European true fleet market delivers strong 2017 performance – but UK lags behind

True fleet car registrations grew in four out of five of the biggest markets in Europe last year, with the UK the only exception as sales struggled amid the ongoing uncertainties of Brexit. By contrast, true fleet sales in France, Germany, Italy and Spain reached record levels, according to figures from European fleet market data and automotive intelligence solutions provider Dataforce. Its analysis relates to end-user fleet sales, excluding rental and OEM self-registrations, for companies of all sizes, covering businesses that operate just a single vehicle through to Europe’s largest company car fleets.

European true fleet market delivers strong 2017 performance – but UK lags behind

Feb 19, 2018

True fleet car registrations grew in four out of five of the biggest markets in Europe last year, with the UK the only exception as sales struggled amid the ongoing uncertainties of Brexit. By contrast, true fleet sales in France, Germany, Italy and Spain reached record levels, according to figures from European fleet market data and automotive intelligence solutions provider Dataforce. Its analysis relates to end-user fleet sales, excluding rental and OEM self-registrations, for companies of all sizes, covering businesses that operate just a single vehicle through to Europe’s largest company car fleets.

LeasePlan considers flotation following record year

Global vehicle management and mobility company LeasePlan is investigating a stock market flotation after record results for the business. The underlying 2017 net result at the leasing giant increased 17% to €532 million ($657 million), while its serviced fleet increased 5.5% to 1.7 million vehicles. A flotation is one of several strategic options for the business, but if approved a listing on the Amsterdam stock exchange could take place as early as June. LeasePlan, which had revenues of €9.4 billion ($11.6 billion) last year, is reshaping itself as a ‘Car-as-a-Service’ provider, offering a variety of services in addition to leasing, including subscription packages that provide access to new and used cars.

LeasePlan considers flotation following record year

Feb 19, 2018

Global vehicle management and mobility company LeasePlan is investigating a stock market flotation after record results for the business. The underlying 2017 net result at the leasing giant increased 17% to €532 million ($657 million), while its serviced fleet increased 5.5% to 1.7 million vehicles. A flotation is one of several strategic options for the business, but if approved a listing on the Amsterdam stock exchange could take place as early as June. LeasePlan, which had revenues of €9.4 billion ($11.6 billion) last year, is reshaping itself as a ‘Car-as-a-Service’ provider, offering a variety of services in addition to leasing, including subscription packages that provide access to new and used cars.

EV leasing service to power next stage of Arval’s fleet growth

Vehicle funding and management company Arval is launching a new electric vehicle leasing service across Europe as part of its growth strategy for 2018 and beyond. The announcement comes on the back of strong fleet growth of 7.4% in 2017 that saw its fleet reach more than 1.1 million vehicles globally. The strongest growth came in France (+5%), Italy (+10%) and Spain (+15%), as well as double-digit growth in countries including Austria (+10%), Belgium (+12%), Czech Republic (+12%), Luxembourg (+22%), Poland (+19%), Russia (+12%), Turkey (+16%) and the Latin America region (+13%). Arval also expanded its global network with a launch in Norway during 2017, which leads the adoption of low-emission vehicles in Europe. Alternative fuel vehicles accounted for 52% of total car sales in Norway last year.

EV leasing service to power next stage of Arval’s fleet growth

Feb 19, 2018

Vehicle funding and management company Arval is launching a new electric vehicle leasing service across Europe as part of its growth strategy for 2018 and beyond. The announcement comes on the back of strong fleet growth of 7.4% in 2017 that saw its fleet reach more than 1.1 million vehicles globally. The strongest growth came in France (+5%), Italy (+10%) and Spain (+15%), as well as double-digit growth in countries including Austria (+10%), Belgium (+12%), Czech Republic (+12%), Luxembourg (+22%), Poland (+19%), Russia (+12%), Turkey (+16%) and the Latin America region (+13%). Arval also expanded its global network with a launch in Norway during 2017, which leads the adoption of low-emission vehicles in Europe. Alternative fuel vehicles accounted for 52% of total car sales in Norway last year.

REVEALED: Why 2018 will be different for auto and equipment finance leaders

More than 30 auto and equipment finance industry leaders from across the globe have revealed the influences and trends that will make 2018 a transformational year for the sector. A major new report, released by White Clarke Group, explores the most important global issues facing the industry. White Clarke Group’s Global Auto and Equipment Finance Report 2018 reveals that industry executives rank digitalization as one of the most important issues on their agenda for this year.

REVEALED: Why 2018 will be different for auto and equipment finance leaders

Jan 25, 2018

More than 30 auto and equipment finance industry leaders from across the globe have revealed the influences and trends that will make 2018 a transformational year for the sector. A major new report, released by White Clarke Group, explores the most important global issues facing the industry. White Clarke Group’s Global Auto and Equipment Finance Report 2018 reveals that industry executives rank digitalization as one of the most important issues on their agenda for this year.

