Fleet funding - Page 18

Rental companies are talking up rolling rental deals as a way for fleets to avoid new lease accounting rules that require vehicles to be reported on balance sheets.

Arval has announced a range of new offers for fleet decision-makers and their employees after reporting record-breaking growth in its global risk fleet.

LeasePlan reports a 9.7% rise in profits and says it wants to lead the trend from car ownership to usership to subscription in both new and used car markets.

IFS has been awarded a four-year contract by NHS Scotland for the provision of contract car hire services to all NHS Health Boards across Scotland.

Venson Automotive Solutions has recently signed a fourth extension with Unison, taking the partnership through to November 2018.

Hexagon Leasing has launched HexFlex flexible rental solution in response to changing customer demand across the UK.

Vehicle tracking device provider RAM Tracking is to offer customers funding and fleet management services following the creation of RAM Fleet Club.

S&G Response announced expansion plans following a reported record year of growth in 2017.

Ingimex has announced that it will expand its capabilities with a £1.8million investment at its Telford site.

An official investigation into the UK car finance market looks set to create the “perfect storm” for the British motor industry in 2018, Total Motion claims.

Tusker has seen an increase in its fleet size in 2017, while also significantly reducing their emissions levels.

ACFO chairman John Pryor has welcomed new BVRLA guidelines to clarify rules on excess mileage charge complaints but has urged leasing companies to go further.

Informi has partnered with Arval to provide information to SME owners on how to manage company cars and vans.

Cap HPI has launched a suite of online apps, Portfolio Valuations, which it claims will help to increase accuracy within the leasing sector.

Halfords Group has renewed its fleet of 50 trucks with Volvo for an undisclosed sum.

Fleet operators discussed the various funding methods available for vehicle procurement, including contract hire, rental and outright purchase.

Fleet Alliance was one of three shortlisted leasing companies for the award, which included Concept Vehicle Leasing and Synergy Automotive.

Volvo Contract Hire has moved its Volvo Car Financial Services branded business and personal contract hire products to Santander Consumer Finance.

By Paul Hollick chairman of the ICFM

Pendragon Vehicle Management has rebranded its new car benefit scheme as Pendragon Let's Drive, replacing the SimplyDriveIt brand.

Tusker CEO David Hosking is celebrating winning two prestigious awards in one week following his work to clarify changes to car salary sacrifice schemes.

Business customers will now have access to Škoda’s virtual showroom to view new models in 360 degree high-res detail before they purchase.

Fleet operators are paying less in excess mileage charges on their leased company cars in 2017, although the amount charged for vans has risen.

The total number of charges incurred by vehicles on contract hire in 2017 has reached a record level, with the amount paid reaching almost £20 million.

Average van CO2 emissions across the FN50 have dropped to a new low of 162.9g/km after falling slightly faster than they did this time last year.

Just one quarter of FN50 customers are on sole supply contracts with their leasing provider, lagging well behind cars, where 37% are happy to sign up to solus contracts.

Broker partnerships are playing an important role in driving volumes in the SME and personal leasing space for major FN50 companies.

Leasing companies’ success in winning business in the retail sector, such as company staff who have opted to take cash and buy outside the car scheme, has resulted in a dilution of their contract hire business and the rise of ‘other’ funding methods, primarily personal contract hire (PCH).

Brexit, sterling trends and impact of WLTP are just a few of the issues on executives’ minds in the FN50 contract hire companies.

The vast majority of the FN50 saw pre-tax profits fall year-on-year, according to the latest available figures. A deterioration in residual values was blamed by some, while increasing staff costs were held responsible by others.

For the first time, the five biggest leasing companies account for more than one million vehicles. They now fund 61% of the cars and vans in the FN50.

Pendragon Vehicle Management (PVM) has been chosen by Aarsleff Ground Engineering for the supply and management of its vehicle fleet.

World famous department store Harrods has launched a Tusker car salary sacrifice scheme for its employees.

Lloyd Motor Group has been named Lex Autolease supplier of the year in recognition of its exceptional service levels over the past 12 months.

Martin Ward, manufacturer relationships manager for Cap HPI, talks SMMT Test Day North, an off-road Suzuki test and a Spanish 'lads' weekend.

Tusker has launched a new driver-focussed website, delivering a host of new features and improved usability.

Leasing and fleet management company Ogilvie Fleet is celebrating 10 years of providing a service to companies from its base in Sheffield.

Volkswagen Financial Services Fleet has joined with Škoda to launch SME Direct for businesses running fewer than 20 cars on their fleet.

CMS Window Systems has completed a sale and rentback deal which has seen its fleet of vehicles purchased and replaced with more modern, fuel efficient vehicles.

Cape estimates it has cut its van costs by around 30% after switching approximately 75% of its 400-strong LCV fleet from daily rental to contract hire with ALD.