All articles by Jason Hesse
Inchcape Financial Services to stop writing new business
In its annual report and accounts, filed at Companies House, the company, which provides hire purchase, leasing and point-of-sale motor finance for customers of Inchcapes chain of car dealerships, said: A change in the companys activities is planned, with the intention that no new business is to be written in future. Inchcape FS, which is 51 percent owned by Lloyds Banking Group and 49 percent by Inchcape Motors International, was first set up in the late 90s as a joint venture between NWS Bank (later Capital Bank, then HBoS Group PLC) and Inchcape
Strong earnings at Ford Credit
In its third quarter results, despite recording lower revenues, Ford Credit, the American captive, saw earnings grow strongly Financing revenue in the third quarter totalled $3 billion (£1.8 billion), down from $4.1 billion the previous year But, despite the 26 percent drop in revenue, the companys income grew by an impressive $332 million year-on-year, to reach $427 million at the end of the third quarter.
Nissan opens used battery market
Nissan Motor has announced plans that it will remarket used lithium-ion batteries from its soon-to-launch Leaf electric car to solar-powered generators and other secondary customers. With this announcement the first of its kind Nissan is looking to bring down the high cost of owning a zero-emission vehicle. At the end of the cars normal driving life of 10 years, Nissan projects its 24 kWh NEC batteries will still retain 70 to 80 percent of their capacity
Leaseurope convention 2009: Still many opportunities
Asset finance and leasing professionals from across Europe gathered in Prague in early October for Leaseuropes annual convention, where long-term strategy was high on the agenda for the motor finance industry.