All articles by MF Editorial
MF Editorial
Caffyns results show trading loss in 2007
Caffyns results show trading loss in 2007 Motor retailer Caffyns has announced a trading loss of £197,000 for the 12 months to March 31 2008, after increased pressure on margins in the second half of the year. The chairman of Caffyns, Brian Carte blamed the downturn on a worsening in the economic environment coupled with the effects of tax increases in April 2007 and the developing credit crunch, along with reducing customer confidence and competitive pressures.
Hummer brand to be sold?
The chief executive of General Motors (GM), Rick Wagoner, has signalled that the manufacturer may be considering a sale of its Hummer brand, after announcing a strategic review of the marques future.
Vans for housing group
Vans for housing group Lombard Vehicle Management (LVM) has won a sole-supply agreement with Calico Housing to provide it with a fleet of car-derived Vauxhall vans on a contract hire basis. Calico facilities manager Julia Brown said: Lombard was our existing supplier, but we conducted a rigorous tender and they emerged as the clear winners. Burnley-based Calico manages 4,500 rented houses.
Colin Tourick
Inflation is creeping up, petrol prices have rocketed, government borrowings are rising, the housing market is in trouble and new car sales have slowed
Excellent year for captive in 2007
The lions share of Honda’s financial services businesses sales came from the North America operation, Honda Finance Corp (see table 1), where year-on-year net sales rose by 33 per cent to JPY483.9bn (£2.4bn), although all international regional groups saw sales increase, with particularly strong growth in Asia (excluding Japan), up 57 per cent
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Welcome Car Finance cuts back non-prime lending
Welcome, part of Cattles plc, announced that, following a review of distribution channels and its product portfolio, it has made a business as usual strategic decision to stop working through third-party dealerships and brokers, in common with many lenders in the mortgage market, to maximise profitability whilst looking to grow the business in Welcome Car Finance.
ANZ firm looks to break into UK software market
A major player in Australia and New Zealand in the area of specialist software for the automotive sector has launched a UK business unit Turners NetResult (TNR) has achieved what it described as market saturation in the Antipodes for its software product offering, which are aimed at wholesale financiers, auction houses, remarketers and dealer groups
Online rental management from Inchcape Fleet Solutions
Inchcape Fleet Solutions is to launch a web-based rental management system, IRental, at the end of April, which will allow customers to place, view and amend vehicle hire bookings 247 whilst also complementing the companys current rental process, IFS said.
New data transfer system for LeasePlan
LeasePlan has signed a deal with Riverbed Technology to deploy the technology companys wide-area data services system across its UK offices.
Vertu: 2008 results to meet expectations
Motor retail group, Vertu Motors plc is to report that full year financial results are in line with market expectations.In a trading update on March 5, Vertu said it expanded operations with the opening of a new Bristol Street Motor Nation used car outlet in Doncaster in March.