Fleet funding - Page 8

The move follows the banking giant's acquisition of Tusker in February for £300 million.

Stirling Ackroyd has changed the way it is financing its 120-strong company car fleet to avoid early termination charges.

JCT600 Vehicle Leasing Solutions (VLS) has secured a major salary sacrifice deal with Relx, a global information and analytics company.

Electric car salary sacrifice provider, Loveelectric.cars, has launched Re-loveelectric, a used electric vehicle (EV) salary sacrifice scheme.

The acquisition of Tusker by Lloyds Banking Group is a 'win-win' for the salary sacrifice specialist’s customers, says the firm’s CEO.

Employees have rated a salary sacrifice scheme that offers electric cars as the most valuable flexible benefit, new research suggests.

UK Carline has announced it has acquired Vertu Lease Cars for an undisclosed sum.

The UK’s leasing fleet has surpassed pre-pandemic volumes thanks to an uplift in demand for EVs, according to the BVRLA.

ScottishPower and Fleet Alliance have unveiled an end-to-end electric vehicle (EV) solution for businesses.

Volvo has signed direct sales agreements with 23 of the FN50’s top 25 leasing companies and is now working on a solution for brokers ahead of a full switch to the direct model inJune.

Automotive components business Unipres has reduced its fleet CO2 emissions by one million kilograms since introducing a salary sacrifice scheme.

Edinburgh-based fleet management company Gofor has been appointed to manage a new electric vehicle (EV) salary sacrifice scheme for Penderyn Distillery.

Salary sacrifice (sal/sac) is increasing in popularity among companies as a way of giving employees a cost-effective way of accessing a low emissions car. But a high uptake is not always guaranteed. We look at how to make a scheme work for both businesses and staff.

As part of the agreement, Octopus EV will also become BYD’s recommended salary sacrifice partner for their business customers in the UK.

JCT600 Vehicle Leasing Solutions (VLS) is reporting 300% growth in salary sacrifice schemes over the past 12 months.

Zenith has reported long lead times faced by fleets for new vehicles are beginning to shorten, but deliveries remain below expectations.

Gofor Finance is dropping ‘finance’ from its name to better reflect the end-to-end fleet management service that Gofor provides.

The Chancellor is being urged to introduce new tax relief for small and medium-sized enterprises (SMEs) renting and leasing vehicles, ahead of the Budget.

Lloyds Banking Group has acquired vehicle leasing company Tusker for £300 million.

The salary sacrifice car scheme has been offered an additional company benefit, not as a replacement for the Suez company car scheme.

Saul Furse, managing director of Vehicle Solutions at Radius, lends his thoughts on whether fleets should buy, lease or hire their vehicles.

Northgate Vehicle Hire has re-packaged and re-launched its light commercial vehicle (LCV) fleet disposal service, We Buy You Rent.

ALD is currently finalising its integration plan for LeasePlan and will begin rolling it out as soon as the acquisition closes.

A significant minority of drivers believe short-term car leases are more beneficial, because of the financial flexibility offered, research from Sogo suggests.

Arval expanded its global leased fleet by 8.3%, including acquisitions, to more than 1.5 million vehicles, last year.

Bradford Council has launched a Clean Air Heavy Duty Vehicle (HDV) Grant Programme to support HGV and Coach operators to upgrade their vehicles to meet the city’s Clean Air Zone (CAZ) standards.

Vehicle leasing company Carparison have opened a new business hub in the Southwest.

Tuffnells will invest £4 million to upgrade its fleet this year, as part of a wider business improvement plan.

Schemes need to be inclusive and introduced as part of a wider sustainable transport solution to deliver real environmental benefits, says Knowles Fleet.

Onto has secured £100 million of funding to continue expanding its UK fleet with new electric cars.

Fleet Alliance has seen the proportion of ultra-low emission vehicles (ULEVs) on its managed fleet grow to record levels in the past 12 months.

EVs were the most popular cars ordered by Tusker’s drivers in 2022, but the overriding feature of its salary sacrifice order bank was affordability.

Healthcare firm Sanofi has adopted a policy of encouraging its drivers out of company cars and into Arval’s Ignition salary sacrifice arrangement.

The number of SME fleet customers grew by 92.4% at Sogo in the past 12 months, due to businesses seeking greater flexibility, it says.

GBA Logistics has acquired a new fleet of 10 Scania compressed natural gas (CNG) trucks, thanks to a seven-figure HSBC UK funding package.

Bonnet has partnered with MFG EV Power, while Moove partners with Paua to launch an end-to-end charging experience and EV charging network app solution.

EV charging firm EO Charging has launched a new multi-source financing platform - MOBILITe - to help car, van, truck and bus fleets electrify operations.

Renault Group’s Mobilize Financial Services has launched Lease&Co, a new leasing subsidiary that will specialise in flexible, use-based contracts.

Fleet Evolution has struck a deal to provide electric cars to customers of ICR Leasing through its salary sacrifice car scheme framework.

Pricing is a major concern for leasing companies, with both acquisition costs and borrowing rates rising between order and delivery, according to the BVRLA.