Monday, May 20, 2013
Black Horse to finance Jaguar Land Rover in 2014
Jaguar Land Rover has entered a five-year agreement with Black Horse, the car finance operation of Lloyds Banking Group, to provide UK wholesale and retail funding from February 2014.
The two UK luxury brands, owned by Tata Motors of India, will retain FGA Capital as finance provider until the end of the year, with the intention of keeping the captive formed by Fiat Group Automobiles and Crédit Agricole as its European finance partner.
The move to Black Horse, the UK's largest independent motor finance provider, follows a review and competitive tender process by Jaguar Land Rover's Financial Services team, considering its roster of funders in key international regions, of which the UK is one.
In a company statement, Jaguar Land Rover said it had "confirmed its intention to diversify its portfolio of global financial service partners and provider local specialist wholesale and retail financing arrangements in each of its five global regions" and "intends to continue its successful partnership with existing financial services provider FGA Capital SpA in mainland Europe."
David Betteley, director of Financial Services at Jaguar Land Rover said: "Jaguar Land Rover has ambitious plans for growth which require a robust automotive financial services strategy to support dealers and customers in our 178 markets. As such we have decided to concentrate our successful partnership with FGA Capital in Europe and appoint a specialist UK based automotive financial services partner for the UK."
Triple win for Ford at 2013 Honest John Awards
Ford has scooped three top wins at this year's Honest John Awards, with new Fiesta crowned "Most Popular Small Hatchback" and for the second year running Mondeo and C-MAX named "Most Popular Large Family Car" and "Most Popular MPV" respectively.
BRENTWOOD, Essex, 17 May, 2013 - This year's third Honest John Awards are split into 14 main categories from "City Car" to "Sports Car". The awards are not determined by judges or a panel, but instead are decided by honestjohn.co.uk website users. The cars that fans search for most on the site and are therefore of most interest, are declared the winners.
Dan Harrison, editor of honestjohn.co.uk, said: "Ford has picked up an impressive haul of trophies at this year's awards, across a wide range of models. Fiesta remains one of the most popular cars on the site thanks to its smart looks and keen running costs. It's a similar story for C-MAX, which so cleverly meets the needs of families. The Mondeo may be in line for replacement soon, but it remains a steadfast favourite on Honestjohn.co.uk".
Anthony Ireson, Ford Britain marketing director, said: "We are delighted that the Ford Fiesta, C-MAX and Mondeo are so popular with honestjohn.co.uk website users. The stylish Fiesta has exciting new technology and is now available with the award winning 1.0-litre EcoBoost engine. Mondeo enjoys a new series and powertrain line-up with reduced CO2 emissions, while our versatile and well specified C-MAX Titanium X is proving a hit with retail buyers. It's great to see them grabbing the headlines".
Honestjohn.co.uk was set up in 2000 to help consumers with advice on buying, selling and running cars. Since then "Honest John" himself has answered more than 625,000 questions, with the site receiving around 1.5 million visits per month.
The data to measure customer interest is taken from Google Analytics and calculates the number of page views each review has had over the previous 12 months.
DATED: 20.05.13
FEED: HA
Confidence continues to slide as times get tougher for independent dealers
Confidence among independent used car dealers is continuing to slide, according to the used car valuation experts, CAP Automotive.
One of the problems they face is increasing difficulty in sourcing the right kind of cars, as stock levels remain stubbornly low.
A growing number of independents describe current market conditions as tougher than last month and confidence about their immediate future prospects is also showing signs of weakening.
Each month CAP questions a 'Dealer Insight Panel' of more than 100 independent used car dealers. The results give a unique insight into the dynamics of the 'true' used car retail and trade marketplaces. This information assists CAP in its day to day research and is published on the CAP website at cap.co.uk for the benefit of customers who wish to conduct peer comparisons with their own business performance.
The latest results from the panel show a dip in the number of dealers describing current business conditions as ‘stable' or ‘good', from 74% to 64% over the course of a month.
There has also been a slip in the number of dealers forecasting business to grow, from 87.5% to 81%.
One of the causes of their waning confidence is a combination of issues around the used car stock that is available in the marketplace. The proportion of dealers describing their existing stock levels as ‘too low' is stubbornly remaining on the 70% mark.
But in the latest survey the number reporting difficulty in finding the right kind of cars for their retail customers has grown from 32% to 42.7%.
Mike Hind, of CAP, said: "Used car dealers are still enjoying strong retail sales and many have consistently reported growing success over the past few months, so it is important to keep these results in perspective.
"But what they do show is that independents are finding the market more difficult as the year wears on and that they expect things to get tougher.
"Cheap rate finance offers on new cars from franchise dealers are sucking good quality part-exchanges away from independents, which is contributing to their difficulties in sourcing retail-suitable stock.
"Those new car deals are also tempting a lot of motorists away from used cars altogether. This means independents who specialise in more expensive late plate cars are having to work harder to make their own offers more attractive, without the support of manufacturer subsidies on finance.
"Independents are the true barometer of real market conditions and their views on future conditions are rarely far wrong. In this case, their views tie in closely with CAP's own predictions of a short-term slowdown in the used car market."
DATED: 20.05.13
FEED: HA
Cyclist embarks on national fundraising tour to promote road safety
On Monday 20 May Graham Brain, of Llancarfan in the Vale of Glamorgan, will embark on a national cycle tour from John O'Groats to Land's End, to raise funds for Brake, the road safety charity.
