All articles by MF Editorial

GMAC UK not following US arm’s lead in restricting loans

While GMAC in the US has restricted car loans to non-prime consumers, the former captives UK arm has not significantly slowed its support for new car approvals, said managing director for sales and marketing, Dennis Foley There has been a very slight tightening in GMAC UKs underwriting due to overall economic conditions, but we are still working together with General Motors GM and Vauxhall to support dealers and customers.

Carrier Letter

Provecta ECO arrangement gives green cars for Fitzpatrick staff

Contract hire firm ALD Automotive has signed a three-year tyre management contract with Kwik-Fit Fleet, developing a four-year partnership between the 47,000-strong fleet operator and the maintenance provider, which has 670 centres and 200 mobile units The contract will offer 247 service to ALD customers through Kwik-Fits Fleet Service Centre, plus tyre safety checks as part of ALD Automotives DriveSafe suite of risk management initiatives.

JATO: Tough market conditions hit Europe’s YTD new car sales

JATO: Tough market conditions hit Europes YTD new car sales EDITED PRESS RELEASE Market down 2.3% Year-to-Date (YtD) Market down 8.7% in June

SsangYong names Siemens Motor Contracts as B2B finance provider

SsangYong names Siemens Motor Contracts as B2B finance provider Koelliker UK Limited, the distributor of Chinese manufacturer SsangYong’s vehicles in the UK, has appointed Siemens Motor Contracts (SMC) as sole provider of finance to business customers for its 30 dealerships nationwide.

300,000th fleet car delivered

The multi-marque fleet management and leasing company had a successful 2007, with 56 per cent growth, boosted by acquisitions of LHS Leasing- und Handelsgesellschaft mbH and DSL Fleetservices GmbH, while organic growth stood at a healthy 21 per cent to Alphabets European fleet size.

Fleets stung by auction cost rises, says SMA

Auction sellers may be hit with higher charges as a result of an unprecedented cost increase when selling through motor auction houses due to fuel price rises, warned the RMI Society of Motor Auctions (SMA) – compounding the misery for fleets, as prices achieved for stock at auction tumble (see article, above) Auction sellers may be hit with higher charges as a result of an unprecedented cost increase when selling through motor auction houses due to fuel price rises, warned the RMI Society of Motor Auctions (SMA) – compounding the misery for fleets, as prices achieved for stock at auction tumble (see article, above). Economic pressures, most pressingly the fifty per cent increase in the cost of fuel since December, are having a huge impact on profit margins and threaten to raise selling charges.

Out of court settlement for Yes Car Credit customers

Out of court settlement for Yes Car Credit customers A couple taken to court over an outstanding car loan by a company which had bought some of the debts of Yes Car Credit have won an out-of-court settlement, after it was found that a payment protection insurance (PPI) policy, taken out along with the loan, had been mis-sold

Dealers must abide by new consumer laws, says NFDA

Dealers must abide by new consumer laws, says NFDA EDITED PRESS RELEASE Car dealers must make sure that they abide by new consumer protection rules that came into force this week, according to the RMI National Franchised Dealers Association (NFDA). The Unfair Commercial Practices Directive (UCPD) provides better protection for the consumer

Defleeted hybrids should be moved to south-east

Defleeted hybrids should be moved to south-east Lex has conducted a review of the second-hand market which found that the south-east of England is the best place to sell a defleeted hybrid, thanks to the effect of the London Congestion Charge and that some SE-based vendors should consider shifting their higher powered petrol engined cars above two litres to other regions of the country, to take advantage of more favourable conditions for these types of vehicle.