Best year in a decade for UK CV production

UK commercial vehicle (CV) production grew 39.3% in 2022, with 101,600 vans, trucks, taxis, buses and coaches leaving factory lines, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT). Closing off the year, turbulence in global supply chains and logistics issues saw December post 2022’s first monthly decline, as output fell -23.6% to 4,710 units after 11 months of consecutive growth.

Best year in a decade for UK CV production

Jan 27, 2023

UK commercial vehicle (CV) production grew 39.3% in 2022, with 101,600 vans, trucks, taxis, buses and coaches leaving factory lines, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT). Closing off the year, turbulence in global supply chains and logistics issues saw December post 2022’s first monthly decline, as output fell -23.6% to 4,710 units after 11 months of consecutive growth.

Jaguar Land Rover and BNP Paribas launch new mobility financing and services in Europe

Jaguar Land Rover and BNP Paribas have launched a suite of new mobility financing services across nine European markets as part of their strategic partnership. The collaboration is the first phase of a transformational plan to reimagine the role of financial services for clients of its Range Rover, Defender, Discovery and Jaguar brands.

Jaguar Land Rover and BNP Paribas launch new mobility financing and services in Europe

Jan 26, 2023

Jaguar Land Rover and BNP Paribas have launched a suite of new mobility financing services across nine European markets as part of their strategic partnership. The collaboration is the first phase of a transformational plan to reimagine the role of financial services for clients of its Range Rover, Defender, Discovery and Jaguar brands.

Cazoo halves sales ambition despite strong end to FY2022

Cazoo have halved their 2023 sales ambition to 40,000-50,000 UK retail units, allowing them to focus on higher margin and faster moving inventory and to rationalise their operational footprint. In its preliminary financial results for the three months ended December 31, 2022, Cazoo reported a strong end to FY22 with revised FY23 plan aimed at rapidly improving unit economics and extending cash runway.

Cazoo halves sales ambition despite strong end to FY2022

Jan 20, 2023

Cazoo have halved their 2023 sales ambition to 40,000-50,000 UK retail units, allowing them to focus on higher margin and faster moving inventory and to rationalise their operational footprint. In its preliminary financial results for the three months ended December 31, 2022, Cazoo reported a strong end to FY22 with revised FY23 plan aimed at rapidly improving unit economics and extending cash runway.

EMEA

Stellantis and Terrafame agree on nickel sulphate supply for EV batteries

Jan 18, 2023

Stellantis N.V. and Terrafame Ltd. announced today the signing of a supply agreement for nickel sulphate to be used in electric vehicle (EV) batteries. Beginning in 2025, Finland-based Terrafame will supply Stellantis with nickel sulphate over the five-year term of the agreement. The Terrafame agreement is a part of Stellantis’ aggressive electrification strategy and will cover a significant portion of the needs for sustainable regionally sourced nickel.

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.