EV SPECIALIST broker Octopus Electric Vehicles has appointed Fleet Assist to provide in-life SMR services for its fleet of electric vehicles. Octopus said it took the decision based on Fleet Assist’s widespread network of 4000 EV specialist garages. Natalia Peralta Silverstone, head of propositions at Octopus Electric Vehicles, said: “We appointed Fleet Assist based on its track record of managing a large…
A NEW level of consumer protection is being proposed by the FCA for regulated leasing brokers. Although brokers are already guided by FCA rules around treating customers fairly, the FCA says the new Consumer Duty will provide further defence against poor customer outcomes. The FCA says it wants Consumer Duty to “drive a shift in culture and behaviour for firms, meaning that…
THE Plug-in Car Grant, given a value shave and price cap on 18 March 2021, will gradually be remaindered. Current funding is planned to last until 2022-23. The information was relayed to a meeting organised by the National Franchised Dealers Association (13 May, 2021), when representatives from the Office for Zero Emission Vehicles – OZEV, previously known as OLEV – provided clarification…
Begbies buys MAF Leasing, brings new perspective on leasing broker sector INTERESTING move by Begbies Traynor, mainly known for its turnaround business, to purchase MAF Leasing as part of an £11.75m deal for the former Midland Asset Finance business. It shows that leasing brokers are beginning to register interest beyond the leasing silo. Congratulations to Sue and Dave Chapman on the sale.…
Genesis enters UK market WE’VE been here before with upmarket brands from mainstream OEMs and they don’t always turn out well. Let’s hope this is a success. Announced today is the latest entrant to the market: Genesis, the luxury brand from Hyundai. It will launch with two models this summer, including this GV80 SUV pictured below, before adding electric variants and attacking the corporate sector. Good…
Will stock shortages hinder market? THE broker market looks in rude health, resilient beyond belief and ready to do business in even greater numbers. But will the semiconductor shortage hit availability? Will stock shortages frustrate sector growth? Read our special report on the broker market. All the best for the rest of the business week. Ralph Morton, editor Key stories this week:…
BVRLA broker fleet grows in 2020 CONGRATULATIONS all you leasing brokers. Despite a difficult and testing 2020, all hurdles were overcome to increase the broker channel fleet to 379,617 vehicles, up 6% on 2019. Within seven years, that’s a threefold growth. Astonishing. The BVRLA’s report dropped just as we were going to press, so we’ll have some deeper analysis next week. But put…
Consolidation coming says Cox Automotive WE have been seeing the gradual consolidation of the dealer market – it happens with regularity. Dealer groups get bigger; the number of outlets decline. According to Grant Thornton’s Owen Edwards, writing in the new Cox Automotive magazine autofocus, over five years dealer outlets have reduced by 6.5%. It’s a trend that Edwards sees happening in the leasing…