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Renault takes small fleet contract hire in-house

Date: 27 January 2014   |   Author: Tristan Young

RCI Financial Services, the Renault-owned bank, is to take over the supply of contract hire business to small fleets through the Renault, Nissan, Dacia and Infiniti dealer networks.

Arval previously supplied the in-house fleet business as a white-label product to the sister companies.

The new arrangement will formally start on 1 July 2014.

"This is a strategic, international decision that reflects a changing market, which we believe we can capitalise on and is in no way a reflection of Arval's performance, which has been very strong, particularly in 2013," said Malcolm Banfield, commercial director at RCI Financial Services.

"We must now build upon the volumes that Arval has delivered for Nissan, Renault, Dacia and Infiniti."

A spokesman added that until now, RCI did not have the showroom systems in place to offer the right level of customer service. He also stated that RCI expected to grow the current fleet size of approximately 10,000 vehicles over the next few years.

Elliott Woodhead, director of SME & partnerships at Arval, said: "Coming off the back of such a successful relationship, and exceptional volumes in 2013, it is clearly disappointing to lose this important partner.

"We remain committed to supporting Renault, Dacia, Nissan and Infiniti to maximise contract hire opportunities over the next six months.

"The way that we have performed for RCI gives us confidence for the future as we remain committed to our growth strategy and to developing our partnership channels."