Error parsing XSLT file: \xslt\FacebookOpenGraph.xslt Credit crunch sees Alphabet stop new business
Cookies on Businesscar

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies on the Business Car website. However, if you would like to, you can change your cookies at any time

BusinessCar magazine website email Awards mobile

The start point for the best source of fleet information

Credit crunch sees Alphabet stop new business

Date: 17 November 2008   |   Author: Tristan Young

Mark Sinclair is boss of leasing firm Alphabet

The global financial crisis is starting to hit UK leasing firms with BMW-owned Alphabet closing its door to new customers after 19 November.

Alphabet, the UK's 11th largest lease firm with a fleet of 45,000 cars, will carry on doing business with existing customers, including supplying new vehicles, but will close its doors to new fleets after 19 November.

Alphabet boss Mark Sinclair, who also runs a blog on the BusinessCar website, was unavailable for comment. Alphabet are passing on all press calls on the subject to a BMW financial spokesman.

"This is a temporary measure for an unspecified period," said an Alphabet spokesman. "It is a worldwide decision taken by BMW Group in response to the financial markets."

The spokesman confirmed that BMW could not get funding at the right level on the banking markets to run new business at Alphabet.