The ride will take Graham a total of 35 days, covering a distance of more than 1,500 miles and including a 4,409ft (1,344m) climb up Ben Nevis.
Graham will be calling at 10 extreme geographical points along the way and cycling for around 50 miles each day. As well as reaching the highest point in the UK at Ben Nevis he'll also travel to the lowest point, Holme Fen, the most northerly point at Dunnet Head and across to the most easterly point at Lowestoft Ness
Graham has spent 24 years working in traffic enforcement and has decided that he would now like to make his own personal contribution to road safety. He hopes that this challenge will not only raise money but also raise awareness about the importance of road safety.
He is also looking for companies or individuals to support his challenge by sponsoring him and helping Brake to continue providing support to bereaved or injured victims of road crashes.
To sponsor Graham, visit www.justgiving.com/GBExtremeTour2013 and for more information on this incredible tour visit his website at www.gbextremetour.co.uk. You can also follow his progress or contact him on twitter, viafacebook or on his blog at gbextremetour.wordpress.com.
Funds raised will be donated to Brake to support the charity's work, which includes providing essential support services for families that are devastated by a death or injury on roads, and campaigning to prevent casualties and make communities safer.
Graham says: "Every day five people die and many more suffer life-changing injuries in crashes on roads across the country and I'm hoping that this challenge will help to raise the profile of road safety and the excellent work carried out by Brake. I know this is going to be tough but this is an important cause and the support of fellow cyclists, sponsors and supporters will help to get me through."
Rich Andrew, senior development officer at Brake, says: ‘Brake is incredibly grateful to Graham for undertaking such a huge challenge to raise awareness about the vital importance of road safety and to fundraise for Brake. His incredible efforts will help us continue spreading life-saving road safety messages and supporting families who have suffered the devastating consequences of road crashes. We would urge anyone inspired by Graham's challenge - whether companies or individuals - to show their support where they can on his route, sponsor him, or do their own fundraising cycle ride for Brake. We can't thank Graham enough for his fantastic commitment to promoting road safety and wish him all the best on his challenge.'
DATED: 20.05.13
FEED: HA
Vauxhall motors on with four-year England sponsorship extension
The FA has agreed a new four-year extension as lead partner for all 24 England squads with vehicle manufacturer Vauxhall Motors.
The current Vauxhall agreement expires in July 2014. The new agreement will run until July 2018 - up to and including the FIFA World Cup Finals in Russia.
Within that period, EURO 2016 will be played in France and the various England men's, women's, youth and disability teams will compete in tournaments and matches throughout the world.
Club England Managing Director Adrian Bevington said: "This is excellent news for England and all of our teams that Vauxhall support through this partnership. The FA, as a not-for-profit organisation, puts over £100 million back into the game at every level, every year. Vauxhall's renewed commitment plays a key role in helping us sustain this level of reinvestment."
Vauxhall Chairman and Managing Director, Duncan Aldred, added: "Our current sponsorship of the England teams has delivered extraordinary new levels of brand awareness and really cemented our commitment to England's national sport. We're delighted to continue our relationship with England and look forward to another four years of productive partnership."
England Manager Roy Hodgson said: "Since I became the England Manager a year ago the partnership with Vauxhall and England has been very strong, and I'm delighted that it will continue into the future.
"They support the team both in public and private, and from personal experience of driving a Vauxhall they literally help me get to the many matches around the country to watch England players in action for their clubs."
The agreement was negotiated by The FA's Head of Sponsorship, Peter Daire, who comments: "This renewal, well over a year before the current agreement expires, shows the England sponsorship is really delivering for Vauxhall and will continue to do so. It also testifies to the excellent relationship we have with Vauxhall and the support we have received from all their staff, which we are extremely grateful for."
"They support the team both in public and private, and from personal experience of driving a Vauxhall they literally help me get to the many matches around the country to watch England players in action for their clubs."
The agreement was negotiated by The FA's Head of Sponsorship, Peter Daire, who comments: "This renewal, well over a year before the current agreement expires, shows the England sponsorship is really delivering for Vauxhall and will continue to do so. It also testifies to the excellent relationship we have with Vauxhall and the support we have received from all their staff, which we are extremely grateful for."
The new sponsorship agreement will see Vauxhall widen its involvement with England in two ways.
Firstly, the Luton-based company will become the official Presenting Partner of England content on FATV - The FA's online broadcast channel. This will see Vauxhall support the development of the channel, and the wider distribution of supporter orientated video content.
Secondly, Vauxhall will align itself with England supporters, helping The FA to improve interaction with the millions of people who follow the national team.
Vauxhall is also the Official Vehicle Supplier to The FA, Wembley Stadium and St. George's Park, the new national football centre in Burton-upon-Trent.
The news of Vauxhall's sponsorship renewal comes just before a busy summer for various England teams. The Under-21 squad, led by Head Coach Stuart Pearce, take part in the UEFA 2013 European Championship Finals in Israel in June, and Peter Taylor will then lead the England Under-20 squad into the FIFA World Cup Finals in Turkey.
In July, Hope Powell leads her England women's senior team into the UEFA European Championship Finals in Sweden in July. And of course, Roy Hodgson's senior men's team will play the Republic of Ireland at Wembley before heading to Rio to face Brazil in a prestigious friendly as part of The FA's ongoing 150thAnniversary celebrations.
