BC50: UK top 50 lease firms revealed
20 October 2009
Author: Tristan Young
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Indeed the biggest percentage loss in fleet size among the top 25 came from Masterlease, owned by?GM's finance house GMAC. The drop of nearly 24,000 vehicles tallies with the decision by the carmaking giant's vehicle sales operation in the UK (namely Vauxhall, Saab and Chevrolet) to stop using Masterlease in favour of ALD Automotive, owned by French bank Societe General. The move came after Masterlease announced it would no longer write any new Saab business because of uncertainty over the Swedish brand's future.
However, the full extent of the fall isn't just due to the loss of this single channel, as Masterlease boss Peter Tatlock explains in the panel below.
Interestingly, the GM deal has yet to impact upon ALD's figures.
Dealer group-owned Pendragon Contracts also saw a significant fall in 2009 with its fleet shrinking 23% to nearly 18,500 vehicles.
Pendragon Contracts managing director Neal Francis attributed the drop to "customers downsizing their fleets given the broader economic conditions, external funders underwriting policy and acceptance criteria tightening and Pendragon's internal-use fleet declining."
|BC50 2009, 25-11|
|Position||Company||Risk 2009||Risk 2008|
|25||Days Contract Hire||10,000||**|
|24||Venson Automotive Solutions||11,300*||**|
|22||Carillion Fleet Management||14,250*||16,500|
|17||Peugeot Contract Hire||19,767||21820*|
|16||Citroen Contract Motoring||22,200||22,250|
|15||Inchcape Fleet Solutions||26,261||29,373|
|14||Hitachi Capital Vehicle Solutions||36,673||31,474|
|13||Arnold Clark Vehcile Management*||37,000||39,883|
|11||Volkswagen Group Leasing||41,984||41,965|
|* estimated, ** data not collected|