All articles by Antonio Fabrizio
Antonio Fabrizio
Company car contract extension saves ?1.5bn across EU
European companies saved almost 1.5bn in 2009 through company car contract extensions, a recent GE Capital study has found. The leasing and fleet management company said that a 12 month extension from 36 to 48 months saved companies an average of 12.5 percent per month on the leasing cost. On average, contracts increased from 36.7 months in 2007 to 40.5 months in 2009 across the seven markets studied (France, Germany, UK, Netherlands, Spain, Italy and Belgium), the lessor said.
Key appointments at BVRLA
The British Vehicle Rental and Leasing Association (BVRLA) has appointed Neil Cunningham as its new vice-chairman. He has over 25 years experience in the vehicle rental industry, and was responsible for Hertzs entry into the car sharing market in 2008.
UBI Leasing signs ?5m renewable energy deal
Italian lessor UBI Leasing has won a 5 million contract for the financing of a photovoltaic plant in Vasapulli, Puglia, in Southern Italy. The Brescia-headquartered leasing company, part of the UBI Banca Group, has been selected by 9REN, a European developer and contractor of solar plants Corporance SpA, an Italian merchant bank specialised in renewable energy projects, has advised 9REN on the deal.
Italy’s leasing, factoring and consumer credit down 11.4%
Italys leasing, factoring and consumer credit new production was 11.4 percent down in 2009 compared with the previous year, according to figures recently published by the countrys associations for the respective sectors (Assilea, Assifact and Assofin). The associations reported a new production of 217 billion in 2009 – with an improvement in the second half of the year following a 15 percent decline in H1 2009.
Siemens FS scoops large public sector deals
Siemens Financial Services (SFS) has recently won two large public sector contracts in the UK The first deal is worth £2.6 million (3.1 million) with Scotlands West Lothian Council The UK arm of the German leasing company will provide leasing facilities to finance the acquisition of vehicles and grounds maintenance equipment.
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Electric vehicle battery lease ‘the way forward’, says Glass’s
Manufacturers should tackle electric vehicle (EV) battery ownership issues to protect residual values from dramatic falls and develop battery lease strategies, according to vehicle valuation specialist Glasss.
GE-owned Broadway expand Stoke on Trent centre
Broadway Motor Company has expanded the capacity of its Stoke on Trent used van and truck centre following a growing demand from buyers. Broadway Motor Companys national sales leader Ian Griffiths said: We are finding ready custom for all kinds of trucks and vans, and the site is among the fastest for stock turnaround in our branch network, which is always a good indicator of how well a used vehicle outlet is operating.
Brussels watch: Lessors set to benefit from new EU tools to help SMEs
Two of the EU Commissions top officials have pledged to introduce new tools to improve access to finance for small and medium-sized enterprises across Europe and as a result asset finance could get a boost, too. At last months SME Finance Forum in Brussels, Antonio Tajani, EU commissioner for industry and entrepreneurship, and Michel Barnier, commissioner for internal market and services, said they intended to facilitate SMEs access to finance to support recovery across Europe.
Trailer blazing
Cargobull Finance, De Lage Landens largest vendor finance programme, has found life during the recession tough, but still managed to grow penetration With a current portfolio of 700m, Cargobull Finance (CBF) continues to be one of De Lage Landens longest-standing vendor partnerships.