DATED: 20.05.13
FEED: HA
FTA everywoman in Transport & Logistics Awards – winners announced
The winners of the FTA everywoman in Transport & Logistics Awards have been announced today at a ceremony held at London's iconic Savoy Hotel.
The ceremony was attended by leading figures from the logistics sector along with representatives from the media, business and government, including a keynote address by Stephen Hammond MP, Parliamentary Under Secretary of State for Transport. This, the UK's leading Awards programme for women in transport and logistics, was an opportunity to celebrate the female role models who have demonstrated remarkable success, whether in senior management positions, as drivers, or young trailblazers in the early stages of a promising career.
The Freight Transport Association (FTA) is the title partner for the Awards and has supported everywoman and its initiatives since 2008, including the everywoman in Transport and Logistics Leadership Academy and the FTA everywoman Accelerate Programme. Now in its sixth year, the Awards celebrate women working within the transport and logistics industry who are enjoying success and who will ultimately inspire others to join the sector.
The Transport & Logistics Awards were created by everywoman who identified that there was a need to raise the profile of women in the transport and logistics industry. The goal of the Awards is to reach out to a younger talent pool, crucial to the economic success of an industry that has a disproportionately ageing workforce.
The winners unveiled today will help to raise the awareness of job seekers that the industry is fast-paced, diverse, challenging and satisfying.
The winners in the FTA everywoman in Transport & Logistics Awards for 2013 are:
Woman of the Year - sponsored by FTA
Jacqui Gavaghan, Performance Director, Reading Transport Limited from Reading
Jacqui Gavaghan, Performance Director, Reading Transport Limited from Reading
Rising Star of the Year Award - sponsored by Motor Transport
Charlotte Laval, Supplier Performance Service Manager, Wincanton plc from Chippenham
Charlotte Laval, Supplier Performance Service Manager, Wincanton plc from Chippenham
Driver of the Year Award - sponsored by TNT
Shauni O'Neill, Train Operator, London Underground Ltd from London
Shauni O'Neill, Train Operator, London Underground Ltd from London
Director of the Year Award - sponsored by Asda Stores Ltd
Lindsay Haselhurst, Development & Marketing Director, Wincanton plc from Chippenham
Lindsay Haselhurst, Development & Marketing Director, Wincanton plc from Chippenham
The Warehousing Award - sponsored by UKWA
Adele Waite, General Manager - Consumer Life Science Division, DHL Supply Chain from Banbury
Adele Waite, General Manager - Consumer Life Science Division, DHL Supply Chain from Banbury
Industry Champion Award - sponsored by DHL Supply Chain
Ruth Waring FCILT, Managing Director, Labyrinth Logistics Consulting Ltd from Leamington Spa, Warwickshire
Ruth Waring FCILT, Managing Director, Labyrinth Logistics Consulting Ltd from Leamington Spa, Warwickshire
Innovation & Sustainability Award - sponsored by DHL Supply Chain
Danielle Kozlowska, Process Improvement Manager, Stanley Black & Decker from Northampton
Danielle Kozlowska, Process Improvement Manager, Stanley Black & Decker from Northampton
Team Leader of the Year Award - sponsored by MAN Truck & Bus
Marion Roberts, Station Manager, Network Rail from London
Marion Roberts, Station Manager, Network Rail from London
In addition, in recognition of her commitment to championing the role of women in the industry, Nikki King OBE, Managing Director of Izuzu Truck (UK) was presented with the inaugural Spirit of everywoman Award.
Theo de Pencier, FTA Chief Executive said:
"FTA is exceptionally proud to be the Title Partner of the 2013 everywoman in Transport and Logistics Awards. Women are an essential part of every aspect of supply chains, from drivers and warehouse staff to transport managers and managing directors. Industry cannot be passive in attracting women, and the FTA everywoman in Transport & Logistics Awards are the perfect opportunity to showcase how women can make a career in transport a successful and fulfilling one, which is why FTA is delighted to support this event. FTA is leading by example through the high proportion of female specialists and managers it employs and women also hold key positions in our management team."
Maxine Benson MBE, co-founder of everywoman, commented:
"The transport and logistics industry in the UK is vast and there are so many opportunities for women with the determination, enthusiasm and passion to succeed. With transport and logistics becoming an ever-evolving, fast moving, technology-driven industry offering long-term, sustainable careers, it is critical that the women playing an influencing role in shaping and leading this sector should be celebrated. Today's winners, boasting a varied skills set, are examples of this - resourceful, pioneering and innovative women who represent the very essence of what makes the industry great. We are proud to be able to celebrate their achievements and are confident their success will inspire women of all ages, experience and skill levels to bring their talents to the industry."
DATED: 20.05.13
FEED: HA
Hyundai produces one millionth car at Czech factory
- New Generation i30 is the one millionth car produced by award-winning plant
- More than 10,000 manufacturing-related jobs created by facility
- Hyundai orders €1.3 billion-worth of parts from European suppliers annually
Offenbach, 16 May 2013
On 16 May 2013, a New Generation i30 became the one millionth car to be produced at Hyundai's award-winning manufacturing facility in Nošovice, Czech Republic. Production started at the plant on 3 November 2008, with an original i30 model being the first car to emerge from the line.
