FCA and PSA Group merger set to achieve £144 billion of revenue

PSA Group and Fiat Chrysler Automobiles (FCA) have revealed that their plans for a merger have been approved by shareholders by an overwhelming majority – with more than 99% of the votes cast in favor of the transaction. The resulting business, named Stellantis, is set to be the world's fourth largest car maker, with combined revenues of £144 billion. By combining the efforts of two OEMs, Stellantis aims to sell more than 8.7 million vehicles each year and benefit from cost savings of £3.2 billion. There are currently no plans to close any plants.

FCA and PSA Group merger set to achieve £144 billion of revenue

Jan 15, 2021

PSA Group and Fiat Chrysler Automobiles (FCA) have revealed that their plans for a merger have been approved by shareholders by an overwhelming majority – with more than 99% of the votes cast in favor of the transaction. The resulting business, named Stellantis, is set to be the world's fourth largest car maker, with combined revenues of £144 billion. By combining the efforts of two OEMs, Stellantis aims to sell more than 8.7 million vehicles each year and benefit from cost savings of £3.2 billion. There are currently no plans to close any plants.

Quotevine rebrands to QV Systems in latest stage of evolution

Software-as-a-Service (SaaS) provider, Quotevine, has revealed a new brand for the company under the name QV Systems in an effort to signify the evolution of the company. The company announced that the name change symbolizes the strengthening of its position as a provider of cloud-based software solutions for the automotive, asset and consumer finance sectors.

Quotevine rebrands to QV Systems in latest stage of evolution

Jan 14, 2021

Software-as-a-Service (SaaS) provider, Quotevine, has revealed a new brand for the company under the name QV Systems in an effort to signify the evolution of the company. The company announced that the name change symbolizes the strengthening of its position as a provider of cloud-based software solutions for the automotive, asset and consumer finance sectors.

Cambridge & Counties Bank positions itself to support SMEs’ switch to EVs

Cambridge & Counties Bank unveil EV lending scheme as 94% of SMEs consider the switch to green transport a top priority UK businesses that use vehicles have a responsibility to switch to electric vehicles (EVs) as soon as possible, according to 94% of SME business owners who took part in a recent study by Cambridge & Counties Bank (CCB). Some 46% of respondents added that this should be a top priority.

Cambridge & Counties Bank positions itself to support SMEs’ switch to EVs

Jan 14, 2021

Cambridge & Counties Bank unveil EV lending scheme as 94% of SMEs consider the switch to green transport a top priority UK businesses that use vehicles have a responsibility to switch to electric vehicles (EVs) as soon as possible, according to 94% of SME business owners who took part in a recent study by Cambridge & Counties Bank (CCB). Some 46% of respondents added that this should be a top priority.

 

How circular economy principles will drive asset finance growth

Asset finance companies have been urged to focus on the fundamentals of business when assessing how the circular economy can drive future growth. The circular economy is based around sustainability by promoting repair, refurbishment, and recycling above the ‘take, make, waste’ approach that has driven economic growth for decades. Carmen Ene, CEO of specialist IT provider 3StepIT, told delegates at the International Asset Finance Network conference that a focus on the economic principles of the circular economy was important to drive growth.

How circular economy principles will drive asset finance growth

Jan 05, 2021

Asset finance companies have been urged to focus on the fundamentals of business when assessing how the circular economy can drive future growth. The circular economy is based around sustainability by promoting repair, refurbishment, and recycling above the ‘take, make, waste’ approach that has driven economic growth for decades. Carmen Ene, CEO of specialist IT provider 3StepIT, told delegates at the International Asset Finance Network conference that a focus on the economic principles of the circular economy was important to drive growth.

 
 
 

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Asset Finance Europe 50 2020 reveals strength of market as industry endures its toughest year

Europe’s biggest asset finance providers entered 2020 in a position of strength that helped them prepare for the toughest year in the industry’s history. In the fourth annual Asset Finance Europe 50, asset finance leaders have heaped praise on their employees for their pivotal role in supporting industry growth and adapting to change as the Coronavirus crisis struck at the start of the year. The unique European annual ranking survey, sponsored by Alfa, reveals that total business equipment and vehicle lease receivables of the 50 largest companies were €314 billion as the industry entered a pivotal year.

