Nathan Mollett tackles 100km charity run for South East Cancer Help Centre

Nathan Mollett, director of both the Leasing Foundation and Metro Bank Asset Finance, will attempt to complete a gruelling 100km run in a single day next week to raise money for the South East Cancer Help Centre (SECHC). He chose the charity as a mark of respect for two colleagues at Metro Bank who sadly lost their lives to cancer.

Nathan Mollett tackles 100km charity run for South East Cancer Help Centre

Jun 05, 2020

Nathan Mollett, director of both the Leasing Foundation and Metro Bank Asset Finance, will attempt to complete a gruelling 100km run in a single day next week to raise money for the South East Cancer Help Centre (SECHC). He chose the charity as a mark of respect for two colleagues at Metro Bank who sadly lost their lives to cancer.

Rallying the industry: open dealers bring growth in new car registrations in UK and Europe

New car registration figures released by the Society of Motor Manufacturers and Traders (SMMT) for May in the UK have shown an 89% fall from the same period in 2019. This is only slightly less negative than April’s record 97% collapse compared to the year before. As ‘click and collect’ services were permitted by the government around the middle of May, some movement was observed, with 20,247 cars registered. Albeit with 163,477 fewer registrations than May 2019, the performance hit the lowest May figures since 1952, which saw 14,466 registrations.

Rallying the industry: open dealers bring growth in new car registrations in UK and Europe

Jun 05, 2020

New car registration figures released by the Society of Motor Manufacturers and Traders (SMMT) for May in the UK have shown an 89% fall from the same period in 2019. This is only slightly less negative than April’s record 97% collapse compared to the year before. As ‘click and collect’ services were permitted by the government around the middle of May, some movement was observed, with 20,247 cars registered. Albeit with 163,477 fewer registrations than May 2019, the performance hit the lowest May figures since 1952, which saw 14,466 registrations.

BMW and Hyundai join fast-growing subscription startup partnership

BMW has become the latest OEM to partner with the relatively new subscription startup ViveLaCar, following the lead of Hyundai last month. The Stuttgart-based auto subscription platform officially launched mid-last year and wasted little time in gaining the approval of Hyundai on May 5, which has helped carry the product to Austria in the company’s first national expansion. Martin Rada, managing director of ViveLaCar Austria, said: “Today's customers expect simple digital processes and personal service, and ViveLaCar combines both. We bring subscribers and dealers together. For many customers, it is important to have a personal contact person, who can be found in the Hyundai dealership”

BMW and Hyundai join fast-growing subscription startup partnership

Jun 04, 2020

BMW has become the latest OEM to partner with the relatively new subscription startup ViveLaCar, following the lead of Hyundai last month. The Stuttgart-based auto subscription platform officially launched mid-last year and wasted little time in gaining the approval of Hyundai on May 5, which has helped carry the product to Austria in the company’s first national expansion. Martin Rada, managing director of ViveLaCar Austria, said: “Today's customers expect simple digital processes and personal service, and ViveLaCar combines both. We bring subscribers and dealers together. For many customers, it is important to have a personal contact person, who can be found in the Hyundai dealership”

 

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Creating Mobility-as-a-Service Models

Leasing companies are focusing on their core strengths as they adapt to meet the new mobility needs of consumers. In carving a new role in the Mobility as a Service landscape, leasing companies can excel as specialist providers of vehicles to other mobility services, including global technology platforms such as Uber, in addition to their traditional role of providing vehicles direct to end-user customers. This plays to the strengths of leasing companies as vehicle management experts, particularly when it comes to serving the complex needs of large fleets.

Creating Mobility-as-a-Service Models

Jun 01, 2020

Leasing companies are focusing on their core strengths as they adapt to meet the new mobility needs of consumers. In carving a new role in the Mobility as a Service landscape, leasing companies can excel as specialist providers of vehicles to other mobility services, including global technology platforms such as Uber, in addition to their traditional role of providing vehicles direct to end-user customers. This plays to the strengths of leasing companies as vehicle management experts, particularly when it comes to serving the complex needs of large fleets.

 
 
 

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AF50 UK 2020 reveals country’s biggest asset finance companies

The UK’s finance industry leaders have revealed their vision for the future as the market responds to the Coronavirus pandemic. The exclusive 2020 Asset Finance 50 report provides a unique ‘before and after’ perspective of the market, with detailed analysis of the industry carried out using last year’s financial data, ahead of the pandemic starting, while expert analysis looks at the potential long-term impact of the ongoing crisis. 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 £40.5 billion, a 7.1% increase from the previous year’s report.

