All articles by MF Editorial

Private purchasers: Not so innocent?

A recent FLA briefing looked at the issue of so-called innocent private purchasers of repossessed cars who are not what they seem Jo Tacon reports on a thorny problem for financiers A hire purchase customer defaults on a car loan The finance companys arrears management process swings into action; the car is eventually tracked down and repossessed

Strong Q3 revenue growth for Banque PSA Finance

The captive finance arm of PSA Peugeot-Citron, Banque PSA Finance, has reported Q3 sales growth year-on-year of 7 per cent to 534m£457m (Q3 2007: 499m£427m) – despite sales at its parent company falling by 7.1 per cent to 10.2bn (£8.7bn)

Further warnings from retailer

Inchcape has issued a profit warning for 2008 and 2009, while Pendragon is reportedly in talks with its bankers in order to avoid breaching its banking covenants

Fiat rings up fleet deal with Nokia

Editor’s Letter

Q2 motor insolvencies at peak since 2001, says Experian

Information services company Experian reported the worst Q2 for automotive company bankruptcies since 2001, with a 30.9 per cent increase on Q2 figures from 2007 Despite a positive Q1, 72 businesses failed during April, May and June, bringing the years total to 134, 10.7 per cent more than 2007s first half total The motor industry ranked tenth in Q2 insolvency levels out of 34 industries analysed, where overarching figures showed a 19.7 per cent rise in business insolvencies during the quarter.

Horners Motor Group goes under

Horners Motor Group goes under North-west independent retailer Horners Motor Group has gone under, it has emerged, with the loss of up to 73 jobs at two sites in Manchester and Rochdale. The receivers, from BDO Stoy Hayward, said in a statement: Following an immediate business review, the administrators have, regrettably, had to close both sites with the loss of the majority of jobs. However, there is a chance the sites might be sold to another group, said business restructuring partner at BDO, Matthew Dunham: We remain hopeful of securing a sale of both Horners sites.

Short-term lessor Flexxilease opens Newcastle office

Short-term lessor Flexxilease opens Newcastle office Flexxilease has opened a new office in Newcastle, a significant expansion for the short-term lessor which has until now runs its national operations from the office of its parent company One Stop Car Shop in Verwood, Dorset.

Short-term lessor opens Newcastle office

Short-term lessor opens Newcastle office Flexxilease has opened a new office in Newcastle, a significant expansion for the short-term lessor which has until now runs its national operations from the office of its parent company One Stop Car Shop in Verwood, Dorset.

How not to lose that loving feeling

There is no doubt that right now is the time for lenders and dealers to work together in adopting the customer retention management (CRM) technology that is becoming increasingly available to them