All articles by MF Editorial
MF Editorial
New car market grows 11.5%
New car registrations rose 11.5% in April 2010 compared to a year before, according to the Society of Motor Manufacturers and Traders (SMMT). Demand for fuel-efficient vehicles remained strong, and diesel penetration rose for the first time since March 2009, the organisation said.
Fleet industry trade associations join forces
The Association of Car Fleet Operators (ACFO) and the Institute of Car Fleet Management (ICFM) have agreed to work in partnership on a number of issues in order to introduce themselves to a wider group of industry operators.
Outbreaks of optimism’ in CV sector
Commercial vehicle operators should try and identify existing opportunities to purchase used vehicles, according to vehicle valuation specialist Glasss. According to Glasss Guide, the used LCV segment has been performing strongly at auction particularly Ford Fiesta and Vauxhall Astra Club models, while demand for Vauxhall Combo has recently improved.
Alastair Campbell to speak at leasing event
Tony Blairs former chief press officer Alastair Campbell will be one of the key speakers at a conference organised by public sector vehicle lessor Automotive Leasings on 29 June. LeasePlan-owned Automotive Leasing brand director Stuart Walker said: As an industry, we have come out of an incredibly difficult economic period that has led to significant challenges in how public sector fleets need to operate, now and in the future.
BCA: used van prices still rising
Strong demand continued to fuel prices in the UKs used light commercial vehicle market last month, British Car Auctions (BCA) figures have shown. Average LCV values were £4,500 in March, 1.8% down compared to February, but almost £1,000 above March 2009 figures.
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Expanding IFS selects software giant
International fleet manager International Fleet Services (IFS) has appointed software company Mycompanyfleet to administer its client fees. The Cambridge-based company selected Mycompanyfleet, the automotive division of global HR solutions provider NorthgateArinso, as it could provide a flexible, scalable, web-delivered fleet management solution. IFS hopes Mycompanyfleets software will assist the company as it continues to establish direct relationships with end-user fleets.
On the move April 2010
Fleet solutions provider Zenith Provecta has appointed Robert Butler as its new financial controller.
Databank: Strong first quarter
An interesting picture emerged in the figures this month as the overall average price of a used car at BCA fell by 2.8%, to £5,791, yet values in the three key component sectors fleet and lease, part-exchange and nearly-new all rose by various margins.
Close MF opens new branch
Close Motor Finance has expanded its branch network with the announcement of a new outlet in Swindon. The branch Closes 11th will cover Oxfordshire, Wiltshire, Berkshire, Bristol and Somerset, the lender said, and will be headed up by Ryan Scaife. Outstanding loans with dealers in the area covered by the new branch will stay with their existing account handlers, to avoid disruption, Close said.
When the going gets tough…
Financial results: BMW FS, Banque PSA, Renault Sales Finance, VW FS, Lookers and Inchcape have mixed year. The 2009 results for BMW Financial Services were adversely affected by the “weak state of the global economy,” the German carmaker said, causing new financing and lease business to decline