Plan for ‘pay-per-mile’ for London road users

Drivers in London could be paying by the mile for travelling on the capital’s roads by the end of this decade, as part of moves to reduce car traffic by 27% by 2030. A report commissioned by the Mayor of London suggests abolishing all existing road user charges – such as the Congestion Charge and ULEZ - and replacing them with a pay per mile scheme, with different rates depending on how polluting vehicles are, the level of congestion in the area and access to public transport.

Plan for ‘pay-per-mile’ for London road users

Jan 19, 2022

Drivers in London could be paying by the mile for travelling on the capital’s roads by the end of this decade, as part of moves to reduce car traffic by 27% by 2030. A report commissioned by the Mayor of London suggests abolishing all existing road user charges – such as the Congestion Charge and ULEZ - and replacing them with a pay per mile scheme, with different rates depending on how polluting vehicles are, the level of congestion in the area and access to public transport.

Auto retailers face “new normal” focused on margin retention

The automotive sector will not return to pre-Covid norms at any point in the next 12 months, according to analysis from Cox Automotive, which cautions retailers will have to adapt to a “new normal”, focusing on margin retention and profit. While demand will remain high, supply will stay low as the ongoing raw material and semiconductor shortages affecting the new car market and filtering down to the used car market are unlikely to ease until later this year.

Auto retailers face “new normal” focused on margin retention

Jan 14, 2022

The automotive sector will not return to pre-Covid norms at any point in the next 12 months, according to analysis from Cox Automotive, which cautions retailers will have to adapt to a “new normal”, focusing on margin retention and profit. While demand will remain high, supply will stay low as the ongoing raw material and semiconductor shortages affecting the new car market and filtering down to the used car market are unlikely to ease until later this year.

Drivers resistant to switch to EVs

A quarter of drivers would rather choose a used petrol or diesel car than switch to an electric vehicle (EV) once the ban on the sale of new ICE cars takes effect, according to a survey carried out by Aston University for EV salary sacrifice and fleet management specialist, Fleet Evolution. Results from the attitude survey, which went out to around 10,000 drivers, fleet and HR managers, small businesses and private motorists, indicate a lack of knowledge and entrenched attitudes continue to exist towards EVs, the company said.

Drivers resistant to switch to EVs

Jan 13, 2022

A quarter of drivers would rather choose a used petrol or diesel car than switch to an electric vehicle (EV) once the ban on the sale of new ICE cars takes effect, according to a survey carried out by Aston University for EV salary sacrifice and fleet management specialist, Fleet Evolution. Results from the attitude survey, which went out to around 10,000 drivers, fleet and HR managers, small businesses and private motorists, indicate a lack of knowledge and entrenched attitudes continue to exist towards EVs, the company said.

EMEA

Stellantis to re-organise its finance offer

Jan 06, 2022

In a pre-Christmas announcement, Stellantis signalled its intention to streamline its European financing operations in order to create a leading operational leasing group and enhanced captive finance arm. The move, coming in the wake of last summer’s merger between the French Peugeot PSA and Italian FCA groups, is designed to spearhead a push into the mobility market.

Americas

Stellantis to set up US auto finance captive with First Investors acquisition

Sep 03, 2021

Dutch-owned Stellantis is to pay approximately $285 million to acquire Houston-based First Investors Financial Services Group as the first step in creating a US-based finance arm. The company, formed at the beginning of the year from the merger of FCA and PSA, is the only major OEM currently operating in the US without a captive auto finance company.

Asia Pacific

Toyota Finance New Zealand partners with Ephesoft on digital transformation initiative

Jan 28, 2020

Toyota Financial Services New Zealand (TFNZ) has partnered with Ephesoft to drive its automotive loan application and settlement processing. TFNZ will use Ephesoft’s Transact software within its loan operations team to automate the classification and processing of key forms and documents. The Transact platform uses artificial intelligence, machine learning and cloud-based services to automate document processing and will integrate with the finance company’s existing loan origination system.