Alphabet GB has launched Alphabet Motion, a new platform for both personal contract hire (PCH) and credit sale agreement (CSA).

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Alphabet said the platform was launched in response to a shift in demand for personal leasing over the past year, likely following the increase in benefit-in-kind (BIK) tax rates, which has seen corporate customers move away from company car leasing to cash alternatives.

Additionally, as home working has become the norm, drivers require more flexibility and shorter lease options, while a change in perception around monthly usage contracts has seen people become more comfortable with the idea of PCH.

Gavin Davies, general manager, customer account management at Alphabet, said: “Historically, we’ve focused on developing services primarily for businesses, so expanding into personal contract hire is a significant and exciting step for us. We spotted the demand and gap in the marketplace for PCH at the start of 2020, and this has continued to grow throughout lockdown, making now the perfect time to launch Alphabet Motion.

“A customer has already described the new platform as a ‘breath of fresh air’. Alphabet Motion is another example of how we are continuing to adapt and innovate at Alphabet, to meet our customer demands and to support our ambitious business growth targets.”

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Last month, Alphabet announced that Spencer Halil will join the company as chief commercial officer.

Halil has headed up Alphera’s UK business for the past five years and overseen a period of substantial growth, as well as innovations such as the accreditation partnership to improve industry standards with the Institute of Motor Industry (IMI) and the recent Alphera Zero carbon-offset finance product.

Halil led the business previously between 2008 and 2011.