Iveco and BNP Paribas Leasing Solutions launch green finance scheme

Commercial vehicle giant Iveco and BNP Paribas Leasing Solutions have joined forces to launch a green finance scheme that encourages the introduction of more environmentally-friendly vehicles. Under the scheme, preferential financing conditions will be offered to purchasers of Iveco vehicles that feature its Natural Power technology. This includes models that run on compressed natural gas, liquefied natural gas, bio-methane, electric vehicles or advanced diesels that are compliant with the most stringent Euro 6 RDE 2020 regulations.

Iveco and BNP Paribas Leasing Solutions launch green finance scheme

Feb 09, 2018

Commercial vehicle giant Iveco and BNP Paribas Leasing Solutions have joined forces to launch a green finance scheme that encourages the introduction of more environmentally-friendly vehicles. Under the scheme, preferential financing conditions will be offered to purchasers of Iveco vehicles that feature its Natural Power technology. This includes models that run on compressed natural gas, liquefied natural gas, bio-methane, electric vehicles or advanced diesels that are compliant with the most stringent Euro 6 RDE 2020 regulations.

New car ownership in reverse as leasing overtakes hire purchase

Consumers in the UK are turning their back on hire purchase in increasing numbers as they opt for personal leasing instead, according to new research. Vehicle marketplace ContractHireAndLeasing.com found the value of hire purchase agreements fell 9.8% in the 12 months to November 2017. Its annual personal leasing report found that personal contract hire demand grew 12.7% over the same period, meaning it overtook hire purchase as the second most popular form of new car finance with a market share of 9.2% in 2017.

New car ownership in reverse as leasing overtakes hire purchase

Feb 08, 2018

Consumers in the UK are turning their back on hire purchase in increasing numbers as they opt for personal leasing instead, according to new research. Vehicle marketplace ContractHireAndLeasing.com found the value of hire purchase agreements fell 9.8% in the 12 months to November 2017. Its annual personal leasing report found that personal contract hire demand grew 12.7% over the same period, meaning it overtook hire purchase as the second most popular form of new car finance with a market share of 9.2% in 2017.

Volvo achieves record profits as electric and autonomous future approaches

Global new car sales growth generated record operating profits at Volvo Cars last year. Operating profits increased 27.7% in 2017 to a record SEK14.1 billion ($1.7 billion), driven by global sales of 571,577 cars. Net revenue increased nearly 17% year-on-year to SEK210.9 billion ($26.1 billion), while its operating profit margin improved to 6.7%, compared to 6.1% the previous year. Global sales rose 7% during the year, underpinned by a rise of nearly 26% in China, the manufacturer’s largest market.

Volvo achieves record profits as electric and autonomous future approaches

Feb 08, 2018

Global new car sales growth generated record operating profits at Volvo Cars last year. Operating profits increased 27.7% in 2017 to a record SEK14.1 billion ($1.7 billion), driven by global sales of 571,577 cars. Net revenue increased nearly 17% year-on-year to SEK210.9 billion ($26.1 billion), while its operating profit margin improved to 6.7%, compared to 6.1% the previous year. Global sales rose 7% during the year, underpinned by a rise of nearly 26% in China, the manufacturer’s largest market.

EMEA

Rise of alternative fuel vehicles rewrites the rules of auto finance

Feb 06, 2018

Growing demand for alternatively-fuelled cars, particularly hybrids and electric vehicles, is reshaping the traditional vehicle depreciation curve that has underpinned asset valuations for decades. In the UK, industry experts say the changing vehicle mix will alter assumptions about how vehicles are valued now and into the future, which may require changes to financing models, particularly in sectors such as leasing. Growing demand for the limited supply of used electric vehicles that are currently available is pushing up prices, so that cars are appreciating in value instead of depreciating.

Americas

January new car sales dip

Feb 02, 2018

Edmunds, the car shopping and information platform, forecasts that 1,121,932  new cars  and trucks will be sold in the US in January, a 1.4% drop compared to the same month last year. Jessica Caldwell, executive director of industry analysis at Edmunds, said: “In January, automakers are expected to pull the reins in on the more generous incentive programs that we saw at the end of 2017.

Asia Pacific

Volkswagen Financial Services Australia pays penalty for misleading finance ads

Nov 30, 2017

Volkswagen Financial Services Australia (VWFSA) has paid a penalty of AUD$216,000 (US$163,000) after the Australian Securities and Investments Commission (ASIC) issued infringement notices for alleged misleading advertising statements. The penalty related to VWSA’s ‘1% you can’t ignore’ advertising campaign, with ASIC issuing 20 infringement notices in total.