Vauxhall & Saab own-brand leasing moves to ALD
05 August 2009
GM UK has moved its own-brand leasing operation to ALD Automotive following previous contract holder Masterlease's decision to stop leasing Saabs.
Masterlease, which is part of GM's own finance division GMAC, stopped leasing Saabs at the start of the year when the future of the Swedish firm was in doubt, and has not re-started leasing the brand despite a buyer for the Saab business being found.
The new deal will see ALD manage Vauxhall Leasing, Saab Contract Hire and Chevrolet Lease from 31 August 2009.
A statement from GM said: "After a partnership of eight years, General Motors UK Ltd and Masterlease have mutually agreed to end their private label leasing relationship and pursue differing strategies for future growth. Masterlease will continue to operate existing vehicle contracts written prior to 28 August."
Maurice Howkins, fleet sales director of General Motors UK said: "We are committed to offering all business customers and our retailers a highly competitive 'one-stop-shop' package with GM UK Leasing."
Howkins believes the "successful Insignia and the growing popularity of the EcoFlex models will drive business for Vauxhall Leasing," while he is targeting "excellent growth" for Saab Contract Hire with the forthcoming new 9-5 and the 9-3 range, while Chevrolet Lease "will benefit with its growing portfolio of products including the new Cruze."
Commenting on the loss of the contract Peter Tatlock, managing director of Masterlease, said: "Recent macro economic developments have driven both parties to re-examine their priorities and make some strategic decisions about future growth. The business will focus its activities around attracting and serving larger corporate customers where there is greater opportunity to provide a broader portfolio of services and where we can add the greatest value to our customers.
"Whilst we won't be exiting the SME market, we expect to trade less here, and as such we couldn't give General Motors UK Ltd the commitment it required for volume in the sector," he said.