All articles by MF Editorial
MF Editorial
Mixed results as car values up, van prices down
Car values continue to strengthen with prices rising by 0.6% across the market, Manheim Remarketing reported last month. Dealer part-exchange values rose by 3% between April and May, while manufacturer stock rose in value by 1.6%
On the move: Citroën
Citron UKs sales director for Northern Europe Christophe Musy has taken over day-to-day operational duties while the company looks for a replacement for Gary Savage, who resigned to take up a role at Mercedes Benz Cars in the UK
Mazda launches major drive to expand fleet operations
A major effort has been launched by Mazda Motor Europe to build up its fleet business Although around half of all Mazdas European fleet sales are in the UK and the Netherlands, the Japanese company made clear that it plans to expand its fleet business across Europe, including in parts of Central Europe, Denmark, Norway, Poland, Portugal, Sweden and Switzerland. To enhance its fleet capability, which currently represents less than 15% of European volumes, Mazda Motor Europe has made several key hires in recent weeks (On the move, Mazda Motor Europe).
Dealers need to refocus, says NA
Franchise dealers should be refocusing on new car sales to fleets during the rest of 2010, according to motor industry consultancy Network Automotive. Network Automotive MD Colin Bruder said: Most franchise dealers have taken their attention away from fleet new car sales in the last couple of years, because that sector of the market has been so sluggish.
Vervaet joins Bynx
The former head of ING Lease Group, Alain Vervaet, has joined automotive software company Bynx Limited as a non-executive director. Vervaet will help Bynx, which specialises in providing software for the contract hire, fleet management and rental originated market, as it seeks to make inroads into the pan European market. Bynx Limited group managing director Mark Binks said: Vervaets appointment brings a wealth of European expertise to the board.
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Profits still healthy at Ford Credit UK
Ford Credit Britain, part of FCE Bank plc, reported pre-tax profits of £223m last month. Although pre-tax profits dropped by £77m compared with 2008, the funders 2009 report describes it as a creditable performance. However, it also showed a decrease in sales of new and used car lease contracts in 2009, dropping to 493,000, from 640,000 in 2008.
On the move: May
Leasing and fleet management company Tusker has appointed Alison Collier as new supplier relationship manager. Collier has over 20 years experience in the fleet sector, having worked with Bank of Scotland Vehicle Finance as purchasing manager and, most recently, as manufacturer relationship manager until 2008, when she moved into asset finance within BoS. In her new role, Collier will be responsible for managing relationships with suppliers, including motor manufacturers, dealers and fast-fit companies as well as looking at service levels and negotiating terms and discounts.
New hire at expanding Close
Close Motor Finance continues its expansion with the appoint-ment of Paul Trail as its regional director for the southern region. Trail will be responsible for managing the England and Wales businesses of Close, which in recent months has launched a key accounts team focused on partnerships with franchised dealerships, dealer groups and manufacturer relationships. Trail previously worked at Natwest, Avco Trust and Lex Vehicle Leasing, and before that HFC bank and Real Personal Finance.
Car lessors concerned over election outcome
The car leasing industry has voiced its concern following this months general election fearing that a coalition government might not be able to tackle key issues for the sector. BVRLA chief executive John Lewis said that, in order to tackle the budget deficit, higher taxes and public spending cuts will be top of the new governments agenda making transport an easy target. He said: We must try and send a clear message to the new government that cutting large-scale road investments and piling yet more increases on over-taxed road users would be just as damaging to the economy as raising business taxes.
Lex and Black Horse in £3.6m sale bonanza
Fleet lessors Lex Autolease and Black Horse have sold over 300 convertibles at the latest British Car Auctions (BCA) convertible event. The sale attracted over 200 buyers to the BCA auction site in Brighouse, with a further 100 dealers bidding via the internet