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City of London Group names leadership team for new banking venture

City of London Group has announced the senior team that will lead the creation of a new UK challenger bank. It has announced a formal agreement with the team, comprising Jason Oakley (pictured above), Adrian Golumbina and Bryce Glover. Oakley built the lending business of Metro Bank, as managing director commercial banking and mortgages ,from £65m to over £2.5bn in less than three years. Prior to this he was head of SME for NatWest and RBS, with more than 3,000 relationship managers looking after one million clients and in excess of £1 billion of revenue.

City of London Group names leadership team for new banking venture

Feb 09, 2018

City of London Group has announced the senior team that will lead the creation of a new UK challenger bank. It has announced a formal agreement with the team, comprising Jason Oakley (pictured above), Adrian Golumbina and Bryce Glover. Oakley built the lending business of Metro Bank, as managing director commercial banking and mortgages ,from £65m to over £2.5bn in less than three years. Prior to this he was head of SME for NatWest and RBS, with more than 3,000 relationship managers looking after one million clients and in excess of £1 billion of revenue.

Fleets briefed on future transport at CLM electric vehicle experience day

Fleet solutions provider CLM has partnered with Renault and charging solutions provider Chargemaster to brief UK fleet operators on the future of electric vehicles. The day included advice on EV management, running costs and hands-on testing of a range of Renault zero-emission vehicles. Renault brought along a number of EVs for testing, including the ZOE, Twizy and Kangoo ZE van.

Fleets briefed on future transport at CLM electric vehicle experience day

Feb 09, 2018

Fleet solutions provider CLM has partnered with Renault and charging solutions provider Chargemaster to brief UK fleet operators on the future of electric vehicles. The day included advice on EV management, running costs and hands-on testing of a range of Renault zero-emission vehicles. Renault brought along a number of EVs for testing, including the ZOE, Twizy and Kangoo ZE van.

Metro Bank expands with 900 new jobs in 2018

Metro Bank plans to create 900 new jobs in 2018 in a move which will take its UK workforce to almost 4,000. A key area of investment will be its apprenticeship scheme, which has around 100 places available. Last year, the bank became a certified employer provider, meaning that as well as hiring apprentices, it also delivers apprenticeship training through its dedicated in-house facility, Metro Bank University.

Metro Bank expands with 900 new jobs in 2018

Feb 09, 2018

Metro Bank plans to create 900 new jobs in 2018 in a move which will take its UK workforce to almost 4,000. A key area of investment will be its apprenticeship scheme, which has around 100 places available. Last year, the bank became a certified employer provider, meaning that as well as hiring apprentices, it also delivers apprenticeship training through its dedicated in-house facility, Metro Bank University.

Iveco and BNP Paribas Leasing Solutions launch green finance scheme

Commercial vehicle giant Iveco and BNP Paribas Leasing Solutions have joined forces to launch a green finance scheme that encourages the introduction of more environmentally-friendly vehicles. Under the scheme, preferential financing conditions will be offered to purchasers of Iveco vehicles that feature its Natural Power technology. This includes models that run on compressed natural gas, liquefied natural gas, bio-methane, electric vehicles or advanced diesels that are compliant with the most stringent Euro 6 RDE 2020 regulations.

Iveco and BNP Paribas Leasing Solutions launch green finance scheme

Feb 09, 2018

Commercial vehicle giant Iveco and BNP Paribas Leasing Solutions have joined forces to launch a green finance scheme that encourages the introduction of more environmentally-friendly vehicles. Under the scheme, preferential financing conditions will be offered to purchasers of Iveco vehicles that feature its Natural Power technology. This includes models that run on compressed natural gas, liquefied natural gas, bio-methane, electric vehicles or advanced diesels that are compliant with the most stringent Euro 6 RDE 2020 regulations.

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UK asset finance market breaks records

Asset finance new business reached record levels in 2017 following growth of 5% during the year, according to the latest figures from the UK's Finance & Leasing Association (FLA). The sector achieved its seventh consecutive year of growth, with new business levels reaching almost £32 billion last year. The plant and machinery finance and commercial vehicle finance sectors reported new business up in 2017 by 12% and 1% respectively, compared with 2016, while new finance for business equipment was up by 7% over the same period.

UK asset finance market breaks records

Feb 09, 2018

Asset finance new business reached record levels in 2017 following growth of 5% during the year, according to the latest figures from the UK's Finance & Leasing Association (FLA). The sector achieved its seventh consecutive year of growth, with new business levels reaching almost £32 billion last year. The plant and machinery finance and commercial vehicle finance sectors reported new business up in 2017 by 12% and 1% respectively, compared with 2016, while new finance for business equipment was up by 7% over the same period.

