DEALERSHIP group DC Cook is to launch a new web-based vehicle management service aimed at drivers who have opted out of their fleet cars.

The service, called Motor Solutions, is already being trialled and will go live later this year. Initially planned as a partnership with Arval PHH, the service will offer an internet portal allowing customers access through the internet to a full listing of their vehicle running costs, including service and maintenance costs.

Further details will be released later this year prior to launch, with Derek Cook, chairman and chief executive, planning to float the service on the stock exchange early in 2001 for up to £40 million.

For the year ended April 30, the firm made a pre-tax loss of £6.3 million, compared to a restated pre-tax loss of £10.8 million last year. Turnover fell to £266.1 million from £337.5 million for 1999.