Joju Solar unveils finance product for EV charging infrastructure

Renewable energy operator Joju Solar has unveiled finance product for both rapid and standard electric vehicle (EV) charge points in the UK. As the transition to EVs appears to be continuing – if not accelerating – alongside the pandemic with manufacturers ramping up investment, the company has noted increased interest in its charge point finance solution. According to the company, external funding enables local authorities to install public charging infrastructure at zero upfront cost. The council is then able to cover the cost of the charge points, their maintenance and even make some profit for the host site as drivers pay to use them. Joju also provides workplace charging schemes.

Joju Solar unveils finance product for EV charging infrastructure

Jun 30, 2020

Renewable energy operator Joju Solar has unveiled finance product for both rapid and standard electric vehicle (EV) charge points in the UK. As the transition to EVs appears to be continuing – if not accelerating – alongside the pandemic with manufacturers ramping up investment, the company has noted increased interest in its charge point finance solution. According to the company, external funding enables local authorities to install public charging infrastructure at zero upfront cost. The council is then able to cover the cost of the charge points, their maintenance and even make some profit for the host site as drivers pay to use them. Joju also provides workplace charging schemes.

VW Financial Services’ new CCO promises to stimulate showroom sales

The new chief commercial officer of VW Financial Services (VWFS) has vowed to help “get Britain moving again” in his new role. Carl zu Dohna (pictured) has 20 years’ experience in automotive management and previously worked as director of VW Commercial Vehicles before taking the new role in May.

VW Financial Services’ new CCO promises to stimulate showroom sales

Jun 29, 2020

The new chief commercial officer of VW Financial Services (VWFS) has vowed to help “get Britain moving again” in his new role. Carl zu Dohna (pictured) has 20 years’ experience in automotive management and previously worked as director of VW Commercial Vehicles before taking the new role in May.

Auto finance “enablers” sought by motor dealers predicts Startline Motor Finance

Those auto finance lenders which are able to show a high degree of “flexibility and willingness” when dealing with their dealer partners are likely to be winners as the used car sector emerges from lockdown. Startline Motor Finance’s CEO, Paul Burgess, explained that vehicle retailers are looking for a high degree of flexibility and willingness from suppliers in relation to finance, allowing them to restart their businesses as quickly and effectively as possible.

Auto finance “enablers” sought by motor dealers predicts Startline Motor Finance

Jun 24, 2020

Those auto finance lenders which are able to show a high degree of “flexibility and willingness” when dealing with their dealer partners are likely to be winners as the used car sector emerges from lockdown. Startline Motor Finance’s CEO, Paul Burgess, explained that vehicle retailers are looking for a high degree of flexibility and willingness from suppliers in relation to finance, allowing them to restart their businesses as quickly and effectively as possible.

EMEA

ACEA forecasts “sharpest drop ever” in European car sales

Jun 24, 2020

In the light of which it terms “the major economic crisis facing the auto industry due to COVID-19”, the European Automobile Manufacturers’ Association (ACEA) has radically revised its 2020 forecast for passenger car registrations down by around 25%. This effectively means that the industry association expects car sales in the European Union (EU) to tumble by more than three million from 12.8 million units in 2019 to some 9.6 million units this year.

Americas

Experian reveals US delinquencies holding up despite plummeting car sales

Jun 18, 2020

US automotive insight provider Experian, provided an in depth look at outstanding loan balances, total risk distribution and delinquency rates for the first quarter of 2020. Furthermore, in the Q1 2020 State of the Automotive Finance Market, Melinda Zabritski, senior director of Experian Automotive Financial Solutions, observed April’s originations to see how the pandemic is impacting auto lending. Offering information from Experian’s consumer credit database, Zabritski undertook a review of all open automotive loans and leases, regardless of when they originated. Total loan balances decreased year-over-year by $12 billion in Q1 2020 compared to the year before, falling to $1.168 trillion from $1.181 trillion.

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.