All articles by Verdict Staff
Verdict Staff
FLA motor finance statistics
56% of new car sales used motor finance in the year to May 2011, the highest market share since March 2009 Year-on-year change in finance sales volume has fluctuated in the first five months of the year, confirming industry expectations of a flat overall market, governed by consumer confidence and characterised with seasonal volatility Leasing and personal contract purchase agreements for new cars grew by 14% in the 12 months to May 2011, compared to the previous 12 months
Used car values
June was generally a steady month that saw some price realignment from vendors. This helped keep the volume churning as the month progressed, and as a result conversion rates picked up quite noticeably.
HPI Crushwatch
HPI Crushwatch is an online service aimed at helping lenders reclaim vehicles with outstanding finance before they get crushed
GE Capital signs ?50m European financing programme
GE Capital has signed an agreement to provide Italys Ducati and its dealer network with a pan-European floor plan financing facility of up to 50m (£44m). Under the agreement, GE Capital will finance Ducatis motorbikes from the time they leave the factory until they are sold to customers, providing the manufacturers European dealership network with additional liquidity and extended payment terms.
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Dealers and insurers pensive over ABI GAP guidance
Dealers, insurers and F&I experts from across the UK gathered in London yesterday to identify the future of insurance products at the point of sale, and assess the opportunities for dealers to maintain profitability in an ever-changing regulatory landscape The event, ‘Finding new profit centres what are the F&I options for dealers post-PPI?’, was hosted by Motor Finance and software house Frontline Solutions, and saw 14 delegates engage in a round table discussion on subjects including the future regulation of GAP insurance, methods of maintaining PPI sales, and the development of income protection products.
Lombard backs SMMT
Lombard, the UKs largest asset finance company, is to sponsor the annual dinner of the Society of Motor Manufacturers and Traders on 22 November, as part of a campaign to increase its profile as a lender among UK businesses. While Lombard is a provider of stocking finance to the car retail industry, this is not the primary message the company wants to put across by putting its name behind the SMMT dinner. A spokesperson explained that the decision had been made instead to reinforce its position as an asset finance lender to the commercial transportation sector, a role it has filled since it started life as the North Central Wagon Company in 1861.
CAP launches bespoke analysis service
Vehicle data provider CAP has launched a bespoke research, analysis and reporting service for major clients, to be known as CAP Automotive Intelligence Services. Comprehensive reports have been provided to a number of car manufacturers, aimed at helping them to launch of new models in the UK.
DealTrak inks agreement with Co-operative
The Co-operative Motor Group has signed a new three-year agreement for the supply of the Elite version of F&I system DealTrak123. The terms of the agreement will allow for additional consultancy and training services from dealer Nottinghamshire-based EXCEL. Andy Shuter, managing director of Frontline Solutions, which produces DealTrak123, said: “Our system is really gathering pace at the moment, and we want to deliver added value to our Elite clients wherever we can
FLA motor finance statistics
Rate of decline in used car finance outpaced that of new car finance, continuing the trend identified in March Value of advances in used and new categories now almost equal after March’s new plate boom Business purchases on finance plunged in April, despite SMMT stats showing overall fleet and business registrations being up significantly year-on-year