AF50 UK 2020 reveals country’s biggest asset finance companies

May 22, 2020

The UK’s finance industry leaders have revealed their vision for the future as the market responds to the Coronavirus pandemic. The exclusive 2020 Asset Finance 50 report provides a unique ‘before and after’ perspective of the market, with detailed analysis of the industry carried out using last year’s financial data, ahead of the pandemic starting, while expert analysis looks at the potential long-term impact of the ongoing crisis. 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 £40.5 billion, a 7.1% increase from the previous year’s report.

 
 

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European clean car market set for €20 billion boost from Commission

Piecing together a €20 billion purchase incentive scheme for cleaner cars over the next two years, the European Commission has released this news as part of a paper listing the initial proposals for a €100 billion economic and climate protection package for the transport industry. According to the document, such premiums are hoped to help “reduce CO2 and pollutants in accordance with European standards.” Although the details of the financing remain somewhat blurred, it is thought that the funds would come from two existing EU programs rather than from the reconstruction packages currently being discussed.

European clean car market set for €20 billion boost from Commission

Jun 02, 2020

Piecing together a €20 billion purchase incentive scheme for cleaner cars over the next two years, the European Commission has released this news as part of a paper listing the initial proposals for a €100 billion economic and climate protection package for the transport industry. According to the document, such premiums are hoped to help “reduce CO2 and pollutants in accordance with European standards.” Although the details of the financing remain somewhat blurred, it is thought that the funds would come from two existing EU programs rather than from the reconstruction packages currently being discussed.

KPMG strengthens mobility practice amid plans for a green future post-COVID

As the new car registration figures for May this year have been released by the Society of Motor Manufacturers (SMMT), showing a drop of 99.7% year-on-year, Andrew Burn, partner and head of automotive at professional services firm, KPMG, explained: “Given the current circumstances, that car sales in the UK have plummeted further is unfortunately no surprise. “Looking forward, the challenge for suppliers will be contending with low volumes and fluctuating schedules. There is an expectation that many manufacturers will adopt a demand-led model, although this will continue to be impacted by uncertainty around volume – it is extremely unlikely that we’ll return to pre-COVID-19 levels for the significant future.”

KPMG strengthens mobility practice amid plans for a green future post-COVID

Jun 02, 2020

As the new car registration figures for May this year have been released by the Society of Motor Manufacturers (SMMT), showing a drop of 99.7% year-on-year, Andrew Burn, partner and head of automotive at professional services firm, KPMG, explained: “Given the current circumstances, that car sales in the UK have plummeted further is unfortunately no surprise. “Looking forward, the challenge for suppliers will be contending with low volumes and fluctuating schedules. There is an expectation that many manufacturers will adopt a demand-led model, although this will continue to be impacted by uncertainty around volume – it is extremely unlikely that we’ll return to pre-COVID-19 levels for the significant future.”

Nine asset finance companies revealed as sector leaders in AF50 UK 2020

The annual Asset Finance 50 UK has revealed nine companies that are leading their sectors for growth or size in the £40 billion asset finance market. The AF50 list of industry leaders is based on data from the exclusive 2020 Asset Finance UK 50 report.

Nine asset finance companies revealed as sector leaders in AF50 UK 2020

Jun 01, 2020

The annual Asset Finance 50 UK has revealed nine companies that are leading their sectors for growth or size in the £40 billion asset finance market. The AF50 list of industry leaders is based on data from the exclusive 2020 Asset Finance UK 50 report.

    

Impact of FCA guidance on UK auto financing may cause PCP residual value challenges

Before the pandemic, vehicle finance lending in the UK had risen year-on-year from £24 billion in 2012 to £48 billion in 2019. This was mirrored by a steep rise in the number of PCP loans taken out, representing 75.2% of all new car finance loans in 2019. Under PCP agreements, the borrower pays a fraction of the vehicle’s purchase price as a deposit and then a series of monthly instalments during the life of the agreement. Throughout the contract, the finance company retains ownership of the vehicle, and at the end of the contract the borrower can either take ownership of the vehicle by making a final balloon payment for the residual value, or return the vehicle to the lender.

Impact of FCA guidance on UK auto financing may cause PCP residual value challenges

Jun 01, 2020

Before the pandemic, vehicle finance lending in the UK had risen year-on-year from £24 billion in 2012 to £48 billion in 2019. This was mirrored by a steep rise in the number of PCP loans taken out, representing 75.2% of all new car finance loans in 2019. Under PCP agreements, the borrower pays a fraction of the vehicle’s purchase price as a deposit and then a series of monthly instalments during the life of the agreement. Throughout the contract, the finance company retains ownership of the vehicle, and at the end of the contract the borrower can either take ownership of the vehicle by making a final balloon payment for the residual value, or return the vehicle to the lender.

