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Low Euro-4 uptake hits finance companies
26th April 2007, Page 50
26th April 2007
Page 50
Page 50, 26th April 2007
— Low Euro-4 uptake hits finance companies
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Keywords :
Business, Contract Law, Law, Private Law, Economy Of The European Union, Euro, Hire Purchase, Leasing, Tractor, Financial Capital, Business / Finance
THE LEADING bank-owned asset finance companies are engaging in a rate war. With fewer trucks to fund, their sales teams are reporting cut-throat competition for hire-purchase and leasing deals.
The slow-down is due to many operators having purchased Euro-3 tractors last year, reducing demand for new Euro-4 purchases.Truck registration levels are almost 30% down compared to the same time last year.
Kelvin Briggs, transportation leader at GE Capital Solutions, says: "With new business targets to hit,most finance companies are competing hard to retain customers.The astute operators are shopping around, keeping us all on our toes,"
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Kelvin Briggs