Strong demand for “flexible prime” PCP

A personal contract purchase product launched by Startline Motor Finance to bridge the gap between prime and sub-prime finance is seeing a 50% penetration at some UK franchise dealerships. The “flexible prime” product sits alongside traditional lending offers from prime lenders and is suggested as an alternative source of funding when applications are initially declined. The product offers interest rates and general terms that are similar to prime lenders, rather than resembling a sub-prime product.

Strong demand for “flexible prime” PCP

May 23, 2018

A personal contract purchase product launched by Startline Motor Finance to bridge the gap between prime and sub-prime finance is seeing a 50% penetration at some UK franchise dealerships. The “flexible prime” product sits alongside traditional lending offers from prime lenders and is suggested as an alternative source of funding when applications are initially declined. The product offers interest rates and general terms that are similar to prime lenders, rather than resembling a sub-prime product.

Opportunities for auto finance as China widens market access

China’s president Xi Jinping has announced a substantial widening of its market access programme that will create growth opportunities for foreign companies, including the auto finance sector. In response to the announcement, the People's Bank of China said it was “losing no time” in translating the measures into reality.

Opportunities for auto finance as China widens market access

May 23, 2018

China’s president Xi Jinping has announced a substantial widening of its market access programme that will create growth opportunities for foreign companies, including the auto finance sector. In response to the announcement, the People's Bank of China said it was “losing no time” in translating the measures into reality.

Volvo launches online test drive bookings through Amazon Prime

Volvo is partnering with Amazon in the UK to offer online test drive booking, with cars delivered directly to customers at home or work. The ground-breaking initiative is available for a limited time for Volvo’s V40 and will be open to Amazon customers in four UK cities – London, Birmingham, Manchester and Edinburgh – on select weekends in June and July. The service will be branded Amazon Prime Now Test Drive, after the Amazon Prime Now same-day delivery service that the online retail giant offers to customers.

Volvo launches online test drive bookings through Amazon Prime

May 23, 2018

Volvo is partnering with Amazon in the UK to offer online test drive booking, with cars delivered directly to customers at home or work. The ground-breaking initiative is available for a limited time for Volvo’s V40 and will be open to Amazon customers in four UK cities – London, Birmingham, Manchester and Edinburgh – on select weekends in June and July. The service will be branded Amazon Prime Now Test Drive, after the Amazon Prime Now same-day delivery service that the online retail giant offers to customers.

EMEA

Are car companies failing electric vehicle buyers?

May 09, 2018

Car buyers are ready for electric vehicles, but they are frustrated by fundamental failures from factory to forecourt, new research claims. UK-based global automotive analyst Sophus3 warns that potential electric car buyers seeking alternatives to petrol and diesel are increasingly confused and frustrated over their online experience. The warning comes amid a major shake-up in consumer preferences for vehicle fuels in Europe, as buyers shift away from diesel and consider alternatives, including electrically-powered cars.

Americas

Uber teams up with Wheels

May 24, 2018

Fleet leasing and management company Wheels has announced a partnership with Uber for Business, in a move designed to enable fleets to gain visibility into their ride-hailing activity. Many businesses and fleets use ride-hailing services to help control costs and drive productivity, but these savings are hard to recover if trip details and expenses are not centrally located.

Asia Pacific

Asian growth powers Volkswagen Financial Services expansion

May 09, 2018

Increasing demand in Asia, particularly China and Japan, has been a key factor in global growth at Volkswagen Financial Services, the company has revealed. Overall, the company reported 613,000 new contracts for vehicle finance in the first quarter of 2018, a rise of 15.4% compared to the same period last year, along with 439,000 new leasing contracts, a rise of 4.3%, 415,000 new service contracts (10.4% growth) and more than 527,000 new insurance contracts, an increase of 4.8%. The services business includes maintenance and inspection contracts or tyre contracts.