Hyundai has invested €1.2 billion in its Hyundai Motor Manufacturing Czech (HMMC) factory and 15,500 vehicles were made by the end of the following month. A second shift was added in September 2009 to meet rising demand for Hyundai's ‘made for Europe' models and, by 2010, annual production had reached 200,000 units. As consumer demand continued to increase, a third shift was introduced in 2011, and the facility made 300,000 cars during 2012.
HMMC has annual turnover of €3.2 billion and pays combined annual salaries of almost €47 million. Almost 3.500 people are directly employed at the plant, with a further 7,000 employed at supplier companies. The plant contributes significantly to the €1.3 billion of parts ordered from within Europe by Hyundai each year.
Allan Rushforth, Senior Vice President and COO at Hyundai Motor Europe, said: "Since 2008, we have developed our business to become a truly ‘European' brand. Our Czech plant is at the heart of our European success, producing the two best-selling Hyundai models in the region and making one car every minute. It's cars such as New ix35 and New Generation i30 that have helped us achieve a record-high European market share of 3.5% in 2012."
As output has grown at HMMC, it has played an ever-greater role in securing the Czech Republic's position as the world's second-largest producer of cars per capita. It is the only car factory to have been awarded the country's prestigious ‘National Award for Quality', reflecting how closely the plant works with its suppliers to ensure the highest standards of quality. Three principal suppliers are located directly on the factory ground, reducing road traffic by 200 trucks each day, while another 15 principal suppliers are located in the Czech Republic, where 62% of the parts by value are produced for the New Generation i30.
The Nošovice plant produces the Hyundai ix20 MPV, New ix35 compact SUV and New Generation i30. As well as being manufactured in Europe, each model has also been designed and developed for the European market at Hyundai's European Technical Centre in Rüsselsheim, Germany.
Australia recently became the 60th export destination for the Czech-built New Generation i30, joining countries in Eastern Europe, Africa, the Caribbean and Oceania.
The Nošovice plant and the company's plant in Turkey together produce 70% of the Hyundai vehicles sold in Europe.
-Ends-
About Hyundai Motor
Established in 1967, Hyundai Motor Co. has grown into the Hyundai Motor Group, with more than two dozen auto-related subsidiaries and affiliates. Hyundai Motor - which has seven manufacturing bases outside of South Korea including Brazil, China, the Czech Republic, India, Russia, Turkey and the U.S. - sold 4,4 million vehicles globally in 2012. Hyundai Motor, which employs over 80.000 worldwide, offers a full line-up of products including small to large passenger vehicles, SUVs and commercial vehicles.
Further information about Hyundai Motor and its products is available at www.hyundai.com.
DATED: 20.05.13
FEED: HA
Ford transforms customer care with new breakthrough programme
Ford is to transform its aftersales experience for retail customers with the introduction of a range of new services launched under the "Ford BlueService" name.
BRENTWOOD, Essex, 16 May 2013 - With a joint investment of £7.5m by Ford and its dealers, Ford BlueService is being rolled out across Ford's 650-strong service network - the UK's largest.
Ford BlueService includes a free electronic vehicle health check (Ford eCHECK), online service booking, Ford Assistance, Ford Accident Management and a Ford One Call helpline. Ford customers will also have the chance to boost their Nectar point balance with servicing offers rewarding two points for every £1 spent.
In the coming months Ford BlueService is set to expand with new customer benefits covering fixed pricing for parts, jobs and servicing, security and operating system upgrades and other online innovations.
Ford BlueService joins the latest aftersales services recently announced for commercial vehicle customers under the Transit24 name, offering convenient appointments, while-you-wait servicing and extended-opening service appointments.
Jon Wellsman, customer service division director, Ford of Britain, said: "This new package combining servicing, roadside assistance and an annual inspection will benefit customers driving Fords of any age or mileage. On top of that, the ability to call access services through a single contact number ensures unrivalled convenience and peace of mind."
"The Ford UK dealer network accommodates over one million customer visits a year, and it's the company's aim to make sure they receive the very best experience."
Ford eCHECK
A safety inspection and report carried out by Ford-trained technicians using the latest diagnostics equipment allowing customers to see a detailed overview of key components on their vehicle. Colour coded safety ratings - green (no attention required), amber (requiring attention soon) and red (requiring urgent attention) are included to provide the customer a clear assessment of the vehicle's safety and to point out any items requiring urgent attention.
Ford Assistance
Ford customers who have a scheduled service carried out at a Ford authorised repairer automatically receive free UK and European roadside assistance through to the next scheduled routine maintenance, usually 12 months or 12,500 miles. As well as the peace of mind provided, this saves the customer the inconvenience and cost of buying third-party roadside assistance.
Ford Online Service Booking
The new way to book a Ford service and MOT online can be accessed on www.ford.co.uk/OSB. It enables customers to book a service appointment anywhere in the UK and is available 24 hours a day, seven days a week.
Ford "One Call" 24/7 helpline
Ford is offering a single point of contact for customers through the new One Call customer hotline (0203 564 4444), whether their call is regarding a technical issue, roadside assistance or a request for product information and services.
Ford Accident Management
This service is free to all Ford owners through the One Call number. The entire insurance claim process is managed from vehicle recovery through completing the claim form, liaising with the insurance company, arranging vehicle repair at a Ford Accident Repair Centre and providing a courtesy car.
