All articles by MF Editorial
MF Editorial
ECO win for newly-acquired firm
ECO win for newly-acquired firm WBB Minerals has switched the provider of its employee car ownership (ECO) scheme to Provecta, it was announced WBB, a major player in the global provision of industrial minerals, has run an ECO scheme for its UK employees for seven years, but switched its 80-strong fleet to Provecta in order to improve direct communication to drivers, Provecta said
Inchcape Fleet Solutions launches grey fleet monitoring system
Inchcape Fleet Solutions launches grey fleet monitoring system One alternative to a company car scheme is not to offer any kind of a scheme at all In the past, many companies have sidestepped the complicated administration surrounding the managing of a company car fleet by relying on employees using their own vehicles as and when necessary, although this practice has lately come under increasing scrutiny thanks to concerns over corporate manslaughter, duty of care and health and safety of company drivers
Lessor cuts its carbon emissions
Lessor cuts its carbon emissions ALD Automotive has conducted a review of its fleets carbon profile, and has found that both the average emissions profile of the vehicles it delivered between January 2003 and December 2007 and the annual average mileage of its drivers have fallen. In January 2003, the average company car delivered by ALD emitted 166.9g CO2km, while by December of last year this had fallen by 7.8 per cent to 153.8 gkm – well below the fleet sector average for 2007 of 164.2gkm, as measured by the SMMT. In 2003 as a whole, company cars added to the ALD Automotive were contracted to clock up an average 22,475 miles, but in 2007 the average contract mileage was 17,918 – a reduction of 4,557 miles a year, ALD announced
BMW Financial Services launches branded warranty ranges
BMW Financial Services launches branded warranty ranges In conjunction with insurance and warranty provider Mondial Assistance, BMW Group Financial Services (BMWFS) has launched a new range of branded insured warranty products for customers of BMW and MINI cars, and BMW motorbikes whose original manufacturer warranties are coming to an end
Driver safety guide following Corporate Manslaughter Act
Corporate fleet management and leasing company GE Capital Solutions, Fleet Services has issued a guide for business drivers following the introduction of the Corporate Manslaughter Act on April 6
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Cardif Pinnacle acquires Warranty Direct, adds new PPI product
The insurance arm of BNP Paribas, Cardif Pinnacle has acquired internet-based warranty provider Warranty Direct, for an undisclosed sum. The two companies have complementary business models. Both companies operate through affinity partners and motor dealers through dealer warranty programmes, Cardif said.
GE Money’s UK motor loans division to change hands
The auto financing business of GE Money in the UK is to change hands as part of a wider deal, it was announced. Banco Santander is to acquire the unit, along with GE Moneys UK card business and the GE Money operations in Austria, Finland, and Germany, which have combined assets of 9bn (£7.1bn) and are valued at 1bn (£790m). The businesses acquired from GE will become parts of Santander Consumer Finance and Santander Cards.
ISIS Equity Partners buys Nexus Vehicle Management for £11m
ISIS Equity Partners has acquired Nexus Vehicle Management Ltd in an £11m management buyout deal. The rental broker, which pioneered paperless rental trading, will be led by its newly appointed CEO, Neil McCrossan and operations director, John Ellis.
Budget 2008: VED to be emissions-linked
The way in which Vehicle Excise Duty (VED) is structured is to be shaken up, announced chancellor Alistair Darling in the 2008 Budget speech, with incentives for choosing less-emitting models coming into force from 2009.
Consumer credit licence costs go up
With effect from April 6, the cost of consumer credit licences will rise steeply. For sole traders, a standard consumer credit licence fee will rise from £135 to £210, while all other applicants will be charged £575, up from £335. The cost of amending details on a licence will also rise, from £50 to £80.