All articles by MF Editorial

MG appoints dealer stock finance partner

MG appoints dealer stock finance partner GE Capital Solutions, Commercial Distribution Finance has been chosen by Nanjing Automotive Corporation (NAC MG) to provide dealer stock finance options for the return of the MG brand

A revolution at the point of sale?

The prospect of a Black HorseBank of Scotland Dealer Finance merger would radically alter the shape of the UK point of sale finance market Of all the major UK banks which could have combined their operations, it seems somehow inevitable that the two which are, circumstances permitting, to merge are the two with the largest presence in the consumer point-of-sale motor finance market Black Horse Motor Finance and Bank of Scotland Dealer Finance (BoSDF) have remained in the market while other banks have withdrawn, despite toughening conditions, eroding margins and a perception among banking theorists that running a motor finance arm is perhaps not a core business area

PPI: Competition Commission slams point of sale advantage and single-premium policies

The Competition Commissions just-published provisional findings on the payment protection insurance (PPI) market have provoked outcry from the finance industry

Writedowns at luxury carmaker’s captive arm

Porsche reported that its financial services businesses put aside 200m (£186m) to cover amortisation, depreciation and write-downs on leased assets in its latest set of full-year results, up from 182.9m (£169.8m) in the previous reporting period

Car-buyers ‘unhappy’ with online experience

Motor Spy

Manheim management system adopted by Masterlease

Manheim management system adopted by Masterlease Fleet provider Masterlease has opted for Manheims new Remarketing Management System (RMS), covering logistics, inspection, reconditioning and sales channels with the aim of centralising control of all remarketing processes Masterlease remarketing head Glyn Fisher praised the smoothness of the upgrade: The degree of cooperation demonstrated throughout has been tremendous, while John Given, Manheims group sales director lauded the ease of use and flexibility of the software.

Enterprise Inns staff to get ECO cars from Zenith Vehicle Contracts

Enterprise Inns staff to get ECO cars from Zenith Vehicle Contracts Zenith Vehicle Contracts has won a new contract to supply 220 cars to the employees of Enterprise Inns plc, one of the largest leased and tenanted pub companies in the UK.

Pendragon to cut 500 jobs

Pendragon to cut 500 jobs The UK’s largest car retailer Pendragon has announced that it is to cut 500 jobs, as a response to “difficult and competitive trading conditions”. Despite the ominous news in its pre-closing statement, Pendragon confirmed that it remained “profitable and cash generative”, with sales volumes remaining “robust relative to the market”, with aftersales continuing to perform “well”.

Technology upgrade for fleet’s systems

Technology upgrade for fleets systems ALD Automotive has announced a series of major upgrades to its fleet administration and customer service IT systems. Its suite of online fleet management applications, formerly known as QuDOS, has had its online ordering process enhanced, and has been rebranded as threesixty, ALD said. The enhancements see the upgrading of functionality to enable changes to fleet policies as well as driver information to be completed online by customers – instead of clients informing ALD Automotive which has then administered the changes