A new business drive into the corporate fleet market is being planned in 2019 by medium-term rental specialist Meridian Vehicle Solutions. So far, the company has worked almost entirely through leasing and fleet management companies as intermediaries, white labelling their product for more well-known brands. Phil Jerome, managing director, explained, … [Read more...]
Finance News
Desire for car ownership is strong but weakens for AVs
Analysts at Arthur D. Little says the desire for car ownership remains strong, especially amongst the young, and that drivers are considering a dramatic switch to electric and hybrid vehicles. This will impact manufacturer and supplier engine strategies and push for faster development of EV ecosystems, such as charging solutions. Drivers are now much … [Read more...]
Ford are most financed used cars, says lender
The Ford Fiesta has topped the list of cars financed in the UK, according to data from Close Brothers Motor Finance. The firm family favourite is followed by the Ford Focus and the Volkswagen Golf. More than 2.2 million new cars have been sold in the UK so far this year, and there have been more than 6 million used car transactions. Consumers … [Read more...]
Local trade sales and stock quality rising
Trade sales are becoming more local, reports one company. epyx is reporting that it is seeing evidence of a return to more regional-based remarketing in recent months. Usage of options in its 1link Disposal Network platform indicate that more fleets are opting to look at pricing and sales patterns on a geographical basis before deciding where to sell a … [Read more...]
Safety and service take back seats in new trend
New approaches to service and maintenance will be needed as personal contract hire increasingly makes an impact in corporate circles, says epyx. Tim Meadows, commercial director, said that typically 80% of cars on traditional corporate contract hire were leased with inclusive maintenance packages but that this fell to around 20% for PCH. He explained, … [Read more...]
Long term ownership of cars is decreasing, says AA
The increasing popularity of car finance deals is contributing to the decline of long-term car ownership, according to AA Cars . The number of drivers who plan to hang onto their current car for more than five years has dropped considerably - by 11% - since owning their last car. This means there are around 3.4 million fewer drivers who have long term … [Read more...]
Newslines 19 November
Rich Welsh drivers prefer to buy a Lamborghini, says a specialist finance company. JBR Capital revealed the Italian supercars account for over 28% of their loans, the highest for the marque in the UK, in Wales. There is a £150M plan to revive a race and test track near Rassau, Ebbw Vale, according to media reports. It follows the failure of the … [Read more...]
Used car sales steady after new cars collapse
Britain’s used car market remained near recent record highs in the third quarter of 2018, according to the Society of Motor Manufacturers and Traders. Despite a sales dip of -2.1% compared with the same period in 2017, there were 2,057,457 used transactions in Q3, with August the quarter’s best-selling month and the Ford Fiesta was most popular with … [Read more...]
CarWizz is a word to the webwise
A new platform called CarWizz enables automotive retailers to take back control of online vehicle sales and significantly reduce ageing new car stock. By only advertising list price figures for stock vehicles, CarWizz returns full control of negotiations and deal quality to retailers while also facilitating lower operating costs and informing future … [Read more...]
Winter car sales need booster injection
The UK new car market declined again in October, with 153,599 vehicles registered, according to the Society of Motor Manufacturers and Traders. Deliveries fell by -2.9% in the month, as model changes and backlogs at test houses conducting tough new WLTP emissions certification continued to cause shortages across some brands. Wales bucked the trend with a … [Read more...]
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