New car ownership in reverse as leasing overtakes hire purchase

Consumers in the UK are turning their back on hire purchase in increasing numbers as they opt for personal leasing instead, according to new research. Vehicle marketplace ContractHireAndLeasing.com found the value of hire purchase agreements fell 9.8% in the 12 months to November 2017. Its annual personal leasing report found that personal contract hire demand grew 12.7% over the same period, meaning it overtook hire purchase as the second most popular form of new car finance with a market share of 9.2% in 2017.

New car ownership in reverse as leasing overtakes hire purchase

Feb 08, 2018

Consumers in the UK are turning their back on hire purchase in increasing numbers as they opt for personal leasing instead, according to new research. Vehicle marketplace ContractHireAndLeasing.com found the value of hire purchase agreements fell 9.8% in the 12 months to November 2017. Its annual personal leasing report found that personal contract hire demand grew 12.7% over the same period, meaning it overtook hire purchase as the second most popular form of new car finance with a market share of 9.2% in 2017.

Iseki UK signs with Hitachi Capital Business Finance

Iseki UK and Ireland, the agricultural and grounds care equipment company, has chosen Hitachi Capital to provide floor-plan services to its network of 60 dealers across the UK. As part of the agreement, both companies intend to launch new retail finance options later in the year.

Iseki UK signs with Hitachi Capital Business Finance

Feb 08, 2018

Iseki UK and Ireland, the agricultural and grounds care equipment company, has chosen Hitachi Capital to provide floor-plan services to its network of 60 dealers across the UK. As part of the agreement, both companies intend to launch new retail finance options later in the year.

MarketInvoice partners with Euler Hermes to protect invoice finance customers from bad debt

Online UK business finance company MarketInvoice has established a partnership with global trade-credit insurance firm Euler Hermes to provide credit insurance policies to customers. The arrangement means that MarketInvoice customers who use invoice finance solutions will be protected in the event their customer becomes insolvent or fails to pay within the agreed terms.

MarketInvoice partners with Euler Hermes to protect invoice finance customers from bad debt

Feb 08, 2018

Online UK business finance company MarketInvoice has established a partnership with global trade-credit insurance firm Euler Hermes to provide credit insurance policies to customers. The arrangement means that MarketInvoice customers who use invoice finance solutions will be protected in the event their customer becomes insolvent or fails to pay within the agreed terms.

 

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cap hpi restructures team of industry experts

Automotive industry expert Derren Martin has been appointed as head of current valuations at cap hpi. The announcement comes as cap hpi restructures its industry editorial experts to provide a greater range of consultancy services. The team of 11 will also continue to manage daily adjustments to Black Book Live used car data and support customers with bespoke insight and support. Martin has spent two years establishing the international team of valuation experts and analysts.

cap hpi restructures team of industry experts

Feb 08, 2018

Automotive industry expert Derren Martin has been appointed as head of current valuations at cap hpi. The announcement comes as cap hpi restructures its industry editorial experts to provide a greater range of consultancy services. The team of 11 will also continue to manage daily adjustments to Black Book Live used car data and support customers with bespoke insight and support. Martin has spent two years establishing the international team of valuation experts and analysts.

Nordea appoints Christopher Rees as group CFO

Nordic bank Nordea has appointed Christopher Rees as its new group chief financial officer (CFO), head of group finance & treasury and member of its group executive management. Rees, who joined Nordea in 2015, is currently deputy head of wholesale banking and head of Nordea Markets. He will take over the role from March 1, 2018. Before joining Nordea, he held senior positions in investment banking, capital markets and risk at Barclays, Morgan Stanley and Merrill Lynch.

Nordea appoints Christopher Rees as group CFO

Feb 08, 2018

Nordic bank Nordea has appointed Christopher Rees as its new group chief financial officer (CFO), head of group finance & treasury and member of its group executive management. Rees, who joined Nordea in 2015, is currently deputy head of wholesale banking and head of Nordea Markets. He will take over the role from March 1, 2018. Before joining Nordea, he held senior positions in investment banking, capital markets and risk at Barclays, Morgan Stanley and Merrill Lynch.

Volvo achieves record profits as electric and autonomous future approaches

Global new car sales growth generated record operating profits at Volvo Cars last year. Operating profits increased 27.7% in 2017 to a record SEK14.1 billion ($1.7 billion), driven by global sales of 571,577 cars. Net revenue increased nearly 17% year-on-year to SEK210.9 billion ($26.1 billion), while its operating profit margin improved to 6.7%, compared to 6.1% the previous year. Global sales rose 7% during the year, underpinned by a rise of nearly 26% in China, the manufacturer’s largest market.