Transit24
The Ford network of Premium CV Authorised Repairers is conveniently located across the UK and has specialised staff, workshop equipment, tools and training to meet customer demand. It offers first-class assistance minimising fleet customer vehicle downtime and provides priority treatment for urgent cases, aiming to complete vehicle off-road repairs on the same working day.
Every Ford Transit carries a comprehensive three year / 100,000 miles manufacturer's warranty and with "Ford Assistance", a premium roadside assistance package which includes ‘load-continuation', so that in the event of a breakdown, the load can be delivered before the vehicle is taken to a repairer. Ford also offers a free Fleet Accident Management service to all business customers.
Future Developments
Over the next months, Ford will be rolling out further Ford BlueService benefits including a national fixed pricing system for common service work on older vehicles to make Ford aftermarket pricing more transparent to customers before and during their dealer visit. Additionally Ford will announce web and software-based service innovations for its car and CV ranges.
DATED: 20.05.13
FEED: HA
Welcome to Transport News Brief
This week's TNB comes to you from Glasgow: the venue for British Car Auctions' Scottish LCV Forum.
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How do you know when a plate transfer is legit?
HPI offers advice on plate changes and how to avoid buying a car with a fake ID.
Lauren Ingram found out just how easy it could be to buy a vehicle with a fake ID, when the plate on the VW Golf she was about to purchase turned out to belong to a BMW. Lauren spoke with HPI, vehicle information expert, who confirmed the plate did indeed belong to a different vehicle, and was able to tell from the VW Golf's original plate that it was an insurance write-off. She said, "I can't believe I nearly spent over £6,000 on a car that shouldn't have been on the road. I was shocked. Luckily the HPI Check uncovered the car's real identity and I walked away from the deal."
HPI offers used car buyers clear advice on the dangers that might be lurking under forged plates, as well as how to spot a legitimate plate change.
"The trend for applying personalised, or cherished, number plates to a vehicle is becoming ever more popular, as people seek ways to make their vehicle stand out from the crowd. 1 in 5 of the vehicles we checked in 2012 had had a cherished plate, so it's common enough, but what if the reasons are less about personalisation, and more about hiding something?" comments Nicola Johnson, Consumer Services Manager for HPI. "Applying a false plate can be a simple fix for drivers who want to avoid fines for speeding, parking charges or tolls such as the London Congestion Charge.
A plate change can also hide the fact it has been involved in an accident and written-off by an insurance company, is currently recorded by the police as being stolen, or is still on finance. You just won't know without doing some digging."
Johnson continues, "HPI doesn't just check a vehicle's current plate, we also check the previous ones to see if we can unearth any evidence of historical problems. A vehicle that turns out to be a previous write-off could be dangerous if it hasn't been safely repaired. A plate change could also be hiding the fact that the vehicle is currently recorded as stolen. Many consumers don't realise that unwittingly buying a vehicle that later turns out to be stolen could see them lose the car and their money, when it's returned to the rightful owner. The HPI Check confirms whether a vehicle is a write-off or is currently recorded as stolen with the police."
"Previous plate histories can get very complicated, which is why HPI conducts a thorough investigation into every vehicle it checks," concludes Johnson. "The HPI Check is designed to do all the research for a customer, flagging up issues such as a plate change, then offering customers the advice they need to take precautionary steps, so they can buy safe in the knowledge they are not throwing their money away."
The HPI Check also includes a mileage check as standard, using its National Mileage Register (NMR) database, which holds more than 160 million mileage records, protecting buyers from the risk of buying a clocked vehicle. In addition, the HPI Check offers a Guarantee of up to £40,000** in the event of the information it provides being inaccurate or incomplete, offering added financial peace of mind to used car buyers."
DATED: 20.05.13
FEED: HA
Business as usual despite new lease accounting rules
Leasing and rental will retain their status as essential forms of vehicle finance despite the introduction of new lease accounting proposals announced by the International Accounting Standards Board today.
The British Vehicle Rental and Leasing Association is confident that its members will be able to adapt their business models and help their customers with any extra accounting burden that the new standards impose.
The IASB's proposals are intended to bring all leased assets onto the balance sheet, giving a more complete picture of a business's financial position. If introduced, they would require any publically quoted companies leasing assets - computers, vehicles or property, for example - to account for them, giving greater transparency to investors.
This new approach to lease accounting, called the ‘right of use' model, differs substantially from the current standard, which does not require operating leases to be reported in company accounts. Under the new model, a lessee (leasing customer) would identify the right to use a leased asset on its balance sheet and incur a corresponding liability for future rental payments.
The board consulted widely before finalising the new proposals and has tried to make them as simple as possible in order to reduce the extra reporting burden on lessees. Initially, the new standards will only apply to publicly quoted firms that report to IASB standards. Most UK firms report to the UK's generally accepted accounting principles (GAAP) and will be unaffected until these converge with IASB standards. There is no date set for this at present.
Even if a company is affected, bringing leased vehicles onto a firm's balance sheet will not erode the key benefits of leasing, according to BVRLA chief executive, Gerry Keaney.
"Leasing has proved its value, sheltering companies from the risk of fluctuating vehicle values, providing them with extra flexibility and purchasing power and freeing-up precious working capital that would otherwise have been spent buying an asset.
"Our members already advise customers on how to reduce fleet costs and emissions and I am confident they can add even more value by helping them with their reporting requirements."
Following the current consultation the IASB will publish a final standard towards the end of 2013. There will be a transition period before the new standard becomes mandatory in a few years' time.
