All articles by Mike Cobb
Mike Cobb
Banque PSA revenues fall 17% as group cuts losses
Banque PSA, the finance arm of the Peugeot Citroën brands, has reported a 17.5% decrease in net revenue for 2013 from 1.08bn (£900m) to 891m for 2013, as the car making group struggles to return to profit.
Dealers have to offer more on used cars: RAC Warranty
The availability of cheap new car finance has forced used car dealers to improve their customer propositions, according to RAC Warranty, a division of the UK motoring organisation RAC.
Citroën makes finance push ahead of reg change
Citroën has begun offering a number finance deals including offers on its newly-launched Grand C4 Picasso and popular DS3 models ahead of the approaching number plate change.
Many dealers unprepared for 1 April says iVendi
Six weeks before the 1 April Financial Conduct Authority takeover of regulation of consumer finance, iVendi, the motor finance technology provider, has warned that many motor dealers have “yet to take any action.”
Renaults finance division adds 19% to new contracts in 2013
RCI Banque, the finance division of Renault added 747m (£622m) to the French car maker’s profits and had a 19% year-on-year increase in new financing contracts in the 12 months to the end of December 2013, taking total contracts for the year up to 1.16 million.
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Nissan income up 407% but company trails rivals
Nissan Motor Co, the Japanese arm of Franco-Japanese manufacturing alliance Renault-Nissan, has reported a net income to the end of the third quarter of the financial year of ¥274.1bn (2.07bn) a rise of 407% on the same three quarters in 2012.
Jaguar Land Rover increases sales 27% in third quarter 2013/14
Indian owned British luxury car maker Jaguar Land Rover Automotive (JLR) reported a 27% year-on-year increase in third quarter sales in 2013 and a pre-tax profit for the quarter of £842m.
New car finance grows 27% in December
The value advanced for new car financing increased 27% year-on-year to £804m in December according to figures released by the Finance and Leasing Association.
LeasePlan predicts world of cloudcars
With the coming of self driving cars in as few as 3 years, the UK division of lease management company LeasePlan, predicts that drivers will be able to subscribe to a ‘cloud’ of driverless cars within just a few years more.
New car registrations up 7.6% to over 154,000 in Jan
Growth in UK car registrations has continued into 2014, with new cars registered in January up 7.6% year-on-year to 154,562, making it the 23rd consecutive rise, according to data from the Society of Motor Manufacturers and Traders (SMMT).