Electric Porsche

Major Milestones Between 2017 and 2020 DAF started to build its first New Generation trucks. “What you see here are three milestone trucks,” Borsboom tells us. “Trucks are complex networks of systems and ECUs, and you cannot simply exchange parts in and out.

So through the development of the truck, we defined integration milestones.

DAF needed to trial these trucks on public roads, but clearly didn’t want to reveal any design secrets in the process. The current XF cab is 34 years old, and as it has undergone various updates over the years, so DAF was able to dressup new models as their predecessors, in order not to attract unwanted attention from our spy photographers. However, this was no longer possible with the all-new cab, which explains the heavy camouflage.

“Because this was an entirely new cab with entirely new dimensions, it was always going to be difficult to prevent people from seeing that it was a new cab. So we decided we wouldn’t hide the fact that the new cab is coming. But we will hide what it will look like,” he says.

The first two trucks here are fitted with aftermarket headlamps, but the third one, which is a pre-series truck from 2020, features the real lights, albeit partly concealed. Most of the vehicles from this era had 3D-printed dashboards, which as you can imagine, didn’t last particularly well. “We wanted to learn about ergonomics, where we wanted the vents, the switches and the buttons to be,” says Borsboom.

Cutting The Camouflage But eventually it was time to remove the camouflage completely, and in early 2021 trucks like this started appearing on our news pages and in numerous social media feeds.

“For quality evaluation, we exposed the concept of the truck,” he explains proudly. “But we covered it with razzle-dazzle camouflage to hide the styling principles.” But it wasn’t able to hide the 160mm tapered front-end protrusion. The Finished Product And finally we have the finished product, as launched last summer. This is one of the early demonstrator trucks, which was built in June. The New Generation truck range, which is now in full series production, has just scooped the International Truck of the Year 2022 title.

MONEY MATTERS

Words: Steve Banner Photographs: DAF - Tom Cunningham

Celebrating its 21st anniversary in Britain this year as the in-house fi nance company of DAF Trucks, PACCAR Financial is responsible for funding some 30% of the market-leader’s British volume, says Sales Director, UK and Ireland, John Mabey. “That typically equates to approximately 3,300 to 3,400 vehicles annually, although in our record year we funded 4,000,” he adds.

Hire Purchase remains by far and away the most popular option among PACCAR Financial’s clients. “It accounts for 70% of what we do,” he reports. Opt for HP and the vehicle is yours to do with what you will once all the payments are made. “On average the agreements run for four years although we can do one over as little as a year,” he says. HP can be the ideal choice for a customer who needs a rigid, given that rigids tend to remain in service with operators for longer than tractor units, particularly if they are fi tted with specialist bodywork.

“In fact most of the 70% I referred to are rigids,” says Mabey.

At present plant and machinery - including trucks - acquired on HP are covered by the so-called superdeduction concession introduced by Chancellor of the Exchequer, Rishi Sunak, in the autumn 2021 Budget. It allows businesses to claim 130% capital allowances on qualifying assets purchased between 1 April 2021 and 31 March 2023.

The aim is to stimulate corporate investment in the wake of the coronavirus pandemic. PACCAR Financial will of course fund tractor units as well as rigids, and off ers a variety of diff erent fi nance products alongside HP. “We can soon prepare a quotation based on the terms requested, including product type, the size of the deposit, and the length of the agreement,” says Mabey.

The company’s portfolio includes fi nance leases, operating leases and contract purchase - in eff ect HP with low monthly instalments, and a balloon payment at the end of the contract. “You can either make the payment, in which case the truck is yours, or hand the truck back, and walk away,” he says.

Working through the DAF dealer network, PACCAR Financial adopts a fl exible approach he says, and prides itself on making decisions on whether or not to extend credit within 24 hours of all the information it requires being supplied.

So what does it need to know? “How long the applicant has been trading, what the business does, who its top three customers are and the percentage of its revenue they contribute, and what loans and overdrafts the business has in place,” he replies. “We also require a copy of its latest accounts, and of its management accounts too if it produces them. “Most of this information can be gleaned from a phone conversation with one of our business managers, with the accounts following via email,” he adds.

If everything is satisfactory, then the agreement can proceed. “We approve 90% of the applications we receive,” Mabey says.

If the foregoing makes PACCAR Financial sound a mite cautious in its approach to extending credit, then Mabey makes no apologies for it.

“The approach we take has enabled us to build up a client base made up of good-quality risks that are fi nancially strong,” he explains. “As a consequence we were able to keep supporting our customers during the 2008/9 banking crisis when many other funders walked away.

“We didn’t walk away. Instead, we supported our customers, the dealer network, and the DAF product.

“All we do is fund DAFs, remember.”

PACCAR Financial took the same stance when the Covid-19 pandemic struck in 2020 he says, rewriting agreements where necessary to ensure that its clients could keep trading. “If our processes had been more lax then a lot of them might have ended up falling over,” Mabey comments.

Instead, all the requests for payment holidays were granted; and PACCAR Financial experienced zero business failures or contract losses.

DDM

“THAT TYPICALLY EQUATES TO APPROXIMATELY 3,300 TO 3,400 VEHICLES ANNUALLY, ALTHOUGH IN OUR RECORD YEAR WE FUNDED 4,000,”

MARK STEWARD TRANSPORT

Mark Steward has made use of what PACCAR Financial has to offer on a number on occasions during the 19 or so years he has been in business. “I’ve always gone the HP route because I like to own my vehicle and have an asset on the books,” he says.

Based in Oswestry, Shropshire, and trading as Mark Steward Transport, he decided to strike out on his own back in 2003 after having worked as a driver for several different operators. “I’d always wanted to be my own boss and make my own decisions,” he says.

“My first tractor unit was an eight-year-old 95 Super Space which cost £10,000,” the 49-year-old remembers. “I bought it off an owner-driver based locally to me who was calling it a day.

TRUCKFEST 22

TRUCKFEST 22 TRUCK FEST 22

It’s Showtime!

Now back up to full steam, Truckfest Peterborough returned to its full size showing with nearly 3,000 trucks on site.

With three awards on off er, the DDM team took to the avenues and alleyways of the packed East of England Showground to hunt out what could only be described as absolute stunners.

The categories of best working truck, best show truck and best classic truck were all fi ercely fought. All trucks were presented in immaculate condition which made the judges task even harder. The three categories were fi nally decided and we’re sure you will agree that our choices are very worthy winners.

What was a pleasant surprise was the amount of New Generation product at the event with XF, XG and XG+ all making a big splash.

BEST WORKING TRUCK

BEST CLASSIC TRUCK

BEST SHOW TRUCK