News - Page 2383

FLEETS can expect cheaper premiums as a result of the forthcoming merger between the Royal and Sun Alliance insurance companies. The Royal is Britain's biggest fleet car insurer and currently covers 250,000 fleet vehicles and a further 250,000 Motability vehicles. Motability is the largest leased car scheme in Europe and now accounts for 5% of all new car sales in the UK.

THE motor industry is heading for crisis, with the supply of new cars set to massively outstrip demand thereby throwing residual value calculations into chaos, it is claimed.

PEUGEOT'S heavily revised 106 range of superminis goes on sale in the UK from June 1 with improved styling, specification and safety. Buyers can look forward to a car that is 11 cms longer than before, all new from the windscreen forward and with a new hatch and redesigned grille, badging and lights.

PAUL Austin, managing director of BSM Qualified Driver Training for almost two years, has left the company by 'mutual consent'. Austin has been responsible for spearheading the dramatic expansion of the business and for raising the profile of driver training within the fleet industry.

SANYO UK Sales has signed a solus supply agreement with British Car Contracts to cover its 80 cars. BCC will provide all the Hertfordshire-based fleet's needs on a contract hire basis for the next three years, supplying a multi-franchise range on full service and maintenance over three years/90,000 miles. Vehicles that cover a very high mileage will be changed every two years.

DIESEL residual values have stopped their three-year slide which was triggered by health scares and high volumes reaching the marketplace.

MORTGAGE specialist National Home Loans is to diversify into vehicle leasing with the acquisition of Coventry-based RCR Contract Hire and Leasing. Publicly quoted NHL paid £7.5 million for RCR which operates a fleet of almost 1,800 vehicles mainly within the small to medium-sized business sector.

MANHEIM Auctions - the world's largest vehicle auction company - has secured a foothold in the UK disposals market by backing Independent Car Auctions' bid for Central Motor Auctions.

CHELTENHAM-based Sapa Holdings has appointed BCH Vehicle Management as its sole supplier of contract hire cars to the group on a three-year deal. The group manufactures aluminium extrusions and related products to the building industry and operates a mixed fleet of 175 vehicles. BCH won the contract from three other companies which also tendered for the deal.

BRITISH Car Contracts has brought home the bacon - in the shape of a solus deal for 165 cars for Danish Bacon. The company will move over to contract hire from direct purchase as their old cars reach the set mileage/age parameters and go to auction.

LEX Services' director of corporate sales Gary Spellins is to leave the company next week to join the giant GE Capital Corporation. Initially based in London working within GE's European businesses, Spellins and his family will then move to the United States in mid-July for nine to 12 months where he will work in GE's worldwide headquarters in Connecticut.

BRITAIN'S General Union - the GMB - is updating its national vehicle fleet and has placed an order with Vauxhall Master Hire Leasing for 300 Vauxhall Vectras. After switching to Vauxhall Cavaliers from a predominantly Ford-based fleet in 1994, the GMB has renewed its commitment to the Vauxhall marque by extending its single-badge arrangement to 1998.

ACQUISITIVE fleet management company GE Capital Fleet Services has announced large scale restructuring across its three principal operating companies - Avis Fleet Services, Cochranes and Leasecontracts.

PEUGEOTS worth about £2.5 million at showroom prices have been purchased by the Peter Cox Group in a solus deal. The 250 cars are mainly 306 diesel models and they will replace a mixed fleet of diesel vehicles.

GUARDIAN Insurance is to handle accident management on behalf of BT in a deal involving some £75 million worth of motor insurance over three years. Guardian clinched the contract, which covers a fleet of some 60,000 cars and commercial vehicles, in a competitive tender involving several leading insurance and fleet management companies.

THE Government has defended the list-price based company car tax regime it introduced two years ago. Criticism of the system came from 'a significant number of respondents' to the Government's national transport debate which was launched 18 months ago by then Transport Secretary, Dr Brian Mawhinney.

COWIE Interleasing has expanded its ability to offer multinational companies a global fleet service. The Birmingham-based contract hire and fleet management company is a member of Interleasing Europa, the consortium of leading leasing operators, which has admitted new international partners from Canada, Czechoslovakia, Denmark and Finland.

ROVER Group chief executive John Towers is to leave the company and has resigned from the board with effect from June 1. The shock departure of Towers comes just over two years after the Rover Group was acquired by BMW and follows recent revelations in which Rover revealed it was reducing its dealer network and targeting genuine fleet business rather than fast-cycle sales (Fleet News April 19).

VOLKSWAGEN is to reduce dealer margins by 1% in a bid to improve customer service levels across its franchised network and further increase market share.

THE fleet industry is poised for a massive shake-up of acquisition policies if HM Customs & Excise loses a series of high-profile legal battles. The VAT man is under pressure on three fronts as a number of key players seek to recover billions of pounds in backdated VAT.

ALFA Romeo is making range changes to the 164 to improve comfort and appearance along with price rises averaging 1.8%. The 164 2.0 Twin Spark has been replaced by the 164 2.0 Super while the 164 2.0 Super is superseded by the 164 2.0 Super Lusso.

BCH Vehicle Management has won a contract to manage Huntleigh Healthcare's 110-vehicle fleet. Under the new contract, BCH will provide Huntleigh with a comprehensive range of vehicle management services, including acquisitions and disposals, fuel cards and accident management.

HYUNDAI has raised prices of six Accent models by an average of 1.4% while holding the price of the entry level Accent 1.3 Coupe I. Other Hyundai models are also unaffected by the move.

KWIK-FIT has bought three tyre and exhaust companies operating from 45 specialist centres for £12.3 million to boost its European outlets network to 836.

A NEW traffic information service has been launched by Trafficmaster. Called Oracle, the latest development in in-car hi-tech will provide audible information on motorway traffic through the car's standard audio system using a network of sensors on Britain's motorways.

TESCO predicts that a continuation of the petrol price war will cost the superstore giant £30 million over the next 12 months. Company chairman Sir Ian MacLaurin said the war had now reached its peak, but increases in wholesale petrol prices would still put pressure on margins.

AUGUST'S VAT rule changes triggered a £2.25 million sale and leaseback deal between vehicle management services company Dial and cash and carry group Nurdin & Peacock.

PEUGEOT fleet customers will benefit from a new system which aims to deliver vehicles within two days of orders being placed. Peugeot has launched the 3-D system - demand driven distribution - which gives dealers access to 15,000 vehicles stored at four compounds in the UK.

RESURGENT van builder LDV revealed a 27% rise in pre-tax profits to £23.3 million on turnover up 43% last year. It also announced it is looking for partners to fund a £150 million programme to develop future van models. A Stock Market flotation is another funding option.

VAN, car and truck rental operator Smith Self Drive has been bought by TIP Europe, part of GE Capital Services, for an undisclosed sum. The deal gives TIP Europe its first foothold in the short term rental sector and UK and European expansion is now expected.