APD Global launches new compliance solution for brokers, leasing companies, lenders and dealers

APD Global Research has launched a new compliance solution for leasing companies, brokers, dealers and lenders. Compliance 360 has been developed to monitor customer feedback in line with the UK’s Financial Conduct Authority guidelines to ensure suppliers actively process responses in areas of non-compliance, such as commissions, transparency and affordability. APD monitors feedback from customers in real-time using its customer service platform and provides evidence of satisfactory customer outcomes, which can be shared with the FCA when required.

APD Global launches new compliance solution for brokers, leasing companies, lenders and dealers

Jan 21, 2020

APD Global Research has launched a new compliance solution for leasing companies, brokers, dealers and lenders. Compliance 360 has been developed to monitor customer feedback in line with the UK’s Financial Conduct Authority guidelines to ensure suppliers actively process responses in areas of non-compliance, such as commissions, transparency and affordability. APD monitors feedback from customers in real-time using its customer service platform and provides evidence of satisfactory customer outcomes, which can be shared with the FCA when required.

Fisker puts flexible finance at heart of its new electric SUV

Eco-friendly vehicle start-up Fisker is aiming to rewrite the rules of finance with the launch of its Ocean electric SUV. Although the zero-emission car can be purchased outright for nearly $38,000 before tax incentives, the manufacturer is also offering a radical new leasing model, with reservations now open through the brand’s smartphone app and website. The Fisker Ocean will be offered in the US for a lease price of $379 per month, with a $2,999 initial payment, which can also be financed, giving drivers zero upfront payment.

Fisker puts flexible finance at heart of its new electric SUV

Jan 20, 2020

Eco-friendly vehicle start-up Fisker is aiming to rewrite the rules of finance with the launch of its Ocean electric SUV. Although the zero-emission car can be purchased outright for nearly $38,000 before tax incentives, the manufacturer is also offering a radical new leasing model, with reservations now open through the brand’s smartphone app and website. The Fisker Ocean will be offered in the US for a lease price of $379 per month, with a $2,999 initial payment, which can also be financed, giving drivers zero upfront payment.

Demand for used vehicle finance increases

Used vehicles are grabbing a larger share of the US automotive finance market, according to data from Experian, which says the trend is driven by a number of factors, including more prime customers choosing used vehicles and the increased availability of late-model vehicles. The consultancy’s Q3 2019 State of the Automotive Finance Market report found used financing increased 2.4% year-over-year, reaching 55.15% in Q3 2019, compared to 53.86% in Q3 2018. Used leasing saw a slight increase from 3.88% in Q3 2018 to 4.07% in Q3 2019.

Demand for used vehicle finance increases

Jan 20, 2020

Used vehicles are grabbing a larger share of the US automotive finance market, according to data from Experian, which says the trend is driven by a number of factors, including more prime customers choosing used vehicles and the increased availability of late-model vehicles. The consultancy’s Q3 2019 State of the Automotive Finance Market report found used financing increased 2.4% year-over-year, reaching 55.15% in Q3 2019, compared to 53.86% in Q3 2018. Used leasing saw a slight increase from 3.88% in Q3 2018 to 4.07% in Q3 2019.

Americas

FleetCor vows to “vigorously defend” itself against FTC plans for legal action

Jan 20, 2020

The US Federal Trade Commission (FTC) has indicated it plans to take legal action against fuel card services giant FleetCor alleging that it has charged customers at least hundreds of millions of dollars in hidden fees after making false promises about helping customers save on fuel costs. Headquartered in Atlanta, Georgia, FleetCor reported $2.4 billion in annual revenues in 2018. It markets its fuel card services in the US under its own ‘Fuelman’ brand name, as well as through co-branded cards, to businesses around the country.

Asia Pacific

Hyundai and Kia invest $300m in India’s largest mobility service provider Ola

Mar 19, 2019

Hyundai Motor Group has announced a $300 million investment into Uber-rival Ola, as the car manufacturer expands into providing mobility solutions and related fleet services. The agreement will see Hyundai, Kia and Ola collaborate on developing fleet and mobility solutions by building India-specific electric vehicles and support services, as well as helping Ola attract new drivers to the platform. As part of the strategic collaboration, the companies will jointly develop services to operate and manage the Ola fleet, as Hyundai Motor Group expands its operations from automobile manufacturing and sales to mobility services and total fleet solutions.