BCA Partner Finance hits new record

BCA Partner Finance has reported record demand in 2017 with funding provided for more than 100,000 vehicles. The business finance arm of remarketing giant BCA has grown rapidly and now supports 1,200 customers with finance facilities for used vehicle stocking.

BCA Partner Finance hits new record

Jan 15, 2018

BCA Partner Finance has reported record demand in 2017 with funding provided for more than 100,000 vehicles. The business finance arm of remarketing giant BCA has grown rapidly and now supports 1,200 customers with finance facilities for used vehicle stocking.

Used cars drive UK auto finance growth as new car demand falls

Used cars are increasingly taking the lead in the auto finance market as the UK new car market struggles. New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 8% in November 2017, compared with the same month a year ago. For the 12 months to the end of November, the number of new cars bought on finance by FLA members fell 7% year-on-year.

Used cars drive UK auto finance growth as new car demand falls

Jan 11, 2018

Used cars are increasingly taking the lead in the auto finance market as the UK new car market struggles. New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 8% in November 2017, compared with the same month a year ago. For the 12 months to the end of November, the number of new cars bought on finance by FLA members fell 7% year-on-year.

Used vehicle stock funding market set to double

The UK used vehicle stock funding market will at least double in the next three to four years, adding more than £1 billion of extra capital to the sector, according to NextGear Capital. The financing arm of Cox Automotive predicts that demand will continue to grow as the market is currently underserved, a factor which has driven NextGear Capital’s own rapid growth. Since launch, the finance company has funded around 200,000 vehicles and currently finances more than 15,000 vehicles.

Used vehicle stock funding market set to double

Jan 11, 2018

The UK used vehicle stock funding market will at least double in the next three to four years, adding more than £1 billion of extra capital to the sector, according to NextGear Capital. The financing arm of Cox Automotive predicts that demand will continue to grow as the market is currently underserved, a factor which has driven NextGear Capital’s own rapid growth. Since launch, the finance company has funded around 200,000 vehicles and currently finances more than 15,000 vehicles.

EMEA

UK auto dealers told ‘every penny is a prisoner’ in 2018

Jan 04, 2018

Cost control will be a major focus for UK auto dealers in 2018, as falling sales lead to increased competition for buyers and tighter margins. The car industry is cyclical by nature, but according to MotoNovo Finance Group chief executive officer Mark Standish, the latest decline could have more impact because the positive cycle lasted longer than usual.

Americas

US drives ahead in autonomous vehicle use

Jan 09, 2018

More than 33 million autonomous vehicles will be sold globally in 2040, according to the latest forecast from business information provider IHS Markit. The forecast is a substantial increase from the 51,000 units predicted for 2021, when vehicles are first expected to go on sale.

Asia Pacific

Volkswagen Financial Services Australia pays penalty for misleading finance ads

Nov 30, 2017

Volkswagen Financial Services Australia (VWFSA) has paid a penalty of AUD$216,000 (US$163,000) after the Australian Securities and Investments Commission (ASIC) issued infringement notices for alleged misleading advertising statements. The penalty related to VWSA’s ‘1% you can’t ignore’ advertising campaign, with ASIC issuing 20 infringement notices in total.