Asset Finance Europe 50 2020 reveals strength of market as industry endures its toughest year

Nov 30, 2020

Europe’s biggest asset finance providers entered 2020 in a position of strength that helped them prepare for the toughest year in the industry’s history. In the fourth annual Asset Finance Europe 50, asset finance leaders have heaped praise on their employees for their pivotal role in supporting industry growth and adapting to change as the Coronavirus crisis struck at the start of the year. The unique European annual ranking survey, sponsored by Alfa, reveals that total business equipment and vehicle lease receivables of the 50 largest companies were €314 billion as the industry entered a pivotal year.

 

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Asset finance down 10% in November as 7,000 lenders forecast a 25% fall in net income

Total asset finance new business hit £2.4 billion in November 2020, down 10% compared with the same month in 2019, according to figures released by the Finance & Leasing Association (FLA). The commercial vehicle finance and car finance sectors faired the best in November, with the former achieving £705 million of new business and the latter hitting £699 million. This represents a 1% and 5% fall respectively when compared to the previous year’s figures. In comparison, IT equipment finance new business hit £154 million in the month, equaling a 32% decline from November 2019.

Asset finance down 10% in November as 7,000 lenders forecast a 25% fall in net income

Jan 13, 2021

Total asset finance new business hit £2.4 billion in November 2020, down 10% compared with the same month in 2019, according to figures released by the Finance & Leasing Association (FLA). The commercial vehicle finance and car finance sectors faired the best in November, with the former achieving £705 million of new business and the latter hitting £699 million. This represents a 1% and 5% fall respectively when compared to the previous year’s figures. In comparison, IT equipment finance new business hit £154 million in the month, equaling a 32% decline from November 2019.

Britain faces “darkest hour” as PwC to examine bounce back loan fraud

The Bank of England has warned that the recent resurgence of the pandemic could tip the economy back into recession. Ben Broadbent (pictured above), deputy governor for monetary policy at the Bank of England, explained: “The UK is in the grip of a double-dip recession. GDP is likely to have ended 2020 at around 10% lower than at the end of 2019, marking the sharpest decline, through any calendar year, at least since 1920.

Britain faces “darkest hour” as PwC to examine bounce back loan fraud

Jan 13, 2021

The Bank of England has warned that the recent resurgence of the pandemic could tip the economy back into recession. Ben Broadbent (pictured above), deputy governor for monetary policy at the Bank of England, explained: “The UK is in the grip of a double-dip recession. GDP is likely to have ended 2020 at around 10% lower than at the end of 2019, marking the sharpest decline, through any calendar year, at least since 1920.

Delivering growth through digital partnerships in a post-pandemic world

The asset finance industry has seen fundamental change during the past year of the Coronavirus crisis, with an accelerated focus on digitalisation and growing use of cloud-based services. Now, as the international roll-out of vaccines suggests the worst could soon be over for the global economy, digital partnerships are set to drive business growth in asset finance while delivering improved service levels to customers. A new whitepaper from NETSOL Technologies reveals how technologies such as artificial intelligence and machine learning are enabling more efficient processes, with the workforce reorganised around added-value responsibilities, including providing personalised support for the ‘digitally excluded’ or those with specific needs.

Delivering growth through digital partnerships in a post-pandemic world

Jan 12, 2021

The asset finance industry has seen fundamental change during the past year of the Coronavirus crisis, with an accelerated focus on digitalisation and growing use of cloud-based services. Now, as the international roll-out of vaccines suggests the worst could soon be over for the global economy, digital partnerships are set to drive business growth in asset finance while delivering improved service levels to customers. A new whitepaper from NETSOL Technologies reveals how technologies such as artificial intelligence and machine learning are enabling more efficient processes, with the workforce reorganised around added-value responsibilities, including providing personalised support for the ‘digitally excluded’ or those with specific needs.

 

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An auto-finance man to the core: Peter Landers 1961 – 2021

Asset Finance International, alongside his friends and colleagues in the auto finance industry, was much saddened to learn of the death of Peter Landers, director of strategic partnerships at MotoNovo Finance. Following the challenge of ill health going back to 2018, Peter faced a new battle with Covid-19 during December 2020 and finally succumbed in the early hours of New Year’s Day. Peter was an auto-finance man to the core, and learnt his trade up through the ranks of the industry starting with United Dominions Trust (UDT) where he worked from 1982 to 1989.

An auto-finance man to the core: Peter Landers 1961 – 2021

Jan 11, 2021

Asset Finance International, alongside his friends and colleagues in the auto finance industry, was much saddened to learn of the death of Peter Landers, director of strategic partnerships at MotoNovo Finance. Following the challenge of ill health going back to 2018, Peter faced a new battle with Covid-19 during December 2020 and finally succumbed in the early hours of New Year’s Day. Peter was an auto-finance man to the core, and learnt his trade up through the ranks of the industry starting with United Dominions Trust (UDT) where he worked from 1982 to 1989.