Simply CEO Mike Randall appointed chairman of The Leasing Foundation as new partnerships and initiatives announced

Mike Randall, chief executive officer of Simply, has been named as the new chair of The Leasing Foundation. His one-year tenure comes as the foundation reveals plans for a future series of events once restrictions caused by the Coronavirus lockdown are lifted. Randall (pictured) replaces Andy Denton, chief executive officer of Alfa, who remains on the board of the foundation.

Simply CEO Mike Randall appointed chairman of The Leasing Foundation as new partnerships and initiatives announced

Jun 01, 2020

Mike Randall, chief executive officer of Simply, has been named as the new chair of The Leasing Foundation. His one-year tenure comes as the foundation reveals plans for a future series of events once restrictions caused by the Coronavirus lockdown are lifted. Randall (pictured) replaces Andy Denton, chief executive officer of Alfa, who remains on the board of the foundation.

Martin Muessener highlights the emerging priorities for the European auto finance industry in latest IAFN Online conference

At the latest IAFN Online conference earlier this week, delegates were updated on a series of key topics such as market and customer changes, digitalisation, mobility and servitisation, and the transition to alternative-fuelled vehicles by industry veteran Martin Muessener, vice president sales & marketing, Europe and Africa Region at Toyota Financial Services. The conference, entitled ‘The COVID-19 legacy: Emerging priorities for the European auto finance industry’, was attended by a record number of delegates who actively engaged with a series of polls throughout the event, giving crucial insight into the minds of senior auto finance executives at a time of great uncertainty.

Martin Muessener highlights the emerging priorities for the European auto finance industry in latest IAFN Online conference

Jun 01, 2020

At the latest IAFN Online conference earlier this week, delegates were updated on a series of key topics such as market and customer changes, digitalisation, mobility and servitisation, and the transition to alternative-fuelled vehicles by industry veteran Martin Muessener, vice president sales & marketing, Europe and Africa Region at Toyota Financial Services. The conference, entitled ‘The COVID-19 legacy: Emerging priorities for the European auto finance industry’, was attended by a record number of delegates who actively engaged with a series of polls throughout the event, giving crucial insight into the minds of senior auto finance executives at a time of great uncertainty.

 

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COVID-related financial crime nears two million global cases, but AI could help

As the pandemic first spread across the globe, it left behind a trail of financial trauma, enticing financial and cyber criminals to crawl out of the woodwork to capitalize on the damage. According to financial insight provider Refinitiv, the number of global cases of financial crime have risen to 1,880,591 as of the end of April 2020, with the daily increase rate appearing to peak in mid-April, nearing 100,000 new cases a day. However, this seems to have lowered to 71,042 new cases a day at the end of April.

COVID-related financial crime nears two million global cases, but AI could help

May 29, 2020

As the pandemic first spread across the globe, it left behind a trail of financial trauma, enticing financial and cyber criminals to crawl out of the woodwork to capitalize on the damage. According to financial insight provider Refinitiv, the number of global cases of financial crime have risen to 1,880,591 as of the end of April 2020, with the daily increase rate appearing to peak in mid-April, nearing 100,000 new cases a day. However, this seems to have lowered to 71,042 new cases a day at the end of April.

Rallying the industry: Return of the dealerships approved to boost economy and fuel the bounce back

In his daily briefing on 25 May, UK Prime Minister Boris Johnson announced that motor dealerships in England would be able to reopen on 1 June, provided they met the guidelines to protect shoppers and workers, under the new stage of the government’s recovery plan. Ordered to close doors to the public back in March to slow the spread of the virus, dealerships have been eagerly awaiting the return to operations properly - until now being limited to ‘click-&-collect’ sales only - to help boost the economy and fuel the bounce back.

Rallying the industry: Return of the dealerships approved to boost economy and fuel the bounce back

May 27, 2020

In his daily briefing on 25 May, UK Prime Minister Boris Johnson announced that motor dealerships in England would be able to reopen on 1 June, provided they met the guidelines to protect shoppers and workers, under the new stage of the government’s recovery plan. Ordered to close doors to the public back in March to slow the spread of the virus, dealerships have been eagerly awaiting the return to operations properly - until now being limited to ‘click-&-collect’ sales only - to help boost the economy and fuel the bounce back.

