The weekly round-up of UK fleet news including FLA and
Manheim statistics, Honda sales, Lex people, and Isuzu and TIP
three-year agreements.
Business car leasing up in
May
Go deeper with GlobalData
The UK business new car sector accounted for
£600m in finance across 42,134 purchases, growing 26% by value and
34% by volume year-on-year in May according to
figures from the Finance & Leasing Association.
At least every other finance agreement signed
in May, worth an average of £14,362, was an operating lease
although the value of hire purchase deals was up 57%
year-on-year.
Since May 2011, the sector has grown 9% by
volume to 401,962 registrations.
Used business finance in May was also up on
the previous year 41% by volume to 5,956.
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By GlobalDataFleet sector used values up, stock
down
Used car values in the UK fleet sector have
risen 9.8% year-on-year for the month of June despite an average
two-month age increase over the same period, according to analysis
from Manheim.
The average used car value for fleet was
£6,699 in June,
a 1% increase from the previous month, figures from the vehicle
auction house show.
The data also revealed the volume of used cars
available – across fleet, dealer part-exchange and retail – has
fallen, while value has risen by 13% year-on-year.
Daren Wiseman, valuation services manager at
Manheim Auctions, said: “We are now facing the inevitable
consequences of the economic climate three or four years ago when
market conditions were at their toughest and organisations made the
strategic decision to retain their fleets for longer.
“So, we are perhaps unlikely to see stock
levels recover this side of Christmas. Combine this shortfall in
stock with a series of events which preoccupy the nation’s
attention – Jubilee, Euros and Olympics – and forecasting retail
demand becomes very difficult.”
Honda UK strong fleet
results
Honda’s ‘true fleet’ (fleet, minus rental and
Motability) sales grew 26% year-on-year in the UK in the first half
of 2012, and by 11% for all corporate sales.
In particular, March saw 15% year-on-year
growth, year-on-year, followed by 55% in April, 94% in May and 97%
in June.
The UK arm of the Japanese manufacturer
attributed the success to the British-built Civic, which has
shifted over 4,000 corporate units year-to-date, three times the
sales registered by this time last year.
Lex selects next apex
Lex Autolease is aiming to beef up its
commercial vehicle team capability with several senior
appointments.
Marcus Puddy has been promoted from head of product development
at the UK fleet lessor to director of commercial vehicles and the
company is soon to announce the appointment of three others to the
division.
Two commercial vehicle consultants and senior
consultant will join Puddy as the company, with currently runs a
fleet of 70,000 commercial vehicles, aims to enhance its
engineering capabilities and drive sector growth.
Mark Chessman, commercial director at Lex Autolease said: “The
appointment of Marcus, and others, signals our intent to commercial
vehicle operators and the market as a whole.
“We operate the largest LCV fleet in the
sector, backed up by one of the most respected consultancy and
engineering teams in the business. With added personnel and
investment, in IT and other areas of operations, there are strong
growth prospects ahead.”
Isuzu and Fresh Direct, TIP and GE
Fleet, ink three-year deals
Isuzu has supplied 39 Forward refrigerated
rigids to food delivery company Fresh Direct on a three-year
contract with provision for each vehicle to cover 45,000km per
year.
The order comprises 25 replacement Isuzu
trucks and another 14 as an extension of the Bicester-based
company’s fleet.
Meanwhile, fleet management company TIP
Trailer Services has added six Renault Master LWB35 mobile service
units, supplied by GE Fleet on a three-year deal, to its fleet of
nearly 50 vehicles providing support to its FleetCare service.
richard.brown@vrlfinancialnews.com
grant.collinson@vrlfinancialnews.com
