Fleet Evolution, one of the country’s leading providers of car salary sacrifice schemes to SMEs, has launched a scheme to give drivers who cover a lot of miles peace of mind when it comes to their vehicles. The newly-announced Employee Car Ownership (ECO) scheme will allow employees who do high business mileage to own a company car with employer volume … [Read more...]
Finance
Newslines 20 February
As Welsh Government scrutinises a detailed financial proposal to build the £425M Circuit of Wales, it has emerged that nearly £1M was given by the developers to another consultancy headed by the project's chairman. Michael Carrick set up the Heads of the Valleys Development Corporation, which has received £9M grants and loans from Welsh Government for … [Read more...]
Euro 4 changes impact on bike market, says cap hpi
Changes to emissions directives which came into effect at the beginning of this year are having a significant impact on the motorcycle market according to automotive data experts, cap hpi. Alan Elsworth, Green Book Editor with cap hpi, says that despite the bike market being the most exciting it has been for a long time with manufacturers unveiling new … [Read more...]
New higher tax will hit sales and registrations, say hirers
The new Vehicle Excise Duty regime will hit the car rental industry with a 400% tax rise, damaging its ability to purchase the newest, cleanest vehicles and provide affordable mobility to millions of customers. A new report from Oxford Economics, commissioned by the British Vehicle Rental and Leasing Association, has found that the rental sector will be … [Read more...]
Brits borrowed more for new cars in 2016
The Finance & Leasing Association says new business in the point of sale consumer car finance market grew 12% by value and 8% by volume in 2016. New business was up 3% by value and down 3% by volume in December, compared with the same month in 2015. The POS consumer new car finance market reported new business up 1% by value and 8% lower by volume … [Read more...]
Hefty discounts now available on new cars
Savings of more than £5,000 off the price of many brand new models are already on offer as car makers take action to combat an expected slowdown in sales. The discounts have even spread to some cars in premium brand ranges including Audi, Mercedes, Jaguar, Volvo and Lexus, which have had more than 15% cut from their price. Despite predictions that … [Read more...]
Brits cool towards car buying in political climate
UK residents admit they are deterred by the current unstable political climate when it comes to making big purchases, as they opt to lease cars, rent houses, and subscribe to services instead of wanting to commit outright, new research reveals. Leading vehicle leasing company, Leasing Options has surveyed the nation's motorists to gain an insight into … [Read more...]
Overloading vans hits economy more than appreciated
An increase in fuel consumption of more than 20% between an unladen panel van and the same vehicle with 75% of its maximum payload has been recorded by Arval. The controlled trials were designed to underline the importance of ensuring that LCVs are only carrying the load needed on any given journey. A popular SWB panel van was driven in controlled … [Read more...]
New car registrations hit 12-year high
The UK new car market achieved a 12-year high in January, said the Society of Motor Manufacturers and Traders. The total was 174,564 vehicles last month – a 2.9% year-on-year uplift and the highest level since 2005. The alternative fuelled vehicle segment grew 19.9% to take a record 4.2% market share – the first time 4% has been … [Read more...]
Dealers’ positive view of sales prospects this year
The majority of UK car dealerships are positive about their business prospects for 2017, with 65% expecting growth over the next year, say Close Brothers Motor Finance. Despite many industry figures predicting the sector will contract in 2017, the majority of dealers surveyed monthly by Close Brothers Motor Finance remain resolutely positive about the … [Read more...]
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