Delegates of IAFN Online’s inaugural events offer insight into where the industry stands on COVID-19 challenges

In the first IAFN Online conference named ‘COVID-19 impact on Auto and Equipment Finance’, senior executives in the industry were informed of the array of incentives and support that is available in the industry at the current time and how they could be accessed.

Delegates of IAFN Online’s inaugural events offer insight into where the industry stands on COVID-19 challenges

May 27, 2020

In the first IAFN Online conference named ‘COVID-19 impact on Auto and Equipment Finance’, senior executives in the industry were informed of the array of incentives and support that is available in the industry at the current time and how they could be accessed.

AF50 UK 2020 highlights 25 years of gradual change in asset finance

Last week, the fifth annual edition of the Asset Finance 50 (AF50), the ranking survey of the UK asset finance industry that I collate, was published by Asset Finance International (AFI) with the support of Alfa. As usual, in preparing the latest edition we relied entirely on fully audited and publicly available data on net investment in finance leases and minimum operating lease receivables. The report provides details of our methodology including its limitations.

AF50 UK 2020 highlights 25 years of gradual change in asset finance

May 26, 2020

Last week, the fifth annual edition of the Asset Finance 50 (AF50), the ranking survey of the UK asset finance industry that I collate, was published by Asset Finance International (AFI) with the support of Alfa. As usual, in preparing the latest edition we relied entirely on fully audited and publicly available data on net investment in finance leases and minimum operating lease receivables. The report provides details of our methodology including its limitations.

LeasePlan forms specialist task force to manage plummeting used car revenues

Auto leasing and fleet management firm LeasePlan has revealed it is forming a dedicated team with the sole purpose of preparing for operations after the pandemic, and ensuring the company would be able to continue capitalizing on the ownership-to-usership trend that has dominated the structural growth of the auto finance industry for the past 50 years. Tex Gunning, chief executive officer at LeasePlan, said: “This trend will be accelerated by our ongoing Digital LeasePlan transformation, which is enabling us to build a fully digital operating model, delivering digital services at digital cost levels.”

LeasePlan forms specialist task force to manage plummeting used car revenues

May 22, 2020

Auto leasing and fleet management firm LeasePlan has revealed it is forming a dedicated team with the sole purpose of preparing for operations after the pandemic, and ensuring the company would be able to continue capitalizing on the ownership-to-usership trend that has dominated the structural growth of the auto finance industry for the past 50 years. Tex Gunning, chief executive officer at LeasePlan, said: “This trend will be accelerated by our ongoing Digital LeasePlan transformation, which is enabling us to build a fully digital operating model, delivering digital services at digital cost levels.”

New whitepaper details €1.8 billion loss for dealers alongside residual value forecast

In its latest announcement, automotive insight provider Autovista Group has estimated that economic losses for auto dealers alone during the lockdowns has amounted to €1.8 billion in Europe so far. This could, in part, be down to the ageing stock sitting out on dealer forecourts, and the daily costs of stock holding at a time when a very limited number of transactions have taken place. As the news regarding the pandemic continues to pour in, the Group has released a whitepaper on the impact on used-car markets across Europe which lays out a variety of potential scenarios in the near future and provides an outlook to help readers track the impact of the pandemic across major European markets.

New whitepaper details €1.8 billion loss for dealers alongside residual value forecast

May 22, 2020

In its latest announcement, automotive insight provider Autovista Group has estimated that economic losses for auto dealers alone during the lockdowns has amounted to €1.8 billion in Europe so far. This could, in part, be down to the ageing stock sitting out on dealer forecourts, and the daily costs of stock holding at a time when a very limited number of transactions have taken place. As the news regarding the pandemic continues to pour in, the Group has released a whitepaper on the impact on used-car markets across Europe which lays out a variety of potential scenarios in the near future and provides an outlook to help readers track the impact of the pandemic across major European markets.

 

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Major global downturn in traditionally powered vehicles may prove an opportunity for EVs

The British Vehicle Rental and Leasing Association (BVRLA) has announced a surge in battery electr...

European Commission unveils €80 billion bounce back plans for auto industry

Looking to the future, the European Commission has put all hands to work on forming a recovery pla...

Volvo’s paradox: Financial services surges by 8% in Q1 – while operations slump by 46%

Due to the global attempt to halt the spread of the virus, and the measures implemented in many co...

Raft of senior appointments for asset finance software firm White Clarke Group

In its latest announcement, automotive and asset finance software provider White Clarke Group (WCG...

 

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