Volvo achieves record profits as electric and autonomous future approaches

Feb 08, 2018

Global new car sales growth generated record operating profits at Volvo Cars last year. Operating profits increased 27.7% in 2017 to a record SEK14.1 billion ($1.7 billion), driven by global sales of 571,577 cars. Net revenue increased nearly 17% year-on-year to SEK210.9 billion ($26.1 billion), while its operating profit margin improved to 6.7%, compared to 6.1% the previous year. Global sales rose 7% during the year, underpinned by a rise of nearly 26% in China, the manufacturer’s largest market.

Fintech disruptor Fair expands with funding from Siemens and BMW

US vehicle sourcing and funding app Fair has acquired the vehicle rental and delivery app Skurt in the latest stage of its rapid growth plans. The investment comes after Fair announced the closing of its latest round of strategic equity funding, which was led by next47, the Siemens-backed global venture firm. Other equity investors in the funding round were BMW, CreditEase FinTech Investment Fund, Millennium Technology Value Partners, 137 Ventures, G Squared, and Upfront Ventures.

Fintech disruptor Fair expands with funding from Siemens and BMW

Feb 08, 2018

US vehicle sourcing and funding app Fair has acquired the vehicle rental and delivery app Skurt in the latest stage of its rapid growth plans. The investment comes after Fair announced the closing of its latest round of strategic equity funding, which was led by next47, the Siemens-backed global venture firm. Other equity investors in the funding round were BMW, CreditEase FinTech Investment Fund, Millennium Technology Value Partners, 137 Ventures, G Squared, and Upfront Ventures.

Optimistic outlook for European leasing companies

European leasing companies are predicting new business volumes will increase in the first half of 2018. Research from Leaseurope, the representative body of the European leasing and automotive rental industry, also reveals that 65% expect net profits to rise, despite signs of an increasingly competitive market. Businesses provided their outlook for the year in the Leaseurope/Invigors European Business Confidence Survey, which was conducted in December 2017.

Optimistic outlook for European leasing companies

Feb 08, 2018

European leasing companies are predicting new business volumes will increase in the first half of 2018. Research from Leaseurope, the representative body of the European leasing and automotive rental industry, also reveals that 65% expect net profits to rise, despite signs of an increasingly competitive market. Businesses provided their outlook for the year in the Leaseurope/Invigors European Business Confidence Survey, which was conducted in December 2017.

ALD Merrion tops customer satisfaction table

An Irish company has been named as Europe's leading leasing provider for the second year in succession in analysis carried out by APD Global Research. Dublin-based ALD Merrion Fleet was identified as the best provider during 2017 in the annual APD Voiceback Tracker, which aggregates driver feedback from fleet operators running a combined total of more than 500,000 vehicles throughout Europe.

ALD Merrion tops customer satisfaction table

Feb 05, 2018

An Irish company has been named as Europe's leading leasing provider for the second year in succession in analysis carried out by APD Global Research. Dublin-based ALD Merrion Fleet was identified as the best provider during 2017 in the annual APD Voiceback Tracker, which aggregates driver feedback from fleet operators running a combined total of more than 500,000 vehicles throughout Europe.

Ebbon-Dacs achieves global information security standard

Online solutions provider Ebbon-Dacs has achieved an internationally recognised standard for its information security, to ensure it meets the data protection requirements of the company's major contract hire and leasing clients. Ebbon-Dacs online solutions are used by many of the UK’s major vehicle leasing companies, including nine of the 10 largest, to help sourcing, acquisition and vehicle movements on behalf of fleet clients. Its products include the Leaselink e-procurement system and the complementary vehicle delivery and collection system moDel, both of which process large volumes of client data and information.

Ebbon-Dacs achieves global information security standard

Feb 07, 2018

Online solutions provider Ebbon-Dacs has achieved an internationally recognised standard for its information security, to ensure it meets the data protection requirements of the company's major contract hire and leasing clients. Ebbon-Dacs online solutions are used by many of the UK’s major vehicle leasing companies, including nine of the 10 largest, to help sourcing, acquisition and vehicle movements on behalf of fleet clients. Its products include the Leaselink e-procurement system and the complementary vehicle delivery and collection system moDel, both of which process large volumes of client data and information.

Danske Bank UK selects Lendscape from HPD Software

Danske Bank UK, part of the Copenhagen-based Danske Bank Group, has replaced its legacy working capital technology with HPD's LendScape product suite. The move is intended to help drive growth in its invoice finance portfolio and follows the success of the software’s introduction in the bank’s Danish operations. Danske Bank UK will implement HPD’s Aquarius and Gemini modules, which are part of LendScape.

Danske Bank UK selects Lendscape from HPD Software

Feb 06, 2018

Danske Bank UK, part of the Copenhagen-based Danske Bank Group, has replaced its legacy working capital technology with HPD's LendScape product suite. The move is intended to help drive growth in its invoice finance portfolio and follows the success of the software’s introduction in the bank’s Danish operations. Danske Bank UK will implement HPD’s Aquarius and Gemini modules, which are part of LendScape.

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New leadership line-up at Cox Automotive

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