Extending the life of electronics by a year equivalent to taking millions of cars off the road

Extending the lifespan of smartphones and other electronics by just one year would slash annual carbon emissions in Europe by the equivalent of taking 2 million cars off the road, a new study reveals. Experts have assessed the climate benefits of making Europe’s smartphones, notebooks, washing machines and vacuum cleaners more durable in support of the circular economy. The study found that extending the lifetime of the EU’s stock of these products by five years would save almost 10 million tonnes of emissions annually by 2030, equivalent to taking 5 million cars off the roads for a year. A one-year extension would result in 4 million tonnes of emissions savings annually.

Extending the life of electronics by a year equivalent to taking millions of cars off the road

Sep 20, 2019

Solar energy powers potential profits for asset finance companies

Solar power and battery storage systems are becoming more attractive investment opportunities for asset finance companies, according to new research. In the past, uncertain returns made it hard for solar and battery operators to raise debt finance. To remain viable they relied on government subsidies, which have been phased out for solar. However, a new independent study by Aurora Energy Research says that when solar power and battery storage are co-located on the same site, it can unlock additional revenue streams and accelerate deployment.

Solar energy powers potential profits for asset finance companies

Sep 20, 2019

Faraday Institution provides £55 million funding to support electrification research

The Faraday Institution is providing £55 million to a number of UK-based projects to boost the performance of batteries used in transport and other sectors. The projects aim to accelerate breakthroughs in energy storage technologies as the UK moves to mass adoption of electric vehicles. The Faraday Institution is the UK’s independent institute for electrochemical energy storage science and technology. It supports research, training, and analysis, working to make the UK the ‘go-to place’ for electrical storage technology research.

Faraday Institution provides £55 million funding to support electrification research

Sep 20, 2019

Building the ‘value hill’ in asset finance

Asset finance companies are facing new types of risk as they adapt their business models to servitization. Customers are keen to adopt ‘pay-on-use’ services, but funders and suppliers will need to ensure that the deal remains profitable by maximising the utilisation of assets during their first use and also through developing business models focused on the circular economy to extend their working life and generate value from reuse, refurbishment and recycling.

Building the ‘value hill’ in asset finance

Sep 17, 2019

AF50 2019 reveals UK’s biggest asset finance companies

The current leaders of the UK’s dynamic asset finance market have been revealed in the exclusive 2019 Asset Finance 50. The annual AF50 is the UK’s most influential survey of business and equipment lessors, which tracks the health of the market and identifies the key trends that are set to have an impact on the sector. This year’s report, sponsored by Alfa, reveals that the total net investment in leasing for the top 50 firms is £38 billion, up 6.2% from £35.9 billion in last year’s report. The top 10 firms represent 60.6% of the AF50, up from 59.3% last year, with the largest company, Lombard, accounting for 15% of the market. In addition to profiling the largest companies in the UK asset finance arena, the report includes in-depth analysis of the industry.

AF50 2019 reveals UK’s biggest asset finance companies

May 22, 2019

Car & Away appoints Graeme Banister as mobility and partnerships director

Mobility industry expert Graeme Banister has joined Car & Away, the peer-to-peer car-sharing company, as the business prepares for rapid growth. Car & Away gives car owners a way to make money from their vehicle by offering it for hire when they are not using it. The business was founded in 2016 by travel industry expert Andy Hibbert, the former chief executive of corporate travel specialists Reed & Mackay, who has also held senior roles at companies including easyJet and STA Travel.

Car & Away appoints Graeme Banister as mobility and partnerships director

Sep 20, 2019

Winners of low-carbon vehicle technology competition secure £2.5 million funding

The winners of the UK Niche Vehicle Network (NVN) competition have been announced, each securing a share of the £2.5 million investment. Supported by a range of institutions including Innovate UK, the Office for Low Emission Vehicles, and the Advanced Propulsion Centre, competitors bid for research funding for their innovative solutions to electrification, autonomy, lightweight materials, and advanced aerodynamics.

Winners of low-carbon vehicle technology competition secure £2.5 million funding

Sep 19, 2019

US car buyers switching from new to used vehicles and extending finance terms to minimise costs

Purchasers are shunning new vehicle purchases in favour of older models, with used vehicles selling in record numbers as a result, according to new research from Experian. Its Q2 2019 State of the Automotive Finance Market report says consumers are exploring all available options to make costs more manageable, including extending loan terms, and deciding between new or used vehicles. One of the more notable ways consumers have managed to make their monthly payments more affordable is to opt for used vehicles. In fact, prime and super-prime consumers financed used vehicles at record levels - these borrowers comprised more than 57% of used vehicle financing during the second quarter.