DATED: 20.05.13
FEED: HA
Volkswagen builds new plant in Changsha, south-central China
- Planned annual capacity of 300,000 vehicles
The new plant in Changsha is scheduled for completion end of 2015 and will manufacture approx. 300,000 vehicles per year. A complete production facility with press shop, body shop, paint shop and final assembly is being built. Priority is being given to reducing energy and water consumption as well as CO2and solvent emissions, and to cutting back waste volumes in line with the "Think Blue. Factory." programme. According to Heizmann: "We will meet our environmental responsibility in Changsha and set another milestone in resource efficient production with the new factory."
The Changsha plant is part of the €9.8 billion investment programme being realised by the two Chinese joint ventures in the period to 2015. The aim of the investment projects financed from the cash flow of the two joint ventures Shanghai-Volkswagen and FAW-Volkswagen is to consolidate the Volkswagen Group's leading position on the Chinese passenger car market. The investments focus on developing new models and expanding production capacity. The Changsha factory is one of seven new plants to be built in China this year and over the coming years. The plants will also create new skilled jobs.
Shanghai-Volkswagen currently operates vehicle plants in Shanghai and Nanjing as well as Yizheng in the province of Jiangsu. Further factories are being built in Ningbo and in Urumqi under the "Go West" strategy.
FAW-Volkswagen operates vehicle plants in Changchun and Chengdu. The factory in Foshan which is currently under construction will be FAW-Volkswagen's first plant in Southern China. Together with its partners FAW-Volkswagen and Shanghai-Volkswagen, the Volkswagen Group currently builds 20 models of the Volkswagen, ŠKODA and Audi brands in China.
DATED: 20.05.13
FEED: HA
Cakebread is new BVRLA chairman
Peter Cakebread is the new chairman of the BVRLA.
He takes over from Hertz's Neil Cunningham, who has stepped down after completing his two-year term.
A Cambridge economics graduate, Peter is currently managing director of Marshall Leasing. He has helped steer the work of the BVRLA for more than a decade, chairing its Leasing and Fleet Management Committee between 2007 and 2009. More recently, he was part of the selection panel that recruited the BVRLA's new chief executive, Gerry Keaney.
"It has been a pleasure working with Neil, particularly as we have similar views on most things," said Cakebread, who has already identified some priorities for the association.
"I want to ensure that the BVRLA punches its weight in government circles and is the first port of call for policymakers when they are drawing up new laws that could affect our sector. In a world where legislation comes thick and fast it is vital that we get involved at the earliest stage.
"Coming from a position of running one of the association's smaller members, I also want to ensure that what we do benefits all members. I feel confident that we can do that for both the rental and leasing sectors."
New leasing and fleet management chairman
Keith Allen, managing director of ARI Fleet UK, is the new chairman of the BVRLA's Leasing and Fleet Management Committee. He replaces Simon Oliphant of Hitachi Capital Vehicle Solutions, who becomes vice-chairman following a two-year stint leading the committee.
Keith brings more than 17 years of experience in the industry, having spent 13 years as managing director of ALD Automotive.
"We always have plenty of challenges to deal with on the committee and I can already see that my time as chairman won't be any different. We have new lease accounting rules on the horizon, major reorganisation at the DVLA and some key messages to get through to government on how the business car tax regime needs to change.
"We need to tackle these issues while ensuring that it is business as usual as far as the leasing and fleet management industry's customers are concerned."
Huxford takes the leasing broker helm
Paul Huxford of PHVC Vehicle Management has replaced Fleet Alliance's Martin Brown as chairman of the BVRLA Leasing Broker Committee.
"I am proud to be taking over the committee in such good shape," said Huxford.
"I hope to continue the work that Martin Brown started in improving relationships with motor manufacturers and funders. We also have to get to grips with the introduction of the new Financial Conduct Authority, which will have a major impact on the leasing broker sector."
About the BVRLA:
The British Vehicle Rental and Leasing Association is the national trade body for companies engaged in the leasing and rental of cars and commercial vehicles. Its members provide short-term rental, contract hire and fleet management services to corporate users and consumers. They operate a combined fleet of around 2.75 million cars, vans and trucks, buying nearly half of all new vehicles sold in the UK. Through its members and their customers, the BVRLA represents the interests of more than two million business car drivers and the millions of people who use a rental vehicle each year. As well as lobbying the government on key issues affecting the sector, the BVRLA regulates its members through a mandatory code of conduct.
Please visit www.bvrla.co.uk to find out more.
Follow us on Twitter: @bvrla
DATED: 20.05.13
FEED: HA
Thunder set to arrive this summer - C 63 AMG Edition 507 comes to the UK
The thundering new C 63 AMG Edition 507 will be available in the UK from July as a Saloon, Estate and Coupe packing an extra 50 hp and 10 Nm of torque over the standard C 63 AMG models.
Prices start from £66,960 OTR for the C 63 AMG Edition 507 Saloon, £68,160 for the Estate and £68,160 for the Coupe.
The extra horsepower and torque allows the Edition 507 to reach 62 mph in just 4.2 seconds (4.3 seconds for the Estate) and thanks to the AMG Drivers Package, which derestricts the top speed, powers on up to an electronically limited top speed of 174 mph.
