• Opportunities and challenges for the new single combined business which manages both business and consumers. What will happen to the multi-marque business at Alphabet?
• Dennett and Halil's views on the current market challenges including the transition to BEV, higher interest rates, supply shortages and the cost-of-living crisis
• Attracting talent into the industry. Find out more about the BMW Group Apprentice Programme.

Tim Albertsen, CEO of ALD Automotive talks live to Asset Finance Connect about ALD’s acquisition of LeasePlan

Last week, ALD announced that it would acquire LeasePlan for €4.9 billion. ALD’s parent Société Générale will own 53% of the new company, LeasePlan shareholders just under 31%.

This Thursday, January 20th at 1pm Europe time; midday UK you can learn more about this acquisition by signing up for Asset Finance Connect’s webcast interview when content leader David Betteley will interview Tim Albertsen, CEO of ALD live online.

• Understand why this acquisition makes strong strategic sense for Société Générale
• Hear why ALD’s parent, Societe Generale sees mobility as its third big pillar alongside retail and investment banking
• Consider what this acquisition tells us about the future for the global fleet industry

Got a question you would like us to ask Tim? We want to hear it. Email This email address is being protected from spambots. You need JavaScript enabled to view it.

Sign up now for this important webcast. It’s free to attend, open to all, and if you work in fleet, you should not miss it.

DriveElectric, Rivus Fleet Solutions, and Bynx will be joining the next Asset Finance Connect webcast to discuss how EVs are changing the role of fleet managers forever.

In this one hour event Jason Chamberlain from Rivus and Mike Potter from DriveElectric, two industry thought leaders on EVs will be providing their unique insight into the needs of UK corporates as they seek to transition to greener mobility solutions and will highlight the role for fleet management industry to ease that change.

Among the topics to be considered in the webcast will be:

• The role of fleet management companies in helping corporates focus more on environmental issues – how to move from ESG objectives to a workable action plan that meets customers mobility and their ESG requirements.
• Managing the transition – learn where the challenges for fleet managers are as they start the transition process; and understand the key challenges for fleet leasing and management companies in delivering on these challenges.
• The road ahead – where will the focus go as corporates move beyond BEV? Will there be greater focus on used car finance and asset management or even pay per mile models for finance? What will governments do to help?

Angela Montacute is joined by Chris Kirby, founder of Tomorrow’s Journey to discuss the evolution of subscription based products and hear first hand the opportunities and challenges implementing such models presents.

The conversation focuses on the practical problems and challenges of implementing car subscription models and some of the key aspects to building successful and scalable products. Chris also talks about how he sees subscription evolving over the coming years.

Tomorrow’s Journey is an innovative software company that is helping some of the world’s biggest automotive brands to launch scalable smart mobility business models quickly and cost effectively.

The latest Asset Finance Connect webcast features a follow-up interview with Richard Jones, MD of Motor Finance & Leasing, Lloyds Banking Group on rate-for-risk, a pricing model which they have used in the past, and are currently re-evaluating in a series of pilots with auto dealers in the UK.

“Rate for risk could have a bigger role in the [auto finance] market.” Jones told David Betteley, Asset Finance Connect’s auto finance community leader “But it changes the model. You’ve got to give the driver a sense of their credit-worthiness right at the start of the journey… If you’re a retailer it changes the way you advertise vehicles, and it changes the way you market.”

• Hear why the FCA are thinking more about rate-for-risk and how it differs from fixed rate models that are prevalent in the UK
• Learn where rate-for-risk opportunities lie and understand the challenges for existing sales, risk and compliance departments
• Understand the technologies which can help establish credit-worthiness at the start of the customer journey and manage a new model

In-depth insights

60 minutes

Participants:

• Miguel Cabaca, managing director, Arval UK
• Ian Tilbrook, former Fleet Director of Volkswagen Financial Services
• Toby Poston, director of corporate affairs, BVRLA
• Edward Peck, David Betteley and Brian Rogerson, Asset Finance International

This week Boris Johnson has announced that he will ban the sale of ICE cars in the UK by 2030 and the sale of hybrids by 20351. At present however BEVs still represent only 7% of new vehicles sold in the UK1 and nearly half of UK consumers feel that Boris’ previous target date of 2035 was too early².  Business fleets however seem more willing to transition, with 30% of UK businesses already using EVs and 50% expecting to use them within the next few years³. Zenith’s total order book in June, for example, was expected to be 30% BEV. ³

Why the difference? There are many reasons including fleet companies focus on total cost of ownership which contrasts with consumers preoccupation with purchase price alone; the substantial reductions in benefit in kind available to business purchasers; and of course the deeper pockets of businesses over consumers to pay for BEVs which are currently substantially more expensive, with the cost of batteries being a large contributor⁴. BEV’s are also an opportunity for businesses to show off their green credentials⁵

The BVRLA’s recent plug-in pledge suggests that the industry sees an opportunity in the short-term to increase uptake and lead the charge⁶ but manufacturers will need to find ways to accelerate uptake among both consumers and businesses alike to meet increasingly challenging CO2 targets proposed in the EU⁷.  OEMS vision for business growth post the transition may collide with fleet companies with increased focus on services.⁸

What is Miguel’s views on the opportunities and challenges faced by the industry as it manages this transition?

How will the economic downturn and BREXIT affect the speed of transition?

How will auto industry, serving both consumers and businesses change – and what is fleet’s likely role?

Where next? Will the industry become the true eco-warriors of the future adding value through by maximising car utilisation and its usage of data?

Background Reading

¹ https://www.ft.com/content/5e9af60b-774b-4a72-8d06-d34b5192ffb4

² https://www.smmt.co.uk/2020/09/billions-invested-in-electric-vehicle-range-but-nearly-half-of-uk-buyers-still-think-2035-too-soon-to-switch/

³ https://www.fleetnews.co.uk/news/latest-fleet-news/electric-fleet-news/2020/07/09/ev-demand-surges-to-record-high-as-fleets-embrace-tax-savings

⁴ https://www.autonews.com/sponsored/battery-electric-vehicle-bev-why-mass-adoption-inevitable-yet-elusive

⁵ https://www.theclimategroup.org/ev100-members

⁶ https://www.bvrla.co.uk/resource/2020-plug-in-pledge.html#:~:text=In%20July%202018%2C%20the%20BVRLA,50%2C000%20to%20720%2C000%20by%202025

⁷ https://europe.autonews.com/environmentemissions/eus-proposed-tougher-co2-target-criticized-auto-industry

⁸ https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/reimagining-the-auto-industrys-future-its-now-or-never

First shown May 14, 2020

120 minutes

In the second in a series of online seminars on the challenges facing the asset finance industry during the Coronavirus crisis, industry experts provide critical guidance on the key issue of Operations and Forbearance.

Experts provide their analysis on planning a return to market, while there is also expert insight on how regulators are expecting organisations to treat their good and bad customers through to bounce-back.

Expert witnesses

• Melanie Chell, partner and head of asset finance, Shoosmiths
• Adrian Dally, head of motor finance, Finance & Leasing Association
• Colin Fleischmann, group director, White Clarke Group
• Simon Harris, partner, AVANTALION Consulting Germany
• Peter Landers, director, strategic partnerships, MotoNovo Finance
• John Rees, global head of sales and marketing, Societe Generale Equipment Finance
• Rohan De Souza, global head of auto finance, Genpact

“I want to thank delegates for your very positive comments on our first session we ran and to thank you all for the care and attention you have taken in your requests to tell us what you want to know.” Edward Peck, chief executive officer, International Asset Finance Network Online