Fleet funding - Page 4

The Bank of England has left UK interest rates unchanged, warning that cutting too fast or too much could negatively impact inflation.

More than a third (40%) of UK employees said they will choose an electric car for the their next vehicle, according to the 2024 Tusker EV Driver Survey.

Salary sacrifice provider Fleet Evolution is urging the Government to stick with the 2035 phase-out date for the sale of new petrol and diesel vehicles.

Appointment follows Alfonso Martinez's decision to retire ahead of company's rebrand to Ayvens later this year.

Pre-tax profits for vehicle leasing company Lex Autolease have plummeted by more than £400m, according to newly-filed accounts.

The latest fleet industry news, including a new car and commercial vehicle leasing broker, RightLease, has launched this week.

The transition to EVs and a multitude of other ever-changing factors make it important to regularly review how vehicles are procured.

However, just one-in-three employers currently offer access to an electric vehicle through a salary sacrifice scheme, new research suggests.

Fleets face higher monthly rentals for electric vehicles as leasing companies try to recover from a collapse in residual values.

The funding, secured through a continued partnership with Shawbrook, marks a major milestone for the business.

Sogo has launched new software to ensure companies have access to the lowest-emission vehicle which is the most suitable for their drivers.

Changing factors mean it is important to weigh up the pros and cons of each method regularly to ensure you choose the right path for both your employer and its employees.

The business new car finance and commercial vehicle finance sectors reported falls in new business in June of 11% and 12% respectively.

The Bank had held rates at a 16-year high of 5.25% since August 2023, as it attempted to tackle rising prices across the UK.

Ayvens is reporting another strong quarter in its latest set of financial results and further progress on the integration of LeasePlan.

The cash will be exclusively used to finance or re-finance electric vehicles by the bank’s asset finance arm, Lombard.

Funded fleet continues to grow, driven by corporate schemes, but profitability impacted by weakness in used car prices, especially electric vehicles.

Business contract hire is up year-on-year, while personal contract hire demand has fallen, according to the latest Leasing Outlook report from the BVRLA.

It will provide vehicle leasing and fleet management for the 1,050 vehicles operated by engineering services and asset management specialist.

One in five companies have no plans to cut their fleet emissions, according to new research from YouGov.

Lombard has launched a new salary sacrifice solution for fully electric and plug-in hybrid electric vehicles.

XPO Logistics has launched a salary sacrifice scheme with Arval, offering fully electric cars or plug-in hybrid electric vehicles to its employees.

Drive Fuze is offering its car subscription service and technology to OEMs, leasing companies, rental companies and dealers, as it looks to expand the business.

Road to Zero report shows how certain market-wide challenges are impacting the transition to zero emission vehicles.

The fleet sector is continuing to drive the new car market with registrations up by more than a fifth year-on-year.

Ayvens has signed a Memorandum of Understanding with BYD to support the Chinese carmaker’s European expansion.

Leasys will launch a car salary sacrifice scheme in the UK by the beginning of next year as it targets a slice of the growing employee benefit market.

The parent company of Chinese car brands Omoda and Jaecoo has signed a financial services agreement with BNP Paribas Personal Finance UK and Arval UK.

Royal Mail has chosen Novuna Vehicle Solutions to provide an EV salary sacrifice scheme to more than 120,000 employees.

Tusker has made changes to its senior leadership team, with Steve Barker stepping down from his role as chief commercial officer.

Norton Motorcycles is offering employees access to an electric car via salary sacrifice after signing a deal with DriveElectric.

Novuna Vehicle Solutions and MHC Mobility grew their combined fleet by 8% contributing to Group profits of £126m.

Salary sacrifice is boosting the recruitment and retention of staff at the Discovery Trust, thanks to the introduction of a Tusker car benefits scheme.

The Unity Schools Partnership has appointed Fleet Alliance to offer salary sacrifice electric cars to qualifying members of staff.

The latest fleet deals, including Campbells Prime Meat seals deal with Fraikin for 70 new temperature-controlled vans.

A year after Stellantis announced the creation of a new multi-brand leasing company, Leasys has posted strong financial results.

UK fleets have higher growth expectations than the European average and rank in the the top five from 30 countries surveyed, new research suggests.

Marshall Leasing has moved to new offices in Huntingdon following significant growth.

Ford is offering the E-Transit electric van to fleet and business customers on a monthly subscription basis through its new Ford Drive venture.

Palatine has sold specialist fleet solutions provider NRG Riverside to Astatine Investment Partners.