The C 63 AMG Edition 507 also has greater style to match the substance. It is instantly recognisable thanks to 19" AMG Cross-Spoke alloy wheels with a Titanium finish, a high performance composite brake system with red brake callipers and an AMG bonnet with power domes and air outlets finished in a high black gloss borrowed from the mighty C 63 AMG Black Series Coupe.
The high gloss black exterior mirrors, radiator grille and front apron complete the exterior finish along with an AMG Sports Stripe in matt graphite grey which is featured on the side of the car. The Saloon also features an AMG boot lid spoiler.
Exclusivity is not only for the outside of the car. On the inside the Edition 507 features designo Black Leather as standard or customers can choose between the optional designo Porcelain Leather with Black Dinamica and contrast stitching or the designo Black Leather with Black Dinamica as a no cost option.
The AMG Performance Steering Wheel is also fitted as standard and is complemented by Edition 507 badging on the dash and AMG high black gloss trim while the door panels and the emblem embossed gearshift lever are finished in Dinamica and the AMG instrument cluster features red accents.
Six colours are available for the Edition 507, Fire Opal, Polar White, Obsidian Black, Irdium Silver and the optionaldesigno Magno Platinum (£3,660).
AMG Drivers Package
On top of all the exclusive styling and enhanced performance the addition of the AMG Drivers Package not only gives the driver an increased top speed of 174 mph, but also includes attendance at an AMG BASIC Training Power and Passion Event so the driver can learn how to get the most out of their own car.
The one and a half day course is held at one of five renowned racetracks in Germany, Bilster Berg Race Resort, Nurburgring GP, Hockenheimring, Sachsenring or Lausitzring and covers a theoretical and practical introduction into handing of the customer's own C 63 AMG Edition 507 Saloon, Estate or Coupe at high speeds.
Hotel accommodation, catering, a Driver's Dinner and technical support are all included. Customers just have to cover the cost of getting to the circuit and any extra insurance costs required for track use. Should customers not want to use their own car they can hire a car from AMG for a fee.
DATED: 20.05.13
FEED: HA
Drivers young and old back plans for minimum learner period to tackle crashes
The driving public - including under-25s - has spoken out in favour of a minimum learning to drive period to tackle young driver crashes, as is currently being considered by government. A survey by road safety charity Brake and Direct Line out today reveals 84% of drivers agree we need a minimum learning period, while even 69% of drivers under 25 are in favour.
Brake is also calling for post-test restrictions on novice drivers, such as a zero tolerance drink drive limit and a bar on late night driving and carrying mates. (See below for evidence underpinning these calls.)
The survey of 1,000 drivers by Brake and Direct Line also found:
- Widespread support for a range of post-test restrictions, including 70% support for a zero-tolerance drink drive limit for novice drivers, and 63% support for this from drivers under 25.
- Nearly nine in 10 (88%) think there should be a minimum number of hours of supervised driving for learners, with six in 10 (58%) thinking this should be at least 35 hours.
- Nine in 10 (90%) want mandatory lessons on motorways and in difficult conditions for all learners.
Julie Townsend, deputy chief executive, Brake, the road safety charity, said: "The government has an opportunity to make a real difference to road safety and save a lot of young lives through reforming our driver licensing system. Death and serious injury on roads is devastating, especially so when it involves someone young, with their whole life ahead of them. Evidence on how to reduce young driver crashes is very clear; by introducing a system of graduated licensing we can expect to make real inroads to ending the devastation caused by young driver crashes. We're calling on government to take bold steps by introducing all elements of graduated licensing - including a minimum learning period and post-test licence restrictions - but without compromising safety by simultaneously introducing changes that would increase risk, such as a lower minimum driving age."
Gus Park, commercial director at Direct Line, said: "Young drivers make up only one in eight licence holders, but are involved in crashes that result in one in five road deaths and serious injuries. We believe that these statistics can be changed substantially through the implementation of graduated driver licensing. It would have a positive effect on the driving behaviour and habits of young people, particularly in the critical period just after passing their test, and more importantly, reduce catastrophic road crashes and save lives."
Facts
Traffic is the biggest killer of young people in Britain aged 15 - 24 [1]. Young drivers are also involved in a disproportionately high number of crashes that kill and injure road users of all ages. Young drivers (age 17-24) are involved in crashes that result in one in five road deaths and serious injuries (20%) - 13 deaths and serious injuries every day [2] - despite only making up one in eight (12%) licence holders [3]. Young drivers are more likely to crash because a combination of age and inexperience make them more likely to take risks on roads the younger they are, and less able to handle those risks because of a lack of experience [4].
Traffic is the biggest killer of young people in Britain aged 15 - 24 [1]. Young drivers are also involved in a disproportionately high number of crashes that kill and injure road users of all ages. Young drivers (age 17-24) are involved in crashes that result in one in five road deaths and serious injuries (20%) - 13 deaths and serious injuries every day [2] - despite only making up one in eight (12%) licence holders [3]. Young drivers are more likely to crash because a combination of age and inexperience make them more likely to take risks on roads the younger they are, and less able to handle those risks because of a lack of experience [4].
Graduated licencing includes a minimum learning period, and post qualification restrictions for a period, such as a zero tolerance drink drive limit, a bar on having young friends as passengers and restrictions on late night driving other than for work or education. Evidence shows these are situations in which novice drivers are particularly at risk [5].
Where graduated driver licensing has been introduced elsewhere in the world, it has had a big impact on casualty reduction [6]. Research has shown that in the UK a system of graduated driver licensing would prevent 200 deaths and thousands of injuries each year [7].
