General Motors (GM) has announced that
it has reached an agreement with lessor ALD Automotive to manage
its UK private label leasing operation, which includes the brands
Vauxhall Leasing, Saab Contract Hire and Chevrolet Lease.
ALD Automotive takes over from
Masterlease, which had worked with GM for eight years.
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Maurice Howkins, fleet sales director
of General Motors UK Ltd, said: “We are committed to offering all
business customers and our retailers a highly competitive
‘one-stop-shop’ package with GM UK Leasing.”
Keith Allen, managing director of ALD,
commented: “This represents a significant growth opportunity for us
and we expect GM UK Leasing’s business customers and GM’s retailers
to benefit from our comprehensive range of innovative funding and
management products, meeting the needs of both the corporate and
consumer markets.
“ALD has considerable experience in
this market from operating a successful Dealer Services division
for more than 10 years.
“Vauxhall, Saab and Chevrolet
retailers will, therefore, benefit from well established IT systems
and a dedicated support infrastructure.”
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By GlobalDataMeanwhile, Peter Tatlock, MD of
Masterlease, said that the lessor looks forward to continuing its
relationship with General Motors, and will honour all customer
contracts signed on or before August 28, with GM’s relationship
with ALD effective as of August 31.
Tatlock said that “recent
macroeconomic developments had caused Masterlease and GM to
re-evaluate their relationship”, with Masterlease taking a
strategic decision to “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.”
“While 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,” Tatlock added.
