The Pendragon Group, which owns fleet software provider CFC Solutions and its parent company, Pinewood, has confirmed that it is considering selling the companies.

“We can confirm that we are currently considering options regarding the future of this business and a further announcement will be made as appropriate in due course,” it said in one of the gloomiest management statements so far in the current recession.

In the statement the dealer group, which also owns the leasing giant – Pendragon Contracts - said there has been a “significant impact on new car registrations” with the retail sector in which it operates being hit harder.

Pendragon Contracts is one of the country’s largest lease companies – it is number 17 in the FN50 list – with over 24,000 vehicles under its management.

It will have been hit hard by falling residual values which have taken many lease companies by surprise by their rapid decline.

Confirming this, the company said: “The used car market has also been more difficult in the last four months with prices falling by approximately 5% per month on average, with executive and large 4x4 vehicles being hardest hit”.

As a result, the company has laid off more than 2,500 employees - almost 20% of its total workforce.

It has also closed 75 dealerships since June 2007.