Lex Autolease reveals connected fleet tech partnership as Microsoft and Ericsson enter the connectivity arena

Lex Autolease is set to introduce a range of connected vehicle technology solutions and services to its UK fleet of cars and LCVs following the announcement of a partnership with Masternaut. Incorporating Masternaut’s range of fleet management solutions, the key focus of the collaboration will be to provide Lex’s customers with a leasing offer including connected fleet management services. The connected fleet technology is also set to support Lex in managing its assets. For example, it is able to provide maintenance data collected directly from vehicles, and also from a smart vehicle check application that enables drivers to report the condition of their vehicles and track defects.

Lex Autolease reveals connected fleet tech partnership as Microsoft and Ericsson enter the connectivity arena

Jan 11, 2021

Lex Autolease is set to introduce a range of connected vehicle technology solutions and services to its UK fleet of cars and LCVs following the announcement of a partnership with Masternaut. Incorporating Masternaut’s range of fleet management solutions, the key focus of the collaboration will be to provide Lex’s customers with a leasing offer including connected fleet management services. The connected fleet technology is also set to support Lex in managing its assets. For example, it is able to provide maintenance data collected directly from vehicles, and also from a smart vehicle check application that enables drivers to report the condition of their vehicles and track defects.

Ian Robertson & Paul Johnson-Ferguson argue that now more than ever the systems environment is a strategic component of any asset finance business

COVID-19 has resulted in a need to accelerate the transformation of many asset finance company systems environments. Systems providers have been extremely active innovating and bringing new functionality and new solutions to market in recent years and months. New demands continue to arise, and new solution opportunities are emerging continuously providing even more aspects for businesses to assess and evaluate.

Ian Robertson & Paul Johnson-Ferguson argue that now more than ever the systems environment is a strategic component of any asset finance business

Jan 11, 2021

COVID-19 has resulted in a need to accelerate the transformation of many asset finance company systems environments. Systems providers have been extremely active innovating and bringing new functionality and new solutions to market in recent years and months. New demands continue to arise, and new solution opportunities are emerging continuously providing even more aspects for businesses to assess and evaluate.

 

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Volkswagen Financial Services set to “bring EVs to the masses” after surge in penetration

Volkswagen Financial Services (VWFS) is set to launch an electric vehicle (EV) finance package designed to keep car retailers as an integral part of the retail auto market. According to the captive, the new approach will protect the car by offering customers a minimum of a 2-year lease from new, and then reselling as an approved vehicle, all while being maintained and serviced by the retailer’s aftersales team. By doing this, car retailers will be able to keep in touch with customers when they come in for servicing, which is hoped to establish lasting relationships and inspire brand loyalty.

Volkswagen Financial Services set to “bring EVs to the masses” after surge in penetration

Jan 08, 2021

Volkswagen Financial Services (VWFS) is set to launch an electric vehicle (EV) finance package designed to keep car retailers as an integral part of the retail auto market. According to the captive, the new approach will protect the car by offering customers a minimum of a 2-year lease from new, and then reselling as an approved vehicle, all while being maintained and serviced by the retailer’s aftersales team. By doing this, car retailers will be able to keep in touch with customers when they come in for servicing, which is hoped to establish lasting relationships and inspire brand loyalty.

Alphabet launches new PCH platform to exploit surging demand for personal leasing

In an attempt to streamline the financing process for its corporate customers, business mobility service provider, Alphabet, has unveiled a new platform, Alphabet Motion. Encompassing personal contract hire (PCH) – marking the first time Alphabet has provided this product – and credit sale agreement (CSA), the platform offers a range of offers and multiple makes and models, with tailored quotes based on personal needs.

Alphabet launches new PCH platform to exploit surging demand for personal leasing

Jan 07, 2021

In an attempt to streamline the financing process for its corporate customers, business mobility service provider, Alphabet, has unveiled a new platform, Alphabet Motion. Encompassing personal contract hire (PCH) – marking the first time Alphabet has provided this product – and credit sale agreement (CSA), the platform offers a range of offers and multiple makes and models, with tailored quotes based on personal needs.

