sales rose 8.9% in the UK, as well as recording 33.8% growth in Netherlands and 10.5% growth in Austria.
May sees further new car market growth
New car registrations in the UK were up by 7.88% year-on-year in May, according to the Society of Motor Manufacturers and Traders (SMMT) It is the fourth monthly rise of the five months recorded in 2012 so far and was boosted by private demand. Of the 162,288 new units sold in May, 69,672 were private sales, up 14.3% on May 2011, with 87,126 fleet sales, up 4.8%, and 5,490 business sales, down 13.5%.
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ACF commended for payroll-giving scheme
ACF Car Finance has been recognised by the Institute of Fundraising for encouraging staff to give to charity through their payrolls and promote charitable schemes in the workplace. The news follows the announcement in April parent company The Funding Corporation would pay employees to take a day off each year to work for charity, particularly BEN, the automotive industrys national charity.
The £50,000 contract hire fraud hunt
Fraud police are searching for a man calling himself James Morgan after thousands of pounds were paid to his company in deposits for hire cars that never materialised. One man has already been arrested by the Volume Fraud unit of Greater Manchester Police on suspicion of fraud by false pretences
0% APR ‘key’ for Yamaha customers
Japanese motorbike manufacturer Yamaha has made every one of its motorcycle and scooter models in the UK under 125cc available on 0% APR representative finance A spokesperson for Yamaha told Motor Finance such schemes were the key thing for customers, saying such schemes drew in customers who otherwise may not consider a purchase and finance made it easier when times are hard.
Fleet Friday: Makers, renters and lessors
Volkswagen (VW) has begun a dealership programme to target fleet opportunities among the estimated one million small and medium enterprises (SMEs) running company vehicles in the UK, similar to recent ambitions announced by Mercedes Benz and Kwik-Fit Fleet.
AA warn against ‘too-good-to-be-true’ car sales
The Automobile Association has issued a warning to consumers against buying cars that appear to be bargains and to never buy a car at less than 70% of its market price.