News - Page 2420

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 The 164 2.0 Twin Spark has been replaced by the 164 2.0 Super while the 164 2.0 Super is superseded by the 164 2.0 Super Lusso.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.

ROVER has launched two new versions of the 100 range called the Knightsbridge and Knightsbridge SE, with new colours, trims and specifications. It is now the cheapest model in the range at £6,595 with its spec derived from the existing 111i.

BRITAIN'S 51 police forces and the Home Office police department have extended a tyre deal with Goodyear until 1998 following the end of a three year agreement.

THE Fleet Driver Training Association has appointed its first new member following the launch of the organisation by 10 founder members. Aylesbury-based Defensive Driving Consultants was admitted to the Association at its second meeting.

STOLEN vehicle recovery system Tracker can now be fitted to cars and vans for £2.75 a week over three years. The weekly payment is available on a leasing plan for a minimum of three vehicles following a link up between Tracker and finance company Schroder Leasing.

VAUXHALL is offering £600 off a new Astra 1.6 in an unrepeatable restricted offer to fleet operators. The special deal enables all VAT-registered companies to buy an Astra 1.6 LS hatchback for the same price as the 1.4 model.

THE Association of Car Fleet Operators is claiming 'strong support' for its campaign to force manufacturers to abolish delivery charges. And at the Fleet Show at Silverstone, ACFO chiefs were lobbying manufacturers to establish how many of them were willing to commit to restructuring their price lists.

PEUGEOT made profits of just £4.9 million from its UK operations last year - down from £9.5 million over the previous 12 months. The company blamed poor demand and tougher competition - especially in the fleet market - and an ageing product mix and also noted a slip in market share from 7.7% to 7.4%.

ROVER has secured a contract to supply Group Lotus with 420 cars worth around £6.3 million at showroom prices.

FORD has broken arch-rival Vauxhall's stranglehold on the Association of Car Fleet Operators' 'Fleet Car of the Year Award'. This year, the 11th annual poll among ACFO's 640 fleet operator members, the Ford Mondeo has won the prestigious accolade.

CHRYSLER has released prices for its new Neon car and fleets can look forward to high specification including a no-cost automatic transmission. The move represents a first in the sector and it would appear that Chrysler aims to offer a Mondeo sized car at Escort prices.

A MAJOR survey of thousands of fleet car accidents has revealed that the cheapest company cars to repair are Fiats and Range Rovers. Most expensive are Honda and Mazda which cost nearly twice as much to repair as the mainstream fleet cars.

THE information superhighway will increasingly replace the motorway as the business community makes more use of electronic media as an alternative form of travel, says a new report from Autoglass.