Fleet funding - Page 17

The the European new car market recorded the highest monthly decline of the past decade in September, as 1.12 million vehicles were registered – 343,000 less than in September 2017.

Miguel Cabaça warns leasing companies not to lose sight of the traditional corporate customer despite the growing appeal of offering personal contract hire.

The Committee on Climate Change is calling on the Government to bring forward the 2% tax rate for pure electric company cars.

Changes to the rules affecting salary sacrifice car schemes and rises in BIK taxes for company car drivers make the resurgence of ECO schemes more likely.

Enterprise Rent-A-Car will operate Enterprise car club vehicles at its new branch in Fratton, Portsmouth.

Europcar Mobility Group UK managing director Gary Smith says it’s ready for the challenge of changing daily rental market and the growing demand for multi-modal services.

Fleets have just a few weeks left before they will find out how the Government intends to mitigate the impact of WLTP on future company car tax rates.

Damage Reclaim, a no win, no fee start-up, is targeting fleets that are in dispute with their leasing companies over end-of-contract vehicle charges

Fleets are finding it hard to convince drivers of the benefits of taking a company car due to delays in orders and legislative uncertainty. And that the perk car is most ‘at risk’ said managers at the September 2018 Fleet200 Executive Club meeting.

Early termination fees scrapped after six months for new contract hire product after it said customers were demanding more flexibility because of Brexit.

I’ve had some worrying conversations with a few fleet managers who have accused leasing companies of taking advantage of the WLTP confusion

By Chris Crow head of network and technical services at Fleet Assist

The new e-commerce portal aims to target the growing personal leasing market, where company car drivers are considering making the switch.

Arnold Clark Vehicle Management (ACVM) has launched a new employee car plan, Affinity Cars, aimed at employees who do not have access to a company car.

Alphabet has announced that it has expanded into the Turkish market thanks to Hedef Filo partnership.

Tusker, who have worked with NOE CPC for the past eight years, now have more than 16,000 cars ordered on the framework through its Car Benefit Scheme.

Go Plant Fleet Services has announced growth plans following £13.5m funding from Secure Trust Bank Commercial Finance.

Pickups experienced the largest rise in the month up 21.4%, while demand for large vans saw a 14.6% increase to take over two-thirds (67.2%) of all van registrations.

There were 52,656 cars registered to fleet and business, with 41,438 private registrations, equating to a 56% market share, says SMMT.

Fleets and motorists have been warned about a spate of fraudulent activity, where scammers are advertising bogus vehicle leasing deals on social media.

Four in five (80%) Wheels4Sure customers used to buy their cars outright before switching to personal contract hire, its survey has found.

Insurance, maintenance, tyres and breakdown cover could now be taxed when provided via a so-called Optional Remuneration Arrangements (OpRA).

Pendragon Vehicle Management has launched a personal contract hire scheme aimed at employees who receive a cash allowance or use a salary sacrifice scheme.

In the UK, the average time before a vehicle is replaced is 3.9 years, but across a basket of 12 other European countries, it is 5.7 years.

Fleet businesses report managing costs, growing revenue and retaining customers as the biggest challenges affecting the industry this year.

A new Employee Car Ownership scheme has been launched by The Miles Consultancy, in partnership with BCF Wessex and Hitachi Capital Vehicle Solutions.

The UK true fleet market grew by 1.4% in July, according to the latest figures from Dataforce.

Multifleet Vehicle Management has secured a seven figure funding package from Santander Business Banking to expand its contract hire offering.

The UK new light commercial vehicle (LCV) market declined by 5.9% in July, with 23,309 vans and pick-ups registered, according to new figures from the SMMT.

Diesel registrations fell by 24.4% in July as petrol demand grew by 20.1%, while alternative fuel vehicles enjoyed an uplift of 21%, new SMMT figures show.

Leasing companies predict more drivers will look for personal leasing deals to avoid rising benefit-in-kind tax.

Alphabet now offers products in Serbia via AKS Fleet Solution, bringing the total number of countries in which the fleet management provider conducts business to 22.

BNP Paribas Leasing Solutions UK has appointed Mark Richards as head of equipment and logistics solutions (ELS) sales, key accounts and business development.

Colas Rail has signed a solus outsourcing agreement with Ogilvie Fleet for the supply and management of almost 900 company cars and light commercial vehicles.

Hitachi Capital Vehicle Solutions is embarking on the next phase of its European expansion programme as it looks to acquire businesses across 10 key markets.

There were 940,000 employees paying benefit-in-kind (BIK) tax on a company car in 2016/17 – a 2% fall on the 960,000 recorded the previous financial year.

TruckForce has remained loyal to Mercedes-Benz by adopting 69 new 314 CDI models, which were supplied, like their predecessors, by Dealer Midlands Truck & Van.

Average figure paid per employee increases by 27% year-on-year, says HMRC.

Light commercial vehicle (LCVs) registrations declined in June, according to figures released by the Society of Motor Manufacturers and Traders (SMMT).

Wigan-based Fleetsmart has doubled its office space to cater for “record” product demand.