All articles by MF Editorial
MF Editorial
Alphera finance deal
Alphera Financial Services is to provide both retail and wholesale finance to Husqvarna Motorcycles, a subsidiary brand of the BMW group, in the UK. To mark the start of the relationship, Alphera and Husqvarna are launching a low-rate hire purchase campaign for the brands motorcycles, offering 2% APR on three models; the SMR511, SMR630 and TE630. Husqvarna UK general manager Massimo Granata said that Alpheras emphasis on “personal service and commitment to customers” made the lender a good fit for partnership
Compliance burden promise
The organisations behind the new continuous insurance enforcement (CIE) regulations have pledged to help British Vehicle Rental and Leasing Association (BVRLA) members “ease the burden of compliance”. Speaking at a BVRLA seminar earlier this month, representatives from the DVLA and the Motor Insurers Bureau (MIB) said they would “give the industry time to implement the new regulations while also providing advice and support”. Laws on continuous insurance due later this year introduce a new offence of being the registered keeper of a vehicle with no motor insurance.
Salary sacrifice demand
Fleet management specialist Zenith Provecta says it has seen more demand for Salary Sacrifice in 2011 than at any other time since launching the product three years ago, and expects to double the number of salary sacrifice cars on its fleet within the foreseeable future. According to the company, the main reason for growth is the increasing level of understanding among HR staff of the products advantages, with companies in the professional services industry being particularly switched on to the benefits.
Santander, Hyundai finance deal
Hyundai is set to launch a UK finance joint venture with Santander Consumer Finance UK (SCF), to start transacting business within the next 24 months. The move will see SCF take over Hyundais current white label finance arrangement with Black Horse, the Spanish-owned providers biggest rival
Car clocking’ warning
As the BBC puts the spotlight on the rising threat of car clocking, vehicle information provider HPI is warning dealers that the reality is far greater than reported. The Vehicle & Operator Services Agency (VOSA) has revealed that 1 in 39 cars that undergo an MOT have had their mileage altered or clocked but data from HPI show that the figure is actually closer to 1 in 17.
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Tesco Cars in talks with independent finance firms
A spokesperson for the supermarket said the team behind its new Tesco Cars venture was having “continual meetings”, both internally and with other companies, in order to decide on “alternative offers” to its current offering of personal loans from Tesco Bank.
11′ registration gives March figures a boost
The launch of the new 11 plate led to 366,101 new car registrations in March, 7.9% fewer than in March 2010, according to latest statistics from the SMMT.
Demand for fuel-efficient vehicles shows no sign of waning
A recent investigation into vehicle emissions by data provider JATO shows that car users continue to demand more fuel efficient and therefore greener vehicles. The report, A Review of CO2 Car Emissions across Europe, links low average emissions with fragile economies, with fiscally damaged Portugal pushing ahead of France last year to become Europes most fuel conscious country a trend easily linked with its consumers desire to keep down fuel costs.
Third monthly price rise for used cars
Manheim Remarketing reports that overall average wholesale used car values increased by 1.6% (£111) to £7,095 in March compared to February The rise in average values in March was driven by increases in the fleet, dealer part exchange and manufacturer sectors.
Dealers have nothing to fear from the web
No shortage of finance providers keen to help UK car dealerships break into the internet audience. It stands to reason, therefore, that they will be looking to get finance there too but where will this leave traditional dealers?