All articles by MF Editorial
MF Editorial
Tesco staff offered personal leasing pilot with Lombard Vehicle Management
The staff of UK supermarket Tesco have been offered personal car leasing through a tie-up between the supermarket and fleet management and leasing company Lombard Vehicle Management The scheme, accessed through a password-protected website, is separate from Tescos company car scheme for staff, said Tesco spokesman Matthew Dransfield While Tesco employs over 250,000 people in the UK, making it the countrys largest private employer, the number of those eligible for the private leasing scheme was not disclosed.
GMAC Financial Services reports loss of $2.5bn
GMAC Financial Services reports loss of $2.5bn GMAC Financial Services, the automotive, real estate, insurance and commercial business financier, reported a net income loss of $2.5bn for the second quarter of 2008, down $2.7bn from a net income gain of $293m in Q2 2007. GMACs loss was predominantly the result of $716m impairment in vehicle operating lease assets in the automotive finance business, due to declining vehicle sales and lower prices for some used vehicles segments
BCT looks for “quality and volume” from brokers
BCT looks for quality and volume from brokers Non-prime motor finance house British Credit Trust (BCT) has cut its ties with a number of brokers that it deemed underperforming. CEO of BCT, John Sinclair confirmed to Motor Finance that brokers which failed to deliver the volume and the quality of business that the finance house needs have had their relationships with BCT terminated. Sinclair declined to give details of numbers of broker relationships which have been ended for these reasons in recent months, but emphasised that BCT is committed to the UK broker sector, and that the lions share of BCTs brokers are still supporting the business.
Systems upgrade for ALD Automotive
Systems upgrade for ALD Automotive 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
Restructuring may see redundancies
Restructuring may see redundancies In the wake of the credit crunch, GE Capital Solutions is to undertake a strategic review of its business that may lead to redundancies – which could potentially hit its car leasing subsidiary, GE Capital Solutions Fleet Services. A spokesperson for GE Capital Solutions said: We can confirm that GE Capital Solutions, the leasing, lending and asset management business, has completed a strategic review of its UK operations in light of the ongoing global economic turmoil. As a result, GE Capital Solutions – which includes major fleet management, equipment leasing and commercial distribution finance operations – will concentrate on providing value-added solutions and services to mid, large and multi-country customers across Europe
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Trio of new appointments at Hitachi Capital Vehicle Solutions
Trio of new appointments at Hitachi Capital Vehicle Solutions The UK sales team at Hitachi Capital Vehicle Solutions has been bolstered by a trio of new appointments Derek Thornton is the new manager of strategic accounts, Brendan Moran is in charge of corporate sales, and Peter Leyden is responsible for SME sales
Total Accident Management bags Sinclair contract
Total Accident Management bags Sinclair contract Total Accident Management, the repair and claims management subsidiary of Helphire Group has secured a deal to manage vehicle accident claims for clients of Sinclair Finance and Leasing.
Manufacturer promotions blitz in coming months
Manufacturer promotions blitz in coming months Information company Parkers Car Price Guide has collected together data on current and forthcoming manufacturer finance deals on new cars. Chrysler, Dodge and Jeep have slashed prices by over £2,000 on some models, Daihatsu has extended the warranties on its Terios and Sirion ranges from three to five years, and Kia is selling its diesel-engine Ceed for the same price as a petrol version, Parkers reported.
County council renews staff car scheme with lessor
County council renews staff car scheme with lessor ING Car Lease has won a renewal of its contract to provide the employees of Staffordshire County Council with company cars.
The Arranger
Life these days has become pretty much excitement-free.Things have gone a bit quiet on the totty front language, Graham Ed. and since I only get excited by sports that involve wheels or the participation of England theres not much to shout about