Reducing the age at which you can get a provisional licence would negatively impact upon safety gains from introducing a minimum learning to drive period. This is because the younger you are when you can drive independently, the greater your risk of crashing [8].
Read more about Brake's Too young to die campaign.
Read Brake's advice for young people.
Read more about Brake's Too young to die campaign.
Read Brake's advice for young people.
Case study
Rachel Blacklidge, 19, from Preston, was driving home at 11.30pm on 23 February 2013. She had only passed her test two months before on January 4. She picked up her cousin and two friends to go for a drive, as they often did.
Rachel Blacklidge, 19, from Preston, was driving home at 11.30pm on 23 February 2013. She had only passed her test two months before on January 4. She picked up her cousin and two friends to go for a drive, as they often did.
Rachel was travelling at 55mph on a 60mph road, when she lost control on a bend, crashing through a bush and two fences before the vehicle rolled over. One passenger's head was pushed through the closed window by the force of the crash, leaving him with cuts to his head. Rachel's cousin suffered cuts on her arms, while her other friend injured his elbow. Rachel herself suffered severe whiplash, a spinal injury, torn ligaments and cuts. The car was written off. They were lucky to survive.
Rachel said: "The crash has left me traumatised - I can't believe I put my friends in so much danger. Just because a road sign says 60 doesn't mean you have to go at 60 or that it's safe to do so. It's so easy not to see something or judge something wrong, especially when you're a new driver and not used to the road. Now I feel very strongly about informing young drivers about road safety. We're lucky to have survived with only minimal injuries; many other young people aren't so lucky."
DATED: 20.05.13
FEED: HA
UK automotive manufacturing (data for April)
Car output rebounds in April to lift year-to-date total.
- Car manufacturing rose 16.6% to 110,033 units in April.
- After a subdued Q1, output so far this year increased 1.5% to 503,449 units.
- Growth reflects demand in the home market, up 66.1% in April and in economies outside of Europe. Weak European demand remains a concern.
- Independent analysts suggest that UK car manufacturing could grow a third bigger by 2016 with growth expected year-on-year.
"UK car production bounced back in April, up almost 17%, following a sluggish Q1 that was impacted by an early Easter and continuing uncertainty across Europe," said Mike Baunton, SMMT Interim Chief Executive. "Significant growth in output for the home market reflects trends in new car buying in the UK, and the focus on growing in new markets, beyond Europe, has provided further buoyancy to volumes. While demand in Europe overall is very weak, the global appeal of our products, coupled with long-term investment strategies, position the UK on a secure path to achieve further growth and jobs in the sector."
Car manufacturing
|
Apr-12
|
Apr-13
|
% Change
|
YTD-12
|
YTD-13
|
% Change
|
Total
|
94,352
|
110,033
|
16.6%
|
495,777
|
503,449
|
1.5%
|
Home
|
13,416
|
22,278
|
66.1%
|
87,693
|
112,531
|
28.3%
|
Export
|
80,936
|
87,755
|
8.4%
|
408,084
|
390,918
|
-4.2%
|
% export
|
85.8%
|
79.8%
|
82.3%
|
77.6%
|
- Commercial vehicle (CV) output fell 3.3% in April to 8,623 units.
- While output continued to decline in April, the fall was less pronounced and output for the home market grew.
- CV output so far this year is down 15.2% and while some CV manufacturers are performing better than others, net volumes are expected to fall over the full year.
"Demand for UK-built commercial vehicles continued to fall in April, with output dropping 3.3%. There is growth at some UK plants which helped to ease the rate of decline compared to previous months this year," said Mike Baunton, SMMT Interim Chief Executive. "2013 is proving to be a difficult year for our CV manufacturers as they experience weak demand from export markets, particularly Europe. Rising output for the home market is encouraging, demonstrating that UK operators are keen to exploit the diverse variety of CVs made in the UK from light vans to double-decker buses and large trucks."
CV manufacturing
|
Apr-12
|
Apr-13
|
% Change
|
YTD-12
|
YTD-13
|
% Change
|
Total
|
8,913
|
8,623
|
-3.3%
|
38,284
|
32,477
|
-15.2%
|
Home
|
3,131
|
3,897
|
24.5%
|
15,177
|
16,563
|
9.1%
|
Export
|
5,782
|
4,726
|
-18.3%
|
23,107
|
15,914
|
-31.1%
|
% export
|
64.9%
|
54.8%
|
60.4%
|
49.0%
|
- UK engine output rose 9.9% in April to 211,452 units.
- Earlier shortfalls ensure engine production during the year-to-date fell 2.1% at 871,707 units.
- Volumes for the home market rose, in line with registration trends. Export volumes have fallen so far this year, however, did rise modestly in April.
Engine manufacturing
|
Apr-12
|
Apr-13
|
% Change
|
YTD-12
|
YTD-13
|
% Change
|
Total
|
192,408
|
211,452
|
9.9%
|
890,154
|
871,707
|
-2.1%
|
Home
|
66,271
|
83,837
|
26.5%
|
314,023
|
338,119
|
7.7%
|
Export
|
126,137
|
127,615
|
1.2%
|
576,131
|
533,588
|
-7.4%
|
% export
|
65.6%
|
60.4%
|
64.7%
|
61.2%
|
DATED: 20.05.13
FEED: HA