US car buyers switching from new to used vehicles and extending finance terms to minimise costs

Sep 19, 2019

Three-quarters of US public companies yet to complete preparations for new lease accounting standards

Just a quarter of executives in US public companies report that their implementation of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board’s new lease accounting standards is complete, according to a poll from professional services firm Deloitte. The firm surveyed more 1,230 public and private company C-suite and other executives on their experiences of the leasing standards within their organisation in an online poll conducted in June.

Three-quarters of US public companies yet to complete preparations for new lease accounting standards

Sep 19, 2019

Porsche expands car subscription services after revealing 80% of customers are new to the brand

Luxury carmaker Porsche is expanding its ‘Porsche Passport’ vehicle subscription model and ‘Porsche Drive’ premium car rental service, in response to positive reaction to a pilot of the shared service model. Following its launch in Atlanta, the services will be offered in Las Vegas, Phoenix, San Diego and Toronto. The pilot project in Atlanta, which has been run by Porsche Cars North America (PCNA) since the end of 2017, will be taken over by the two dealers in Atlanta going forward.

Porsche expands car subscription services after revealing 80% of customers are new to the brand

Sep 19, 2019

LeasePlan reveals wide range of EV running costs across Europe

Electric vehicles (EVs) are closing the running costs gap with petrol and diesel models but remain more expensive to operate compared to petrol or diesel in nearly every country in Europe, LeasePlan research has revealed. The Car Cost Index takes into account all costs that motorists incur such as fuel, depreciation, taxes, insurance, and maintenance in each of the 18 countries studied, and offers a comprehensive analysis of the cost of driving a small to medium-sized vehicle, based on corporate lease contracts over three years and 60,000kms. Its annual Car Cost Index found the cheapest place to run an EV is Greece, with a total monthly ownership cost of €656, compared to €410 for a diesel and €445 for diesel.

LeasePlan reveals wide range of EV running costs across Europe

Sep 19, 2019

DND Finance provides $1 million to entertainment finance company

DND Finance has provided $1 million to Canadian funding solution provider Benjamin Verde (BV). BV is an artist and entertainment funding solutions provider, which provides ‘creatives’ with access to finance, including if they have failed to obtain support from traditional lenders, banks or other institutions.

DND Finance provides $1 million to entertainment finance company

Sep 18, 2019

Leasing Legends – Arnaldo Rodriguez, CSI Leasing - Part 1: Building a global brand

Global commercial equipment finance expert Bob Rinaldi has launched a series of video interviews – called Leasing Legends – engaging with some of the key influencers in the finance industry. In the first of a series of discussions with Arnaldo Rodriguez, president of CSI Leasing, he discusses the complex route to building a global brand.

Leasing Legends – Arnaldo Rodriguez, CSI Leasing - Part 1: Building a global brand

Sep 17, 2019

Santander to wind down UK asset finance arm

Santander is to wind down its asset finance arm in the UK as part of a strategic review of its operations. It will stop writing any new asset finance business by the end of the year and the existing portfolio will reduce as customers complete payment schedules. Santander said its asset finance business made up less than 5% of its corporate bank portfolio. The bank said that where possible it will continue to support its core clients with different forms of lending and other services.

Santander to wind down UK asset finance arm

Sep 17, 2019

Invigors EMEA bolsters team with the addition of new senior associate

Invigors EMEA, the consulting and services partnership, has announced the appointment of Tor Bowen as an associate based in the UK. He will be responsible for providing additional trouble-shooting and restructuring expertise for European and global clients.

Invigors EMEA bolsters team with the addition of new senior associate

Sep 17, 2019

Eric-Mark Huitema takes charge of ACEA as new director general

A new director general will lead the European Automobile Manufacturers’ Association (ACEA) from next month. Taking the helm will be Eric-Mark Huitema (pictured), a Dutch industry specialist who previously acted as global smarter transportation leader at IBM. Prior to this, he was active within the IT sector, co-founding internet start-up Chello Benelux. He also has a degree in technical chemistry at Delft University, and business and sales administration at INSEAD. Huitema will take charge following Erik Jonnaert’s departure after six years as secretary general.

Eric-Mark Huitema takes charge of ACEA as new director general

Sep 17, 2019

Why a connected world raises the stakes when systems fail

A recent article in Automotive News highlighted one of the downsides of the everything-connected world of omni-channel retailing; when something goes wrong in one place, its impacts are felt throughout the network and across a range of partners. Over the weekend of 17th August, extremely hot weather in Denver, Colorado, caused a power outage, which in turn knocked out a data centre hosting Nissan’s communications network and systems for the whole of the USA, Canada, and Mexico.