Lex Autolease, the UK’s largest fleet management provider, capped a strong performance in the first half of the year by increasing the overall size of its fleet.
The business, whose north west office is based in Cheadle, Stockport, added more than 4,300 new vehicles to its stock in the six months to the end of June, with the total fleet size rising to 273,000 vehicles.
The increase in fleet size is the first since the integration of Lex and Lloyds Autolease four years ago. In the post integration period Lex Autolease made the strategic decision to consolidate its fleet by exiting certain sales channels and market segments.
Figures released earlier this month by parent company Lloyds Banking Group show that its asset finance division, which includes Lex Autolease, recorded a six per cent increase in sales, and underlying profit growth of 59 per cent in the six months to the end of June.
Tim Porter, Lex Autolease’s Managing Director, said:
“The return to fleet growth is an important milestone for Lex
Autolease. It has taken a great deal of hard work and
dedication from staff during the last four years to integrate
two large and complex businesses. As a result of their
endeavours, the organisation is well positioned for growth
and focussed upon delivering excellent service for
customers
“Demand for vehicles, particularly in the LCV market, is
closely linked to conditions in the wider economy. Our
customers are feeling more positive about their own growth
prospects and consequently they are more willing to invest in
their fleet.
“As the UK’s largest fleet provider, we want to help businesses of all size capitalise on the improved
economic conditions by providing them with the vehicles, products and expertise to support their
growth ambitions”.
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