All articles by Charles Wheeldon
Charles Wheeldon
Underwhelming European EV sales cast future doubts
Electric vehicles have yet to make a significant impact on the European auto market, with fewer than 6 in 10,000 car sales being an EV. Data from JATO Dynamics reveals that, out of 6,629,818 European car sales in the first five months of 2011, just 3,714 were EVs (0.056%). SMMT statistics show that out of 846,513 UK car registrations in the first five months, 509 were EVs
First-party fraud gets worse in Q1
Motor finance fraud cases rose by 17% in the first three months of the year compared to first quarter of 2010, reports the Finance & Leasing Association (FLA).
Typical seasonal trading at BCA
The market was typical for late spring, with some price pressure but lots of interest for the most desirable vehicles
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 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.
First party fraud gets worse in Q1 2011
Motor finance fraud cases rose by 17% in the first three months of the year compared to Q1 2010, reports the Finance & Leasing Association (FLA), mostly due to an increase in first party fraud, where customers take out car agreements on behalf of other drivers, or sub-hire financed vehicles
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Prestige cars help HPI CrushWatch hit £3m
Though the number of enquiries (5,081) was lower than the median for the six months since the service began reporting monthly rather than seasonally, and the number of vehicles recovered, at 493, was unexceptional, the value of the vehicles seized rocketed. The Top-10 recoveries list reveals the reason for this shift, with no fewer than five vehicles valued at more than £40,000, whereas this figure has never been higher than three in the past six months, with the most expensive vehicle recovered valued at £90,190.
Cottle to head business development at BEN
Cottle is a former senior director at Bank of Scotland Corporate, where he was responsible for retail and wholesale motor finance business: He said: The UKs automotive industry is fantastic and has managed to emerge stronger from so many challenges thanks to the ability of its people to adapt and improve their skills
Fleet and business sales prop up falling market
For the eleventh successive month, new car registrations fell in May, to 150,431 units, though the 1.7% decline was the smallest since registrations began to contract in July last year, the SMMT reports.
Used car values dropping – and will go lower
The average wholesale used car prices dropped by 3% in May, following on from the 1.1% drop in April, leading to speculation that a trend of ever-lower prices is beginning following a price peak in March
Good news for manufacturers’ captives
Quarterly financial results released by Europes car manufacturers last month saw broadly improved sales revenues and profit figures from their finance arms compared to the same period last year. Last months encouraging quarterly financial results released by Europes car manufacturers are positive despite the continuing uncertain economic climate in Europe and further afield. Though each captive has its own story to tell, it appears that revenue-boosting offers to customers lie at the heart of the stronger performers.