Hitachi Capital Vehicle Solutions will unveil a salary sacrifice product in the New Year as leasing companies jockey to take advantage of a growing interest in the product.

It joins the likes of LeasePlan, which announced it would be launching a salary sacrifice scheme called SalaryPlan in 2010 and others such as Zenith Provecta, which already has a foothold in the market.

“Organisations are looking at creative ways of rewarding people,” explained chief executive officer Simon Oliphant.

“That’s why I think salary sacrifice is quite exciting, especially when it can appeal to either a senior person or a junior person within an organisation.”

Oliphant added that Hitachi had held off from going to market with a salary sacrifice product before now because many companies had undergone restructuring and reorganisation during the recession.