All articles by Verdict Staff
Verdict Staff
HCVS steers a profitable course
Hitachi Capital Vehicle Solutions (HCVS) reported a rise in turnover of 3.77% to £108.9m in the year to 31 March 2010.
New car regs fall in August
New car registrations fell 17.5% in August compared to the same period in 2009, ahead of the 60 plate change and following the end of the governments scrappage scheme which incentivised the buying of new cars.
Motor month: Things are looking up
The number of people planning to buy a car in the six months to February 2011 is at a three-year high, according to Sainsburys Finance Car Buying Index The research indicates that 7.68m people intend to buy a car during the period September 2010 to February 2011, a 49% increase on the 5.14m people for the comparable period a year earlier.
Toyota GB appoints new MD
Commercial director of Toyota GB since 2007, Williams said: “I am proud that as a global business, Toyota continues to invest in the UK, making it the production centre for the first fully hybrid car to be built in Europe, the new Auris HSD
F&I should be key
Maximising revenue from F&I sales should be a key objective for dealers struggling against a tough used car market this winter, says insurer RAC Warranty. Ian Simpson, sales and marketing director at RAC Warranty, also underlined the importance for dealers of making sure that used vehicles were “acquired and sold at the right price”, in order to preserve margins against a “falling used car market”
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Car finance up by 6% for July
New and used car finance both rose by 6% for July, compared to the same month in 2009 New car business in the year to end-July 2010 was up by 28% compared to the year to end-July 2009
On the move: September
Automotive services company Manheim has appointed Simon Warrington as its new chief technology officer Warrington will join the Manheim group board and is to review the groups technology strategy in the UK and Europe His previous experience includes a position as global vice-president for packaging company Linpac and before that, as European chief information officer of GE Commercial Finance Fleet Services.
Ford Credit Europe boosts profit
Ford Credit Europes (FCE) profits almost doubled in the first half of 2010 compared with the first half of 2009. Profit before tax soared from £71m in the first half of 2009 to £140m in the first half of 2010, thanks to “a significant reduction in credit losses”. A spokesman for FCE said: “Higher profits in Europe during the first half of 2010 can be attributed to a number of factors, including a significant reduction in credit losses, which have returned to within historical norms.”
Fleet values down
Average wholesale used car values fell by 3.3 percent (£234) to £6,783 in August, after the period of relative stability in June and July Overall average vehicle age has remained static but mileage has increased by 1,348 to an average 52,331 miles which is the highest monthly value reported over the past two years.
Casebook: Debtor fails to win on technicality
In what might be perceived as a further try on by claims management companies, the court has once again taken a robust view in favour of the lender. The agreement was regulated by the Consumer Credit Act 1974 (the Act) and Consumer Credit (Agreements) Regulations 1983 (the Regulations).