A Rollercoaster Year: The biggest events and trends in a year of turmoil

As the asset finance industry enters the new year and resumes trading following the holiday period, Asset Finance International looks back on some of the most significant trends of the previous year. The UK auto finance market achieved strong performance at the end of 2019, resulting in the value of new business reaching £38 billion, according to figures from the Finance & Leasing Association (FLA). Armed with a healthy and innovative marketplace, the auto and asset finance sectors were keen to forecast what the new year would bring. For example, Wagonex anticipated subscription models would be the largest trend in the retail auto market in 2020. Others postulated that digitalization would be a key focus, considering that customers were more likely to buy online than ever before.

A Rollercoaster Year: The biggest events and trends in a year of turmoil

Jan 07, 2021

As the asset finance industry enters the new year and resumes trading following the holiday period, Asset Finance International looks back on some of the most significant trends of the previous year. The UK auto finance market achieved strong performance at the end of 2019, resulting in the value of new business reaching £38 billion, according to figures from the Finance & Leasing Association (FLA). Armed with a healthy and innovative marketplace, the auto and asset finance sectors were keen to forecast what the new year would bring. For example, Wagonex anticipated subscription models would be the largest trend in the retail auto market in 2020. Others postulated that digitalization would be a key focus, considering that customers were more likely to buy online than ever before.

Personal Data post-Brexit: Kate Brimsted explains how the UK is allowed “third country” status for up to six months

The UK and the EU concluded the Trade and Cooperation Agreement on 24 December 2020. The Agreement provides a framework under which trade will take place following expiry of the transition period on 31 December 2020. “Personal data” is mentioned a mere 158 times in the 1265 pages of the document but there are some significant impacts in this area, as in so many others.

Personal Data post-Brexit: Kate Brimsted explains how the UK is allowed “third country” status for up to six months

Jan 06, 2021

The UK and the EU concluded the Trade and Cooperation Agreement on 24 December 2020. The Agreement provides a framework under which trade will take place following expiry of the transition period on 31 December 2020. “Personal data” is mentioned a mere 158 times in the 1265 pages of the document but there are some significant impacts in this area, as in so many others.

UK Financial Services face anxious wait for trading to commence following Brexit deal uncertainty

The key UK financial services sector faces an anxious wait to learn on what basis it can keep dealing with Europe. This is after being largely omitted from the trade deal along with services in general, which account for 80% of Britain’s economy. While market players hope that years of preparations since Britain voted to leave the European Union means the transition of most euro-denominated assets like shares and derivatives out of the country will be relatively smooth - the long-term impact remains unclear.

UK Financial Services face anxious wait for trading to commence following Brexit deal uncertainty

Jan 05, 2021

The key UK financial services sector faces an anxious wait to learn on what basis it can keep dealing with Europe. This is after being largely omitted from the trade deal along with services in general, which account for 80% of Britain’s economy. While market players hope that years of preparations since Britain voted to leave the European Union means the transition of most euro-denominated assets like shares and derivatives out of the country will be relatively smooth - the long-term impact remains unclear.

Auto makers in UK and Germany express optimism for post-Brexit – although remarketing concerns emerge

The UK Society of Motor Manufacturers and Traders (SMMT) is intent on looking at the broader picture as the Brexit agreement terms become clearer. Mike Hawes, SMMT’s chief executive said: “Securing a deal with the EU that works for automotive has been the industry’s top priority for the last four and a half years. “It is, therefore, of great relief that this could now be in place with the potential to unlock continued preferential access to key markets around the world. With the Trade and Co-operation agreement (TCA) in place, the industry will continue to work closely with government to identify essential areas for investment and support to ensure UK Automotive retains its global competitiveness, helping transition the country into post-Brexit, post-Covid prosperity, while delivering on ambitious environmental goals.”

Auto makers in UK and Germany express optimism for post-Brexit – although remarketing concerns emerge

Jan 04, 2021

The UK Society of Motor Manufacturers and Traders (SMMT) is intent on looking at the broader picture as the Brexit agreement terms become clearer. Mike Hawes, SMMT’s chief executive said: “Securing a deal with the EU that works for automotive has been the industry’s top priority for the last four and a half years. “It is, therefore, of great relief that this could now be in place with the potential to unlock continued preferential access to key markets around the world. With the Trade and Co-operation agreement (TCA) in place, the industry will continue to work closely with government to identify essential areas for investment and support to ensure UK Automotive retains its global competitiveness, helping transition the country into post-Brexit, post-Covid prosperity, while delivering on ambitious environmental goals.”

 

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Alfa reveals strong performance in H2 2020

In its latest announcement, UK-based provider of asset finance software solutions, Alfa, has revea...

IAFN Online celebrates a year of supporting the asset finance industry

After an unprecedented year of economy-crippling global pandemics, Australian wildfires and tense ...

 

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